April 17 (Reuters) - Casino operator Las Vegas Sands
Corp ( LVS ) beat Wall Street estimates for first-quarter profit
on Wednesday, bolstered by steady tourist activity in Macau and
strength in its Singapore business, driven by operations at the
Marina Bay Sands.
The Nevada-based company said it expects further growth as
it executes capital investment programs across both Macau and
Singapore markets.
The company's China business benefited as tourism inched
closer to pre-pandemic levels as the country eased the
pandemic-related restrictions in gambling hub Macau.
Driven by high levels of performance in tenant sales and
mass gaming, the company reported adjusted property EBITDA of
$597 million at Marina Bay Sands.
"We were pleased with our financial and operating results
for the quarter, which reflect strong growth in both Macau and
Singapore," CEO Robert Goldstein said in a statement.
Revenue rose to $2.96 billion for the quarter ended March
31, up from $2.12 billion a year earlier, surpassing analysts'
estimates of $2.94 billion as per LSEG data.
Adjusted earnings came in at 75 cents per share, while
analysts on average expected earnings of 62 cents per share.