Las Vegas Sands Corporation Hoping to Open Its Nevada Properties in June

Vedran Ostojic — Mon, 08 Jun 2020 18:24:38 +0000

The Las Vegas Sands Corporation firm is one of the leading USA-based casino and resort firms. The company is based in the state of Nevada where it has been present since its establishment back in 1988. Today, the company’s resorts including gambling-friendly facilities feature all sorts of entertainment and gaming venues alongside accommodation, exhibition venues, meeting spaces, clubs, restaurants, and of course, massive casino floors with hundreds of slots games and table games.

Las Vegas Sands Corporation owns and operates several luxurious venues in Asia and the United States including its most iconic USA-based properties located in the state of Nevada, The Palazzo and The Venetian on the Las Vegas Strip. In Asia, the company owns and manages the iconic Marina Bay Sands facility that is located in Singapore.

Moreover, through its highly successful subordinate Sands China, Las Vegas Sands Corporation also owns several luxurious properties in the former Portuguese enclave, Macau including its Sands Cotai Central, Sands Macao, The Plaza Macao, The Venetian Macao, The Parisian Macao, and Four Seasons Hotel Macao. With so many iconic properties under its wings, Las Vegas Sands Corporation remains the biggest casino and resort-operating company in the world. When it comes to its Nevada-based properties, the company has just recently announced plans about re-opening two of its Las Vegas-based venues sometime in June.

The Venetian and The Palazzo Possibly Re-Opening in June

According to one of the company’s latest press releases, Las Vegas Sands Corporation will be initiating a special program which will test all of its workforces for exposure to the highly-contagious coronavirus. The same report also detailed that Las Vegas Sands Corporation will also recommence business operations at its iconic The Palazzo and The Venetian facilities the next month after it was forced to shut down operation at both venues for eight weeks or two months to help combat the spread of the potentially-lethal coronavirus strain which so far claimed the lives of over three hundred locals.

According to the company’s officials, Las Vegas Sands Corporation has already initiated a protective and safety scheme that regards its workforce. Following this scheme, all individuals who will be returning to work at The Venetian and The Palazzo will undergo testing which will determine whether they have been infected with coronavirus or not. Those who are not affected will return to work.

The American casino operator also revealed that the company will bear the entire costs of these testing even for those workers who are not included in the company’s medical insurance program. According to one report released by the Las Vegas Journal news outlet, Las Vegas Sands Corporation will also make these tests available to everyone who is over the age of thirteen and who live with the company’s workers who will be returning to work very soon at it’s The Palazzo and The Venetian properties.

Offering Voluntary Coronavirus Antibody Tests

According to the company’s officials, Las Vegas Sands Corporation will also offer its staff members at The Venetian and The Palazzo access to coronavirus voluntary antibody tests. The company’s officials explained that these kinds of coronavirus screenings allow individuals to uncover if they have been exposed to the highly-contagious coronavirus strain or not. The antibody voluntary testing will be administered by The PMH Laboratory Incorporated and The Wellness Group inside the company’s Sands Expo and Convention Center while all results remain confidential. Needless to say, the company’s top priority during these difficult times with the ongoing coronavirus pandemic remains the safety and health of its visitors and its workers.

The post Las Vegas Sands Corporation Hoping to Open Its Nevada Properties in June appeared first on GamblersNews.

Mixed Fourth Quarter Financial Results for Las Vegas Sands

Ivan Potocki — Fri, 28 Feb 2020 14:07:12 +0000

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.