Las Vegas Sands Reports Fourth Quarter 2024 Results
Las Vegas Sands (NYSE: LVS) reported Q4 2024 financial results with net revenue of $2.90 billion, down 0.7% year-over-year, and net income of $392 million, compared to $469 million in Q4 2023. The company achieved consolidated Adjusted Property EBITDA of $1.11 billion, with Macao contributing $571 million and Marina Bay Sands adding $537 million.
During Q4, LVS repurchased $450 million of common stock at an average price of $51.10 and acquired $250 million of SCL stock, increasing ownership to 72.3%. The company maintains strong liquidity with $3.65 billion in unrestricted cash and $4.44 billion available in credit facilities. Total debt stood at $13.62 billion.
For full-year 2024, operating income reached $2.40 billion with net income of $1.45 billion ($1.96 per diluted share), showing improvement from 2023's $1.22 billion ($1.60 per diluted share).
Las Vegas Sands (NYSE: LVS) ha riportato i risultati finanziari del Q4 2024, con un fatturato netto di 2,90 miliardi di dollari, in calo dello 0,7% rispetto all'anno precedente, e un utile netto di 392 milioni di dollari, rispetto ai 469 milioni di dollari del Q4 2023. L'azienda ha registrato un EBITDA della proprietà consolidato aggiustato di 1,11 miliardi di dollari, con Macao che contribuisce per 571 milioni di dollari e Marina Bay Sands che aggiunge 537 milioni di dollari.
Durante il Q4, LVS ha riacquistato 450 milioni di dollari di azioni ordinarie a un prezzo medio di 51,10 dollari e ha acquisito 250 milioni di dollari di azioni SCL, aumentando la proprietà al 72,3%. L'azienda mantiene una forte liquidità con 3,65 miliardi di dollari in contante non vincolato e 4,44 miliardi di dollari disponibili in linee di credito. Il debito totale ammonta a 13,62 miliardi di dollari.
Per l'anno intero 2024, l'utile operativo ha raggiunto 2,40 miliardi di dollari con un utile netto di 1,45 miliardi di dollari (1,96 dollari per azione diluita), mostrando un miglioramento rispetto all'utile di 1,22 miliardi di dollari del 2023 (1,60 dollari per azione diluita).
Las Vegas Sands (NYSE: LVS) reportó los resultados financieros del cuarto trimestre de 2024, con ingresos netos de 2.90 mil millones de dólares, una disminución del 0.7% en comparación con el año anterior, y un ingreso neto de 392 millones de dólares, en comparación con 469 millones de dólares en el cuarto trimestre de 2023. La compañía logró un EBITDA de propiedad ajustado consolidado de 1.11 mil millones de dólares, con Macao contribuyendo con 571 millones de dólares y Marina Bay Sands sumando 537 millones de dólares.
Durante el cuarto trimestre, LVS recompró 450 millones de dólares en acciones comunes a un precio promedio de 51.10 dólares y adquirió 250 millones de dólares en acciones de SCL, aumentando su participación al 72.3%. La compañía mantiene una sólida liquidez con 3.65 mil millones de dólares en efectivo no restringido y 4.44 mil millones de dólares disponibles en líneas de crédito. La deuda total fue de 13.62 mil millones de dólares.
Para el año completo 2024, el ingreso operativo alcanzó 2.40 mil millones de dólares con un ingreso neto de 1.45 mil millones de dólares (1.96 dólares por acción diluida), mostrando una mejora en comparación con los 1.22 mil millones de dólares (1.60 dólares por acción diluida) de 2023.
라스베가스 샌드 (NYSE: LVS)는 2024년 4분기 재무 결과를 발표했으며, 순수익이 29억 달러로 작년 대비 0.7% 감소하고, 순이익이 3억 9천 2백만 달러로 2023년 4분기의 4억 6천 9백만 달러에 비해 감소했습니다. 이 회사는 마카오가 5억 7천 1백만 달러, 마리나 베이 샌드가 5억 3천 7백만 달러를 기여하여 11억 1천만 달러의 조정된 부동산 EBITDA를 달성했습니다.
4분기 동안 LVS는 평균 가격 51.10달러로 4억 5천만 달러의 보통주를 재매입하고, SCL 주식도 2억 5천만 달러에 매입하여 소유지를 72.3%로 증가시켰습니다. 이 회사는 36억 5천만 달러의 자유로운 현금과 44억 4천만 달러의 신용 시설을 보유하여 강력한 유동성을 유지하고 있습니다. 총 부채는 136억 2천만 달러에 달했습니다.
2024년 전체 연도에 대해 운영 수익은 24억 달러에 이르고, 순이익은 14억 5천만 달러(희석주당 1.96달러)로, 2023년의 12억 2천만 달러(희석주당 1.60달러)에서 개선된 모습을 보였습니다.
Las Vegas Sands (NYSE: LVS) a publié les résultats financiers du quatrième trimestre 2024, avec des revenus nets de 2,90 milliards de dollars, en baisse de 0,7% par rapport à l'année précédente, et un résultat net de 392 millions de dollars, comparé à 469 millions de dollars au quatrième trimestre 2023. L'entreprise a réalisé un EBITDA consolidé ajusté de 1,11 milliard de dollars, avec Macao contribuant à hauteur de 571 millions de dollars et Marina Bay Sands ajoutant 537 millions de dollars.
Au cours du quatrième trimestre, LVS a racheté 450 millions de dollars d'actions ordinaires à un prix moyen de 51,10 dollars et a acquis 250 millions de dollars d'actions SCL, portant la participation à 72,3%. L'entreprise maintient une forte liquidité avec 3,65 milliards de dollars en liquidités non restreintes et 4,44 milliards de dollars disponibles dans les facilités de crédit. La dette totale s'élevait à 13,62 milliards de dollars.
Pour l'année 2024 dans son ensemble, le résultat d'exploitation a atteint 2,40 milliards de dollars avec un résultat net de 1,45 milliard de dollars (1,96 dollar par action diluée), indiquant une amélioration par rapport à 1,22 milliard de dollars (1,60 dollar par action diluée) en 2023.
Las Vegas Sands (NYSE: LVS) hat die finanziellen Ergebnisse für das vierte Quartal 2024 bekannt gegeben, mit einem Nettoumsatz von 2,90 Milliarden Dollar, was einem Rückgang von 0,7% im Vergleich zum Vorjahr entspricht, und einem Nettogewinn von 392 Millionen Dollar, im Vergleich zu 469 Millionen Dollar im vierten Quartal 2023. Das Unternehmen erzielte ein konsolidiertes Adjusted Property EBITDA von 1,11 Milliarden Dollar, wobei Macao 571 Millionen Dollar und Marina Bay Sands 537 Millionen Dollar beitrugen.
Im vierten Quartal hat LVS Aktien im Wert von 450 Millionen Dollar zu einem durchschnittlichen Preis von 51,10 Dollar zurückgekauft und Aktien von SCL im Wert von 250 Millionen Dollar erworben, wodurch die Beteiligung auf 72,3% erhöht wurde. Das Unternehmen weist eine starke Liquidität mit 3,65 Milliarden Dollar an ungebundenem Bargeld und 4,44 Milliarden Dollar an verfügbaren Kreditlinien auf. Die Gesamtschuld belief sich auf 13,62 Milliarden Dollar.
Für das gesamte Jahr 2024 erreichte das Betriebsergebnis 2,40 Milliarden Dollar, mit einem Nettogewinn von 1,45 Milliarden Dollar (1,96 Dollar pro verwässerter Aktie), was eine Verbesserung im Vergleich zu 2023 mit 1,22 Milliarden Dollar (1,60 Dollar pro verwässerter Aktie) zeigt.
- Full-year 2024 net income increased to $1.45 billion from $1.22 billion in 2023
- Operating income grew to $2.40 billion in 2024 from $2.31 billion in 2023
- Strong liquidity position with $3.65 billion in unrestricted cash
- Quarterly dividend increased to $0.25 per share from $0.20
- Q4 net revenue declined 0.7% year-over-year to $2.90 billion
- Q4 net income decreased to $392 million from $469 million year-over-year
- SCL net revenues decreased 5.0% to $1.76 billion in Q4
- Macao visitor spending remains below pre-pandemic levels
Insights
The Q4 2024 results reveal a complex picture of LVS's operational performance and strategic positioning. While headline numbers show modest pressure with revenue declining
Three key aspects deserve investor attention:
- Regional Performance: Macao's recovery continues but remains below pre-pandemic levels in terms of visitor spend, while Singapore's Marina Bay Sands delivered robust results with
$537 million in EBITDA - Balance Sheet Management: With
$3.65 billion in unrestricted cash and$4.44 billion in available credit facilities, LVS maintains strong liquidity despite$13.62 billion in outstanding debt - Capital Allocation: The increase in quarterly dividend to
$0.25 per share and substantial share repurchases demonstrate a balanced approach to growth investment and shareholder returns
The increase in SCL ownership to
For the quarter ended December 31, 2024
(Compared to the quarter ended December 31, 2023)
- Net Revenue of
$2.90 billion $392 million - Consolidated Adjusted Property EBITDA of
$1.11 billion - Macao Adjusted Property EBITDA of
$571 million - Low Hold on Rolling Play in Macao Negatively Impacted Adjusted Property EBITDA by
$22 million
- Low Hold on Rolling Play in Macao Negatively Impacted Adjusted Property EBITDA by
- Marina Bay Sands Adjusted Property EBITDA of
$537 million - High Hold on Rolling Play at Marina Bay Sands Positively Impacted Adjusted Property EBITDA by
$2 million
- High Hold on Rolling Play at Marina Bay Sands Positively Impacted Adjusted Property EBITDA by
- LVS Repurchased
$450 million - LVS Acquired
$250 million
"We continued to execute our strategic objectives during the quarter. We remain enthusiastic about our opportunities to deliver industry-leading growth in both
"In Macao, the ongoing recovery continued during the quarter, although spend per visitor in the market remains below the levels reached prior to the pandemic. Our decades-long commitment to making investments that enhance the business and leisure tourism appeal of
"In Singapore, Marina Bay Sands continued to deliver outstanding financial and operating performance. Our new suite product and elevated service offerings position us for additional growth as travel and tourism spending in
"Our financial strength and industry-leading cash flow continue to support our ongoing investment and capital expenditure programs in both
"We repurchased
Net revenue was
Consolidated adjusted property EBITDA was
Full year 2024 operating income was
Sands China Ltd. Consolidated Financial Results
On a GAAP basis, total net revenues for SCL decreased
On a GAAP basis, 2024 total net revenues for SCL increased
Other Factors Affecting Earnings
Interest expense, net of amounts capitalized, was
Our effective income tax rate for the fourth quarter of 2024 was
Stockholder Returns
During the fourth quarter of 2024, we repurchased
During the fourth quarter of 2024 and January 2025, we purchased
We paid a quarterly dividend of
Balance Sheet Items
Unrestricted cash balances as of December 31, 2024 were
The company has access to
Capital Expenditures
Capital expenditures during the fourth quarter totaled
Conference Call Information
The company will host a conference call to discuss the company's results on Wednesday, January 29, 2025 at 1:30 p.m. Pacific Time. Interested parties may listen to the conference call through a webcast available on the company's website at www.sands.com.
About Sands (NYSE: LVS)
Sands is the leading global developer and operator of integrated resorts. The company's iconic properties drive valuable leisure and business tourism and deliver significant economic benefits, sustained job creation, financial opportunities for local businesses and community investment to help make its host regions ideal places to live, work and visit.
Sands' portfolio of properties includes Marina Bay Sands® in
Dedicated to being a leader in corporate responsibility, Sands is anchored by the core tenets of serving people, communities and the planet. The company's ESG leadership has led to inclusion on the Dow Jones Sustainability Indices for World and
Forward-Looking Statements
This press release contains forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the discussions of our business strategies and expectations concerning future operations, margins, profitability, liquidity and capital resources. In addition, in certain portions included in this press release, the words "anticipates," "believes," "estimates," "expects," "intends," "plans," "positions," "remains," "seeks," "will" and similar expressions, as they relate to our company or management, are intended to identify forward-looking statements. Although we believe these forward-looking statements are reasonable, we cannot assure you any forward-looking statements will prove to be correct. These statements represent our expectations, beliefs, intentions or strategies concerning future events that, by their nature, involve a number of risks, uncertainties or other factors beyond our control, which may cause our actual results, performance, achievements or other expectations to be materially different from any future results, performance, achievements or other expectations expressed or implied by these forward-looking statements. These factors include, but are not limited to, the risks associated with: our gaming license in
Las Vegas Sands Corp.
Fourth Quarter 2024 Results
Non-GAAP Financial Measures
Within the company's fourth quarter and full year 2024 press release, the company makes reference to certain non-GAAP financial measures that supplement the company's consolidated financial information prepared in accordance with GAAP including "adjusted net income (loss)," "adjusted earnings (loss) per diluted share" and "consolidated adjusted property EBITDA," which have directly comparable GAAP financial measures. The company believes these measures represent important internal measures of financial performance. Set forth in the financial schedules accompanying this press release and presentations included on the company's website are reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures. The non-GAAP financial measure disclosure by the company has limitations and should not be considered a substitute for, or superior to, the financial measures prepared in accordance with GAAP. The definitions of our non-GAAP financial measures and the specific reasons why the company's management believes the presentation of the non-GAAP financial measures provides useful information to investors regarding the company's financial condition, results of operations and cash flows are presented below.
The following non-GAAP financial measures are used by management, as well as industry analysts, to evaluate the company's operations and operating performance. These non-GAAP financial measures are presented so investors have the same financial data management uses in evaluating financial performance with the belief it will assist the investment community in properly assessing the underlying financial performance of the company on a year-over-year and a quarter sequential basis.
Adjusted net income (loss), which is a non-GAAP financial measure, is net income (loss) attributable to Las Vegas Sands excluding pre-opening expense, development expense, gain or loss on disposal or impairment of assets, gain or loss on modification or early retirement of debt, other income or expense and certain nonrecurring corporate expenses, net of income tax. Adjusted net income (loss) and adjusted earnings (loss) per diluted share are presented as supplemental disclosures as management believes they are (1) each widely used measures of performance by industry analysts and investors and (2) a principal basis for valuation of Integrated Resort companies, as these non-GAAP financial measures are considered by many as alternative measures on which to base expectations for future results. These measures also form the basis of certain internal management performance expectations.
Consolidated adjusted property EBITDA, which is a non-GAAP financial measure, is net income (loss) before stock-based compensation expense, corporate expense, pre-opening expense, development expense, depreciation and amortization, amortization of leasehold interests in land, gain or loss on disposal or impairment of assets, interest, other income or expense, gain or loss on modification or early retirement of debt and income taxes. Management utilizes consolidated adjusted property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation. Integrated Resort companies, including Las Vegas Sands, have historically reported adjusted property EBITDA as a supplemental performance measure to GAAP financial measures. In order to view the operations of their properties on a more stand-alone basis, Integrated Resort companies, including Las Vegas Sands, have historically excluded certain expenses that do not relate to the management of specific properties, such as pre-opening expense, development expense and corporate expense, from their adjusted property EBITDA calculations. Consolidated adjusted property EBITDA should not be interpreted as an alternative to income (loss) from operations (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with GAAP. The company has significant uses of cash flow, including capital expenditures, dividend payments, interest payments, debt principal repayments and income tax payments, which are not reflected in consolidated adjusted property EBITDA. Not all companies calculate adjusted property EBITDA in the same manner. As a result, consolidated adjusted property EBITDA as presented by Las Vegas Sands may not be directly comparable to similarly titled measures presented by other companies.
Exhibit 1 | ||||||||
Las Vegas Sands Corp. and Subsidiaries Condensed Consolidated Statements of Operations (In millions, except per share data) (Unaudited) | ||||||||
Three Months Ended | Year Ended | |||||||
December 31, | December 31, | |||||||
2024 | 2023 | 2024 | 2023 | |||||
Revenues: | ||||||||
Casino | $ 2,104 | $ 2,111 | $ 8,303 | $ 7,522 | ||||
Rooms | 317 | 323 | 1,274 | 1,204 | ||||
Food and beverage | 157 | 161 | 607 | 584 | ||||
Mall | 218 | 232 | 755 | 767 | ||||
Convention, retail and other | 100 | 88 | 359 | 295 | ||||
Net revenues | 2,896 | 2,915 | 11,298 | 10,372 | ||||
Operating expenses: | ||||||||
Resort operations | 1,796 | 1,721 | 6,946 | 6,316 | ||||
Corporate | 75 | 64 | 290 | 230 | ||||
Pre-opening | 4 | 2 | 14 | 15 | ||||
Development | 59 | 65 | 228 | 205 | ||||
Depreciation and amortization | 348 | 333 | 1,308 | 1,208 | ||||
Amortization of leasehold interests in land | 15 | 15 | 60 | 58 | ||||
Loss on disposal or impairment of assets | 9 | 5 | 50 | 27 | ||||
2,306 | 2,205 | 8,896 | 8,059 | |||||
Operating income | 590 | 710 | 2,402 | 2,313 | ||||
Other income (expense): | ||||||||
Interest income | 57 | 63 | 275 | 288 | ||||
Interest expense, net of amounts capitalized | (180) | (190) | (727) | (818) | ||||
Other income (expense) | (6) | 9 | 10 | (8) | ||||
Income before income taxes | 461 | 592 | 1,960 | 1,775 | ||||
Income tax expense | (69) | (123) | (208) | (344) | ||||
Net income | 392 | 469 | 1,752 | 1,431 | ||||
Net income attributable to noncontrolling interests | (68) | (87) | (306) | (210) | ||||
Net income attributable to Las Vegas Sands Corp. | $ 324 | $ 382 | $ 1,446 | $ 1,221 | ||||
Earnings per share: | ||||||||
Basic | $ 0.45 | $ 0.50 | $ 1.97 | $ 1.60 | ||||
Diluted | $ 0.45 | $ 0.50 | $ 1.96 | $ 1.60 | ||||
Weighted average shares outstanding: | ||||||||
Basic | 721 | 759 | 735 | 763 | ||||
Diluted | 723 | 760 | 737 | 765 | ||||
Exhibit 2 | ||||||||
Las Vegas Sands Corp. and Subsidiaries Net Revenues and Adjusted Property EBITDA (In millions) (Unaudited) | ||||||||
Three Months Ended | Year Ended | |||||||
December 31, | December 31, | |||||||
2024 | 2023 | 2024 | 2023 | |||||
Net Revenues | ||||||||
The Venetian Macao | $ 682 | $ 748 | $ 2,831 | $ 2,682 | ||||
The Londoner Macao | 518 | 589 | 1,984 | 1,792 | ||||
The Parisian Macao | 228 | 222 | 973 | 879 | ||||
The Plaza Macao and Four Seasons Macao | 223 | 192 | 872 | 779 | ||||
Sands | 86 | 81 | 322 | 322 | ||||
Ferry Operations and Other | 34 | 31 | 125 | 105 | ||||
Macao Operations | 1,771 | 1,863 | 7,107 | 6,559 | ||||
Marina Bay Sands | 1,137 | 1,061 | 4,230 | 3,849 | ||||
Intercompany Royalties | 64 | 60 | 250 | 224 | ||||
Intersegment Eliminations(1) | (76) | (69) | (289) | (260) | ||||
$ 2,896 | $ 2,915 | $ 11,298 | $ 10,372 | |||||
Adjusted Property EBITDA | ||||||||
The Venetian Macao | $ 250 | $ 302 | $ 1,093 | $ 1,054 | ||||
The Londoner Macao | 144 | 190 | 543 | 516 | ||||
The Parisian Macao | 69 | 68 | 297 | 269 | ||||
The Plaza Macao and Four Seasons Macao | 83 | 71 | 321 | 308 | ||||
Sands | 20 | 17 | 56 | 59 | ||||
Ferry Operations and Other | 5 | 6 | 17 | 18 | ||||
Macao Operations | 571 | 654 | 2,327 | 2,224 | ||||
Marina Bay Sands | 537 | 544 | 2,052 | 1,861 | ||||
$ 1,108 | $ 1,198 | $ 4,379 | $ 4,085 | |||||
Adjusted Property EBITDA as a Percentage of Net Revenues | ||||||||
The Venetian Macao | 36.7 % | 40.4 % | 38.6 % | 39.3 % | ||||
The Londoner Macao | 27.8 % | 32.3 % | 27.4 % | 28.8 % | ||||
The Parisian Macao | 30.3 % | 30.6 % | 30.5 % | 30.6 % | ||||
The Plaza Macao and Four Seasons Macao | 37.2 % | 37.0 % | 36.8 % | 39.5 % | ||||
Sands | 23.3 % | 21.0 % | 17.4 % | 18.3 % | ||||
Ferry Operations and Other | 14.7 % | 19.4 % | 13.6 % | 17.1 % | ||||
Macao Operations | 32.2 % | 35.1 % | 32.7 % | 33.9 % | ||||
Marina Bay Sands | 47.2 % | 51.3 % | 48.5 % | 48.4 % | ||||
Total | 38.3 % | 41.1 % | 38.8 % | 39.4 % | ||||
(1) | Intersegment eliminations include royalties and other intercompany services. | |||||||
Exhibit 3 | ||||||||
Las Vegas Sands Corp. and Subsidiaries Non-GAAP Financial Measure Reconciliation (In millions) (Unaudited)
| ||||||||
The following is a reconciliation of Net Income to Consolidated Adjusted Property EBITDA: | ||||||||
Three Months Ended | Year Ended | |||||||
December 31, | December 31, | |||||||
2024 | 2023 | 2024 | 2023 | |||||
Net income | $ 392 | $ 469 | $ 1,752 | $ 1,431 | ||||
Add (deduct): | ||||||||
Income tax expense | 69 | 123 | 208 | 344 | ||||
Other (income) expense | 6 | (9) | (10) | 8 | ||||
Interest expense, net of amounts capitalized | 180 | 190 | 727 | 818 | ||||
Interest income | (57) | (63) | (275) | (288) | ||||
Loss on disposal or impairment of assets | 9 | 5 | 50 | 27 | ||||
Amortization of leasehold interests in land | 15 | 15 | 60 | 58 | ||||
Depreciation and amortization | 348 | 333 | 1,308 | 1,208 | ||||
Development expense | 59 | 65 | 228 | 205 | ||||
Pre-opening expense | 4 | 2 | 14 | 15 | ||||
Stock-based compensation(1) | 8 | 4 | 27 | 29 | ||||
Corporate expense | 75 | 64 | 290 | 230 | ||||
Consolidated Adjusted Property EBITDA | $ 1,108 | $ 1,198 | $ 4,379 | $ 4,085 | ||||
(1) | During the three months ended December 31, 2024 and 2023, the company recorded stock-based compensation expense of
During the years ended December 31, 2024 and 2023, the company recorded stock-based compensation expense of | |||||||||
Exhibit 4 | ||||||||
Las Vegas Sands Corp. and Subsidiaries Non-GAAP Financial Measure Reconciliation (In millions, except per share data) (Unaudited)
| ||||||||
The following is a reconciliation of Net Income Attributable to LVS to Adjusted Net Income: | ||||||||
Three Months Ended | Year Ended | |||||||
December 31, | December 31, | |||||||
2024 | 2023 | 2024 | 2023 | |||||
Net income attributable to LVS | $ 324 | $ 382 | $ 1,446 | $ 1,221 | ||||
Pre-opening expense | 4 | 2 | 14 | 15 | ||||
Development expense | 59 | 65 | 228 | 205 | ||||
Loss on disposal or impairment of assets | 9 | 5 | 50 | 27 | ||||
Other (income) expense | 6 | (9) | (10) | 8 | ||||
Income tax impact on net income adjustments(1) | (14) | (14) | (49) | (43) | ||||
Noncontrolling interest impact on net income adjustments | (1) | 3 | (6) | (10) | ||||
Adjusted net income attributable to LVS | $ 387 | $ 434 | $ 1,673 | $ 1,423 | ||||
The following is a reconciliation of Net Income per Diluted Share to Adjusted Earnings per Diluted Share: | ||||||||
Three Months Ended | Year Ended | |||||||
December 31, | December 31, | |||||||
2024 | 2023 | 2024 | 2023 | |||||
Per diluted share of common stock: | ||||||||
Net income attributable to LVS | $ 0.45 | $ 0.50 | $ 1.96 | $ 1.60 | ||||
Pre-opening expense | 0.01 | — | 0.02 | 0.02 | ||||
Development expense | 0.08 | 0.09 | 0.31 | 0.27 | ||||
Loss on disposal or impairment of assets | 0.01 | 0.01 | 0.07 | 0.03 | ||||
Other (income) expense | 0.01 | (0.01) | (0.01) | 0.01 | ||||
Income tax impact on net income adjustments | (0.02) | (0.02) | (0.07) | (0.06) | ||||
Noncontrolling interest impact on net income adjustments | — | — | (0.01) | (0.01) | ||||
Adjusted earnings per diluted share | $ 0.54 | $ 0.57 | $ 2.27 | $ 1.86 | ||||
Weighted average diluted shares outstanding | 723 | 760 | 737 | 765 | ||||
(1) | The income tax impact for each adjustment is derived by applying the effective tax rate, including current and deferred income tax expense, based upon the jurisdiction and the nature of the adjustment. | |||||||
Exhibit 5 | |||||
Las Vegas Sands Corp. and Subsidiaries Supplemental Data (In millions) (Unaudited)
| |||||
The following reflects the impact on Net Revenues for hold-adjusted win percentage: | |||||
Three Months Ended | |||||
December 31, | |||||
2024 | 2023 | ||||
Macao Operations | $ 38 | $ 68 | |||
Marina Bay Sands | (3) | (91) | |||
$ 35 | $ (23) | ||||
The following reflects the impact on Adjusted Property EBITDA for hold-adjusted win percentage: | |||||
Three Months Ended | |||||
December 31, | |||||
2024 | 2023 | ||||
Macao Operations | $ 22 | $ 40 | |||
Marina Bay Sands | (2) | (71) | |||
$ 20 | $ (31) | ||||
Exhibit 6 | ||||||||
Las Vegas Sands Corp. and Subsidiaries Supplemental Data (Unaudited) | ||||||||
Three Months Ended | Year Ended | |||||||
December 31, | December 31, | |||||||
2024 | 2023 | 2024 | 2023 | |||||
Casino Statistics: | ||||||||
The Venetian Macao: | ||||||||
Table games win per unit per day(1) | $ 9,379 | $ 10,270 | $ 9,576 | $ 9,419 | ||||
Slot machine win per unit per day(2) | $ 381 | $ 416 | $ 386 | $ 420 | ||||
Average number of table games | 664 | 690 | 702 | 672 | ||||
Average number of slot machines | 1,573 | 1,458 | 1,585 | 1,408 | ||||
The Londoner Macao: | ||||||||
Table games win per unit per day(1) | $ 9,616 | $ 10,562 | $ 10,847 | $ 8,251 | ||||
Slot machine win per unit per day(2) | $ 403 | $ 575 | $ 471 | $ 480 | ||||
Average number of table games | 508 | 499 | 431 | 487 | ||||
Average number of slot machines | 1,574 | 1,332 | 1,336 | 1,215 | ||||
The Parisian Macao: | ||||||||
Table games win per unit per day(1) | $ 7,334 | $ 6,875 | $ 6,719 | $ 7,069 | ||||
Slot machine win per unit per day(2) | $ 322 | $ 316 | $ 377 | $ 310 | ||||
Average number of table games | 261 | 273 | 313 | 270 | ||||
Average number of slot machines | 1,117 | 836 | 1,037 | 879 | ||||
The Plaza Macao and Four Seasons Macao: | ||||||||
Table games win per unit per day(1) | $ 22,927 | $ 21,078 | $ 23,446 | $ 19,656 | ||||
Slot machine win per unit per day(2) | $ 159 | $ — | $ 160 | $ 218 | ||||
Average number of table games | 99 | 86 | 101 | 96 | ||||
Average number of slot machines | 49 | 22 | 33 | 62 | ||||
Sands | ||||||||
Table games win per unit per day(1) | $ 6,919 | $ 7,327 | $ 7,283 | $ 5,871 | ||||
Slot machine win per unit per day(2) | $ 251 | $ 276 | $ 269 | $ 264 | ||||
Average number of table games | 106 | 105 | 101 | 129 | ||||
Average number of slot machines | 667 | 507 | 654 | 598 | ||||
Marina Bay Sands: | ||||||||
Table games win per unit per day(1) | $ 16,914 | $ 14,785 | $ 15,272 | $ 12,951 | ||||
Slot machine win per unit per day(2) | $ 901 | $ 840 | $ 892 | $ 869 | ||||
Average number of table games | 495 | 505 | 498 | 514 | ||||
Average number of slot machines | 2,962 | 2,946 | 2,947 | 2,925 | ||||
(1) | Table games win per unit per day is shown before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis. | |||||||||
(2) | Slot machine win per unit per day is shown before deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis. | |||||||||
Exhibit 7 | |||||
Las Vegas Sands Corp. and Subsidiaries Supplemental Data (Unaudited) | |||||
Three Months Ended | |||||
The Venetian Macao | December 31, | ||||
(Dollars in millions) | 2024 | 2023 | Change | ||
Revenues: | |||||
Casino | $ 534 | $ 607 | $ (73) | ||
Rooms | 54 | 49 | 5 | ||
Food and beverage | 16 | 16 | — | ||
Mall | 63 | 66 | (3) | ||
Convention, retail and other | 15 | 10 | 5 | ||
Net revenues | $ 682 | $ 748 | $ (66) | ||
Adjusted Property EBITDA | $ 250 | $ 302 | $ (52) | ||
EBITDA Margin % | 36.7 % | 40.4 % | (3.7)pts | ||
Gaming Statistics | |||||
(Dollars in millions) | |||||
Rolling Chip volume | $ 746 | $ 1,247 | $ (501) | ||
Rolling Chip win %(1) | 1.99 % | 3.27 % | (1.28)pts | ||
Non-Rolling Chip drop | $ 2,309 | $ 2,455 | $ (146) | ||
Non-Rolling Chip win % | 24.2 % | 24.9 % | (0.7)pts | ||
Slot handle | $ 1,467 | $ 1,367 | $ 100 | ||
Slot hold % | 3.8 % | 4.1 % | (0.3)pts | ||
Hotel Statistics | |||||
Occupancy % | 99.5 % | 98.7 % | 0.8pts | ||
Average daily rate (ADR) | $ 205 | $ 202 | $ 3 | ||
Revenue per available room (RevPAR) | $ 204 | $ 200 | $ 4 | ||
(1) | This compares to our expected Rolling Chip win percentage of | |||||||||
Las Vegas Sands Corp. and Subsidiaries Supplemental Data (Unaudited) | |||||
Three Months Ended | |||||
The Londoner Macao | December 31, | ||||
(Dollars in millions) | 2024 | 2023 | Change | ||
Revenues: | |||||
Casino | $ 387 | $ 433 | $ (46) | ||
Rooms | 68 | 92 | (24) | ||
Food and beverage | 22 | 27 | (5) | ||
Mall | 24 | 19 | 5 | ||
Convention, retail and other | 17 | 18 | (1) | ||
Net revenues | $ 518 | $ 589 | $ (71) | ||
Adjusted Property EBITDA | $ 144 | $ 190 | $ (46) | ||
EBITDA Margin % | 27.8 % | 32.3 % | (4.5)pts | ||
Gaming Statistics | |||||
(Dollars in millions) | |||||
Rolling Chip volume | $ 1,849 | $ 2,324 | $ (475) | ||
Rolling Chip win %(1) | 4.33 % | 3.04 % | 1.29pts | ||
Non-Rolling Chip drop | $ 1,631 | $ 1,852 | $ (221) | ||
Non-Rolling Chip win % | 22.6 % | 22.4 % | 0.2pts | ||
Slot handle | $ 1,597 | $ 1,706 | $ (109) | ||
Slot hold % | 3.7 % | 4.1 % | (0.4)pts | ||
Hotel Statistics(2) | |||||
Occupancy % | 98.0 % | 96.8 % | 1.2pts | ||
Average daily rate (ADR) | $ 290 | $ 186 | $ 104 | ||
Revenue per available room (RevPAR) | $ 284 | $ 180 | $ 104 | ||
(1) | This compares to our expected Rolling Chip win percentage of | |||||||||
(2) | During the three months ended December 31, 2024 and 2023, approximately 2,600 and 5,550 rooms, respectively, were available for occupancy. | |||||||||
Las Vegas Sands Corp. and Subsidiaries Supplemental Data (Unaudited) | |||||
Three Months Ended | |||||
The Parisian Macao | December 31, | ||||
(Dollars in millions) | 2024 | 2023 | Change | ||
Revenues: | |||||
Casino | $ 171 | $ 163 | $ 8 | ||
Rooms | 35 | 35 | — | ||
Food and beverage | 14 | 14 | — | ||
Mall | 7 | 9 | (2) | ||
Convention, retail and other | 1 | 1 | — | ||
Net revenues | $ 228 | $ 222 | $ 6 | ||
Adjusted Property EBITDA | $ 69 | $ 68 | $ 1 | ||
EBITDA Margin % | 30.3 % | 30.6 % | (0.3)pts | ||
Gaming Statistics | |||||
(Dollars in millions) | |||||
Rolling Chip volume | $ 60 | $ 31 | $ 29 | ||
Rolling Chip win %(1) | (13.07) % | 6.18 % | (19.25)pts | ||
Non-Rolling Chip drop | $ 821 | $ 778 | $ 43 | ||
Non-Rolling Chip win % | 22.4 % | 21.9 % | 0.5pts | ||
Slot handle | $ 858 | $ 640 | $ 218 | ||
Slot hold % | 3.8 % | 3.8 % | —pts | ||
Hotel Statistics | |||||
Occupancy % | 99.5 % | 98.8 % | 0.7pts | ||
Average daily rate (ADR) | $ 156 | $ 153 | $ 3 | ||
Revenue per available room (RevPAR) | $ 156 | $ 151 | $ 5 | ||
(1) | This compares to our expected Rolling Chip win percentage of | |||||||
Las Vegas Sands Corp. and Subsidiaries Supplemental Data (Unaudited) | |||||
Three Months Ended | |||||
The Plaza Macao and Four Seasons Macao | December 31, | ||||
(Dollars in millions) | 2024 | 2023 | Change | ||
Revenues: | |||||
Casino | $ 142 | $ 95 | $ 47 | ||
Rooms | 30 | 25 | 5 | ||
Food and beverage | 8 | 9 | (1) | ||
Mall | 42 | 62 | (20) | ||
Convention, retail and other | 1 | 1 | — | ||
Net revenues | $ 223 | $ 192 | $ 31 | ||
Adjusted Property EBITDA | $ 83 | $ 71 | $ 12 | ||
EBITDA Margin % | 37.2 % | 37.0 % | 0.2pts | ||
Gaming Statistics | |||||
(Dollars in millions) | |||||
Rolling Chip volume | $ 1,746 | $ 2,387 | $ (641) | ||
Rolling Chip win %(1) | 1.11 % | 0.65 % | 0.46pts | ||
Non-Rolling Chip drop | $ 759 | $ 682 | $ 77 | ||
Non-Rolling Chip win % | 25.1 % | 22.2 % | 2.9pts | ||
Slot handle | $ 29 | $ — | $ 29 | ||
Slot hold % | 2.5 % | — % | 2.5pts | ||
Hotel Statistics | |||||
Occupancy % | 97.3 % | 87.8 % | 9.5pts | ||
Average daily rate (ADR) | $ 498 | $ 474 | $ 24 | ||
Revenue per available room (RevPAR) | $ 485 | $ 416 | $ 69 | ||
(1) | This compares to our expected Rolling Chip win percentage of | |||||||||
Las Vegas Sands Corp. and Subsidiaries Supplemental Data (Unaudited) | |||||
Three Months Ended | |||||
Sands | December 31, | ||||
(Dollars in millions) | 2024 | 2023 | Change | ||
Revenues: | |||||
Casino | $ 78 | $ 72 | $ 6 | ||
Rooms | 5 | 5 | — | ||
Food and beverage | 2 | 3 | (1) | ||
Convention, retail and other | 1 | 1 | — | ||
Net revenues | $ 86 | $ 81 | $ 5 | ||
Adjusted Property EBITDA | $ 20 | $ 17 | $ 3 | ||
EBITDA Margin % | 23.3 % | 21.0 % | 2.3pts | ||
Gaming Statistics | |||||
(Dollars in millions) | |||||
Rolling Chip volume | $ 69 | $ 28 | $ 41 | ||
Rolling Chip win %(1) | 4.49 % | 4.54 % | (0.05)pts | ||
Non-Rolling Chip drop | $ 389 | $ 410 | $ (21) | ||
Non-Rolling Chip win % | 16.5 % | 17.0 % | (0.5)pts | ||
Slot handle | $ 527 | $ 474 | $ 53 | ||
Slot hold % | 2.9 % | 2.7 % | 0.2pts | ||
Hotel Statistics | |||||
Occupancy % | 99.1 % | 98.9 % | 0.2pts | ||
Average daily rate (ADR) | $ 174 | $ 175 | $ (1) | ||
Revenue per available room (RevPAR) | $ 173 | $ 173 | $ — | ||
(1) | This compares to our expected Rolling Chip win percentage of | |||||||||
Las Vegas Sands Corp. and Subsidiaries Supplemental Data (Unaudited) | |||||
Three Months Ended | |||||
Marina Bay Sands | December 31, | ||||
(Dollars in millions) | 2024 | 2023 | Change | ||
Revenues: | |||||
Casino | $ 792 | $ 741 | $ 51 | ||
Rooms | 125 | 117 | 8 | ||
Food and beverage | 95 | 92 | 3 | ||
Mall | 82 | 76 | 6 | ||
Convention, retail and other | 43 | 35 | 8 | ||
Net revenues | $ 1,137 | $ 1,061 | $ 76 | ||
Adjusted Property EBITDA | $ 537 | $ 544 | $ (7) | ||
EBITDA Margin % | 47.2 % | 51.3 % | (4.1)pts | ||
Gaming Statistics | |||||
(Dollars in millions) | |||||
Rolling Chip volume | $ 8,068 | $ 7,240 | $ 828 | ||
Rolling Chip win %(1) | 3.34 % | 4.57 % | (1.23)pts | ||
Non-Rolling Chip drop | $ 2,342 | $ 1,885 | $ 457 | ||
Non-Rolling Chip win % | 21.4 % | 18.9 % | 2.5pts | ||
Slot handle | $ 6,572 | $ 6,226 | $ 346 | ||
Slot hold % | 3.7 % | 3.7 % | —pts | ||
Hotel Statistics(2) | |||||
Occupancy % | 94.3 % | 94.4 % | (0.1)pts | ||
Average daily rate (ADR) | $ 927 | $ 647 | $ 280 | ||
Revenue per available room (RevPAR) | $ 874 | $ 611 | $ 263 | ||
(1) | This compares to our expected Rolling Chip win percentage of | |||||||||
(2) | During the three months ended December 31, 2024 and 2023, approximately 1,600 and 2,200 rooms, respectively, were available for occupancy. | |||||||||
Las Vegas Sands Corp. and Subsidiaries Supplemental Data - Asian Retail Mall Operations (Unaudited) | |||||||||||||
For The Three Months Ended December 31, 2024 | TTM December 31, 2024 | ||||||||||||
(Dollars in millions except per square foot data) | Gross Revenue(1) | Operating Profit | Operating Profit Margin | Gross Leasable Area (sq. ft.) | Occupancy % at End of Period | Tenant Sales Per Sq. Ft.(2) | |||||||
Shoppes at Venetian | $ 63 | $ 56 | 88.9 % | 822,424 | 85.7 % | $ 1,581 | |||||||
Shoppes at Four Seasons | |||||||||||||
Luxury Retail | 31 | 27 | 87.1 % | 163,549 | 100.0 % | 6,831 | * | ||||||
Other Stores | 11 | 10 | 90.9 % | 98,349 | 90.6 % | 2,312 | * | ||||||
42 | 37 | 88.1 % | 261,898 | 96.5 % | 5,379 | ||||||||
Shoppes at Londoner | 24 | 20 | 83.3 % | 566,251 | 72.7 % | 1,457 | |||||||
Shoppes at Parisian | 7 | 4 | 57.1 % | 296,818 | 69.4 % | 489 | |||||||
Total Cotai Strip in | 136 | 117 | 86.0 % | 1,947,391 | 80.9 % | 2,010 | |||||||
The Shoppes at Marina Bay Sands | 82 | 76 | 92.7 % | 615,869 | 99.3 % | 2,878 | |||||||
Total | $ 218 | $ 193 | 88.5 % | 2,563,260 | 85.3 % | $ 2,287 | |||||||
Note: | This table excludes the results of our retail outlets at Sands Macao. | |||||||||
(1) | Gross revenue figures are net of intersegment revenue eliminations. | |||||||||
(2) | Tenant sales per square foot reflect sales from tenants only after the tenant has been open for a period of 12 months. | |||||||||
* | Prior quarter tenant sales per square foot have been reclassified to be consistent with the current period presentation of luxury retail and other stores. | |||||||||
View original content to download multimedia:https://www.prnewswire.com/news-releases/las-vegas-sands-reports-fourth-quarter-2024-results-302363705.html
SOURCE Las Vegas Sands Corp.
FAQ
What was Las Vegas Sands (LVS) Q4 2024 revenue and net income?
How much stock did LVS repurchase in Q4 2024?
What is LVS's new quarterly dividend for Q1 2025?
How did Sands China (SCL) perform in Q4 2024?
What is LVS's current ownership stake in Sands China ?
