Operator News
China – Sands almost doubles Q3 earnings
By Phil - 22 October 2021
Las Vegas Sands generated net revenue of $857m, compared to $446m in the prior year quarter.
Operating loss was $316m, compared to $523m in the prior year quarter. Net loss from continuing operations in
the third quarter of 2021 was $594m, compared to $664m in the third quarter of 2020. Consolidated adjusted property EBITDA was $47m, compared to $163m in the prior year
quarter.
“While heightened pandemic-related restrictions impacted our financial results this quarter, we were able
to generate positive EBITDA in each of our markets. We remain enthusiastic about the opportunity to
welcome more guests back to our properties as greater volumes of visitors are eventually able to travel to
Macao and Singapore,” said Robert G. Goldstein, chairman and chief executive officer. “We also remain
deeply committed to supporting our team members and to helping those in need in each of our local
communities as they recover from the impact of the COVID-19 pandemic.”
“We remain confident in the eventual recovery in travel and tourism spending across our markets.
Demand for our offerings from customers who have been able to visit remains strong, but pandemicEXHIBIT 99.1
related travel restrictions in both Macao and Singapore continue to limit visitation and hinder our current
financial performance.”
“Our industry-leading investments in our team members, our communities, and our market-leading
Integrated Resort offerings position us exceedingly well to deliver growth as these travel restrictions
eventually subside and the recovery comes to fruition. We are fortunate that our financial strength
supports our investment and capital expenditure programs in both Macao and Singapore, as well as our
pursuit of growth opportunities in new markets.”
In March 2021, LVS entered into definitive agreements to sell its Las Vegas real property and operations
for an aggregate purchase price of approximately $6.25bn and anticipates the transaction to close in
the first quarter of 2022. The financial position, results of operations and cash flows of the Las Vegas
Operating Properties have been presented as a discontinued operation held for sale.
