share_log

Las Vegas Sands | 8-K: Las Vegas Sands Reports First Quarter 2024 Results

SEC announcement ·  Apr 17 16:10
Summary by Moomoo AI
On April 17, 2024, Las Vegas Sands Corp., a premier developer and operator of integrated resorts, reported its financial results for the first quarter ending March 31, 2024. The company announced a net revenue of $2.96 billion and a net income of $583 million. The consolidated adjusted property EBITDA reached $1.21 billion, with significant contributions from Macao and Marina Bay Sands properties. Macao's adjusted property EBITDA stood at $610 million, despite a $31 million negative impact due to low hold on rolling play. Conversely, Marina Bay Sands' adjusted property EBITDA was positively impacted by $77 million due to high hold on rolling play, totaling $597 million. Additionally, Las Vegas Sands repurchased approximately $450 million of its common stock. The company's chairman and CEO, Robert G. Goldstein, expressed satisfaction with the...Show More
On April 17, 2024, Las Vegas Sands Corp., a premier developer and operator of integrated resorts, reported its financial results for the first quarter ending March 31, 2024. The company announced a net revenue of $2.96 billion and a net income of $583 million. The consolidated adjusted property EBITDA reached $1.21 billion, with significant contributions from Macao and Marina Bay Sands properties. Macao's adjusted property EBITDA stood at $610 million, despite a $31 million negative impact due to low hold on rolling play. Conversely, Marina Bay Sands' adjusted property EBITDA was positively impacted by $77 million due to high hold on rolling play, totaling $597 million. Additionally, Las Vegas Sands repurchased approximately $450 million of its common stock. The company's chairman and CEO, Robert G. Goldstein, expressed satisfaction with the quarter's financial and operating results, attributing strong growth to both Macao and Singapore markets. The company's financial strength allowed for continued investment in capital expenditure programs, pursuit of new market opportunities, and return of excess capital to shareholders. The company also announced a quarterly dividend of $0.20 per common share, with the next dividend to be paid on May 15, 2024. As of March 31, 2024, Las Vegas Sands had unrestricted cash balances of $4.96 billion and a total debt outstanding of $13.94 billion. The company's capital expenditures for the quarter totaled $196 million, allocated to various development and maintenance activities across its properties.

This announcement is a separate document:

Doc 1

Doc 2

Disclaimer: This content is for informational and educational purposes only and does not constitute a recommendation or endorsement of any specific investment or investment strategy. Read more