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Las Vegas Sands misses profit estimates on weakness in Macao business
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Las Vegas Sands misses profit estimates on weakness in Macao business
Jan 29, 2025 2:50 PM

Jan 29 (Reuters) - Casino operator Las Vegas Sands ( LVS )

missed analysts' estimates for fourth-quarter profit on

Wednesday, hurt by tepid performance of its Macao business.

The Las Vegas, Nevada-based company had previously flagged

that it was seeing slowing growth in its integrated resorts and

casino business at Macao properties, including the Venetian

Macao, which contribute a major part to the company's net

revenue.

"In Macao, the ongoing recovery continued during the

quarter, although spend per visitor in the market remains below

the levels reached prior to the pandemic," said CEO Robert

Goldstein.

Las Vegas Sands ( LVS ) posted an adjusted profit of 54 cents per

share for the quarter ended Dec. 31. Analysts on average

expected 58 cents per share, according to data compiled by LSEG.

Revenue from Macao operations fell about 5% to $1.86

billion.

The company's total revenue fell marginally to about $2.9

billion, but was above analysts' estimate of $2.87 billion.

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