Las Vegas Sands reports fourth quarter 2022 results

 Travel restricciones and reduced visitation continue to impact financial resutls. The recovery at Marina Bay Sands continued to progress during the quarter, with mass gaming revenue reaching an all-time property record
 Las Vegas Sands reported financial resutls for the quarter ended December 31, 2022. "While travel restrictions and reduced visitation continued to impact our financial performance during the quarter, we remain confident in a robust recovery in travel and tourism spending across our markets and deeply enthusiastic about the opportunity to welcome more guests back to our properties throughout 2023 and in the years ahead", said Robert G. Goldstein, chairman and chief executive officer. 

"In Singapore, we were pleased to see the robust recovery continue at Marina Bay Sands during the quarter, with the property delivering record levels of performance in both mass gaming and retail revenue. We are excited to have the opportunity to introduce our new suite product to more customers as airlift capacity improves and growth in visitation from China and the wider region in enabled by the relaxing of travel restrictions". 

Net revenue was 1.12 billion dollars, an increase of 10.8% from the prior year quarter. Operating loss was 166 million dollars, compared to 138 million dollars in the prior year quarter. Net loss from continuing operations in the fourth quarter of 2022 was 269 million dollars, compared to 315 million dollars in the fourth quarter of 2021.

Full year 2022 operating loss was 792 million dollars, compared to 689 million dollars in 2021. Net income attributable to Las Vegas Sands was 1.83 billion dollars in 2022 and included a 3.60 billion dollars gain on sale of our Las Vegas real property and operations. This compared to a net loss of 961 million dollars in 2021.

On a GAAP basis, total net revenues for SCL decreased 31.7%, compared to the fourth quarter of 2021, to 439 million dollars. Net loss for SCL was 348 million dollars, compared to 245 million dollars in the fourth quarter of 2021.

Capital expenditures during the fourth quarter totaled 147 million dollars, including construction, development and maintenance activities of 93 million dollars at Marina Bay Sands, 44 million dollars in Macao and 10 million dollars in Corporate and Other.
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