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Dec 31, 2024
Las Vegas Sands Q4 2024 Earnings Report
Las Vegas Sands reported Q4 2024 results with net revenue of $2.90 billion and net income of $392 million.
Key Takeaways
Las Vegas Sands reported a net revenue of $2.90 billion and a net income of $392 million for the fourth quarter of 2024. The company's consolidated adjusted property EBITDA was $1.11 billion. Macao's ongoing recovery continued, while Marina Bay Sands delivered outstanding financial and operating performance.
Net Revenue reached $2.90 billion, with a Net Income of $392 million.
Consolidated Adjusted Property EBITDA amounted to $1.11 billion.
Macao Adjusted Property EBITDA totaled $571 million, negatively impacted by low hold on rolling play.
Marina Bay Sands Adjusted Property EBITDA was $537 million, positively impacted by high hold on rolling play.
Revenue by Segment
Revenue by Geographic Location
Forward Guidance
Las Vegas Sands is focused on delivering industry-leading growth in Macao and Singapore, executing capital investment programs, and returning excess capital to stockholders.
Positive Outlook
- Ongoing recovery in Macao.
- Marina Bay Sands is delivering outstanding financial and operating performance.
- New suite product and elevated service offerings in Singapore position the company for additional growth.
- Financial strength and industry-leading cash flow support ongoing investment and capital expenditure programs.
- Share repurchase and dividend programs continue to return excess capital to stockholders.
Challenges Ahead
- Spend per visitor in Macao remains below pre-pandemic levels.
- Low hold on rolling play in Macao negatively impacted Adjusted Property EBITDA by $22 million.
- High hold on rolling play at Marina Bay Sands positively impacted Adjusted Property EBITDA by $2 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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