Las Vegas Sands generates $13.74bn in 2019 revenue
Las Vegas Sands made consolidated net revenue of $13.74bn for 2019, a minute year-on-year increase from the $13.73bn it generated for 2018.
This was virtually flat in terms of growth, although net income rose 12% to $3.3bn.
The casino operator, which runs properties in the US and Asia, also posted adjusted property EBITDA of $5.39bn, another marginal increase from 2018’s $5.28bn.
Q4 revenue growth was similarly flat, up just 1% to $3.51bn, while the quarter’s operating income increased 7% to $934m for Las Vegas Sands.
Net income increased to $783m, compared to a net loss of $40m for the corresponding quarter, with consolidated adjusted property EBITDA up 9% to $1.39bn.
Adjusted property EBITDA stood at $811m in Macau and $457m at the Marina Bay Sands in Singapore; adjusted property EBITDA was $120m for the operator’s Las Vegas properties.
Sheldon Adelson, Las Vegas Sands Chairman and CEO, said: “We delivered solid financial results in the quarter.
“We remain enthusiastic about our future growth opportunities in Asia. We are also aggressively pursuing additional development opportunities in new markets, including in Japan.
“Finally, we remain deeply committed to maintaining our industry-leading financial strength while continuing to increase the return of capital to shareholders.”
Adelson also confirmed the company’s annual dividend for 2020 will increase to $3.16 per share, or $0.79 per share per quarter.
Las Vegas Sands’ share price stood at $64.70 after its financial report, although this was down from the previous week, when it reached as high as $69.55.
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