- Las Vegas Sands (LVS) -1.5% AH, paring earlier losses, after Q4 and 2013 revenues posted all-time highs but still fell short of consensus estimates.
- Higher operating income was driven by LVS’ Macao operations, which gets the credit for more than two-thirds of total Q4 revenue; operations in Las Vegas contributed slightly more than 10% to revenue.
- CEO Sheldon Adelson says the company grew faster than the Macau market in the mass and VIP segments, and expects the larger and more important mass market to remain strong (Briefing.com).
- LVS expects to buy $75M in stock/month and raise its annual dividend rate to $2/share; says it has room for 3-4 emerging market properties but dividends are the preferred place for the capital in the meantime.
Las Vegas Sands posts 32% higher profit but short of estimates, -1.5% AH
Jan 29 2014, 18:59 ET