Las Vegas Sands, known for its iconic integrated resorts, has reported a significant financial turnaround for the year ended December 31, 2023. The company's net revenues soared to $10.37 billion, a 152.4% increase from the previous year's $4.11 billion. This surge was primarily attributed to the lifting of COVID-19 restrictions in Macao and Singapore, which led to a resurgence in visitation and gaming activities. Operating income also reflected this positive trend, with the company reporting $2.31 billion, a stark contrast to the previous year's operating loss of $792 million. Net income from continuing operations stood at $1.43 billion, recovering from a net loss of $1.54 billion in the prior year. The company's strategic business developments included the acquisition of Nassau Coliseum with the intent to...Show More

Las Vegas Sands, known for its iconic integrated resorts, has reported a significant financial turnaround for the year ended December 31, 2023. The company's net revenues soared to $10.37 billion, a 152.4% increase from the previous year's $4.11 billion. This surge was primarily attributed to the lifting of COVID-19 restrictions in Macao and Singapore, which led to a resurgence in visitation and gaming activities. Operating income also reflected this positive trend, with the company reporting $2.31 billion, a stark contrast to the previous year's operating loss of $792 million. Net income from continuing operations stood at $1.43 billion, recovering from a net loss of $1.54 billion in the prior year. The company's strategic business developments included the acquisition of Nassau Coliseum with the intent to secure a casino license in New York, and the advancement of Phase II of The Londoner Macao. Renovations at Marina Bay Sands are nearing completion, with the company announcing further enhancements. Looking ahead, Las Vegas Sands has a robust balance sheet with $5.11 billion in unrestricted cash and cash equivalents, and access to significant borrowing capacity, positioning it well to support ongoing operations and complete major construction projects.