Net revenue came in at $1.17bn compared to $62m in the Covid-hit prior-year period. Operating losses were trimmed to $139m vs. $757m in Q220.<\/p>\n
Consolidated EBITDA came in at $244m, flat QoQ but less than a quarter of the $1.11bn in Q219. Macau operation adjusted property EBITDA contributed\u00a0 $132m, Singapore $112m.<\/p>\n
The $6.25bn sale of Las Vegas assets due to complete in Q421.<\/p>\n
No angels:<\/strong> Questioned over its newly announced digital strategy, COO Patrick Dumont said any acquisition was unlikely to be \u201ctransformational.\u201d \u201cI don\u2019t think we provide some value at the angel stage. From our standpoint, if we can get in early stage and mid-stage, that\u2019s where we can be really effective. We aren\u2019t just going to buy our way into a business, we will develop our way in.\u201d He also spoke about what LVS sees as limited potential for conflicts from buying a company that worked with any competitors.<\/p>\n \u201cInterestingly our company has seen a lot of changes and one of the things we thought about is we really aren\u2019t conflicted,\u201d Dumont said. \u201cSo it’s a limited universe who are our competitive set. We are a little bit neutral. In a lot of the markets we might want to target we don\u2019t have any B2C operations.\u201d<\/em><\/p><\/blockquote>\n We can rebuild it: <\/strong>CEO Rob Goldstein was keen to stress that the cash from the Vegas assets disposal would be best put to use investing in LVS\u2019s existing operations.<\/p>\n \u201cOur best opportunities are to reinvest in Macau and Singapore. Frankly, they remain our biggest focus because they are so extraordinary and difficult to replicate in the rest of the world,\u201d Goldstein said. \u201cAnd we want to invest heavily in both places because that\u2019s our route to $8-9bn EBITDA.\u201d<\/em><\/p><\/blockquote>\n Jefferies analysts said the company was now a \u201cprimarily a play on the very gradual recovery and investments in Asia.\u201d The Macquarie team noted that the Macau recovery was \u201cnow more of a 2022 story.\u201d They noted that with the combined $2bn of cash at hand combined with the proceeds from the Vegas disposal positioned it well for growth projects in both Macau and Singapore. Credit Suisse noted, though, that details on what the expansion plans might entail were sparse.<\/p>\n Bubble gum:<\/strong> Goldstein noted that the Covid-related issues in Macau and Singapore made the timing of a recovery there doubtful but that the outcome of fully re-engaged markets remained a certainty. Giving some insight into the short-term picture, Sands China COO Grant Chung noted the pace of vaccinations in China remained high at over 10m doses a day and increasing by 10% every 25 days. \u201cWe\u2019re quite confident that if China continues at that rate, when you come to winter 80\/90% will be vaccinated,\u201d said Chung. \u201cThen the travel bubble between China, Hong Kong and Macau is really possible.\u201d<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":" Las Vegas Sands The top line Net revenue came in at $1.17bn compared to $62m in the Covid-hit prior-year period. Operating losses were trimmed to $139m vs. $757m in Q220. Consolidated EBITDA came in at $244m, flat QoQ but less than a quarter of the $1.11bn in Q219. Macau operation adjusted property EBITDA contributed\u00a0 $132m, […]<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","footnotes":""},"categories":[324],"tags":[610,590,612],"class_list":["post-1781","post","type-post","status-publish","format-standard","hentry","category-news","tag-betsson","tag-draftkings","tag-las-vegas-sands"],"_links":{"self":[{"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/posts\/1781","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/comments?post=1781"}],"version-history":[{"count":2,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/posts\/1781\/revisions"}],"predecessor-version":[{"id":1784,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/posts\/1781\/revisions\/1784"}],"wp:attachment":[{"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/media?parent=1781"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/categories?post=1781"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wagers.com\/staging\/4285\/wp-json\/wp\/v2\/tags?post=1781"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Check out these additional articles on Earnings + More today:<\/h3>\n
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