Las Vegas Sands has reported that consolidated net revenue increased 6.2 per cent to $3.3bn in the second quarter of 2018.
Net income increased 5.8 per cent to $676m. Sheldon Adelson, chairman and CEO, said: “We are pleased to have delivered strong financial results in the quarter, led by robust growth in Macau, where every property in our portfolio delivered growth and adjusted property EBITDA reached $750m, an increase of 25 per cent compared to the second quarter of 2017.
“While lower rolling chip volume and win percentage compared to the year ago quarter impacted our results at Marina Bay Sands in Singapore, the power of our unique convention-based integrated resort business model remains evident in our financial performance, with Singapore delivering $368m of adjusted property EBITDA and Las Vegas performing well despite lower than expected hold on table games play.
“We also continue to invest in growth initiatives in each of our markets while returning excess capital to shareholders through dividends and share repurchases.”