A look at Las Vegas Sands’ 2Q15 results
Las Vegas Sands (LVS) had a difficult second quarter, missing both top line and bottom line estimates. The top line fell 19.4% to $2.9 billion compared to $3.6 billion in 2Q14. Operating income fell 28.3% to $689.3 million compared to $961.5 million in the second quarter of 2014.
The main reason for this de-growth was the fall in the company’s Macao gaming operations, which took a blow due to restrictions by the Chinese government. The drop in casino revenues was followed by a drop in room revenues during the quarter.
LVS stock continues to see weakness in stock movement. The stock fell about 30% in July, August, and September but gained some strength in the first week of October. For the same time period, the SPDR S&P 500 ETF (SPY) fell about 7.5%, indicating an overall weakness in the economy.
About Las Vegas Sands
Las Vegas Sands (LVS) is a Nevada-based integrated resort operating company. The company develops, owns, and operates integrated resorts featuring accommodations, gaming, entertainment and retail facilities, convention and exhibition facilities, and other amenities in Macao, Singapore, and the United States.