Sands First Quarter Profits Up - Apac
Las Vegas Sands Group announced its first quarter consolidated net revenue increased 14.3% to USD3.11Billion from the same quarter a year ago. Net income increased 41.3% to USD578million, consolidated adjusted property earnings before taxes(EBITDA) increased 24.9% to USD1.15 billion, with margin increasing 310 basis points to 36.9% during the first three months ended March.
The company said its operations in Macao, adjusted property EBITDA increased 20.5% to USD624million during the quarter, while hold-normalized adjusted property EBITDA increased 14.3% to USD592million.
Its resorts at Marina Bay Sands Singapore, adjusted property EBITDA increased 32.7% to USD365million, with margin increasing 660 basis points to 52.1%.
- APMR News