Las Vegas Sands' Asia business is booming as casino Covid recovery accelerates
Publishing timestamp: 2023-10-19 13:24:20
Summary
Las Vegas Sands announced earnings in line with expectations and a recovery from the pandemic, particularly in Singapore and Macao. The company's adjusted property EBITDA is nearing pre-pandemic levels, and its profit margins have reached over 48%. Las Vegas Sands is laying out new priorities for capital expenditures, including a share repurchase plan and expansion projects in Marina Bay Sands and Macao. The company's strong financial position also positions it well for potential projects in new jurisdictions, such as its proposal for a casino resort in New York.
Sentiment: POSITIVE
Tickers: LVS,
Keywords: breaking news: business, retail industry, sheldon adelson, las vegas sands corp, earnings, business news,
Source: https://www.cnbc.com/2023/10/19/las-vegas-sands-lvs-reports-q3-earnings-and-strong-asia-growth.html