written and last updated by
Sam Smith at
26 Jul 2024
Journalist, Editorial Department
American gaming operator Las Vegas Sands has reported positive financial results for the second quarter of 2024. Revenue from April to June in Macau reached $2.76 billion (nearly 236 billion rubles), marking an 8.6% increase compared to the previous year. In Singapore, revenue rose by 9.8% to $1.02 billion (87.2 billion rubles).
The most profitable gaming venue for the operator in Macau was the Venetian, which generated $686 million (58.65 billion rubles) in revenue. It was followed by the Londoner with $444 million (almost 38 billion rubles) and the Parisian with $265 million (22.66 billion rubles).
Las Vegas Sands CEO Robert Goldstein noted that the recovery in visitor numbers to Macau post-pandemic has slowed somewhat. Nevertheless, he remains optimistic about long-term business growth in the region, particularly with the imminent completion of the Londoner resort expansion.
Commenting on the situation in Singapore, where the operator manages the sole gaming property Marina Bay Sands, Goldstein emphasized that this market is robust and improving daily. "What’s happening in Singapore is almost unprecedented in our industry," he stated.
Regarding Las Vegas Sands' revenue sources, casinos remain the largest contributor, accounting for $2.04 billion (174.4 billion rubles), with a 9.3% increase in the second quarter of this year. The hotel business generated $313 million (26.76 billion rubles), while food and beverage sales brought in $148 million (12.65 billion rubles).
"Our financial and operational results for the second quarter of 2024 reflect progress in both Macau and Singapore compared to the second quarter of 2023. We remain enthusiastic about the opportunities to deliver industry-leading growth in both markets in the coming years as we implement significant capital investment programs," Goldstein said.
It is worth noting that Las Vegas Sands has renewed its efforts to legalize casinos in Texas.
