Las Vegas Sands has shared its financial results for the quarter ending December 31, 2024, showing a net revenue of US$2.9bn, a decrease of 0.7 per cent from the prior year quarter.
Against the prior year quarter, operating income was $590m, down from $710m, and net income was $392m, down from $469m.
Full year 2024 operating income, however, was $2.40bn, up from $2.31bn in 2023.
"We remain enthusiastic about our opportunities to deliver industry-leading growth in both Macao and Singapore in the years ahead as we execute our capital investment programmes in both markets," said Robert G. Goldstein, chairman and chief executive officer.
"In Macao, the ongoing recovery continued during the quarter, although spend per visitor in the market remains below the levels reached prior to the pandemic. Our decades-long commitment to making investments that enhance the business and leisure tourism appeal of Macao and support its development as a world centre of business and leisure tourism positions us well as the recovery in travel and tourism spending progresses.
"In Singapore, Marina Bay Sands continued to deliver outstanding financial and operating performance. Our new suite product and elevated service offerings position us for additional growth as travel and tourism spending in Asia expands.
"Our financial strength and industry-leading cash flow continue to support our ongoing investment and capital expenditure programs in both Macao and Singapore, our pursuit of growth opportunities in new markets and our programme to return excess capital to stockholders.
"We repurchased $450m of LVS shares under our share repurchase programme during the quarter and paid our recurring quarterly dividend. LVS also purchased $250m of SCL stock during the quarter and in January of 2025, bringing our ownership interest to 72.3 per cent. We look forward to utilising our share repurchase and dividend programmes to continue to return excess capital to stockholders."
