Las Vegas Sands (NYSE: LVS) reported Q2 EPS of $0.60, $0.01 worse than the analyst estimate of $0.61. Revenue for the quarter came in at $2.92 billion versus the consensus estimate of $2.99 billion.

Consolidated adjusted property EBITDA of $1.02 billion decreased 22.6% in the second quarter of 2015, compared to the year-ago quarter. On a hold-normalized basis, adjusted property EBITDA decreased 16.8% to $1.01 billion in the second quarter of 2015.

Net revenues and adjusted property EBITDA for the second quarter of 2015 at Sands Cotai Central were $554.2 million and $164.2 million, respectively, resulting in an EBITDA margin of 29.6%.

Non-Rolling Chip drop was $1.46 billion in the second quarter with a Non-Rolling Chip win percentage of 22.4%. Rolling Chip volume was $4.83 billion for the quarter with a Rolling Chip win percentage of 3.43%. Slot handle was $1.50 billion for the quarter. Mall revenues increased 30.1% during the quarter to reach $14.7 million. Hotel occupancy was 78.7% with ADR of $156.

Mr. Sheldon G. Adelson, chairman and chief executive officer, said, "While the operating environment in Macao, particularly in the high-end gaming segments, remained challenging during the quarter, our focus on the higher margin mass and non-gaming segments and the geographic diversification of our cash flows allowed us to again deliver in excess of one billion U.S. dollars of Adjusted Property EBITDA during the quarter and weather this cyclical downturn better than the industry overall. Despite the current headwinds in the Macao market, we remain sharply focused on the consistent execution of our global growth strategy, which leverages the power of our unique convention-based Integrated Resort business model.

Mr. Adelson added, "In Macao, we welcomed more than 16 million visits to our Macao property portfolio and delivered strong growth in the high-margin retail mall business. Notwithstanding a challenging environment in the VIP and premium mass gaming segments, we delivered $559.8 million in adjusted property EBITDA across our Macao property portfolio in the second quarter. We remain confident that our market-leading Cotai Strip properties, which will be complemented in the future by The Parisian Macao and the St. Regis tower at Sands Cotai Central, will continue to provide the economic benefits of diversification to Macao, help attract greater numbers of business and leisure travelers and provide an outstanding and diversified platform for growth in the years ahead."

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