Summary by Moomoo AI
Las Vegas Sands, a major player in the hospitality and gaming industry, reported a significant recovery in its financial performance for the quarter ended March 31, 2024. Net revenues surged to $2.96 billion, a 39.6% increase from $2.12 billion in the same period of 2023. This growth was driven by a $687 million rise in net casino revenues, with Macao operations and Marina Bay Sands contributing $421 million and $266 million, respectively. Operating income more than doubled to $717 million from $378 million, while net income quadrupled to $583 million from $145 million year-on-year. The company's business development saw positive trends, with relaxed COVID-19 travel restrictions leading to a 125.8% increase in visitation from mainland China to Macao and a 65.5% rise in gross gaming revenue. In Singapore, the lifting of COVID...Show More