Las Vegas Sands Revenue Soars to $3.44BN in Q4

Las Vegas Sands saw its business soar in the fourth quarter of 2017 with the company’s net revenue spiking by 11.7% to $3.4 billion compared to the $3.08 billion collected in the previous year. As a result, the casino operator reported $2.81 billion in income for the whole of 2017, representing a massive 68% increase versus the $1.67 billion posted in 2016.
According to Las Vegas Sands CEO Sheldon Adelson, the company’s impressive growth was driven by its gaming investments in Macau in terms of both gaming and non-gaming facilities. Its hotel occupancy rate, for instance, was 94% during Q4, despite the Parisian adding an extra 3,000 hotel rooms a year ago. This then contributed to Las Vegas Sands posting a record one million “occupier room nights” during the quarter.
Meanwhile, the Venetian Macau (photo) has become the most visited integrated casino resort in the whole of Asia, and perhaps the world, with a staggering 290 million people having visited the property since its opening in 2007.
Adelson has even bigger plans in store, too, and once renovations are completed the rebranded Londoner (currently the Sands Cotai Central) will be able to accommodate more overnight visitors than both the Venetian and the Parisian integrated casinos combined. The development will cost around $1.1 billion, and upon its completion in 2020 is expected to be a huge draw for both tourists and mass market gamblers alike.
There is no doubt that Las Vegas Sands positioning itself within the Macau market at an early stage has helped turn its fortunes around, with the company’s currently running four huge properties in the world’s biggest gambling resort. Furthermore, Macau’s casino industry has now started returning positive year-on-year growth following a slow down in the anti-corruption campaign launched by the Chinese government a few years ago, and by 2022 the market is forecast to reach $53 billion.
Commenting on the firms overall performance in Q4, Adelson said:
“The structural advantages that enabled us to drive mass non-gaming growth were fully evident during the quarter. The scale and range of our hotel suite inventory, the diversity of our non-gaming offering, especially in retail and entertainment and the unique benefit of inter-connectivity between our Cotai properties. These advantages allow us to attract more overnight visitors than any other operator, as well as increase their length of stay.”