Las Vegas Snds Stock Price, News & Analysis

Las Vegas Sands Corp. (LVS) reported a significant financial recovery for the quarter ending March 31, 2023, fueled by a resurgence in travel and tourism spending in both Macao and Singapore. Adjusted property EBITDA reached $792 million, with net revenue soaring to $2.12 billion, a stark contrast to $943 million in the prior year. Notably, Marina Bay Sands achieved mass gaming revenue of $549 million, while Macao's mass gaming revenue surpassed $1 billion for the first time since 2019. However, the company reported an interest expense of $218 million, up from $156 million a year ago. As of March 31, 2023, unrestricted cash stood at $6.53 billion and total debt was $15.97 billion.

Las Vegas Sands (NYSE: LVS) is set to announce its first-quarter 2023 financial results on April 19, 2023, after market close. The company will follow this with a conference call at approximately 1:30 p.m. Pacific Time to discuss these results. Investors can access a live webcast of the call through their investor relations page at www.investor.sands.com.

Las Vegas Sands is renowned for developing and operating integrated resorts, benefiting tourism and local economies. Its diverse portfolio includes significant properties like Marina Bay Sands in Singapore and several resorts in Macao, China.

Las Vegas Sands (NYSE: LVS) has published its 2022 ESG report, detailing significant progress towards its 2025 goals in workforce development, community support, and emissions reduction. By 2022, the company has invested $56 million in workforce initiatives, exceeding its original targets. Volunteer hours reached 192,330, surpassing the 150,000 goal. Additionally, Sands achieved a 50% reduction in greenhouse gas emissions from its 2018 baseline, positioning it well for its 17.5% target by 2025. The company received recognition on the Dow Jones Sustainability Indices and was acknowledged as one of America's Most Responsible Companies.

Las Vegas Sands Corp. (NYSE: LVS) reported its financial results for Q4 2022, revealing a net revenue of $1.12 billion, a 10.8% increase year-over-year. However, the company faced an operating loss of $166 million compared to $138 million the previous year. Despite ongoing travel restrictions impacting revenues, the recovery at Marina Bay Sands has been strong, with record mass gaming revenue. In Macao, the company received a new gaming concession, enhancing future growth potential. The full year 2022 net income reached $1.83 billion, impacted significantly by a $3.60 billion gain from the sale of Las Vegas assets.

Las Vegas Sands and Marina Bay Sands have launched a $1 million scholarship program aimed at fostering new talent in Singapore's hospitality sector through Sands Cares. Expected to benefit over 100 Singaporean students, the initiative will support those pursuing hospitality-related studies at six local institutes. This program, commencing in 2023, aligns with Sands' commitment to enhancing Singapore's tourism industry, anticipated to grow significantly post-pandemic. The scholarships aim to develop future leaders in hospitality, ultimately strengthening the region's position as a global travel hub.

Las Vegas Sands (NYSE: LVS) is set to release its fourth quarter 2022 financial results on January 25, 2023, after market close. The company will conduct a conference call to discuss the results at approximately 1:30 p.m. Pacific Time. A webcast of this call will be available at www.investor.sands.com. Sands is recognized as a leading developer and operator of Integrated Resorts that contribute significantly to tourism and local economies.

Las Vegas Sands (NYSE: LVS) plans to develop a multi-billion-dollar hospitality and casino project on Long Island, New York, following the New York State Gaming Commission's recent Request for Application. The company aims to acquire a long-term lease for the Nassau Veterans Memorial Coliseum site, securing control of up to 80 acres. The project is expected to generate substantial tax revenue and create thousands of jobs, while emphasizing community collaboration and sustainability. It will include luxury hotels, entertainment venues, and a casino occupying less than 10% of the total area.