Las Vegas Sands, a major casino operator, reported a decline in its second-quarter profit and revenue. The company’s Macau operations were a significant factor in this decline, with unusually low hold in rolling play and a shift in bettors’ spending to the FIFA World Cup.
Financial Details
The company’s total revenue from its Macau operations marginally fell from a year earlier to $1.79 billion. The quarterly profit was $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.
Shares of the Nevada-based company fell about 6% in extended trading. Las Vegas Sands operates integrated resorts and casinos, including Marina Bay Sands in Singapore and six properties in Macau, such as the Venetian Macau.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
