Las Vegas Sands records revenue of $2.5b in Q2 2023
Las Vegas Sands has recently published its latest financial performance analysis for the second quarter of the year.
Starting off with the company’s most important statistics, it was able to generate just over 2.4 billion dollars of revenue in the quarter. This was up by close to 150% in comparison to the company’s revenue in the second quarter of last year, which was recorded at just over a billion dollars.
This led to an EBITDA figure of 972 million dollars, which is more than four times higher than Sands’ EBITDA of 209 million dollars in the year prior. Additionally, the latest figure also set a new record for the firm’s EBITDA, surpassing its previous high recorded in 2019.
These increases led to an operating income of more than 530 million dollars in the three months, up from last year’s loss of 147 million dollars. Net income, on the other hand, was recorded at just under 340 million dollars this year, compared to a loss of over 410 million dollars in the second quarter of 2022.
The company was able to achieve these increases thanks to the continued growth of its operations in Asia, with its Chinese division, which operates the Sands Macao, generating more than 1.6 billion dollars in revenue, up from 368 million dollars last year. The firm’s Macao operations also experienced a sizable increase in net income, which reached 187 million dollars in the quarter, up from a loss of over 400 million dollars in the year prior.