Las Vegas Sands appears firmly on track to deliver record profits this year, with earnings soaring 90 per cent in the second quarter.
The US-based operator’s second quarter revenue of $2.35bn and EBITDA of $901.6m rounded off a record first six months for the company, driven largely by its operations in Macau and Singapore.
Net income for the three months to June 30 reached $367.6m, compared to a net loss of $4.7m in the corresponding period in 2010.
LVS’ Macau properties reported earnings of $391.6m, while the company’s Singapore resort, Marina Bay Sands, generated EBITDA of $405.4m. Its Las Vegas properties, The Venetian and The Palazzo, delivered $92.9m in EBITDA, an increase of 40.8 per cent compared with a year earlier.
“We are pleased to report record financial results for the second quarter of 2011,” the company said. “Strong revenue growth and margin expansion in Macau, together with the continuing ramp of growth in all areas at Marina Bay Sands in Singapore contributed to excellent financial performance overall.”
The company also hinted that it is seeking to expand its operations in Asia with further gaming and hospitality developments in Macau.
