Sands Q3 Earnings
October 27th, 2010 at 1:47:10 PM
permalink
Las Vegas Sands sees record revenue in 3Q on strength in Asia
Looks like things are going well for Sands. One part seems particularly interesting:
Marina Bay Sands really made that much of an impact on net revenue? That's very impressive!
I'm also glad I bought some shares this morning!
Looks like things are going well for Sands. One part seems particularly interesting:
Quote:Net revenue of $1.91 billion was up 67.3 percent from the third quarter of 2009, representing the opening of Marina Bay Sands in Singapore, continued strong results in Macau and even improvements in Las Vegas.
Marina Bay Sands really made that much of an impact on net revenue? That's very impressive!
I'm also glad I bought some shares this morning!
October 27th, 2010 at 2:14:21 PM
permalink
Breakdown in the increase in revenue for the last quarter.
The Venetian Macao $126.7 million
Sands Macao $7.4 million
Four Seasons Hotel Macao and Plaza Casino Operations $93.3 million
Las Vegas Operations $61.7 million
Bethlehem, PA $19.8 million
Marina Bay Sands Operations $485.9 million
Marina Bay Sands exceeded Las Vegas revenue by 70% in it's first full quarter of operations (last quarter was only 65 days of operation). But more importantly Marina Bay Sands exceeded Las Vegas by 400% in EBITDA.
Sheldon Adelson's dream of being the richest man in the world may one day come true. Especially with Bill Gates and Warren Buffet giving away so much of their money.
Sands is closing in on Harrah's revenue numbers. Harrah's revenue was $2.28 billion for the 3rd quarter of 2009. It will probably go up this year because of Planet Hollywood and improving performance. But Sands (which recently passed MGM Resorts) is hot on their heels. By the time they open another casino in Macao they may be the biggest gaming operation in the world.
The Venetian Macao $126.7 million
Sands Macao $7.4 million
Four Seasons Hotel Macao and Plaza Casino Operations $93.3 million
Las Vegas Operations $61.7 million
Bethlehem, PA $19.8 million
Marina Bay Sands Operations $485.9 million
Marina Bay Sands exceeded Las Vegas revenue by 70% in it's first full quarter of operations (last quarter was only 65 days of operation). But more importantly Marina Bay Sands exceeded Las Vegas by 400% in EBITDA.
Sheldon Adelson's dream of being the richest man in the world may one day come true. Especially with Bill Gates and Warren Buffet giving away so much of their money.
Sands is closing in on Harrah's revenue numbers. Harrah's revenue was $2.28 billion for the 3rd quarter of 2009. It will probably go up this year because of Planet Hollywood and improving performance. But Sands (which recently passed MGM Resorts) is hot on their heels. By the time they open another casino in Macao they may be the biggest gaming operation in the world.
October 27th, 2010 at 2:31:59 PM
permalink
Quote: ElectricDreams
Marina Bay Sands really made that much of an impact on net revenue? That's very impressive!
I'm not sure what they mean by "net revenue" as opposed to "net income" or more commonly understood terms. But year-over-year comps are pretty easy for all companies right now, especially on anything other than the top line due to operating leverage, considering how lousy 2009 was.
October 27th, 2010 at 3:55:48 PM
permalink
Revenue is the raw amount of money taken in. "Net Revenue" takes out the promotional allowances.
Revenues:
Casino $ 1,573,851
Rooms $208,160
Food and beverage $117,186
Convention, retail and other $147,179
-----------
$2,046,376
Less - promotional allowances ($137,604)
-----------
Net Revenue $1,908,772
Revenues:
Casino $ 1,573,851
Rooms $208,160
Food and beverage $117,186
Convention, retail and other $147,179
-----------
$2,046,376
Less - promotional allowances ($137,604)
-----------
Net Revenue $1,908,772
