Year of promise for Las Vegas Sands in Asia

Results from Las Vegas Sands’ fourth quarter of 2019 show an increase of one per cent in net revenues over the previous year at $3.51bn.

Operating income was up 6.9 per cent to $934m and net income increased to $783m compared with a net loss of $40m in the previous year.

The company, one of the world’s largest developers and operators of convention-based integrated resorts, was able to show year-end total revenues of $13.74bn. Annual net income was $3.3bn. Full year operating income was down 1.4 per cent to $3.7bn, compared with $3.75bn in 2018 due to increased corporate expense.

Chairman Sheldon Adelson said: “We remain enthusiastic about our future growth opportunities in Asia. This year, we will introduce approximately two million square feet of luxurious suite accommodations on the Cotai Strip with the opening of the Grand Suites at Four Seasons Macao and The Londoner Tower Suites.

“Additional tourism and entertainment amenities of The Londoner Macao will debut throughout 2020 and 2021. Looking further ahead, the expansion of Marina Bay Sands in Singapore will meaningfully increase our suite capacity and introduce a state-of-the-art entertainment arena, both of which should contribute to future growth. We are also aggressively pursuing additional development opportunities in new markets, including Japan.”