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Mixed Fourth Quarter Financial Results for Las Vegas Sands

Mixed Fourth Quarter Financial Results for Las Vegas Sands
Las Vegas Sands has experienced some difficulties with regards to its Macau-based properties

Las Vegas Sands Corporation if one of the most reputable American resort and casino companies. The company was founded thirty-two years ago back in 1988 by Sheldon Adelson in Paradise, the state of Nevada. Today, Las Vegas Sands Corporation’s hotel and casino resorts feature entertainment and gaming areas, accommodations, exhibition and convention facilities, clubs and restaurants as well as science and art museums located in Singapore.

The company operates in China, Macau as well as the United States where it manages two resorts located on the Las Vegas Strip including The Palazzo and The Venetian. In Asia, Las Vegas Sands Corporation operates the Marina Bay Sands in Singapore which is the company’s most recent addition. Then, through its subsidiary Sands China, the firm also owns several Macau-based properties including the Sands Cotai Central, Sands Macao, The Plaza Macao, The Venetian Macao, Four Seasons Hotel Macao as well as The Parisian Macao.

The Company’s Operational Income Rising

Today, Las Vegas Sands Corporation is the largest company of this kind in the world. When it comes to the company’s latest financial results, the company’s officials have revealed that the company saw its net revenues for the 2019 final three months increase by 1% to reach $3.51 billion despite the fact that the company’s Asian properties chalked up a small 0.8% decline in net revenues.

According to one report released by Inside Asian Gaming, this Las Vegas-based company saw its operational income regarding the fourth-quarter increased by around 6.9% to reach $934 million. It was also reported that the company at the same time managed erase its 2019’s ending deficit of around $40 million thanks to racking up its net income for the last three-month period when its net revenues reached around $783 million.

When it comes to the company’s operating income for its Asia-based properties, it recorded a drop in its fourth-quarter net revenues from its three Macau-based venues while at the same time, the company’s continent-wide net income increased by around 10.3% on a yearly basis to reach $513 million. The same news outlet also reported that the company’s property earnings before amortization, depreciation, tax, and interest increased by around 3.2% to hit $811 million.

Las Vegas Sands Corporation’s Macau Properties

The Inside Asian Gaming news outlet also reported that the company’s fourth-quarter gambling revenues form it’s the Venetian Macao remained relatively static as they reached around $748 million mainly thanks to the venue’s strong performance in VIP and slot businesses. However, this Macau facility saw its chip volume for the three final months of 2019 decrease by around 37.4% to reach $5.88 billion while at the same time its mass drop also decreased by around 3.3% to reach $2.32 billion.

The company’s The Parisian Macao saw its fourth-quarter gambling revenues decline by around 3.2% to hit $334 million while at the same time its rolling chip volume decreased by around 13.2% to hit $4.18 billion while at the same time its mass drop decreased by around 1% to hit $1.12 billion.

The analogous decline was also reported at the Sands Cotai Central facility that is currently undergoing renovations which will transform the venue to The Londoner Macao. The venue’s fourth-quarter gambling revenues decreased by around 9.3% to reach $379 million. Nonetheless, the Sands Macao venue had experienced the biggest hit as its fourth-quarter gambling revenues decreased by around 35.8% to reach $137 million. The venue also experienced a massive rolling chip decline of 35.8% as well as a 2.9% decrease in its mass drop.

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