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Las Vegas Sands Reports Wider Than Expected Loss

By Liz Moyer

Investing.com -- Casino and resort operator Las Vegas Sands reported a wider than expected loss for the third quarter but beat expectations on revenue amid a rebound in travel.

The company reported a loss per share of 31 cents on revenue of $1.01 billion. Analysts expected a loss of 23 cents a share on revenue of $946 million.

Shares of Las Vegas Sands Corp (NYSE:LVS) dipped 0.8% in after-hours trading. 

Covid-19 related travel restrictions continued to affect results in the quarter, especially with lockdowns affecting China’s Macau region. But CEO Robert Goldstein said, “We remain enthusiastic about the opportunity to welcome more guests back to our properties as greater volumes of visitors are able to travel to both Singapore and Macau." 

"We remain confident in the recovery of travel and tourism spending across our markets. Demand from customers who have been able to visit remains robust,” he added.

Revenue in the quarter rose 17.8% from the same time last year. The net loss from continuing operations was $380 million, compared with $594 million in the third quarter of 2021.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 70.8% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.