Second-quarter setback for Las Vegas Sands Corporation
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Las Vegas Sands Corporation has released its second-quarter unaudited financial results. The American casino operator's net loss for the three-month period rose by slightly over 51% year-on-year to hit $290 million. Its revenues for three months to the end of June dropped by almost 11% and its gaming receipts slumped by some 16%.
Las Vegas Sands Corporation has a second-quarter net loss of $422 million. Revenues fell 56.7% to $368 million due to the impact of ongoing coronavirus restrictions in Macau.
Marina Bay Sands in Singapore saw its second-quarter revenues more than double year-on-year to $679 million. The three-tower venue's earnings before interest, tax, depreciation and amortization for the three months to June 30 increased 185% to top $319 million thanks to a mass-market gaming win rate that hit 91% of pre-pandemic levels and a hotel occupancy frequency of 93.9%.
Robert Goldstein is the Chairman and Chief Executive Officer of Las Vegas Sands Corporation. He is optimistic about the recovery of the company's business in Singapore and Macau. The company will continue to invest in its team members and communities. The second-quarter financial results were a setback for Las Las Vegas Sands.
