Casino operator Las Vegas Sands quarterly profit rises on Macau, Singapore demand
Investing Us
Las Vegas Sands reported a higher first-quarter profit due to strong demand in Macau and Singapore, boosting its stock price.Summary
Las Vegas Sands announced a higher first-quarter profit on Wednesday, with shares rising over 2% in after-hours trading. This increase was primarily driven by strong demand from its businesses in Macau and Singapore. Government data indicates a significant rise in gambling revenue from Macau, boosted by Lunar New Year tourism. The company’s Singapore operations saw a 27.9% revenue increase to $1.49 billion, while Macau operations rose 23.7% to $2.11 billion. The company reported an adjusted profit of 91 cents per share, exceeding analyst expectations of 78 cents per share, with total net revenue increasing 25.3% year-over-year to $3.59 billion.
(Source：Investing Us)