U.S. casino operator Las Vegas Sands Corp. reported unaudited second-quarter financial results showing a three-month net loss of more than 51% year-over-year to $290 million.

The Las Vegas-based company detailed in an official press release Wednesday that total revenue for the three months to the end of June was down nearly 11% year-over-year to about $1.04 billion, while gaming revenue was down about 16% to about $790 million. It also said the Nevada company incurred an operating loss of about $147 million, worse than a 5.7% year-over-year decline of $139 million and a 14.3% decrease in earnings from its consolidated base of property before interest, taxes, depreciation and amortization to $209 million.

Disappointing deficit:

Las Vegas Sands Corporation, founded in 1988, is responsible for Macau's five casino resorts, including 3,000-room Venetian Macao, with most of the recent declines attributed to the impact of ongoing coronavirus restrictions in its former Portuguese enclave. The U.S. giant also said its second-quarter net loss from those operations rose more than 154% year-over-year to $422 million, while related revenue fell 56.7% to $368 million.

Single Success:

However, Las Vegas Sands Corporation also operates the 2,561-room Marina Bay Sands property in Singapore, where the prestigious venue said second-quarter revenue more than doubled year-over-year to $679 million, which also represents a sequential improvement of 70.2%. The operator noted that the impressive three-tower venue saw a 185% increase in earnings before interest, taxes, depreciation and amortization in the three months to June 30, to a peak of $319 million. This is thanks to a large game win rate reaching 91% of pre-pandemic levels and a 93.9% hotel stay frequency.

BY: 바카라사이트