Las Vegas Sands (LVS) Misses Q2 EPS by 4c
Las Vegas Sands (NYSE: LVS) reported Q2 EPS of $0.52, $0.04 worse than the analyst estimate of $0.56. Revenue for the quarter came in at $2.65 billion versus the consensus estimate of $2.76 billion.
On a GAAP basis, total net revenues for Sands China Ltd. (SCL) decreased 16.4% to $1.48 billion in the second quarter of 2016, compared to $1.77 billion in the second quarter of 2015. Net income for SCL decreased 39.0% to $237.0 million in the second quarter of 2016, compared to $388.7 million in the second quarter of 2015. SCL adjusted property EBITDA was $487.7 million, while hold-normalized adjusted property EBITDA was $495.7 million.
The Venetian Macao Second Quarter Operating Results
Despite the softer gaming market in Macao, The Venetian Macao continued to enjoy market-leading visitation and financial performance. The property generated revenue of $666.1 million and adjusted property EBITDA of $244.4 million in the second quarter with an adjusted property EBITDA margin of 36.7%. Non-Rolling Chip drop was $1.66 billion for the quarter, with a Non-Rolling Chip win percentage of 24.8%. Rolling Chip volume during the quarter decreased 10.0% to $6.87 billion. Rolling Chip win percentage was 2.73% in the quarter, below the 3.07% experienced in the prior-year quarter. Slot handle was $979.3 million.
For earnings history and earnings-related data on Las Vegas Sands (LVS) click here.
