Las Vegas Sands achieved gains in net revenue and adjusted earnings, driven by record performance in Singapore. The company reported net revenue of $3.18 billion, a rise from $2.76 billion in the previous year. Operating income reached $783 million, compared to $591 million in 2024, and the net income for the second quarter was $519 million, up from $424 million in the same period in 2024.
Growth in Net Revenue and Adjusted Earnings
Consolidated adjusted property EBITDA was $1.33 billion, up from $1.07 billion a year earlier. “We are optimistic about achieving industry-leading growth in both Macau and Singapore,” stated Robert Goldstein, chairman and CEO, reflecting on the company’s completed capital investment programs.
Sands China Ltd. (SCL) saw a net revenue increase of 2.5% to $1.79 billion compared to the second quarter of 2024. However, SCL’s net income was $214 million, slightly down from $246 million the previous year.
Investment in Growth and Share Buybacks
The Marina Bay Sands in Singapore showcased record financial and operating performance, positioning itself for growth as Asia’s travel and tourism industry expands. Goldstein emphasized the company’s commitment to investing in Macau and Singapore to enhance tourism appeal and facilitate economic development.
Las Vegas Sands repurchased $800 million in shares during the quarter and announced plans to continue this with an additional $1.2 billion authorized for buybacks. The share repurchase program has seen nearly 79 million shares bought at an average price of $44.38, totaling $3.50 billion since late 2023.
The company also increased its stake in SCL, purchasing $179 million in common stock, thus raising its ownership percentage to 73.4% as of July 23rd. Furthermore, Sands paid a quarterly dividend of $0.25 per share, with the next dividend planned for August 13th.
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