Doinsora Oladipo
NEW YORK (Reuters) – Las Vegas Sands posted a higher-than-expected quarterly loss and sales fell short of Wall Street estimates, the company said on Thursday. Earnings were hit by travel restrictions and a decline in travel to its casinos in Asia.
The Las Vegas-based casino operator has shown traffic to its location returning following the Lunar New Year, and sees future demand picking up. The company’s facility in Macau recorded 71,000 visitors on Monday, its best day since the pandemic.
The company’s shares fell 1.5% in trading after the bell.
The company’s CEO, Robert G. Goldstein, said in a statement that the company remains confident of a strong recovery in travel and tourism spending across markets.
Las Vegas Sands posted an adjusted loss of 19 cents per share in the fourth quarter, according to Refinitiv data, which is below analyst expectations of a loss of 9 cents per share.
Casino operator revenues increased to $1.12 billion in the fourth quarter from $1.01 billion a year ago, but fell short of the average analyst estimate of $1.18 billion. (Reporting by Doyinsola Oladipo, New York; Editing by Anna Driver)
