Casino operator Las Vegas Sands saw its Q4 profits as its mass market tables had their best quarter since 2014.
Figures released Wednesday show Sands revenue rising 11.7% to $3.44b in the three months ending December 31, while operating income shot up 53.5% to $1.36b and net income soared nearly 138% to $1.21b (although $526m of this gain was attributed to a one-time, non-cash benefit thanks to the new US tax bill).
For the year as a whole, revenue totaled $12.9b compared to just $8.8b in 2016, while operating income rose 39% to $3.46b and net income rose 68% to $2.81b.
Sands CEO Sheldon Adelson – who joked on the analyst call that his middle initial no longer stood for Gary but Growth, “so I’m now Sheldon ‘Growth’ Adelson” – said he was “extremely pleased” by the performance, which allowed the company to boost its quarterly ‘yay’ dividends while also repurchasing $75m worth of Sands stock.