- Recovery in Travel and Tourism Spending in both Macao and Singapore Progressed During the Quarter
- Net Revenue of $2.54 billion and Net Income of $368 million
- Consolidated Adjusted Property EBITDA Reached $973 million, our Strongest Financial Performance since 2019
- Marina Bay Sands Adjusted Property EBITDA Reached $432 million
- Macao Adjusted Property EBITDA Reached $541 million
- Resumption of Return of Capital Program; Reinstatement of Quarterly Dividend at $0.20 per share
"We were pleased to see the robust recovery in travel and tourism spending underway in both Macao and Singapore progress during the quarter. We remain enthusiastic about the opportunity to welcome more guests back to our properties throughout the remainder of 2023 and in the years ahead," said Robert G. Goldstein, chairman and chief executive officer.
"In Singapore, Marina Bay Sands again delivered outstanding levels of performance in all segments, with mass gaming revenue reaching another record result. We remain energized by the opportunity to introduce our new suite product and elevated service offerings to more customers as airlift capacity continues to improve and the recovery in travel and tourism spending from China and the wider region continues.
"In Macao, we were pleased to see the ongoing recovery now underway in all gaming and non-gaming segments progress during the quarter. We remain deeply enthusiastic about the opportunity to continue our investments to enhance Macao's tourism appeal to travelers from throughout the region, including to foreign visitors to Macao. Our decades-long commitment to making investments that enhance the business and leisure tourism appeal of Macao and support its development as a world center of business and leisure tourism positions us exceedingly well to deliver strong growth as visitation to the market increases and the recovery in travel and tourism spending proceeds.
"Looking ahead, our resolute commitment to making industry-leading investments in our team members, our communities and our market-leading Integrated Resort property portfolio positions us exceptionally well to deliver strong growth in the years ahead. Our financial strength supports our ongoing investment and capital expenditure programs in both Macao and Singapore, our pursuit of growth opportunities in new markets, and the return of capital to stockholders. We are very pleased to reinstate our quarterly dividend this quarter."
The company announced the resumption of its program to return capital to stockholders. The company's quarterly dividend has been reinstated at $0.20 per common share. The next dividend will be paid on August 16, 2023, to Las Vegas Sands stockholders of record on August 8, 2023.
Net revenue was $2.54 billion, compared to $1.05 billion in the prior year quarter. Operating income was $537 million, compared to an operating loss of $147 million in the prior year quarter. Net income from continuing operations in the second quarter of 2023 was $368 million, compared to a net loss from continuing operations of $414 million in the second quarter of 2022.
Consolidated adjusted property EBITDA was $973 million, compared to $209 million in the prior year quarter.
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