Las Vegas Sands saw its revenue increase by 16.7 percent to US$3.58 billion in the three months to 31 December 2018, including a 17 percent increase from its Macau operations to US$2.16 billion.
Sands China Ltd saw strong growth across all Macau properties except Sands Macao, with the Venetian Macao and Sands Cotai Central leading the way.
The Venetian’s net revenue rose 19.6 percent to US$868 million including a 20.1 percent increase in casino revenues to US$716 million. The results were positive across all segments with rolling chip volume up 27.9 percent to US$7.87 billion and mass drop up 29.9 percent to US$2.24 billion year-on-year. Adjusted Property EBITDA grew 20.4 percent to US$348 million.
Sands Cotai Central, which is slated to be transformed into The Londoner, saw net revenue also rise 19.6 percent to US$549 million.
The positive results came despite a 17.0 percent decline in rolling chip volume to US$2.41 billion, with good luck paving the way via a 3.43 percent win percentage.
Mass table drop grew 19.8 percent to US$1.76 billion with Adjusted Property EBITDA up 40.6 percent to US$201 million.
The Parisian Macao enjoyed a 15.8 percent boost in net revenues to US$359 million, with rolling chip up 23.5 percent to US$4.60 billion and mass table drop up 10.5 percent to US$1.09 billion. Adjusted Property EBITDA rose 41.5 percent to US$116 million.
The Plaza Macao and Four Seasons Hotel also enjoyed good growth, up 38.4 percent to US$191 million thanks to a strong 66.9 percent increase in rolling chip volume to US$3.06 billion and a 37.3 percent boost in mass table drop to US$416 million. Casino revenues at the property grew 54.3 percent to US$142 million as a result.
Sands Macao was the only Macau property to experience overall falls, with net revenue down 13.5 percent to US$154 million. Rolling chip volume suffered a 53.1 percent decline to US$897 million, with mass table drop up slightly to US$657 million. Adjusted Property EBITDA was down 13.0 percent to US$47 million.
Once again, Las Vegas Sands enjoyed particularly strong results at its Singapore IR, Marina Bay Sands, where net revenue grew 26.4 percent year-on-year to US$872 million, including a 32.5 percent increase in casino revenue to US$652 million.
Las Vegas Sands Chairman and CEO Sheldon Adelson said Thursday, “We are extremely pleased to have delivered strong financial results in the quarter.
“Consolidated adjusted property EBITDA reached a record US$1.50 billion, an increase of 30.7 percent compared to the first quarter of 2017. The power of our unique convention-based integrated resort business model was once again on display during the quarter, with record quarterly financial results achieved in Macau, Singapore and Las Vegas. We also continued to invest in growth initiatives in each of our markets while returning excess capital to shareholders.” he said.
