Las Vegas Sands ‘learning, observing, talking’ about online gambling future

Casino operator Las Vegas Sands lost its founder earlier this month and lost another $376m in the final quarter of 2020.

Figures released Wednesday show Sands generated revenue of $1.15b in the three months ending December 31, a decline of 67.3% from Q4 2019. On the plus side, the sum represented nearly twice the $586m Sands reported in Q3 2020. Adjusted earnings of $141m were an improvement over Q3’s $203m earnings loss, but Sands still booked a net loss of $376m in Q4 (half the sum lost in Q3).   

For the annus horribilis as a whole, revenue was down nearly three-quarters to $3.6b, while Sands booked a net loss of $2.14b versus a net profit of $3.3b in 2019. 

The Sands China operations in Macau saw Q4 revenue slide 70% to $675m. Singapore’s Marina Bay Sands (MBS) resort fared better, with Q4 revenue down ‘only’ 60% to $345m, while the Las Vegas casinos tumbled 68.4% to $150m.