The company said net revenues for the 3 months ended March 31, 2024 were $2.96 billion, compared with $2.12 billion a year earlier. Operating income was $717 million, compared with $378 million, and net income was $583 million, compared with $145 million.

1. 01

   The company said net revenues for the 3 months ended March 31, 2024 were $2.96 billion, compared with $2.12 billion a year earlier. Operating income was $717 million, compared with $378 million, and net income was $583 million, compared with $145 million.

2. 02

   Las Vegas Sands said net casino revenues rose $687 million from a year earlier, with increases of $421 million in Macao and $266 million at Marina Bay Sands. In Macao, higher visitation lifted table games and slot volumes, which was partially offset by lower table games rolling win and slot hold percentages, the company explained.

3. 03

   Las Vegas Sands said income tax expense for Q1 2024 was $17 million, on income before income taxes of $600 million, resulting in an effective tax rate of 2.8% (compared with 25.6% a year earlier). It also said operating cash flow increased $273 million from the prior-year period.

4. 04

   The company said that as of March 31, 2024, it had unrestricted cash and cash equivalents of $4.96 billion. In Q1, it repurchased 8,576,873 shares for $455 million and treated dividends of $151 million as distributions from retained earnings, not from additional paid-in capital.

Key figures

Quarter ended March 31, 2024

Revenue

$3.0B

Operating income

$717M

Net income

$494M

EPS

$0.66

Operating cash flow

$714M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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