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Mar 31, 2020
Las Vegas Sands Q1 2020 Earnings Report
Las Vegas Sands experienced a significant downturn due to the Covid-19 pandemic, with revenue and operating income decreasing sharply, resulting in a net loss for the quarter.
Key Takeaways
Las Vegas Sands Corp. reported a challenging first quarter in 2020, heavily impacted by the Covid-19 pandemic. Net revenue decreased by 51.1% to $1.78 billion, and operating income fell by 94.3% to $55 million. The company reported a net loss of $51 million, a stark contrast to the $744 million net income in the same quarter of the previous year. The company has suspended its quarterly dividend program due to the impact of the novel coronavirus (“COVID-19”) pandemic.
Net revenue decreased 51.1% year-over-year to $1.78 billion.
Operating income decreased 94.3% year-over-year to $55 million.
Net loss was $51 million, compared to a net income of $744 million in the first quarter of 2019.
The company has suspended its quarterly dividend program due to the impact of the novel coronavirus (“COVID-19”) pandemic.
Las Vegas Sands
Las Vegas Sands
Las Vegas Sands Revenue by Segment
Las Vegas Sands Revenue by Geographic Location
Revenue by Segment
Casino Revenue
CapyFin.comRooms Revenue
CapyFin.comFood & Beverage Revenue
CapyFin.comMall Revenue
CapyFin.comConvention & Other Revenue
CapyFin.comThe Venetian Macao Revenue
CapyFin.comThe Parisian Macao Revenue
CapyFin.comThe Plaza & Four Seasons Revenue
CapyFin.comSands Macao Revenue
CapyFin.comMacao Ferry & Other Revenue
CapyFin.comRevenue by Geographic Location
Marina Bay Sands Revenue
CapyFin.com Forward Guidance
Company remains extremely optimistic about an eventual recovery of travel and tourism spending across its markets, as well as its future growth prospects and Fortunately the financial strength will allow to continue to execute previously announced capital expenditure programs in both Macao and Singapore, while continuing to pursue growth opportunities in new markets
Positive Outlook
- Deep commitment to supporting team members.
- Helping those in need in each of local communities of Macao, Singapore and Las Vegas.
- Balance sheet strength will enable to emerge from this pandemic with all promising future growth opportunities fully intact.
- Extremely optimistic about an eventual recovery of travel and tourism spending across markets.
- Financial strength will allow to continue to execute previously announced capital expenditure programs in both Macao and Singapore.
Challenges Ahead
- Uncertainty of the extent, duration and effects of the COVID-19 pandemic
- Response of governments, including government-mandated property closures or travel restrictions
- Disruptions or reductions in travel, as well as in operations, due to natural or man-made disasters, pandemics, epidemics, or outbreaks of infectious or contagious diseases
- Fluctuations in currency exchange rates and interest rates
- Substantial leverage and debt service