Las Vegas Sands Q3 2022 Earnings Report
Key Takeaways
Las Vegas Sands Corp. reported net revenue of $1.01 billion and a net loss from continuing operations of $380 million for the quarter ended September 30, 2022. Marina Bay Sands reached $343 million in adjusted property EBITDA. The company remains confident in the recovery of travel and tourism spending across its markets and is focused on investing in its team members, communities, and Integrated Resort property portfolio.
Travel restrictions continued to impact financial results.
Singapore's recovery continued, with Marina Bay Sands generating adjusted property EBITDA of $343 million.
Investments in the property portfolio position the company for future growth.
Support for local communities remains central to efforts.
Las Vegas Sands
Las Vegas Sands
Las Vegas Sands Revenue by Segment
Las Vegas Sands Revenue by Geographic Location
Forward Guidance
Las Vegas Sands is confident in the recovery of travel and tourism spending across its markets. The company's investments in its team members, communities, and Integrated Resort property portfolio position it well for future growth as travel restrictions subside.
Positive Outlook
- Further progress in Singapore's recovery.
- Marina Bay Sands reaching $343 million in adjusted property EBITDA.
- Opportunity to welcome more guests back to properties as greater volumes of visitors are able to travel to both Singapore and Macao.
- Demand from customers who have been able to visit remains robust.
- Financial strength supports investment and capital expenditure programs in both Macao and Singapore, as well as pursuit of growth opportunities in new markets.
Challenges Ahead
- Travel restrictions continued to impact financial results.
- SCL total net revenues decreased to $251 million, compared to $611 million in the third quarter of 2021.
- Net loss for SCL was $472 million, compared to $423 million in the third quarter of 2021.
- Interest expense, net of amounts capitalized, was $183 million for the third quarter of 2022, compared to $157 million in the prior year quarter.
- Macao casinos were ordered to close from July 11, 2022 to July 22, 2022.
Revenue & Expenses
Visualization of income flow from segment revenue to net income