Las Vegas Sands has recently published its financial analysis for the fourth quarter of 2022, with the headline figure being an over 10% increase in revenue.
Starting off with the prominent statistics, the firm’s revenue was recorded at just over 1.2 billion dollars. Despite that, the corporation experience an almost 30 million dollar increase in operating losses, going from losing 138 million dollars in 2021’s Q4 to losing just over 165 million dollars in 2022.
The company’s net losses amounted to 269 million dollars in the quarter, which is an improvement of about 45 million dollars compared to the 315 million dollars lost the year prior. In contrast, the firm’s operating losses for the entire year were 792 million dollars, growing by about 100 million from 2021’s 690 million dollars.
Sands’ property EBITDA was recorded at 220 million dollars, which is slightly down in comparison to the previous year’s last quarter, during which the firm’s EBITDA amounted to just over 250 million dollars.
As the gambling industry is still recovering from various pandemic-related restrictions, the company is looking forward to improving its financial performance in the coming months.
Despite the challenging operating conditions, we were able to deliver an excellent performance. We are certain that the next few months will present lots of opportunities to expand our business.
remarked the chief executive officer and chairman of Las Vegas Sands, Robert Goldstein.