Posts Tagged ‘Singapore’

Las Vegas Sands Sees Record Q1 Profit of $572 million

Singapore, China dominance key in Adelson's latest win

by , May 14, 2013 | 2:00 pm

SheldonAdelsonLas Vegas Sands Corp., the gaming company controlled by billionaire Sheldon Adelson, reported first-quarter earnings Wednesday that easily surpassed analysts’ estimates as growth at its Macau properties accelerated.

The casino company last year increased its share of the Macau market with the opening of Sands Cotai Central, its fourth casino in the Chinese gambling enclave. Las Vegas Sands is building The Parisian, its second Cotai Strip resort at a cost of $3 billion.

The Parisian is scheduled to open in late 2015. Adelson told analysts in a conference Wednesday the company is seeking government approval to build its Tropical Garden retail mall in Cotai, a development with 900,000 square feet of “value oriented retail.”

Las Vegas Sands net income for the quarter was $572 million, or 69 cents per share, compared with $498.9 million, or 61 cents per shares, in the first quarter of 2012. Analysts surveyed by Yahoo Finance expected earnings of 67 cents.

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Macau #1, Vegas #2, Singapore #3

LV Strip holds its spot among biggest global gaming markets

by , Mar 4, 2013 | 10:00 am

Las Vegas StripDespite predictions two years ago, Singapore did not surpass the Strip as the world’s No. 2 gaming market in 2012.

And it might not happen this year, according to one gaming analyst.

The island nation’s two casinos produced $5.85 billion in gaming revenues in 2012, an 8 percent increase over 2011. That figure fell short of the $6.2 billion produced by the Strip’s more than 40 casinos.

Macau is the world’s largest casino market with $38 billion in gaming revenues in 2012.

Las Vegas Sands Corp. operates the Marina Bay Sands, which collected 2012 gaming revenues of $2.94 billion. Malaysia-based Genting, which owns Resorts World Sentosa Island, Friday reported $2.91 billion in gaming revenues, as part of the company’s fourth-quarter earnings announcement.

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Singapore Surging

Gaming revenues for Genting and Sands hit $5.85 billion in 2012

by , Feb 27, 2013 | 9:00 pm

Marina Bay Sands Singapore

Marina Bay Sands Singapore

Singapore didn’t pass Las Vegas as the world’s No. 2 gaming market in 2012, and might not happen this year, said one gaming analyst.

The island nation’s two casinos produced $5.85 billion in gaming revenues in 2012, an 8 percent increase over 2011. The figure fell short of the $6.2 billion produced by the Strip’s more than 40 casinos.

Macau is the world’s largest casino market with $38 billion in gaming revenues in 2012.

Las Vegas Sands Corp. operates the Marina Bay Sands, which collected $2.94 billion in gaming revenues in 2012. Malaysia-based Genting, which owns Resorts World Sentosa Island, reported $2.91 billion in gaming revenues Friday, as part of the company’s fourth quarter earnings announcement.

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Investors Weary of Adelson’s Romney-Love

Focus on politics coincides with downgraded LV Sands stock

by , Aug 6, 2012 | 10:10 am

A few days after Las Vegas Sands Corp. disappointed investors with quarterly earnings declines that sent the company’s share price tumbling and had analysts breaking out in a cold sweat, Chairman and CEO Sheldon Adelson jetted to Israel to watch presumptive Republican presidential nominee Mitt Romney deliver a speech in Jerusalem.

“It was a great speech. Loved it,” Adelson told Bloomberg News.

In Israel, he was treated like a rock star. Adelson, 78, was swarmed by Israeli citizens, Romney donors, and the press as he slowly made his way to his wheelchair after the speech.

Back in the U.S., Argus Research downgraded its view of Las Vegas Sands stock. The firm placed a Hold recommendation on the shares, a change from its previous Buy rating.

The weaker outlook reflected Argus’ concerns that revenues and profits from Las Vegas Sands’ four Macau casino developments were in trouble. During the quarter, net income from Macau declined 40 percent. Argus said the Chinese economy seems to be slowing. Also, results from the first phase of the company’s $4.4 billion Sands Cotai Central were lower than expected.

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