Las Vegas Sands’ revenue has continued its climb as its quarterly results for the period ending June 30, 2024 show a net revenue of US$2.76bn, up against $2.54bn the year prior.
Operating income was $591m, compared to $537m in the prior year quarter. Net income in the second quarter of 2024 was $424m, compared to $368m in the second quarter of 2023.
Consolidated adjusted property EBITDA was $1.07bn, compared to $973m in the prior year quarter.
"Our financial and operating results for the second quarter of 2024 reflect growth in both Macao and Singapore compared to the second quarter of 2023. We remain enthusiastic about our opportunities to deliver industry-leading growth in both markets in the years ahead, as we execute our substantial capital investment programs in both Macao and Singapore," said Robert G. Goldstein, chairman and CEO.
"In Macao, the ongoing recovery continued during the quarter, although visitation to the market remains well below the levels reached prior to the pandemic. Our decades-long commitment to making investments that enhance the business and leisure tourism appeal of Macao and support its development as a world centre of business and leisure tourism positions us well as the recovery in travel and tourism spending progresses.
"In Singapore, Marina Bay Sands again delivered strong financial and operating performance. Our new suite product and elevated service offerings position us for additional growth as travel and tourism spending in Asia continues to advance.
"Our financial strength and industry-leading cash flow continue to support our ongoing investment and capital expenditure programs in both Macao and Singapore, our pursuit of growth opportunities in new markets, and our programme to return excess capital to stockholders.
"We repurchased $400m LVS shares under our share repurchase program during the quarter. We look forward to utilising our share repurchase programme to continue to return excess capital to stockholders in the future."
