Gambling in the USA

Las Vegas Sands Reports First Quarter 2020 Results

Published

5 years ago

April 24, 2020

George Miller

Reading Time: 3 minutes

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

European Gaming Congress 2024 (Warsaw, Poland)

– 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.

Gambling in the USA

New “Reel Masters” Free Slot Tournament Has Launched – OnlineUnitedStatesCasinos.org Reports

Published

4 days ago

February 28, 2025

GamingAmericas.com

new-“reel-masters”-free-slot-tournament-has-launched-–-onlineunitedstatescasinos.org-reports

Online gambling is constantly evolving, and one trend is dominating the scene in 2025 – free slot tournaments. Offering risk-free excitement and real rewards, OnlineUnitedStatesCasinos.org is leading the charge with the launch of The Reel Masters – Free Slots Tournaments.

Free slot tournaments, like Reel Masters, are gaining in popularity as players look to online platforms that offer a risk-free gaming experience. Reel Masters delivers both weekly and month-long tournaments, offering real-time gameplay and competitive challenges for all players.

Key Features of Reel Masters

• Real-Time Leaderboards: Players can stay updated with live rankings, keeping the competition unfolding in real time.

• User-Friendly Games: Reel Masters features a mix of engaging slot games from top providers, available 24/7 on any device.

• Non-Stop Action: Up to eight weekly tournaments running Monday to Sunday and high-stakes month-long competitions.

With online gaming growing at an unprecedented pace, players are looking for new ways to enjoy their favorite games without financial risk. Free slot tournaments offer the perfect blend of excitement, accessibility, and competition – a trend that’s already dominating in 2025. As more platforms embrace this model, players can expect innovative tournament formats, enhanced social features, and top rewards.

“We’re in the entertainment industry. So, we want our community to have fun trying out new slots’ games at no risk, and have a chance to win great prizes,” John Mehaffey, Editor-in-Chief at OnlineUnitedStatesCasinos.org, said.

The post New “Reel Masters” Free Slot Tournament Has Launched – OnlineUnitedStatesCasinos.org Reports appeared first on Gaming and Gambling Industry in the Americas.

Gambling in the USA

Gaming Americas Weekly Roundup – February 17-23

Published

1 week ago

February 25, 2025

Niji Narayan

gaming-americas-weekly-roundup-–-february-17-23

Reading Time: 2 minutes

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

CT Interactive has secured certification for its top-performing games to enter into the Brazil’s newly regulated online gaming market. Some of the certified top titles include: 20 Mega Slot, 40 Mega Slot, Celestial Dragon, Chilli Fruits, Chilli Madness, Dancing Dragons, Giraffe Wild, Hot 7’s X 2, Lucky Clover, Pot O’ Luck, Purple Fruits, Star Girl, Treasure Chase, Wild Clover and Win Storm. This certification marks CT Interactive’s strategic entry into a jurisdiction that is set to reshape the global gaming landscape, opening up unique opportunities for both operators and content providers.

The Cordish Companies celebrated the highly anticipated grand opening of Live! Casino & Hotel Louisiana, a $270+ million resort destination that marks the first land-side casino in the Shreveport-Bossier market.The Cordish Companies were joined by key stakeholders including Louisiana State Senator Sam L. Jenkins, Jr., State Representative Steven Jackson, Bossier City Mayor Thomas Chandler, Louisiana Gaming Control Board Chairman Christopher Hebert, Bossier Parish Police Juror Pam Glorioso, Bossier Chamber of Commerce President Lisa Johnson, Louisiana-native Professional Football Hall of Famer Ed Reed, and many community and business leaders from around the region to celebrate the opening.

The Pennsylvania Gaming Control Board has reported that preliminary figures show $101,548,073 was wagered in the Commonwealth on the Philadelphia Eagles/Kansas City Chiefs Super Bowl through retail and online sportsbooks. That was a 20.4% increase over the previous high for wagers placed in Pennsylvania for a Super Bowl achieved in 2023 when the Eagles and Chiefs also faced off. At the same time, patrons overwhelmingly placed winning wagers resulting in negative revenue for the sports wagering operators of $6,532,147. The PGCB noted in particular a high percentage of wagers placed on the Eagles to win. The Eagles defeated the Chiefs 40-22.

Partnerships

VIP Play has chosen White Hat Gaming to power their online gambling platform in Tennessee (currently operating as ZenSports) and in additional US states as VIP Play expands within the U.S. online gambling market. This announcement follows the recent partnership agreement between VIP Play and Kambi Group. VIP Play acquired the assets of the ZenSports platform in 2022, and has operated in Tennessee as ZenSports since July 2023. VIP Play boasts an innovative understanding of sports wagering and expects to use the White Hat platform, in addition to their own proprietary technology & Kambi Turnkey Sportsbook, to build an entirely customised version of the platform compared to what is available today.

Pollard Banknote Limited has congratulated the Kansas Lottery on the successful launch of its iLottery programmme powered by the Pollard Catalyst Gaming Platform, Pollard Banknote’s cloudnative, modular and API-first iLottery solution. The leadership and strong partnership of the Kansas Lottery, combined with Pollard Banknote’s deep iLottery expertise, enabled the launch to come only ten months after initial scoping, making this the fastest implementation of a full iLottery programme in U.S. history. Players in Kansas will now be able to play popular draw-based games including Powerball and Mega Millions, and an initial offering of nine eInstant games from the Pollard Digital Games Studio on the Lottery’s website.

The post Gaming Americas Weekly Roundup – February 17-23 appeared first on European Gaming Industry News.

Gambling in the USA

Gaming Americas Weekly Roundup – February 10-16

Published

2 weeks ago

February 18, 2025

Niji Narayan

gaming-americas-weekly-roundup-–-february-10-16

Reading Time: 2 minutes

Latest News

Quick Custom Intelligence (QCI) has launched QCI Heatmap, an advanced contour heatmapping tool that transforms the way casinos interact with slot performance data. This release represents a unique modernisation of classic data visualisation techniques, reimagined using state-of-the-art graphics processing, machine learning and QCI’s proprietary intellectual property. Heatmapping has long been a valuable tool for understanding gaming floor performance, but traditional implementations were often limited by static visualisations, sluggish responsiveness and an inability to scale dynamically. With QCI Heatmap, the company has re-engineered these foundational techniques using modern high-performance rendering technology, GPU acceleration and AI-driven insights, enabling real-time, interactive exploration at a level never seen before.

FanDuel has revealed that during the 2024-25 NFL Season nearly half of its customers, approximately 3.5 million, reviewed their play activity using My Spend, a new personalised responsible gaming dashboard. The growing adoption demonstrates that customers are engaging with RG tools that provide personalized insights that help them to manage their time and spending on the platform. My Spend provides customers with detailed insights on their deposit and betting activity, including amount deposited and net winnings over the last seven days, four weeks or three months. The My Spend dashboard also encourages customers to utilise the existing suite of responsible gaming tools FanDuel offers, including deposit limits and wager limits.

Partnerships

SCCG Management has entered into a strategic partnership with Tecpinion, a premier provider of custom development and ready-to-launch, 100% customisable iGaming platforms with full ownership. Tecpinion delivers state-of-the-art platforms for sweepstakes casinos, social casinos, sports betting, online casinos, fantasy sports, crash games and more, with integrated solutions such as multi-lingual support, payment gateways and referral systems that cater to a global audience. SCCG Management will provide business development support, sponsorship exposure and strategic distribution opportunities, leveraging its extensive global network to position Tecpinion as a go-to provider for gaming operators looking to scale efficiently.

Major League Baseball and Sportradar announced a long-term extension and expansion of their decade-long partnership, set to begin with the 2025 season, aimed at unlocking the full potential of MLB’s data and audiovisual (AV) content while growing America’s pastime worldwide. As part of the agreement, MLB has acquired an equity stake in Sportradar, further solidifying the partnership between the two organizations and supporting future growth opportunities. Under the new terms, Sportradar, in partnership with MLB, will exclusively distribute MLB’s ultra-low latency official data, media content, including MLB Statcast Data, and AV content across its global client network, which spans 800 sportsbook clients and 900 media companies.

SYNOT Games has entered into a new partnership with Novibet in Brazil. This collaboration marks a significant milestone in SYNOT Games’ expansion into the burgeoning Brazilian iGaming market. This deal introduced Novibet’s players in the Brazilian region to an impressive portfolio of 85 premium games, including some of SYNOT’s most popular and highest-grossing titles such as Fruity Gold 243 and 100 Stunning Fruits. The launch comes at an exciting time for the Brazilian online gaming industry, which is experiencing rapid growth thanks to increasing player demand and favourable regulatory developments.

The post Gaming Americas Weekly Roundup – February 10-16 appeared first on European Gaming Industry News.