Las Vegas Sands Corp. (LVS) reported lower-than-expected second-quarter 2024 results, with earnings and net revenues missing the Zacks Consensus Estimate. That said, the metrics grew on a year-over-year basis.The quarterly results reflect continuous performance growth in Macao and Singapore, attributable to the company’s committed investment opportunities undertaken to enhance the business and deliver top-tier customer experiences. Travel recovery and improving tourism spending are encouraging for the prosp ...

Part of company's ongoing Community Revitalisation SeriesMACAO, July 25, 2024 /PRNewswire/ -- Sands China Ltd. disclosed the results of its Entrepreneurship Recruitment Programme for Rua das Estalagens, part of the company's ongoing Community Revitalisation Series, at a results announcement ceremony at The Londoner® Macao Thursday.The programme's goal is to fund innovative entrepreneurial proposals from Macao residents interested in starting businesses on Rua das Estalagens – thereby reviving the economy in ...

Financial Data and Key Metrics Changes - The Macau market's total gaming revenues grew by 24% in Q2 2024 compared to Q2 2023, with mass play revenue increasing by 29% [4] - Macau EBITDA was reported at $561 million, with an adjusted EBITDA margin of 32.1%, down 80 basis points from Q2 2023 [7] - Singapore's Marina Bay Sands (MBS) EBITDA reached $512 million, with a margin of 48%, which would have been 220 basis points higher if hold had met expectations [9] Business Line Data and Key Metrics Changes - The Venetian Macau achieved $262 million in EBITDA at a margin of 38.2%, while The Plaza and Four Seasons reported a margin of 40% [22][8] - Singapore's MBS is expected to see significant growth as the capital investment program continues, with Tower gaming set to launch in Q3 2024 [9] Market Data and Key Metrics Changes - The Macau market is projected to exceed $30 billion in gross gaming revenue next year, indicating strong future growth potential [4] - The visitation recovery rate in Macau has decreased, with current levels at about 79% compared to pre-pandemic figures [51] Company Strategy and Development Direction - The company focuses on investing in high-quality assets and maintaining scale to ensure market leadership in Macau [4] - There is a strong interest in exploring new development opportunities in jurisdictions like Thailand, New York, and Texas [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the Macau market's growth despite competitive pressures and ongoing renovations [4][25] - The company anticipates that once renovations are completed, particularly at the Londoner, EBITDA growth and margin expansion will follow [8][25] Other Important Information - The company repurchased $400 million of its stock during the quarter and continues to pay dividends, indicating a commitment to returning capital to shareholders [10] - The ongoing renovations at the Londoner are expected to impact operations, with a significant reduction in available rooms and gaming capacity [70] Q&A Session Summary Question: How is the performance of players and visitors geographically, particularly from Mainland China? - Management noted that there has not been a significant slowdown in visitation from China, with a diverse customer base contributing to stable performance [12] Question: Can the company return to 2019 margin levels in the current environment? - Management indicated that while the Macau market is competitive, they believe they can achieve pre-pandemic margin levels through strategic investments and operational improvements [21][25] Question: What is the impact of the ongoing renovations on performance? - The renovations have led to a temporary decrease in available rooms and gaming capacity, but management expects strong performance once renovations are completed [70] Question: How does the company view the impact of tariffs on the Chinese economy? - Management refrained from making specific predictions but acknowledged the potential impact of economic conditions on visitation and spending [34] Question: What is the company's approach to capital allocation and share repurchases? - The company remains focused on returning capital to shareholders while also investing in growth opportunities, with plans to continue share repurchases [30][74]

For the quarter ended June 2024, Las Vegas Sands (LVS) reported revenue of $2.76 billion, up 8.6% over the same period last year. EPS came in at $0.55, compared to $0.46 in the year-ago quarter.The reported revenue represents a surprise of -2.73% over the Zacks Consensus Estimate of $2.84 billion. With the consensus EPS estimate being $0.59, the EPS surprise was -6.78%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their ...

EXHIBIT 99.1 PRESS RELEASE For Immediate Release Las Vegas Sands Reports Second Quarter 2024 Results For the quarter ended June 30, 2024 • Net Revenue of $2.76 billion and Net Income of $424 million • Consolidated Adjusted Property EBITDA of $1.07 billion • Macao Adjusted Property EBITDA of $561 million ◦ Low Hold on Rolling Play in Macao Negatively Impacted Adjusted Property EBITDA by $4 million • Marina Bay Sands Adjusted Property EBITDA of $512 million ◦ High Hold on Rolling Play at Marina Bay Sands Posi ...

For the quarter ended June 30, 2024Net Revenue of $2.76 billion and Net Income of $424 millionConsolidated Adjusted Property EBITDA of $1.07 billionMacao Adjusted Property EBITDA of $561 millionLow Hold on Rolling Play in Macao Negatively Impacted Adjusted Property EBITDA by $4 millionMarina Bay Sands Adjusted Property EBITDA of $512 millionHigh Hold on Rolling Play at Marina Bay Sands Positively Impacted Adjusted Property EBITDA by $64 millionLVS Repurchased $400 million of Common StockLAS VEGAS, July 24, ...

The Sands Shopping Carnival has welcomed over 540,000 visitors since its 2020 debut, becoming an annual signature event for Sands China. It offers residents and tourists an exciting weekend destination while supporting the Macao SAR government's 'tourism+' strategy, and provides a free business platform for local SMEs and Sands retailers to boost post-pandemic economic revival – creating synergy by featuring both local and international brands at one event.Now in its fifth year, the carnival offered visitor ...

Core Points - The 2024 Nevada Youth Homelessness Summit is scheduled for November 8, 2024, at Las Vegas City Hall, with registration opening on August 5 [1] - The summit aims to address the increasing youth homelessness crisis in Nevada, which has seen a 14% rise in youth experiencing homelessness from 2022 to 2023 [2] - A statewide plan to end youth homelessness is set to begin development in 2025, building on previous efforts and stakeholder collaboration [3] Group 1: Summit Details - The summit is supported by UNLV Greenspun College of Urban Affairs and Las Vegas Review-Journal, focusing on creating a standalone plan to end youth homelessness [1] - Registration fees are $100 until September 30 and $175 starting October 1, with more information on the agenda and speakers to be available upon registration opening [4] Group 2: Stakeholder Involvement - The summit will include diverse stakeholders such as young people with lived experience, social service providers, educators, and policymakers to foster comprehensive solutions [4] - The event aims to unite efforts across Nevada to drive systemic change and create a safer future for vulnerable youth [2][4] Group 3: Context and Challenges - Nevada faces the most extreme shortage of affordable housing in the U.S., with only 14 affordable rentals available for every 100 extremely low-income rental households [2] - The groundwork for the statewide plan will culminate after the completion of the Youth Experiencing Homelessness Study in June 2025, which aims to provide accurate data on youth homelessness in Nevada [3]

LAS VEGAS, July 17, 2024 /PRNewswire/ -- Las Vegas Sands (NYSE: LVS) will release its second quarter 2024 financial results on Wednesday, July 24, 2024, after market close.The company will host a conference call to discuss its results at approximately 1:30 p.m. Pacific Time.A webcast of the conference call will be available at www.investor.sands.com.About Sands (NYSE: LVS)Sands is the leading global developer and operator of integrated resorts.Our iconic properties drive valuable leisure and business touris ...

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