Jan 28 (Reuters) – Las Vegas Sands on Wednesday reported a rise in fourth-quarter profit on strong demand from its Macau operations. The Nevada-based company operates integrated resorts and casinos, such as Marina Bay Sands in Singapore, and six properties in Macau, including The Venetian Macau. CEO Robert Goldstein said the company’s long-standing investments to […]
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Las Vegas Sands’ quarterly profit rises on strong Macau demand
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Jan 28 (Reuters) – Las Vegas Sands on Wednesday reported a rise in fourth-quarter profit on strong demand from its Macau operations.
The Nevada-based company operates integrated resorts and casinos, such as Marina Bay Sands in Singapore, and six properties in Macau, including The Venetian Macau.
CEO Robert Goldstein said the company’s long-standing investments to boost Macau business and leisure tourism position it strongly for future growth.
The company reported quarterly profit of 58 cents per share, compared to 45 cents per share a year ago.
Total revenue from its Macau operations rose 16.2% to $2.06 billion from a year earlier.
The company’s total quarterly revenue rose 26% to $3.6 billion year over year. Analysts, on average, expected revenue of $3.3 billion, according to data compiled by LSEG.
(Reporting by Anshuman Tripathy and Apratim Sarkar in Bengaluru; Editing by Alan Barona)