Las Vegas Sands Release Strong Net Revenue for the Q2 of 2023
LISTEN TO THIS ARTICLE:Las Vegas Sands, the gambling and resort operator, has announced it has achieved a Net Revenue of $2.54 billion in Q2 this year, which shows the company is on an upward trajectory.
The casino and entertainment operator boasts the second quarter of 2023 is the strongest since its results in 2019. This translates to trading figures which show a Net Income of $368 million for Q2 with an Adjusted Property EBITDA of $973 million.
Macao and Singapore Performance
The resumption of restriction-free travel has led to increased visitor numbers to the properties in both the Macao and Singapore resorts and brick-and-mortar casinos.
Marina Bay Sands in Singapore has enjoyed record gaming revenue for Q2 of 2023, mainly fueled by the rise in tourism in China. The introduction of a new product suite saw the operator achieve an Adjusted Property EBITDA reaching $432 million.
Senior leadership at Las Vegas Sands stated that operations in Macao were now showing signs of improved progress, with steady revenue growth in the second quarter of this year.
We were pleased to see the robust recovery in travel and tourism spending underway in both Macao and Singapore progress during the quarter. We remain enthusiastic about the opportunity to welcome more guests back to our properties throughout the remainder of 2023 and in the years ahead,
Las Vegas Sands Reinstates Dividends
As the operator goes in the right direction toward achieving results comparable to its pre-Covid trading figures, the company has decided to re-introduce dividends.
Starting in August this year, stockholders at Las Vegas Sands are to receive a quarterly dividend of $0.20 per common share.
Our financial strength supports our ongoing investment and capital expenditure programs in both Macao and Singapore, our pursuit of growth opportunities in new markets, and the return of capital to stockholders. We are very pleased to reinstate our quarterly dividend this quarter.
More Finance News
RELATED TOPICS: Finance
Latest News
Most Read
Must Read
Interviews
Review this New Post
Leave a Comment
User Comments
Comments for Las Vegas Sands Release Strong Net Revenue for the Q2 of 2023