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Jun 30, 2024
Las Vegas Sands Q2 2024 Earnings Report
Las Vegas Sands reported growth in both Macao and Singapore compared to the second quarter of 2023.
Key Takeaways
Las Vegas Sands reported a net revenue of $2.76 billion and a net income of $424 million for the second quarter of 2024. The company's consolidated adjusted property EBITDA was $1.07 billion. They repurchased $400 million of common stock during the quarter.
Net revenue reached $2.76 billion, up from $2.54 billion in the prior year quarter.
Net income was $424 million, compared to $368 million in the second quarter of 2023.
Consolidated adjusted property EBITDA was $1.07 billion, compared to $973 million in the prior year quarter.
The company repurchased $400 million of its common stock during the quarter.
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 Londoner 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
Macao Operations Revenue
CapyFin.comMarina Bay Sands Revenue
CapyFin.com Forward Guidance
The press release does not contain specific forward guidance. It expresses enthusiasm about delivering industry-leading growth in Macao and Singapore, executing capital investment programs, and pursuing growth opportunities in new markets.
Positive Outlook
- Ongoing recovery in Macao.
- Investments enhance business and leisure tourism appeal of Macao.
- Strong financial and operating performance of Marina Bay Sands.
- New suite product and elevated service offerings in Singapore.
- Financial strength and industry-leading cash flow.
Challenges Ahead
- Visitation to Macao remains well below pre-pandemic levels.
- Low hold on rolling play in Macao negatively impacted Adjusted Property EBITDA by $4 million.
- High hold on rolling play at Marina Bay Sands positively impacted Adjusted Property EBITDA by $64 million.
- Weighted average borrowing cost was 5.0% during the second quarter of 2024, compared to 5.4% during the second quarter of 2023.
- Effective income tax rate for the second quarter of 2024 was 14.5%, compared to 11.8% in the prior year quarter.
Revenue & Expenses
Visualization of income flow from segment revenue to net income