Gambling in the USA
Las Vegas Sands Reports First Quarter 2020 Results
For the quarter ended March 31, 2020 (Compared to the quarter ended March 31, 2019)
– Greatest Priorities Remain the Safety and Security of Team Members and Guests and Support for Local Communities in Macao, Singapore and Las Vegas
– The Company will Continue Previously Announced Capital Expenditure Programs in both Macao and Singapore
– Strong Balance Sheet Positions the Company Well to Invest in Future Growth Opportunities
Las Vegas Sands Corp. (NYSE: LVS), the world’s leading developer and operator of convention-based Integrated Resorts, reported financial results for the quarter ended March 31, 2020.
“The impact of the Covid-19 pandemic on our business has been unprecedented, and I have never seen anything like it in my over seventy years in business,” said Sheldon G. Adelson, chairman and chief executive officer. “Our greatest priority during this difficult time remains our deep commitment to supporting our team members and to helping those in need in each of our local communities of Macao, Singapore and Las Vegas.
Despite these circumstances, our balance sheet strength will enable us to emerge from this pandemic with all our promising future growth opportunities fully intact. We remain extremely optimistic about an eventual recovery of travel and tourism spending across our markets, as well as our future growth prospects. We are fortunate that our financial strength will allow us to continue to execute our previously announced capital expenditure programs in both Macao and Singapore, while continuing to pursue growth opportunities in new markets.”
Net revenue was $1.78 billion, a decrease of 51.1% from the prior year quarter. Operating income decreased 94.3% to $55 million. Net loss in the first quarter of 2020 was $51 million compared to net income of $744 million in the first quarter of 2019. Consolidated adjusted property EBITDA was $437 million, a decrease of 69.9% from the prior year quarter.
The company paid a quarterly dividend of $0.79 per common share on March 26, 2020. The company has suspended its quarterly dividend program due to the impact of the novel coronavirus (“COVID-19”) pandemic.
Sands China Ltd. Consolidated Financial Results
On a GAAP basis, total net revenues for SCL decreased 65.1%, compared to the first quarter of 2019, to $814 million. Net loss for SCL was $166 million, compared to net income of $557 million in the first quarter of 2019.
Other Factors Affecting Earnings
Interest expense, net of amounts capitalized, was $131 million for the first quarter of 2020, compared to $141 million in the prior-year quarter. The decrease resulted from our weighted average borrowing cost in the first quarter of 2020 decreasing to 4.2%, compared to 4.6% during the first quarter of 2019.
Our income tax expense for the first quarter of 2020 was $25 million, compared to $85 million in the prior year quarter. The tax rate for the first quarter of 2020 was primarily driven by a 17% statutory tax rate on our Singapore operations.
Balance Sheet Items
Unrestricted cash balances as of March 31, 2020 were $2.60 billion.
The company has access to $3.93 billion available for borrowing under our U.S., SCL and Singapore revolving credit facilities, net of outstanding letters of credit.
As of March 31, 2020, total debt outstanding, excluding finance leases, was $12.30 billion.
Capital Expenditures
Capital expenditures during the first quarter totaled $320 million, including construction, development and maintenance activities of $241 million in Macao, $33 million in Las Vegas and $46 million at Marina Bay Sands.
Conference Call Information
The company will host a conference call to discuss the company’s results on Wednesday, April 22, 2020 at 1:30 p.m. Pacific Time. Interested parties may listen to the conference call through a webcast available on the company’s website at www.sands.com.
About Las Vegas Sands Corp. (NYSE: LVS)
Las Vegas Sands is the world’s pre-eminent developer and operator of world-class Integrated Resorts. We deliver unrivaled economic benefits to the communities in which we operate.
Sands created the meetings, incentives, convention and exhibition (MICE)-based Integrated Resort. Our industry-leading Integrated Resorts provide substantial contributions to our host communities including growth in leisure and business tourism, sustained job creation and ongoing financial opportunities for local small and medium-sized businesses.
Our properties include The Venetian Resort and Sands Expo in Las Vegas and the iconic Marina Bay Sands in Singapore. Through majority ownership in Sands China Ltd., we have developed the largest portfolio of properties on the Cotai Strip in Macao, including The Venetian Macao, The Plaza and Four Seasons Hotel Macao, Sands Cotai Central and The Parisian Macao, as well as the Sands Macao on the Macao Peninsula.
Sands is dedicated to being a good corporate citizen, anchored by the core tenets of serving people, planet and communities. We deliver a great working environment for our team members worldwide, drive social impact through the Sands Cares charitable giving and community engagement program and lead in environmental performance through the award-winning Sands ECO360 global sustainability program. To learn more, please visit www.sands.com.
SOURCE Las Vegas Sands Corp.
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Gambling in the USA
GAMING INDUSTRY’S TOP CEOs BILL HORNBUCKLE, PETER JACKSON & JASON ROBINS TO KEYNOTE G2E 2025
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Main Stage Also Features Tribal Innovation Discussion Oct. 6;Â Global Gaming Women to Present Mental Health Dialogue Oct. 8
The Global Gaming Expo, presented by the American Gaming Association (AGA) and organized by RX, announces its highly anticipated main stage programming for G2E 2025. Over three days, G2E will feature conversations with some of the most influential voices in gaming and offer diverse perspectives on the future of the industry. G2E 2025 takes place Oct. 6-9 at The Venetian Expo in Las Vegas and marks the event’s 25th year.
“We are honored to welcome a distinguished lineup of key industry leaders to the G2E main stage,” said AGA President and CEO Bill Miller. “As we mark 25 years of G2E, we’re proud to continue to be a catalyst for gaming’s growth, and our programming reflects the ideas and leadership shaping the industry’s future.”
Progress or Pressure: How Tribes Can Harness Innovation on Their Terms
Monday, Oct. 6 at 4 p.m. Doors open at 3:30 p.m.
Indian Gaming Association (IGA) Chairman Ernie Stevens Jr. will open the main stage by underscoring the central contributions of tribal operators to the U.S. gaming landscape and the challenges and opportunities that lie ahead.
Bringing together leading tribal voices, the program will explore how tribes embrace innovation on their own terms—balancing growth with sovereignty and long-term success. Panelists will address how emerging technologies, evolving business models, and the rise of illegal, unregulated markets are reshaping the competitive environment. The dialogue will highlight both the opportunities to harness new tools for sustainable growth and the pressures of protecting the industry’s integrity in a rapidly changing landscape.
Moderated by IGA’s Executive Director Jason Giles, the conversation will feature:
- Rodney Butler, Chairman, Mashantucket Pequot Tribal Nation
- James Siva, Chairman, California Nations Indian Gaming Association
Additional participants may be announced in the coming days.
Inside the C-Suite: Gaming’s Future in Focus on Stage
Tuesday, Oct. 7 at 8:45 a.m. Doors open at 8:15 a.m.
AGA President and CEO Bill Miller will open G2E 2025’s keynote session, welcoming global gaming professionals and underscoring the strength and momentum of legal gaming upon the opening of the industry’s biggest gathering of the year.
Following Miller’s remarks, Hope King, founder of Macro Talk, on-air contributor to Yahoo Finance, and events host and moderator for Axios, will lead an impactful series of one-on-one conversations with top global gaming CEOs. Discussions will address key trends and challenges shaping the industry—including investor expectations, domestic and international expansion, and intensifying competition in regulated and unregulated markets. Featuring:
- Bill Hornbuckle – CEO & President, MGM Resorts International
- Peter Jackson – CEO, Flutter Entertainment
- Jason Robins – CEO, DraftKings
The session will conclude at 10 a.m., immediately followed by the opening of the expo floor.
Breaking the Stigma: An Honest Dialogue on Mental Health
Wednesday, Oct. 8 at 9 a.m. Doors open at 8:45 a.m.
Multi-sport athlete and mental health advocate Kendall Toole will share her personal journey in a conversation moderated by Global Gaming Women (GGW) Sip & Social Chair Meghan Speranzo. Presented by GGW, the session will foster an open dialogue on mental health, designed to reframe how attendees think about wellness and inspire stronger voices across the gaming industry and beyond. This conversation will be open to all badge holders. Ahead of the discussion, GGW will host their Sip & Social event from 8 a.m. – 8:45 a.m. in the same room. For more information on this separate networking event, visit globalgamingwomen.org/event-6325670.
Presented by the AGA and organized by RX, G2E’s full education lineup features more than 100 sessions. G2E 2025 runs from October 6-9 (Education: October 6-9 | Expo Hall: October 7-9) at The Venetian Expo in Las Vegas.
Since 2001, G2E has served as the premier global event for the legal, regulated gaming industry, fostering innovation and driving growth across casinos, hospitality, technology, iGaming, sports betting, and more. The event will welcome over 25,000 industry professionals from more than 120 countries, regions, and territories, and nearly 400 exhibitors showcasing the latest global gaming technologies.
For more information, visit globalgamingexpo.com.
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Gambling in the USA
Scientific Games Introduces GlowMark, All-New Fluorescent Marking System for Lottery Extended Play Scratch Games
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Vibrant Neon Marking System Enhances the Play Experience for Popular Crossword and Bingo GamesÂ
Scientific Games has created an all-new fluorescent marking system for lottery extended play scratch games such as crossword and bingo, adding a vibrant neon glow to the play experience. Recognizing the expanding popularity of extended play games, which have seen significant growth in recent years, the company’s metro Atlanta-based scratch game designers, game programmers, chemists and production experts developed GlowMark to give players a bright fluorescent surprise when they scratch the game. The innovation is available to U.S. and international lotteries.
Scientific Games, the world’s largest creator, producer and manager of lottery games, offers more than 100 strategic product enhancements for its world-leading lottery instant products. The new GlowMark marking system reveals a contrasting neon fluorescent color when the player scratches the play area, a vibrant departure from the typical white reveal area found in most games.
SG Analytics indicate extended play lottery games have grown by 32% in the past five years (2019-2024). Today, they represent 18.3% of U.S. lottery retail sales. What was once a niche product is now offered by 44 U.S. lotteries, with retail sales topping $11.5 billion last year.
Scratch games featuring fluorescent inks also grew in popularity, representing more than 12% of games in the market by fiscal year 2025. Additionally, $10 scratch games with fluorescent inks outperformed other $10 games by nearly 9% in fiscal year 2025.
“Our Innovation and Discovery teams developed this innovation by using fluorescents to enhance the scratch game experience and are now thrilled to debut GlowMark, our newest advancement in extended play marking systems,” said Danielle Hodges, Senior Director, Global Product Innovation & Development for Scientific Games. “GlowMark gives games a strong, visually appealing contrast between the marked and unmarked areas of the game, adding excitement with glowing neon colors.”
Extended play scratch games produced at Scientific Games’ metro Atlanta global headquarters, as well as production facilities in Canada and the UK, can feature GlowMark. The company’s products represent 70% of lottery instant game global retail sales.
Innovating products and solutions that move the global lottery industry forward since 1973, Scientific Games provides retail and digital games, technology, analytics and services to 150 lotteries in 50 countries worldwide.
GlowMark
is a trademark of Scientific Games, LLC. © 2025 Scientific Games, LLC. All Rights Reserved.
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Gambling in the USA
Resorts World Las Vegas Appoints Respected Industry Leaders Lou Dorn as Chief Legal Officer and Corporate Secretary; Elizabeth Tranchina as General Counsel
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Resorts World Las Vegas announces the appointments of Lou Dorn as Chief Legal Officer and Corporate Secretary, and Elizabeth Tranchina as General Counsel. Together, they bring proven leadership across the gaming and hospitality industries and will oversee legal, regulatory, governance, and risk-related functions for the resort, helping to drive operational excellence and support long-term growth.
“Lou brings an exceptional depth of experience in gaming law and regulatory compliance that will be instrumental as we continue to grow and evolve,” said Jim Murren, Chairman of Resorts World Las Vegas. “His leadership will help ensure our operations remain forward-thinking, responsible and built on a strong legal foundation.”
Dorn’s distinguished career spans both public service and private-sector leadership. He comes to Resorts World from Bally’s Corporation, where he served as Senior Vice President and General Counsel – North America and oversaw legal operations for 19 casino and resort properties across the U.S., including online gaming and sports wagering platforms. Prior to that, he held executive legal roles at Monarch Casino & Resort, SLS Las Vegas, Aliante Casino and Hotel and the Las Vegas Hilton, where he led legal strategy, compliance programs and regulatory affairs.
Earlier in his career, Dorn served as Chief of the Corporate Securities Division for the Nevada Gaming Control Board and as Deputy Attorney General for the State of Nevada. In these roles, he helped shape and enforce gaming regulations and compliance for the state, gaining a comprehensive understanding of both Nevada gaming law and federal securities law.
“Joining Resorts World Las Vegas at such a dynamic time in its growth is an exciting opportunity,” said Dorn. “Having spent my career navigating the complexities of gaming law and regulatory compliance, I look forward to supporting the resort’s continued success by ensuring we operate with the highest standards of legal integrity and strategic governance.”
Resorts World Las Vegas also welcomes Elizabeth Tranchina as General Counsel. A seasoned legal counsel with more than 20 years of legal and regulatory compliance experience in the gaming and hospitality industry, Tranchina began her legal career as an Assistant Attorney General in the Gaming Division for the Louisiana Department of Justice. She most recently served as General Counsel for Investar Bank, headquartered in Louisiana, overseeing the legal operations for more than 20 branch locations across Louisiana, Texas and Alabama. Prior to that, she was General Counsel at Rio Hotel & Casino where she managed the legal, regulatory compliance and risk functions for the property. Tranchina has held senior leadership roles at publicly traded gaming, sports betting, and iGaming companies, overseeing legal and compliance matters across multiple jurisdictions.
“Elizabeth brings a steady, solutions-oriented mindset to complex legal challenges. Her experience across gaming and financial services adds valuable perspective to our leadership team, and her contributions will be instrumental as we continue to grow,” said Carlos Castro, President and Chief Financial Officer for Resorts World Las Vegas.
For more information about Resorts World Las Vegas, please visit rwlasvegas.com.
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