Las Vegas Sands reported net revenue of $2.76 billion for Q2 2024, marking an 8.7% increase from the previous year. The company also saw net income rise to $424 million, up from $368 million in Q2 2023.
“Our financial and operating results for the second quarter of 2024 reflect growth in both Macao and Singapore compared to the second quarter of 2023,” said Robert Goldstein, Chairman and CEO of Las Vegas Sands.
The company’s consolidated adjusted property EBITDA reached $1.07 billion for Q2 2024, up from $973 million in the same period last year. Operating income also saw a 10% year-over-year increase, reported at $591 million.
Strategic Investments and Share Repurchase
Goldstein highlighted the strong performance of Marina Bay Sands in Singapore, emphasizing its new suite product and enhanced service offerings. “Our new suite product and elevated service offerings position us for additional growth as travel and tourism spending in Asia continues to advance,” he noted.
Las Vegas Sands repurchased $400 million worth of shares under its share repurchase program during the quarter. The company plans to continue this program to return excess capital to stockholders.
Sands China, a subsidiary of Las Vegas Sands, reported an 8% year-over-year increase in total net revenues, reaching $1.75 billion for Q2 2024. Net income for Sands China rose to $246 million, compared to $187 million in Q2 2023.
Goldstein remains optimistic about the future, stating, “We remain enthusiastic about our opportunities to deliver industry-leading growth in both markets in the years ahead, as we execute our substantial capital investment programs in both Macao and Singapore.”
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