Las Vegas Sands Reports Q4 Net Revenue, 166% Higher Than Year Ago
Last week, Las Vegas Sands Corp. (LVS) reported its financial results for the fourth quarter of 2023 (October 1 — December 31). Net revenue showed an increase of 166% compared to the result of Q4 2022, reaching $2.92 billion. Operating income of $710 million and net income of $469 million were also strong quarterly figures. In terms of consolidated adjusted EBITDA, it reached $1.20 billion, a huge difference from $222 million in Q4 2022.
Robert G. Goldstein, LVS’s Chairman and Chief Executive Officer, said that they were extremely pleased with their financial and operating results for that quarter, which reflected the ongoing improvement in the operating environment in both Macau and Singapore. He added that they remained deeply enthusiastic about their opportunities for growth in both Macau and Singapore in the years ahead.
Goldstein also mentioned the recovery across all segments of LVS’s business that continued during Q4. He connected the success gained with the operator’s decades-long commitment to making investments that enhance the business and leisure tourism.
Meanwhile, Las Vegas Sands is interested in expanding its business both in New York and Texas. Goldstein was asked about a New York casino bid and said that it’s very compelling, but they didn’t have any great insight on whether that would happen or not. He added that they worked very hard on that project and believed they had a really good chance of getting a license.
President and chief operation officer Patrick Dumont revealed some details related to the operator’s potential in Texas. He said that the most important thing was that Las Vegas Sands was actively trying to facilitate the development of integrated resorts in the state of Texas and they’re very excited about that. Dumont added that they thought it’s an unbelievable market and they’d like the opportunity to develop some very unique tourism assets, specifically in Dallas.
In other news, KRG sets sights on Fremont to build a racetrack and casino.
