Popular holiday resort and casino Las Vegas Sands reported a significant rise in revenue through the first quarter of 2024, with a 39.6% increase on last year’s numbers during the same time frame.
The first quarter this year ended March 31st, with Las Vegas Sands reporting net revenue figures of $2.96Billion as well as disclosing a net income of $583Million during the first Q this year.
Las Vegas Sands also repurchased a reported $450m of common stock during Q1 with the shareholder’s best wishes in mind.
The casino and resort chairman and CEO, Robert G Goldstein, said: “We were pleased with our financial and operating results for the quarter, which reflect strong growth in both Macao and Singapore.
“We remain deeply enthusiastic about our opportunities to deliver growth in both markets in the years ahead, as we execute our substantial capital investment programs in both Macao and Singapore.”
Macau And Singapore Partners Enjoy Success
The Las Vegas Sands report also covers both partner properties in Macau and Singapore. Net revenue increased by 42% in Singapore to $1.80bn while net income rose to $297 for Q1.
Despite encountering multiple problems during Q1 this year, adjusted property in Macau came to around $610m earnings before interest, taxes, depreciation, and amortization.
Q1 this year saw a noticeable rise in figures from Q4 in 2023, with Las Vegas Sands reporting net revenue of $2.92 billion at the end of last year – $40 million less than the first quarter of this year.
Despite the significant increase in revenue this year, figures still remain well below the numbers Ls Vegas Sands was bringing in pre-Covid 19 with profits still yet to return to their former glory.
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