Las Vegas Sands has released its financial figures for the second quarter of 2024, including a net revenue of $2.76bn for the company. The figure represents an 8.7% increase year-over-year as net income also saw an increase from its Q2 2023 figure of $368m, being reported at $424m for the second quarter of 2024.
"Our financial and operating results for the second quarter of 2024 reflect growth in both Macao and Singapore compared to the second quarter of 2023,” Las Vegas Sands Chairman and CEO Robert Goldstein said.
“We remain enthusiastic about our opportunities to deliver industry-leading growth in both markets in the years ahead, as we execute our substantial capital investment programs in both Macao and Singapore.”
Consolidated adjusted property EBITDA was $1.07bn for Q2 2024 compared to $973m for Q2 2023. Operating income increased 10% year-over-year, having been reported at $591m for the second quarter of 2024.
"In Singapore, Marina Bay Sands again delivered strong financial and operating performance. Our new suite product and elevated service offerings position us for additional growth as travel and tourism spending in Asia continues to advance,” Goldstein said.
"Our financial strength and industry-leading cash flow continue to support our ongoing investment and capital expenditure programs in both Macao and Singapore, our pursuit of growth opportunities in new markets and our program to return excess capital to stockholders.”
The company stated it repurchased $400m worth of Las Vegas Sands shares under its share repurchase program during the quarter. It also said it looks forward to utilizing the share repurchase program to continue to return excess capital to stockholders in the future.
Total net revenues for Sands China increased 8% year-over-year to $1.75bn for Q2 2024. Net income was $246m during Q2 2024, compared to $187m in the second quarter of 2023.
