Asian pandemic downturn leads Las Vegas Sands to stay patient

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Review Journal

Las Vegas Sands speeding up Marina Bay Sands resort’s renovation project in Singapore

Las Vegas Sands Corp. will speed up its $1 billion renovation of the Marina Bay Sands resort in Singapore. In a proxy statement issued by Sands Friday, ahead of its May 11 annual meeting, Chairman and CEO Rob Goldstein said the project to upgrade two towers at the iconic property is expected to be completed by the end of the year. "Following the…

Travel ・ 07 April 2023

The Motley Fool

Better Buy: Wynn Resorts or Las Vegas Sands Stock?

The gaming and resort industry continues to recover from the pandemic, and one of the biggest gaming markets in the world reopened earlier this year: Macao, China. With Macao back in action, casino operators there stand to benefit from pent-up demand -- as do casino stock investors. Here, I'll compare two American casino companies with properties…

Industry ・ 19 March 2023

Review Journal

Macao travel restrictions continue to pummel Las Vegas Sands

Travel restrictions in Macao continued to drag on Las Vegas Sands Corp. earnings, but resiliency in Singapore had company officials feeling optimistic as they reported their third quarter results on Wednesday. The company reported a net loss of $239 million, 31 cents a share, on revenue of $1 billion for the quarter that ended Sept. 30. A year…

Travel ・ 21 October 2022

Review Journal

Macao casino reopen, but business continues to be slow and will be for some time

The good news for Macao's 41 casinos is that the government has allowed the properties to open their doors again. The bad news: Not many people are coming through them. The fact that tourists face a seven-day quarantine before being allowed into the region is one big reason for the lack of visitors, according to a source familiar with the situation…

Covid ・ 27 July 2022

Wild Casino

$5,000 Welcome Bonus

Deposit bonuses are optional and must be requested by the player when making a deposit. For example, use Promo Code WILD1 to a 100% Casino bonus. Your bonus request will be assessed and, if your account is eligible for the bonus, it will be added to your account immediately.

The Nevada Independent

Singapore resort keeps Las Vegas Sands afloat as Macau continues to crater

For the near term, Las Vegas Sands is a single casino company. Sands sold its Las Vegas holdings in February and its Macau casinos are operating at roughly 50 percent following a two-week shutdown tied to increased COVID-19 infections. The company relies on the Marina Bay Sands in Singapore for the majority of its revenue and cash flow. Last week,…

Covid ・ 27 July 2022

World Casino News

Second-quarter setback for Las Vegas Sands Corporation

American casino operator Las Vegas Sands Corporation has released its second-quarter unaudited financial results showing that its net loss for the three-month period rose by slightly over 51% year-on-year to hit $290 million. The Las Vegas -headquartered firm used an official Wednesday press release to detail that its aggregated revenues for the…

Land-based ・ 21 July 2022

Review Journal

Sands casinos among properties that will be allowed to reopen Saturday morning

Las Vegas Sands Corp., operators of casinos in Macao and Singapore, reported tepid second-quarter revenue results Wednesday as health restrictions in Macao continued to batter resort operators there. The Las Vegas-based casino company reported a loss of $440 million, 38 cents a share, on revenue of $1.045 billion for the quarter that ended June 30.…

Covid ・ 20 July 2022

The Street

Las Vegas Strip Casino Leaders Take Unexpected Covid Hit

Covid crushed the travel business and few cities took a bigger hit than Las Vegas. Under orders from Nevada Gov. Steve Sisolak (D), the city's casinos, hotels and restaurants closed for roughly two months in the early days of the pandemic. The reopening of Sin City was a slow process, with the two biggest Las Vegas Strip players -- Caesars…

Covid ・ 11 July 2022

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Review Journal

Weeklong Macao casino shutdown affecting Sands, MGM, Wynn begins

Macao casino resorts closed their doors Monday as a weeklong government-ordered shutdown began in the region, taking a toll on properties including several operated by three Las Vegas-based companies. Because of elevated COVID-19 case numbers, Macao Secretary for Administration and Justice Andrew Cheong Weng Chun on Saturday ordered a closure of…

Covid ・ 11 July 2022

Review Journal

Macao casinos to close as COVID-19 outbreak widens

Macao will shut almost all businesses, including casinos, for a week starting Monday as a COVID-19 outbreak in the Asian gambling hub showed few signs of abating, Macao Daily reported. Essential business operations including supermarkets and pharmacies will remain open, the report cited the city's officials as saying at a press briefing Saturday.…

Covid ・ 10 July 2022

Review Journal

Macao gaming revenue slumps by 68 percent in May

On the day Chinese authorities lifted COVID-19 restrictions in Shanghai, Macao's Gaming Inspection and Coordination Bureau reported another steep decline in gross gaming revenue for the month of May. The bureau that monitors gaming revenue for Macao's 41 casinos - including several owned and operated by three Las Vegas-based companies - reported…

Finance ・ 02 June 2022

Vegas Slots Online

Las Vegas Sands Eyes New York, Texas, Florida Casinos

Las Vegas Sands is contemplating a return to the American market, specifically eyeing New York, Texas, and Florida. [Image: Shutterstock.com] Las Vegas Sands Corporation (LVS) is eyeing future sites in New York, Texas, and Florida amid a potential return to the US market. Marina Bay Sands in Singapore has been the company's top grosser LVS closed a…

Covid ・ 29 April 2022

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Review Journal

Macao gaming revenue dips to an 18-month low

Macao gaming revenue slumped to an 18-month low in March, Macao's Gaming Inspection and Coordination Bureau reported Friday. It was the second month this year that gross gaming revenue was below 2021 levels. The market showed a 6.1 percent rebound in February, thanks primarily to increased visitation during Chinese New Year celebrations. The bureau…

Finance ・ 02 April 2022

SBC Americas

LVS nears Las Vegas divestment amid $315m Q4 net loss

Las Vegas Sands has reported a slight 0.7% revenue decrease through 2021's final quarter to $1.01bn, which is largely due to a 5.8% drop to $651m (2020: $689m) in the group's casino division. Operating loss through the quarter ending December 31 came in at $138m compared to a loss of $119m in the prior year quarter, with net loss widening to $315m…

Covid ・ 29 January 2022

Entrepreneur

Las Vegas Sands (LVS) Q4 Earnings & Revenues Beat Estimates

Las Vegas Sands Corp. LVS reported decent fourth-quarter 2021 results, with earnings surpassing the Zacks Consensus Estimate and increasing year over year. Revenues during the quarter beat the consensus mark but declined on a year-over-year basis. Following the results, the company's shares increased by more than 2% in the after-hour trading…

Finance ・ 27 January 2022

Review Journal

Losses by large companies show pandemic still affects Las Vegas

The theory gaming industry analysts hypothesized months ago appears to be holding true: Companies operating on the Strip and in Macao are struggling more than their regional counterparts. Third-quarter earnings reports wrapped up late last month and the numbers show there's still a way to go before we can say the pandemic is behind us, even as…

Covid ・ 05 December 2021

Review Journal

Las Vegas Strip landlord Vici sees revenues rise in Q3

The soon-to-be largest landlord on the Strip believes there's never been a better time to be investing in Las Vegas. That's understandable excitement for a company that has inked real estate deals for Strip properties totaling more than $21 billion this year alone. "We were very excited from the day we started the company. We're even more excited…

Land-based ・ 29 October 2021

Markets Insider

Is Las Vegas Sands About to Become an Unstoppable Growth Stock?

Casino company Las Vegas Sands (NYSE: LVS), which sold off its Nevada properties and went all-in on Macao and Singapore, reported its third-quarter results on Wednesday. But while many other gambling enterprises are enjoying a vigorous 2021 rebound, Sands' revenue and earnings results were more reminiscent of the metrics it saw during 2020's…

Covid ・ 01 November 2021

Skift

Las Vegas Sands CEO Praises China While Macau License Up for Renewal

Macau is an extraordinarily important gaming market for Las Vegas Sands, and the company's third quarter earnings call was a giant love fest for China's gaming regulators. What else are company leaders going to do but schmooze the people in charge of renewing their gaming license? Now is apparently not the time for Las Vegas Sands leadership to…

Industry ・ 21 October 2021

WTOP

7 Best Gambling Stocks to Buy

Analysts recommend these gambling stocks in 2021. The gambling industry has been one of the hardest hit by the pandemic in 2020, and casinos were especially affected during the economic shutdown. Destinations such as Las Vegas and Macao have had a particularly difficult struggle due to travel restrictions. At the same time, the pandemic accelerated…

Top and Best ・ 27 July 2021

Review Journal

COVID-19 ‘deep cleaning’ to close Marina Bay Sands casino through Aug. 5

The casino at Las Vegas Sands' iconic Marina Bay Sands resort in Singapore has been closed while the company addresses new COVID-19 alerts established by the government. "In view of the heightened COVID-19 situation in Singapore, Marina Bay Sands will be operating on revised capacities and stricter measures across property, in support of the…

Covid ・ 24 July 2021

Review Journal

Revenue rebounds, losses narrow for Las Vegas Sands Corp.

Las Vegas Sands Corp. has begun riding the rebound from the coronavirus pandemic, reporting improved second quarter revenue and narrowed losses on Wednesday. The company reported second quarter net loss of $139 million, 30 cents per share, on revenue of $1.173 billion in the quarter that ended June 30. That compares with a net loss of $757 million,…

Finance ・ 21 July 2021

The Motley Fool

Did This Casino's Big Bet on Asia Just Go Bust?

It was a bold move by Las Vegas Sands (NYSE:LVS) to abandon its namesake city in favor of going all-in on Asia. Earlier this year, it sold the operating company behind The Venetian, The Palazzo, and the Sands Expo and Convention Convention Center to Apollo Global Management for $2.3 billion, while real estate investment trust VICI Properties bought…

Covid ・ 12 July 2021