Las Vegas Sands, a major player in the hospitality and gaming industry, reported a significant recovery in its financial performance for the quarter ended March 31, 2024. Net revenues surged to $2.96 billion, a 39.6% increase from $2.12 billion in the same period of 2023. This growth was driven by a $687 million rise in net casino revenues, with Macao operations and Marina Bay Sands contributing $421 million and $266 million, respectively. Operating income more than doubled to $717 million from $378 million, while net income quadrupled to $583 million from $145 million year-on-year. The company's business development saw positive trends, with relaxed COVID-19 travel restrictions leading to a 125.8% increase in visitation from mainland China to Macao and a 65.5% rise in gross gaming revenue. In Singapore, the lifting of COVID...Show More

Las Vegas Sands, a major player in the hospitality and gaming industry, reported a significant recovery in its financial performance for the quarter ended March 31, 2024. Net revenues surged to $2.96 billion, a 39.6% increase from $2.12 billion in the same period of 2023. This growth was driven by a $687 million rise in net casino revenues, with Macao operations and Marina Bay Sands contributing $421 million and $266 million, respectively. Operating income more than doubled to $717 million from $378 million, while net income quadrupled to $583 million from $145 million year-on-year. The company's business development saw positive trends, with relaxed COVID-19 travel restrictions leading to a 125.8% increase in visitation from mainland China to Macao and a 65.5% rise in gross gaming revenue. In Singapore, the lifting of COVID-19 border measures resulted in a 29% increase in passengers at Changi Airport and a rise in visitation to Marina Bay Sands. Looking ahead, Las Vegas Sands maintains a strong balance sheet with $4.96 billion in unrestricted cash and significant liquidity, enabling the continuation of major construction projects. The company is committed to enhancing its Integrated Resorts, with ongoing renovations in Macao and Singapore and plans for new developments in New York and Texas.