Casino operator Las Vegas Sands quarterly profit, revenue slip on weak Macau business
LVS•Key financial details
- Shares of the Nevada-based company fell about 6% in extended trading.
- The company operates integrated resorts and casinos such as Marina Bay Sands in Singapore and six properties in Macau, including the Venetian Macau.
- Total revenue from its Macau operations marginally fell from a year earlier to $1.79 billion.
- The company reported quarterly profit of $373 million, or 53 cents per share, compared with $519 million, or 66 cents per share, a year ago.
- Total quarterly revenue fell 0.7% to $3.15 billion.
Second-quarter results fall on weak Macau business
July 22 (Reuters) - Casino operator Las Vegas Sands reported a decline in second-quarter profit and revenue on Wednesday, as unusually low hold in rolling play in its Macau operations countered growth in gaming volumes.
Gambling revenue from Macau fell in June as bettors shifted spending to the FIFA World Cup, while weakness in cryptocurrencies and tighter controls on capital flows added further pressure.
