written and last updated by
Sam Smith at
20 Oct 2022
Journalist, Editorial Department
Las Vegas Sands reported a revenue of $1.01 billion for the third quarter of 2022, up from $857 million in the same period last year. Overall, the company's financial department recorded an 18% increase in revenue.
The operating loss for the third quarter of 2022 was $177 million, a significant improvement compared to the $316 million loss reported in the previous year. The net loss from continuing operations stood at $380 million, down from $594 million in 2021.
Consolidated EBITDA rose dramatically from $47 million to $191 million, marking a 306% increase.
However, total revenue for Sands China plummeted by 59%, falling from $611 million in the third quarter of 2021 to $251 million in the same period of 2022. The loss in this segment amounted to $472 million, continuing a downward trend from last year's figure of $423 million.
Robert G. Goldstein, Chairman and CEO of Las Vegas Sands, commented, "While travel restrictions in China continued to impact our financial results this quarter, we were pleased to see progress in the recovery of the Singapore market. The EBITDA for Marina Bay Sands reached $343 million."
Goldstein also expressed optimism for the future, noting that the group's hotels are poised to welcome many more tourists. With the Macau market effectively reopening, the company is hopeful for strong results in the final quarter of 2022.
The Venetian Macao led operations in the city with a revenue of $104 million, followed by The Londoner and The Plaza, as well as Four Seasons, each generating $57 million. The Parisian and Sands reported total revenues of $21 million and $11 million, respectively. Meanwhile, Marina Bay Sands achieved a revenue of $756 million.
Additionally, it is worth noting that operator BetNation has entered into an agreement with provider Stakelogic.
