Adjusted earnings reached 54 cents per share, falling short of the 68 cents projected by analysts surveyed by FactSet. The primary drag on the company’s performance came from its core gaming operations, where revenue dipped 5%. Despite the weakness in the casinos, the firm saw growth across its other segments, including hotel rooms, dining, and retail mall operations.
In section Market Quotes
Las Vegas Sands Profit Slips as Casino Revenue Declines
A 3.5% drop in quarterly revenue to $3.22 billion has pressured Las Vegas Sands, as the gaming giant struggled to meet Wall Street expectations. The company reported a profit of $304 million for the third quarter, a sharp decline from the $419 million recorded during the same period last year.
Following the release of these figures, investors reacted by sending shares down approximately 3% to $36.40 in after-hours trading. The company’s inability to reach the anticipated 61 cents per share benchmark from the previous year highlights the ongoing volatility in its primary market sectors.
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