Las Vegas Sands reports Q4 results

Las Vegas Sands, the leading developer and operator of convention-based integrated resorts, has reported financial results for the quarter ended December 31, 2022.

“While travel restrictions and reduced visitation continued to impact our financial performance during the quarter, we remain confident in a robust recovery in travel and tourism spending across our markets and deeply enthusiastic about the opportunity to welcome more guests back to our properties throughout 2023 and in the years ahead,” said Robert G Goldstein, chairman and chief executive officer.

“In Singapore, we were pleased to see the robust recovery continue at Marina Bay Sands during the quarter, with the property delivering record levels of performance in both mass gaming and retail revenue. 

“We are excited to have the opportunity to introduce our new suite product to more customers as airlift capacity improves and growth in visitation from China and  the wider region is enabled by the relaxing of travel restrictions.”

“In Macau, we were gratified to receive a new gaming concession during the quarter, which will enable us to continue our decades-long commitment to making investments that enhance the business and leisure tourism appeal of Macau and support its development as a world centreof business and leisure tourism.  

Net revenue was $1.12bn, an increase of 10.8 per cent from the prior year quarter. Operating loss was $166m, compared to $138m in the prior year quarter.  Net loss from continuing operations in the fourth quarter of 2022 was $269mi, compared to $315m in the fourth quarter of 2021.