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Dec 31, 2019
Las Vegas Sands Q4 2019 Earnings Report
Las Vegas Sands reported solid financial results with increased revenue and adjusted property EBITDA in Q4 2019.
Key Takeaways
Las Vegas Sands Corp. reported a 1.0% increase in net revenue to $3.51 billion for the fourth quarter of 2019. Operating income increased 6.9% to $934 million, and net income rose to $783 million. The company's adjusted property EBITDA reached $1.39 billion, driven by growth in Singapore.
Consolidated net revenue reached $3.51 billion.
Net income was $783 million, with GAAP earnings per diluted share at $0.82 and adjusted earnings per diluted share at $0.88.
Consolidated adjusted property EBITDA was $1.39 billion; hold-normalized adjusted property EBITDA was $1.31 billion.
The company repurchased $300 million of 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 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
Las Vegas Sands is focused on future growth opportunities in Asia, with upcoming suite accommodations on the Cotai Strip and the expansion of Marina Bay Sands in Singapore. The company is also pursuing development opportunities in new markets, including Japan, and is committed to increasing capital returns to shareholders.
Positive Outlook
- Introduction of approximately two million square feet of luxurious suite accommodations on the Cotai Strip.
- Opening of the Grand Suites at Four Seasons Macao and The Londoner Tower Suites.
- Debut of additional tourism and entertainment amenities of The Londoner Macao throughout 2020 and 2021.
- Expansion of Marina Bay Sands in Singapore to increase suite capacity and introduce a state-of-the-art entertainment arena.
- Aggressive pursuit of additional development opportunities in new markets, including in Japan.
Challenges Ahead
- General economic conditions
- Disruptions or reductions in travel
- Natural or man-made disasters
- Pandemics, epidemics, or outbreaks of infectious or contagious diseases such as the coronavirus originating in Wuhan, China
- Government regulation and risks relating to gaming licenses and subconcession
Revenue & Expenses
Visualization of income flow from segment revenue to net income