«Las Vegas Sands Profit Rise Thanks to “Challenge Luck”

Profits of Las Vegas Sands have risen by 36% thanks to success in the gambling market in Macau. This Casino operator embraces casinos in Singapore, Macau, Pennsylvania and Las Vegas. The first three months of 2014 brought Las Vegas Sands rise of its revenue up to $4.01b and rise of its adjusted earnings to $1.48b. So the total profit reached $776.2m which means 95ў per share. It is a remarkable record in the history of Las Vegas Sands. Sheldon Adelson, the big boss of Las Vegas Sands, commented this profit rise as “challenge luck” which has been coming from the ancient times of Confucius. Mentioning this Chinese philosopher Adelson pointed out that he had never met him in private. He also added that nothing would be able to stop this luck, whether it is great or small, narrow or wide, tall or short. Thanks to those golden times Las Vegas Sands could repurchase about $810m of stock from its shareholders and this is not the limit, as Adelson mentioned. He is confident in further successful future of his company. Adelson himself did not sell any share of Las Vegas Sands for 8 years.

MASSIVE ASS KICKING IN MACAU

The star in Las Vegas Sands family is (and has always been) Sands China. Its revenue has risen by 35% ($2.7b in revenue). The gaming revenue of the Venetian Macao is $1.075b and this means rise by 38%. Sands Cotai Central has brought the profit of $750m (which is equal to +40.6%). $340.2m was brought by Four Seasons Macao. That means +65%. Finally, Sands Macao may be proud of $306.6m revenue (+1.4%).

VIP gaming winnings at Sands Macau have risen to $1.45b (rise of 18.2%). Electronic Table Games together with Slots games have the following data: rise of 23.8% and revenue of $184.3m. Winnings of mass table at Sands have grown to $1.34b (+54.2%) and this is another record here, because it is 40% higher than the total gains of the overall market in Macau. All this info is illustrated in the graphic below. The volume of VIP rolling chip keeps prevailing over mass market table drop. However, at the Venetian mass market gambling profit rose to 81% and VIP numbers gained only 31%. The similar thing can be seen at Sands Cotai. The mass there brought 74% and VIP gained 40.6%. But the different situation is at the Four Seasons: mass here rose up to 218% and VIP fell down by 3%. Sands Macao is alike: 43% was gained at mass and VIP has fallen down by 15.7%.

MBS (Marina Bay Sands) in Singapore earned $435.2m which means rise by 9.7%. And mass table games have fallen down by 3%. Slot games have gained $3b (+9.5%). MBS had occupancy rate of 99.3% though room rates rose by 13%.

WHAT ABOUT THE USA

It is quite clear that Las Vegas Sands put the attention on the Asian sector, and all the financial analysts study Sands’ stateside operations separately from the Asian ones. Two properties of the Sands on the Strip of Las Vegas gained revenue with 7% drop ($382.7m). Gaming revenue has fallen down by 31% to the amount of $109.8m, because Baccarat and other Table games are reported 17.1%. Slots have also fallen down by 4.4%. The revenue in Pennsylvania’s Bethlehem Sands has fallen down to $117.2m by 4.6%.

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