Las Vegas Sands reports $1.45bn in net income for FY2024

Operating income for FY2024 was reported to be $2.4bn, which represents an increase of 3.9% from the prior year period.

Las Vegas Sands has released the company’s financial results for the fourth quarter of 2024 as well as the full year (FY), reporting a Q4 2024 net revenue of $2.9bn which represents a decrease of 0.7% year-over-year. 

Operating income and net income also saw decreases during Q4 2024, falling by 16.9% and 16.4% year-over-year, respectively, for reported totals of $590m and $392m. Consolidated adjusted property EBITDA was reported to be $1.11bn during the fourth quarter of 2024, representing a decrease of 7.5% from the prior year period. 

“We continued to execute our strategic objectives during the quarter. We remain enthusiastic about our opportunities to deliver industry-leading growth in both Macao and Singapore in the years ahead as we execute our capital investment programs in both markets,” Las Vegas Sands Chairman and CEO Robert 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.”

Total net revenue for Sands China was reported to be $1.76bn for Q4 2024, decreasing by 5% from the prior year period, while net income fell by 17.7% year-over-year for a total of $237m. 

Good to know: UNLV received a $15m donation from Las Vegas Sands on December 9 in order to develop a new institute designed to promote appreciation and understanding of Chinese language, traditions and history

Macao’s adjusted property EBITDA was $571m and said to have been negatively impacted by $22m from a low hold on rolling play. Marina Bay Sands’ adjusted property EBITDA was reported to be $537m, which managed to see a positive impact of $2m due to a high hold on rolling play. 

During the fourth quarter of 2024, Las Vegas Sands repurchased $450m of its common stock and $250m of its Sands China common stock, which increased its ownership percentage to 72.3% as of January 7, 2025. 

For FY2024, operating income was reported to be $2.4bn, increasing by 3.9% from the prior year period, while net income managed to rise by nearly 18.9% year-over-year for a total of $1.45bn. Sands China also managed to increase its net revenues and net income for FY 2024, reporting totals of almost $7.1bn and $1.1bn, respectively, representing increases of 8.4% and 50.9%. 

Capital expenditures during the fourth quarter of 2024 totaled $547m, including construction, development and maintenance activities of $345m in Macao and $194m at Marina Bay Sands.

Kirk Geller

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