Las Vegas Sands, one of the world's largest casino operators, has reported a 65 per cent drop in fourth-quarter earnings to US$39.9m, as expenses rose due to the construction of multiple resorts.
Group revenue rose to $1.05bn from the $636.3m posted in the same period in 2006, bolstered by the now fully operational Venetian resort, which opened its doors in Macau in August last year.
Commenting on the results, Las Vegas Sands president and COO, William Weidner, said: “We remain confident…that the execution of our development strategy for the Cotai Strip will deliver tremendous economic benefits to Macau and the entire region, as well as industry-leading returns to our shareholders.
“In Las Vegas, we opened The Palazzo, completing our master-plan of the largest integrated destination resort in the world and setting the stage for strong growth and industry-leading returns in the Las Vegas market for years to come."
