$2.92bn revenue for Las Vegas Sands in Q4
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Las Vegas Sands has reported US$2.92bn in net revenue and $469m in net income for the Q4 period of 2023.
Both figures are a significant increase on the results for Q4 2022. Consolidated adjusted property EBITDA reached $1.2bn, compared to $222m in 2022.
"We were extremely pleased with our financial and operating results for the quarter, which reflect the ongoing improvement in the operating environment in both Macau and Singapore. We remain deeply enthusiastic about our opportunities for growth in both Macau and Singapore in the years ahead," said Robert G. Goldstein, chairman and chief executive officer.
"In Macau, the ongoing recovery across all segments continued during the quarter. Our decades-long commitment to making investments that enhance the business and leisure tourism appeal of Macau and support its development as a world center of business and leisure tourism positions us well as the ongoing recovery in travel and tourism spend progresses.
"In Singapore, Marina Bay Sands once again delivered outstanding levels of financial and operating performance. Our new suite product and elevated service offerings position us well as airlift capacity continues to improve and the recovery in travel and tourism spending from China and the wider region continues to advance.
"We are fortunate that our financial strength supports our ongoing investment and capital expenditure programs in both Macau and Singapore, our pursuit of growth opportunities in new markets, and the return of capital to stockholders.
"We repurchased $505m LVS shares under our share repurchase program during the quarter. We look forward to utilising our share repurchase program to return excess capital to stockholders in the future. In addition, we entered into an agreement during the quarter to purchase approximately $250m of Sands China stock, which, upon settlement of the agreement, is expected to increase our ownership interest in Sands China."
