Las Vegas Sands Reports Strong Q2 Earnings and Optimistic Outlook for Macao and Singapore

Las Vegas Sands (LVS) recently held its earnings call for the second quarter of 2024, ending June 30, where executives reported a somewhat bullish outlook for the company. During the call, CEO Rob Goldstein emphasized the positive trajectory of its operations in both Macao and Singapore. Notably, Macao’s total gaming revenues surged by 24% year-over-year, with mass gaming revenue increasing by 29%. This growth reaffirms LVS’s confidence in the market, forecasting gross gaming revenue in Macao to exceed $30 billion in the coming year.

Despite challenges posed by construction disruptions, the company reported solid earnings before interest, taxes, depreciation, and amortization (EBITDA) for the quarter, totaling $561 million for its Macao properties. The Londoner Grand renovation impacted margins, but executives expressed optimism about future growth once the renovations complete. The upcoming reopening of the Londoner Grand Casino in December aims to enhance LVS’s competitive edge, coupled with planned expansions in Singapore expected to attract high-value tourists.

In terms of capital allocation, LVS repurchased $400 million worth of its stock during the quarter, alongside distributing regular dividends to shareholders. Executives reaffirmed their commitment to returning capital while also striving for continued growth in new markets. The company’s strategic investments in high-quality assets, especially in Macao and Singapore, place LVS in a robust position to capitalize on future opportunities as it prepares to emerge from ongoing renovations and rebuild tourism momentum.