Las Vegas Sands slips after earnings miss as pandemic pain continues
Las Vegas Sands (NYSE:LVS) says it generated positive EBITDA in each its casino markets despite the ongoing pandemic headwinds it has been facing. Revenue was down 0.7% in Q4 from last year and the operating loss was wider. Of note, LVS generated most its positive EBITDA during the quarter from the Marina Bay Sands property.
Capital expenditures during the quarter totaled $188 million, including construction, development and maintenance activities of $140 million in Macao and $46 million at Marina Bay Sands.
The company ended the quarter with cash of $1.85B and total debt of $14.77B.
Looking ahead, Las Vegas Sands (LVS) says it remains confident in the eventual recovery in travel and tourism spending across its markets.
Shares of LVS are down 0.27% in after-hours trading to $44.00 following the slight miss with Q4 revenue and EPS. The 52-week trading range for LVS is $33.75 to $66.77.