Losses but Las Vegas Sands still upbeat

Despite the pandemic effects, Las Vegas Sands managed to generate positive EBITDA in each of its markets in the third quarter of 2021, reported CEO Robert Goldstein.

“We remain enthusiastic about the opportunity to welcome more guests back to our properties as greater volumes of visitors are eventually able to travel to Macau and Singapore.”

Net revenue for the quarter was $857m compared with $446m in the prior year quarter. Operating loss was $316m compared to a loss of $523m and the net loss was $594m compared with $664m. EBITDA was $47m compared with a minus figure of $164m.

In March LVS entered into a deal to sell its Las Vegas property and operations for $625bn and that should close in the first quarter of 2022.