Las Vegas Sands Earns $273M In 4Q, Falls Short
Casino-resort developer and operator Las Vegas Sands Corp. is reporting that it earned $273 million during the fourth quarter of 2010 thanks to soaring revenue in Macau and Singapore.
The company, led by billionaire CEO Sheldon Adelson, says that it saw record revenue of $2.02 billion in the quarter that ended New Year’s Eve.
Its profit amounted to 34 cents per share, compared with a loss of 17 cents per share — or $113.9 million in all — during the same quarter in 2009. Analysts expected Sands to earn 38 cents a share on $2.05 billion.
For the full year, Sands earned $407.5 million, compared with a loss of $540.1 million in 2009. Adelson said in a statement that the company’s revenue also rose in Las Vegas and Pennsylvania.