The turnover of
Las Vegas Sands in the first quarter of the year has suffered greatly due to the Covid-19 crisis that affected both its business in Macao and in the United States. At the results level, a year-on-year drop of 51% is reported, to 1,782 million dollars (1,646 million euros) as a consequence of travel restrictions and social distancing measures imposed to stop the spread of the virus.
In this way, the company's casino business reduced its activity by 55.8% in the first quarter, to 1,177 million dollars (1,087 million euros); the accommodation division billed 268 million dollars (247 million euros), 40.4% less; the restaurant business decreased by 40%, to 139 million dollars (128 million euros); while the purchasing area billed 35% less, up to $ 103 million (95 million euros).
Las Vegas Sands paid on March 26 what was its last dividend since the listed company has announced that it suspends the payment of these incentives to its shareholders until further notice.
"Despite this harsh reality, the strength of our balance sheet will allow us to emerge from this pandemic with all of our future growth opportunities completely intact," explained
Adelson, who assured that the company will continue executing its investment plan in the centers of Macao and Singapore, the main sources of income for the company.
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