Las Vegas Sands reports declines in Q4 revenue, profit

Las Vegas Sands reported a net revenue of $2.9 billion for the fourth quarter of 2024, a slight decline of 0.7% year-on-year, while operating income fell to $590 million from $710 million. In Macau, where the company faces challenges, revenue declined by approximately 5%, with visitor spending still lagging behind pre-pandemic levels. Sands China, a subsidiary, also experienced a drop in Adjusted Property EBITDA to $571 million, affected by low hold on rolling play and ongoing renovations at key properties. Despite these short-term setbacks, the company's full-year results showed a positive trend, with an 8.4% increase in net revenues to $7.08 billion and a net income of $1.05 billion. CEO Robert Goldstein emphasized the company's commitment to enhancing Macau's appeal as a global tourism hub amidst the ongoing recovery. The company continues to invest in capital projects and return excess capital to shareholders through buybacks and dividends.