Sands China has revealed a stark rise in revenue, topping some $1.62 billion for the second quarter, up from $368 million in the same period of last year. The group’s adjusted property EBITDA also increased to $541 million, reversing a loss registered in 2Q22.
Speaking of the results, Robert G. Goldstein, chairman and CEO of Las Vegas Sands, noted that “in Macao, we were pleased to see the ongoing recovery now underway in all gaming and non-gaming segments progress during the quarter.”.
Net income for Sands China totaled $187 million, reversing a loss of $422 million in 2Q22, even as capex rose to $196 million, including construction costs of $42 million.
Goldstein notes that “Our financial strength supports our ongoing investment and capital expenditure programs in both Macau and Singapore.”
Regarding Singapore, the group saw solid returns, with “outstanding levels of performance in all segments” and mass gaming revenue “reaching another record”.
Overall casino revenues for LVS topped out at $1.86 billion, a stark rise from the $709 million in 2Q22, while profit rose to $312 million, compared to a loss of $290 million in the same quarter of last year.
Marina Bay Sands brought in $925 million in net revenue, far surpassing the individual Macau properties. These, however, brought in some $1.62 billion in net revenue. Property EBITDA for MBS was also higher than Macau’s properties, totaling $432 million, whereas the highest-grossing property in Macau was the Venetian, at $252 million (reversing a loss of $21 million in 2Q22).