Revenue rebounds, losses narrow for Las Vegas Sands Corp.

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Reuters

Las Vegas Sands second-quarter revenue beats Wall Street estimates

NEW YORK, July 19 (Reuters) - Las Vegas Sands Corp's (LVS.N) second-quarter revenue exceeded Wall Street estimates, benefiting from non-gaming programming in Macao as tourism rebounds from China's loosening of its zero-COVID policy and mass gaming reaching another record in Singapore. The casino operator's revenue rose to $2.5 billion in the second…

Finance ・ 20 July 2023

Defense World

Asset Management One Co. Ltd. Sells 6,092 Shares of Las Vegas Sands Corp. (NYSE:LVS)

Asset Management One Co. Ltd. lessened its holdings in Las Vegas Sands Corp. (NYSE:LVS - Get Rating) by 4.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 140086 shares of the casino operator's stock after selling 6092 shares during the quarter. Asset…

Finance ・ 30 April 2023

Reuters

Las Vegas Sands results beat Wall Street estimates on March demand

NEW YORK, April 19 (Reuters) - Las Vegas Sands Corp (LVS.N) on Wednesday reported quarterly revenue that surpassed Wall Street estimates as March visitation levels accelerated gaming volumes, retail sales and hotel occupancy. The Las Vegas-based casino operator said traffic is rebounding in Singapore and Macao, and it expects further improvement in…

Travel ・ 20 April 2023

Review Journal

6 biggest casino deals on the Las Vegas Strip in 2022

A number of casino operators changed up their real estate portfolio this year with sales, acquisitions and leasebacks - showcasing a flurry of activity after the short but steep economic fallout caused by the COVID-19 pandemic. And a number of those deals, announced last year, have closed in 2022. Here are six of this year's major deals on the…

Industry ・ 26 December 2022

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Best Stocks

Barclays Increases Las Vegas Sands (NYSE:LVS) Price Target to $57.00

Barclays' research analysts raised their price target for Las Vegas Sands (NYSE: LVS), raising it from $43.00 to $57.00 in a study published on Thursday. The Fly shared the information in their article. The company views the casino operator's shares as an "overweight" investment at present and for the foreseeable future. Compared to the price at…

Finance ・ 16 December 2022

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

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

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

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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

Northern Nevada Business Weekly

Caesars spinoff VICI closes on big Vegas Strip property deal

FILE - A plane takes off from Harry Reid International Airport near casinos along the Las Vegas Strip, on Sept. 29, 2021, in Las Vegas. Caesars Entertainment spinoff VICI Properties said April 29, 2022, that it completed its $17.2 billion buyout of MGM Growth Properties, the Las Vegas Review-Journal reported. The deal was first announced last…

Travel ・ 12 May 2022

Review Journal

Las Vegas casino landlord Vici Properties owns 660 acres

After completing more than $20 billion in deals recently, casino landlord Vici Properties now owns several hundred acres along the Strip, "the most economically productive street in the world," the firm said Thursday. Vici, whose real estate holdings on Las Vegas Boulevard include megaresorts MGM Grand, Caesars Palace and The Venetian, this…

Land-based ・ 04 January 2023

GGRAsia

Regulator okays Apollo acquisition of LVS ops in Nevada

The Nevada Gaming Commission has approved the acquisition by private equity firm Apollo Global Management Inc of the operations of the Las Vegas Strip properties owned by casino firm Las Vegas Sands Corp. The regulator voted 4-0 to approve Apollo Global Management as the operator of the Venetian Resort Las Vegas, Palazzo and the Sands Expo and…

Industry ・ 18 February 2022

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The Street

Another Iconic Las Vegas Strip Casino Close to Big Changes

Las Vegas has seen its share of scoundrels and people of questionable morality own casinos. The city more or less rose to prominence as a mafia playground where backroom leg breakers and other shady characters once held the day. That influence subsided as major players including Caesars Entertainment (CZR) - Get Caesars Entertainment Inc Report and…

Land-based ・ 07 February 2022

Review Journal

Asian pandemic downturn leads Las Vegas Sands to stay patient

Las Vegas Sands Corp. executives will stay patient with their big investments in Macao and Singapore as the company prepares for its next phase of operations: one without Las Vegas resorts. Company leaders told investors during their fourth-quarter earnings call Wednesday that they'll stay the course in Macao, where it is the market leader, and go…

Covid ・ 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 casino investors wagering on comeback

When driving the Strip, walking its sidewalks or navigating its casinos, there is no mistaking it: America's rowdy gambling mecca is crammed with tourists again. And even though visitor volume remains below pre-pandemic levels, and the coronavirus outbreak has by no means been stamped out, casino investors are betting big that Las Vegas is back on…

Land-based ・ 23 November 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

Review Journal

Las Vegas Sands Corp. reports third-quarter losses

Las Vegas Sands Corp. reported additional net losses in the third quarter, continuing a wave of losses that began in the first quarter of 2020. The operator of The Venetian and Palazzo on the Strip and the market leader in Macao on Wednesday reported a net loss of $495 million, 48 cents a share, on revenue of $857 million for the quarter that ended…

Finance ・ 20 October 2021

Review Journal

Border restrictions in Macao result in losses for Las Vegas Sands Corp.

Las Vegas Sands Corp. on Wednesday warned investors that its China subsidiary operating in the Macao market suffered losses in July and August because of border restrictions imposed by the government. In a Securities and Exchange Commission filing Wednesday, the company said, "Tighter border restrictions were implemented in Macao affecting…

Covid ・ 09 September 2021

Market Watch

Casino giant MGM Resorts sells $17.2 billion worth of land to a New York-based firm

LAS VEGAS (AP) - A New York-based real estate investment firm will emerge as the largest landholder on the Las Vegas Strip under a $17.2 billion property deal between landholding affiliates of casino giants Caesars Entertainment CZR, -2.92% and MGM Resorts International MGM, -0.74% . Combined, VICI Properties Inc. VICI, -0.63% will end up with…

Travel ・ 15 August 2021

AP News

Casino giant MGM Resorts selling land to New York-based firm

LAS VEGAS (AP) - A New York-based real estate investment firm will emerge as the largest landholder on the Las Vegas Strip under a $17.2 billion property deal between landholding affiliates of casino giants Caesars Entertainment and MGM Resorts International. Combined, VICI Properties Inc. will end up with properties in 15 states. MGM Resorts…

Travel ・ 04 September 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