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Las Vegas Sands Reports First Quarter 2020 Results

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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

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– 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.”

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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.

 

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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.

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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.

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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.

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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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Caesars Entertainment Inc.

Caesars Entertainment Bolsters Online Casino Live Dealer Offering with the Launch of Branded Live Dealer Studio in Michigan

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Caesars Entertainment Inc. announced the launch of its third branded online casino live dealer studio, available now to players on Caesars Palace Online Casino, Horseshoe Online Casino and Caesars Sportsbook & Casino in Michigan. Developed in partnership with Evolution, the new studio reinforces Caesars’ commitment to delivering world-class, immersive experiences across its online platforms, inspired by the iconic atmosphere of its Caesars Rewards destinations.

The debut of the new studio marks Caesars’ third branded live dealer studio that has opened in 2025 and draws inspiration from table game play at the Las Vegas Strip’s most iconic casino, Caesars Palace. Its opening follows the successful launch of Caesars’ first branded studio with Evolution in Pennsylvania in January. In April, the Company also debuted its first studio inside a Caesars Rewards destination at Tropicana Atlantic City in New Jersey.

“Our third live dealer studio expands our fully customized live dealer experience that is already extremely popular in Pennsylvania and New Jersey into another key jurisdiction where our online casino platforms are live. The studio design takes inspiration from our flagship destination, Caesars Palace, to authentically recreate the atmosphere of Las Vegas for online players. We look forward to our Michigan players enjoying the new experience,” said Matthew Sunderland, Senior Vice President and Chief iGaming Officer at Caesars Digital.

The new live dealer studio in The Great Lakes State is composed of five blackjack tables, including a VIP-exclusive blackjack table, one roulette table, and one baccarat table. The tables are adorned with custom-branded felts featuring iconic Caesars destinations and each marquee online casino platform, including Caesars Palace Online Casino, Caesars Sportsbook & Casino, Horseshoe Online Casino, and, for the first time, Tropicana Online Casino.

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Select tables also feature custom felts co-branded through partnerships with professional sports teams. Like Caesars Rewards destinations across North America, the studio caters to VIP players with an exclusive high-limit blackjack table offering an authentic 1-to-1 live experience that could previously only be found in a physical casino.

“As the global leader in online live casino with nearly two decades of experience, Evolution is proud to partner once again with Caesars to launch this bespoke live dealer studio in Michigan. The studio brings the unmistakable character of Caesars’ iconic destinations to the online space, offering players in the state a polished, immersive entertainment experience that mirrors the energy and elegance of the casino floor. It’s another bold step forward in our shared commitment to innovation and quality at scale in the online live casino market,” said Marcus Huber, Chief Commercial Officer of Evolution North America.

Caesars Palace Online Casino, Horseshoe Online Casino and Caesars Sportsbook & Casino are available on iOS, Android, and desktop for those 21 and older in New Jersey, Pennsylvania, Michigan, Ontario, and West Virginia. Each platform offers a dynamic online casino experience with a range of unique Caesars-branded games alongside hundreds of classic land-based casino favorites and core casino game mechanics, including high limit slots, private live dealer tables, linked progressive jackpots, variations of poker and roulette, and more.

The post Caesars Entertainment Bolsters Online Casino Live Dealer Offering with the Launch of Branded Live Dealer Studio in Michigan appeared first on Gaming and Gambling Industry in the Americas.

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Gambling in the USA

Gaming Americas Weekly Roundup – July 7-13

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Apollo announced the completion of the previously announced acquisitions of International Game Technology PLC’s (doing business as Brightstar Lottery) Gaming & Digital Business and Everi Holdings Inc. (Everi) by a holding company owned by funds managed by Apollo affiliates (the Apollo Funds). The all-cash transaction, valued at approximately $6.3 billion, brings together complementary businesses to form a privately held global leader in gaming, digital and financial technology solutions. The two companies will be integrated into a combined enterprise in the coming months. Headquartered in Las Vegas, the combined enterprise will operate under the IGT name, while retaining the Everi brand in select markets and product lines.

Luckbet has announced Vitor Paulin as its Chief Marketing Officer (CMO), bringing his expertise in branding, digital marketing, data-driven strategies, performance, CRM and user experience optimisation to lead the brand’s positioning at a strategic moment for the betting sector in Brazil. With a consolidated track record in branding, strategy and communication, Paulin takes on the mission of boosting the company’s marketing initiatives, strengthening its presence in the market. Having worked for renowned companies such as Accenture, Ogilvy, Cadastra, Havas, Dentsu, Digitas, Serasa Experian, Escola Conquer and Grupo Aposta Ganha, Vitor has accumulated experience in leadership positions, including CMO and Chief Growth Officer.

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Snoqualmie Casino & Hotel has officially opened its newly expanded non-smoking gaming floor, marking a significant milestone in the property’s continued commitment to exceptional guest experiences. Located adjacent to the hotel lobby, the new, larger non-smoking slot floor will feature nearly 400 of today’s most popular slot machines in a fresh, modern environment designed exclusively for non-smoking guests. This addition enhances the casino’s dedication to providing smoke-free gaming options in a luxury setting. For convenience and ease of access, non-smoking guests can also take advantage of the smoke-free entrance via the hotel’s valet parking. This new space complements Snoqualmie Casino & Hotel’s existing fully enclosed, non-smoking slot area near Falls Buffet and Snoqualmie Café & Deli, offering guests even more choice and accessibility when it comes to their preferred gaming environment.

Partnerships

Hasbro has announced a new slate of multi-year licensing partnerships aimed at transforming and expanding its most popular brands across the casino category. After a comprehensive review and market evaluation, Hasbro has selected Aristocrat Technologies, Evolution, Galaxy Gaming, and Bally’s as its newest partners in casino licensing. The new partners join existing licensee Sciplay. The announcement underscores Hasbro’s “Playing to Win” strategy, revealed in February 2025, which focuses on innovation, partnerships, and bringing beloved brands to life across more formats than ever.

The Indiana Fever announced that one of the world’s leading online betting companies, bet365, is joining the team as its Official Sportsbook Partner for the 2025 season. Bet365 will step into the game with a lineup of fan-focused features that will be integrated across the Fever’s media and game day experience. As part of the partnership, bet365 will have a strong presence throughout the Fever season, including having a brand presence across Fever Radio Network broadcasts, team social content and the Fever mobile app.

The post Gaming Americas Weekly Roundup – July 7-13 appeared first on European Gaming Industry News.

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Gambling in the USA

Gaming Americas Weekly Roundup – June 30-July 6

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

The Alcohol and Gaming Commission of Ontario has issued monetary penalties totaling $350,000 against Great Canadian Casino Resort Toronto for multiple violations of provincial gaming standards. The penalties follow an impromptu after-party that was permitted to take place in the pre-dawn hours directly on the casino’s gaming floor. On September 27, 2024, an electronic dance music event attended by thousands of people was hosted in the theatre adjacent to the casino at Great Canadian Casino Resort Toronto. The event was marked by widespread intoxication, disorderly behaviour and numerous criminal and medical incidents – both inside and outside the venue – including alleged assaults, drug overdoses and acts of public indecency. Although paid duty officers were present, additional police and emergency services were required to manage the situation.

International Game Technology PLC, doing business as Brightstar Lottery, announced that Michelle Carney, Brightstar’s Vice President of Global Lottery Marketing, will be inducted into the Lottery Industry Hall of Fame as a member of the Class of 2025. The induction ceremony will take place this September at an industry event in Ontario, Canada hosted by the Public Gaming Research Institute (PGRI) in conjunction with the North American Association of State and Provincial Lotteries (NASPL). In her current role, Carney is responsible for the development of marketing and communications strategies that support growth for Brightstar’s Global Lottery business, including lottery product marketing, trade shows and events, thought leadership communications and B2C marketing campaign materials to support customer launches of new game content.

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Partnerships

International Game Technology PLC announced that its subsidiary, IGT Canada Solutions ULC (IGT), signed an eight-year agreement with Atlantic Lottery to supply its IntelligenEVO video lottery central system technology across Atlantic Canada. The agreement includes the option for multiple extensions and positions the Atlantic Lottery to become the first World Lottery Association (WLA)-affiliated lottery operator to deploy IGT’s next-generation central management system in a game-to-system (G2S) distributed market. With peak system security, network availability and responsible gaming functionalities, IntelligenEVO is a reliable, scalable solution that can meet the needs of today and in the future. The solution will accelerate time-to-market and enables the Atlantic Lottery to benefit from the system’s suite of player-focused functionality. The technology’s G2S and open API design optimises data collection and delivery and will enable Atlantic Lottery to customise their programme for evolving player needs.

EDGE Boost by EDGE Markets, a financial platform for smart bettors and gamblers, has partnered with World Series of Poker, the premier series of worldwide poker tournaments. The EDGE Boost debit card is now the preferred payment method for WSOP, offering ease of payment, safety and several exclusive on-site perks for tournament players. In past tournaments, WSOP players were limited to $10,000 per transaction and had to complete a lengthy approval process, often resulting in frequent cash deposits. Now, those using the EDGE Boost card through PayPal checkout can bypass traditional credit card verification. They can also make entries up to $250,000, which eliminates the need to carry large sums of cash at the event and increases security measures.

The post Gaming Americas Weekly Roundup – June 30-July 6 appeared first on European Gaming Industry News.

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