For the quarter ended September 30, 2022
(Compared to the quarter ended September 30, 2021)
– Travel Restrictions and Reduced Visitation Continue to Impact Financial Results
– The Ongoing Recovery in Singapore Continued with Marina Bay Sands Generating Adjusted Property EBITDA of $343 Million
– Investments in Property Portfolio Position the Company for Future Growth
– Support for Local Communities Remains Central to Our Efforts
LAS VEGAS, Oct. 19, 2022 /PRNewswire/ — Las Vegas Sands Corp. (NYSE: LVS), the world’s main developer and operator of convention-based Integrated Resorts, at present reported monetary outcomes for the quarter ended September 30, 2022.
“While travel restrictions continued to impact our financial results this quarter, we were pleased to see further progress in Singapore’s recovery, with Marina Bay Sands reaching $343 million in adjusted property EBITDA. We remain enthusiastic about the opportunity to welcome more guests back to our properties as greater volumes of visitors are able to travel to both Singapore and Macao,” stated Robert G. Goldstein, chairman and chief government officer.
“We stay assured within the restoration of journey and tourism spending throughout our markets. Demand from prospects who’ve been in a position to go to stays strong.
“Our investments in our team members, our communities and our industry-leading Integrated Resort property portfolio position us exceedingly well to deliver future growth as travel restrictions subside and the recovery in travel and tourism progresses. We are fortunate that our financial strength supports our investment and capital expenditure programs in both Macao and Singapore, as well as our pursuit of growth opportunities in new markets.”
Net income was $1.01 billion, in comparison with $857 million within the prior yr quarter. Operating loss was $177 million, in comparison with $316 million within the prior yr quarter. Net loss from persevering with operations within the third quarter of 2022 was $380 million, in comparison with $594 million within the third quarter of 2021.
Consolidated adjusted property EBITDA was $191 million, in comparison with $47 million within the prior yr quarter.
Sands China Ltd. Consolidated Financial Results
On a GAAP foundation, complete internet revenues for SCL decreased to $251 million, in comparison with $611 million within the third quarter of 2021. Net loss for SCL was $472 million, in comparison with $423 million within the third quarter of 2021.
Other Factors Affecting Earnings
Interest expense, internet of quantities capitalized, was $183 million for the third quarter of 2022, in comparison with $157 million within the prior yr quarter. Our weighted common borrowing price within the third quarter of 2022 was 4.8% in comparison with 4.4% in the course of the third quarter of 2021, whereas our weighted common debt steadiness elevated in comparison with the prior yr quarter as a consequence of borrowings of $951 million below the SCL Credit Facility within the final yr.
Our revenue tax expense for the third quarter of 2022 was $60 million, in comparison with revenue tax good thing about $27 million within the prior yr quarter. The revenue tax expense for the third quarter of 2022 was primarily pushed by a 17% statutory fee on the elevated earnings of our Singapore operations.
Balance Sheet Items
Unrestricted money balances as of September 30, 2022 had been $5.84 billion.
The firm has entry to $2.95 billion out there for borrowing below our U.S., SCL and Singapore revolving credit score amenities, internet of excellent letters of credit score.
As of September 30, 2022, complete debt excellent, excluding finance leases and financed purchases, was $15.27 billion.
Capital Expenditures
Capital expenditures in the course of the third quarter totaled $169 million, together with development, growth and upkeep actions of $108 million at Marina Bay Sands, $48 million in Macao and $13 million in Corporate and Other.
Conference Call Information
The firm will host a convention name to debate the corporate’s outcomes on Wednesday, October 19, 2022 at 1:30 p.m. Pacific Time. Interested events might take heed to the convention name by means of a webcast out there on the corporate’s web site at www.sands.com.
About Sands (NYSE: LVS)
Sands is the world’s preeminent developer and operator of world-class Integrated Resorts.
Our iconic properties drive precious leisure and business tourism and ship important financial advantages, sustained job creation, monetary alternatives for native companies and group funding to assist make our host areas supreme locations to reside, work and go to.
Sands’ portfolio of properties consists of Marina Bay Sands in Singapore and The Venetian Macao, The Plaza and Four Seasons Hotel Macao, The Londoner Macao, The Parisian Macao and Sands Macao in Macao SAR, China, by means of majority possession in Sands China Ltd.
Sands is devoted to being a pacesetter in company accountability, anchored by our core tenets of serving folks, planet and communities. Our ESG management has led to inclusion on the Dow Jones Sustainability Indices for World and North America and recognition as one in every of Fortune’s World’s Most Admired Companies. To study extra, go to www.sands.com.
Forward-Looking Statements
This press launch accommodates forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements embrace the discussions of our business methods and expectations regarding future operations, margins, profitability, liquidity and capital assets. In addition, in sure parts included on this press launch, the phrases “anticipates,” “believes,” “estimates,” “seeks,” “expects,” “plans,” “intends” and related expressions, as they relate to our firm or administration, are meant to establish forward-looking statements. Although we imagine these forward-looking statements are cheap, we can’t guarantee you any forward-looking statements will show to be appropriate. Forward-looking statements contain plenty of dangers, uncertainties or different elements past the corporate’s management, which can trigger materials variations in precise outcomes, efficiency or different expectations. These elements embrace, however usually are not restricted to: the uncertainty of the extent, period and results of the COVID-19 pandemic and the response of governments and different third events, together with government-mandated property closures, vaccine mandates, common testing necessities, different elevated operational regulatory necessities or journey restrictions, on our business, outcomes of operations, money flows, liquidity and growth prospects; dangers referring to our gaming license and subconcession, together with the extension of our subconcession in Macao that expires on December 31, 2022, the grant of any new concession in Macao and amendments to Macao’s gaming legal guidelines; common financial circumstances; disruptions or reductions in journey and our operations as a consequence of pure or man-made disasters, pandemics, epidemics, or outbreaks of infectious or contagious illnesses; our means to spend money on future development alternatives, execute our beforehand introduced capital expenditure applications in Singapore, and produce future returns; new growth, development and ventures; authorities regulation; the extent to which the legal guidelines and rules of mainland China turn out to be relevant to our operations in Macao and Hong Kong; the chance that financial, political and authorized developments in Macao adversely have an effect on our Macao operations, or that there’s a change within the method wherein regulatory oversight is performed in Macao; our subsidiaries’ means to make distribution funds to us; substantial leverage and debt service; benchmark rate of interest transitions for a few of our debt devices; fluctuations in forex alternate charges and rates of interest; our means to gather gaming receivables; win charges for our gaming operations; danger of fraud and dishonest; competitors; tax regulation adjustments; political instability, civil unrest, terrorist acts or conflict; legalization of gaming; insurance; the collectability of our excellent loans receivable; limitations on the transfers of money to and from our subsidiaries; limitations of the pataca alternate markets; restrictions on the export of the renminbi; authorized proceedings, judgments or settlements that could be instituted in reference to the sale of our Las Vegas actual property and operations; our means to proceed to have our securities traded within the U.S. securities market; and different elements detailed within the studies filed by Las Vegas Sands Corp. with the Securities and Exchange Commission. Readers are cautioned to not place undue reliance on these forward-looking statements, which converse solely as of the date thereof. Las Vegas Sands Corp. assumes no obligation to replace such statements and data.
Las Vegas Sands Corp.
Third Quarter 2022 Results
Non-GAAP Measures
Within the corporate’s third quarter 2022 press launch, the corporate makes reference to sure non-GAAP monetary measures that complement the corporate’s consolidated monetary data ready in accordance with GAAP together with “adjusted net income (loss),” “adjusted earnings (loss) per diluted share,” and “consolidated adjusted property EBITDA,” which have immediately comparable GAAP monetary measures together with “adjusted property EBITDA margin,” “hold-normalized adjusted property EBITDA,” “hold-normalized adjusted property EBITDA margin,” “hold-normalized adjusted net income (loss),” and “hold-normalized adjusted earnings (loss) per diluted share.” The firm believes these measures characterize necessary inner measures of economic efficiency. Set forth within the monetary schedules accompanying this launch and shows included on the corporate’s web site are reconciliations of the non-GAAP monetary measures to probably the most immediately comparable GAAP monetary measures. The non-GAAP monetary measure disclosure by the corporate has limitations and shouldn’t be thought of an alternative choice to, or superior to, the monetary measures ready in accordance with GAAP. The definitions of our non-GAAP monetary measures and the precise explanation why the corporate’s administration believes the presentation of the non-GAAP monetary measures offers helpful data to traders relating to the corporate’s monetary situation, outcomes of operations and money flows are introduced under.
The following non-GAAP monetary measures are utilized by administration, in addition to trade analysts, to guage the corporate’s operations and working efficiency. These non-GAAP monetary measures are introduced so traders have the identical monetary information administration makes use of in evaluating monetary efficiency with the assumption it can help the funding group in correctly assessing the underlying monetary efficiency of the corporate on a year-over-year and 1 / 4 sequential foundation.
Adjusted internet revenue (loss), which is a non-GAAP monetary measure, is internet revenue (loss) attributable to Las Vegas Sands excluding sure nonrecurring company bills, pre-opening expense, growth expense, achieve or loss on disposal or impairment of belongings, loss on modification or early retirement of debt, different revenue or expense and revenue (loss) from discontinued operations, internet of revenue tax. Adjusted internet revenue (loss) and adjusted earnings (loss) per diluted share are introduced as supplemental disclosures as administration believes they’re (1) every broadly used measures of efficiency by trade analysts and traders and (2) a principal foundation for valuation of Integrated Resort corporations, as these non-GAAP measures are thought of by many as different measures on which to base expectations for future outcomes. These measures additionally kind the premise of sure inner administration efficiency expectations.
Consolidated adjusted property EBITDA, which is a non-GAAP monetary measure, is internet revenue (loss) from persevering with operations earlier than stock-based compensation expense, company expense, pre-opening expense, growth expense, depreciation and amortization, amortization of leasehold pursuits in land, achieve or loss on disposal or impairment of belongings, curiosity, different revenue or expense, achieve or loss on modification or early retirement of debt and revenue taxes. Management makes use of consolidated adjusted property EBITDA to match the working profitability of its operations with these of its opponents, in addition to a foundation for figuring out sure incentive compensation. Integrated Resort corporations have traditionally reported adjusted property EBITDA as a supplemental efficiency measure to GAAP monetary measures. In order to view the operations of their casinos on a extra stand-alone foundation, Integrated Resort corporations, together with Las Vegas Sands, have traditionally excluded sure bills that don’t relate to the administration of particular properties, reminiscent of pre-opening expense, growth expense and company expense, from their adjusted property EBITDA calculations. Consolidated adjusted property EBITDA shouldn’t be interpreted as an alternative choice to revenue (loss) from operations (as an indicator of working efficiency) or to money flows from operations (as a measure of liquidity), in every case, as decided in accordance with GAAP. The firm has important makes use of of money circulate, together with capital expenditures, dividend funds, curiosity funds, debt principal funds and revenue tax funds, which aren’t mirrored in consolidated adjusted property EBITDA. Not all corporations calculate adjusted property EBITDA in the identical method. As a end result, consolidated adjusted property EBITDA as introduced by Las Vegas Sands is probably not immediately similar to equally titled measures introduced by different corporations.
Hold-normalized adjusted property EBITDA, a supplemental non-GAAP monetary measure, that, along with the aforementioned causes for the presentation of consolidated adjusted property EBITDA, is introduced to regulate for the impression of sure variances in desk video games’ win percentages, which may fluctuate from interval to interval. Hold-normalized adjusted property EBITDA relies on making use of a Rolling Chip win proportion of three.30% to the Rolling Chip quantity for the quarter if the precise win proportion is exterior the anticipated vary of three.15% to three.45% for our Macao and Singapore properties. We don’t current changes for Non-Rolling Chip drop for our desk video games play or for slots at our Macao and Singapore properties. Hold-normalized adjusted property EBITDA can also be adjusted for the estimated gaming taxes, commissions paid, dangerous debt expense, reductions and different incentives that might have been incurred when making use of the win percentages famous above to the respective gaming volumes. The hold-normalized adjusted property EBITDA measure presents a constant measure for evaluating the working efficiency of our properties from interval to interval.
Hold-normalized adjusted internet revenue (loss) and hold-normalized adjusted earnings (loss) per diluted share are extra supplemental non-GAAP monetary measures that, along with the aforementioned causes for the presentation of adjusted internet revenue (loss) and adjusted earnings (loss) per diluted share, are introduced to regulate for the impression of sure variances in desk video games’ win percentages, which may fluctuate from interval to interval.
The firm may additionally current the above gadgets on a continuing forex foundation. This data is a non-GAAP monetary measure that’s calculated by translating present quarter native forex quantities to U.S. {dollars} primarily based on prior interval alternate charges. These quantities are in comparison with the prior interval to derive non-GAAP constant-currency development/decline. Management considers non-GAAP constant-currency development/decline to be a helpful metric to traders and administration because it permits a extra direct comparability of present efficiency to historic efficiency.
The firm additionally makes reference to adjusted property EBITDA margin and hold-normalized adjusted property EBITDA margin, that are calculated utilizing the aforementioned non-GAAP monetary measures.
|
Exhibit 1 |
||||||||
|
Las Vegas Sands Corp. and Subsidiaries |
||||||||
|
Condensed Consolidated Statements of Operations |
||||||||
|
(In thousands and thousands, besides per share information) |
||||||||
|
(Unaudited) |
||||||||
|
Three Months Ended |
Nine Months Ended |
|||||||
|
September 30, |
September 30, |
|||||||
|
2022 |
2021 |
2022 |
2021 |
|||||
|
Revenues: |
||||||||
|
Casino |
$ 637 |
$ 533 |
$ 1,973 |
$ 2,241 |
||||
|
Rooms |
123 |
100 |
315 |
311 |
||||
|
Food and beverage |
82 |
42 |
198 |
148 |
||||
|
Mall |
119 |
165 |
416 |
469 |
||||
|
Convention, retail and different |
44 |
17 |
91 |
57 |
||||
|
Net revenues |
1,005 |
857 |
2,993 |
3,226 |
||||
|
Operating bills: |
||||||||
|
Resort operations |
823 |
810 |
2,503 |
2,699 |
||||
|
Corporate |
53 |
64 |
167 |
169 |
||||
|
Pre-opening |
4 |
6 |
11 |
15 |
||||
|
Development |
26 |
13 |
108 |
59 |
||||
|
Depreciation and amortization |
260 |
262 |
780 |
775 |
||||
|
Amortization of leasehold pursuits in land |
14 |
14 |
42 |
42 |
||||
|
Loss on disposal or impairment of belongings |
2 |
4 |
8 |
18 |
||||
|
1,182 |
1,173 |
3,619 |
3,777 |
|||||
|
Operating loss |
(177) |
(316) |
(626) |
(551) |
||||
|
Other revenue (expense): |
||||||||
|
Interest revenue |
38 |
1 |
56 |
3 |
||||
|
Interest expense, internet of quantities capitalized |
(183) |
(157) |
(501) |
(469) |
||||
|
Other revenue (expense) |
2 |
(12) |
(29) |
(19) |
||||
|
Loss on modification or early retirement of debt |
— |
(137) |
— |
(137) |
||||
|
Loss from persevering with operations earlier than revenue taxes |
(320) |
(621) |
(1,100) |
(1,173) |
||||
|
Income tax (expense) profit |
(60) |
27 |
(172) |
19 |
||||
|
Net loss from persevering with operations |
(380) |
(594) |
(1,272) |
(1,154) |
||||
|
Discontinued operations: |
||||||||
|
Income from operations of discontinued operations, internet of tax |
— |
99 |
46 |
75 |
||||
|
Gain on disposal of discontinued operations, internet of tax |
— |
— |
2,861 |
— |
||||
|
Adjustment to realize on disposal of discontinued operations, internet of tax |
(1) |
— |
(4) |
— |
||||
|
Income (loss) from discontinued operations, internet of tax |
(1) |
99 |
2,903 |
75 |
||||
|
Net revenue (loss) |
(381) |
(495) |
1,631 |
(1,079) |
||||
|
Net loss attributable to noncontrolling pursuits |
142 |
127 |
370 |
241 |
||||
|
Net revenue (loss) attributable to Las Vegas Sands Corp. |
$ (239) |
$ (368) |
$ 2,001 |
$ (838) |
||||
|
Earnings (loss) per share — fundamental and diluted: |
||||||||
|
Net loss from persevering with operations |
$ (0.31) |
$ (0.61) |
$ (1.18) |
$ (1.20) |
||||
|
Income (loss) from discontinued operations, internet of tax |
— |
0.13 |
3.80 |
0.10 |
||||
|
Net revenue (loss) per widespread share |
$ (0.31) |
$ (0.48) |
$ 2.62 |
$ (1.10) |
||||
|
Weighted common shares excellent: |
||||||||
|
Basic and diluted |
764 |
764 |
764 |
764 |
||||
|
Exhibit 2 |
||||||||
|
Las Vegas Sands Corp. and Subsidiaries |
||||||||
|
Net Revenues and Adjusted Property EBITDA |
||||||||
|
(In thousands and thousands) |
||||||||
|
(Unaudited) |
||||||||
|
Three Months Ended |
Nine Months Ended |
|||||||
|
September 30, |
September 30, |
|||||||
|
2022 |
2021 |
2022 |
2021 |
|||||
|
Net Revenues |
||||||||
|
The Venetian Macao |
$ 104 |
$ 253 |
$ 481 |
$ 984 |
||||
|
The Londoner Macao |
57 |
123 |
257 |
449 |
||||
|
The Parisian Macao |
21 |
102 |
137 |
290 |
||||
|
The Plaza Macao and Four Seasons Macao |
57 |
111 |
238 |
406 |
||||
|
Sands Macao |
11 |
20 |
48 |
97 |
||||
|
Ferry Operations and Other |
8 |
7 |
22 |
22 |
||||
|
Macao Operations |
258 |
616 |
1,183 |
2,248 |
||||
|
Marina Bay Sands |
756 |
249 |
1,834 |
1,002 |
||||
|
Intercompany Royalties |
28 |
16 |
78 |
66 |
||||
|
Intersegment Eliminations (1) |
(37) |
(24) |
(102) |
(90) |
||||
|
$ 1,005 |
$ 857 |
$ 2,993 |
$ 3,226 |
|||||
|
Adjusted Property EBITDA |
||||||||
|
The Venetian Macao |
$ (37) |
$ 40 |
$ (39) |
$ 230 |
||||
|
The Londoner Macao |
(60) |
(33) |
(147) |
(61) |
||||
|
The Parisian Macao |
(37) |
5 |
(77) |
(3) |
||||
|
The Plaza Macao and Four Seasons Macao |
6 |
42 |
55 |
156 |
||||
|
Sands Macao |
(22) |
(21) |
(61) |
(52) |
||||
|
Ferry Operations and Other |
(2) |
(1) |
(4) |
(6) |
||||
|
Macao Operations |
(152) |
32 |
(273) |
264 |
||||
|
Marina Bay Sands |
343 |
15 |
783 |
271 |
||||
|
$ 191 |
$ 47 |
$ 510 |
$ 535 |
|||||
|
Adjusted Property EBITDA as a Percentage of Net Revenues |
||||||||
|
The Venetian Macao |
15.8 % |
23.4 % |
||||||
|
The Londoner Macao |
||||||||
|
The Parisian Macao |
4.9 % |
|||||||
|
The Plaza Macao and Four Seasons Macao |
10.5 % |
37.8 % |
23.1 % |
38.4 % |
||||
|
Sands Macao |
||||||||
|
Ferry Operations and Other |
||||||||
|
Macao Operations |
5.2 % |
11.7 % |
||||||
|
Marina Bay Sands |
45.4 % |
6.0 % |
42.7 % |
27.0 % |
||||
|
Total |
19.0 % |
5.5 % |
17.0 % |
16.6 % |
||||
|
_____________________ |
|
|
Note: |
The sale of the Las Vegas Operating Properties closed on February 23, 2022. The data for the three months ended September 30, 2021 and for the 9 months ended September 30, 2022 and 2021, excludes the outcomes of the Las Vegas Operating Properties, as they’re categorised as a discontinued operation. |
|
(1) |
Intersegment eliminations embrace royalties and different intercompany providers. |
|
Exhibit 3 |
||||||||
|
Las Vegas Sands Corp. and Subsidiaries |
||||||||
|
Non-GAAP Measure Reconciliation |
||||||||
|
(In thousands and thousands) |
||||||||
|
(Unaudited) |
||||||||
|
The following is a reconciliation of Net Loss from Continuing Operations to Consolidated |
||||||||
|
Three Months Ended |
Nine Months Ended |
|||||||
|
September 30, |
September 30, |
|||||||
|
2022 |
2021 |
2022 |
2021 |
|||||
|
Net loss from persevering with operations |
$ (380) |
$ (594) |
$ (1,272) |
$ (1,154) |
||||
|
Add (deduct): |
||||||||
|
Income tax expense (profit) |
60 |
(27) |
172 |
(19) |
||||
|
Loss on modification or early retirement of debt |
— |
137 |
— |
137 |
||||
|
Other (revenue) expense |
(2) |
12 |
29 |
19 |
||||
|
Interest expense, internet of quantities capitalized |
183 |
157 |
501 |
469 |
||||
|
Interest revenue |
(38) |
(1) |
(56) |
(3) |
||||
|
Loss on disposal or impairment of belongings |
2 |
4 |
8 |
18 |
||||
|
Amortization of leasehold pursuits in land |
14 |
14 |
42 |
42 |
||||
|
Depreciation and amortization |
260 |
262 |
780 |
775 |
||||
|
Development expense |
26 |
13 |
108 |
59 |
||||
|
Pre-opening expense |
4 |
6 |
11 |
15 |
||||
|
Stock-based compensation (1) |
9 |
— |
20 |
8 |
||||
|
Corporate expense |
53 |
64 |
167 |
169 |
||||
|
Consolidated Adjusted Property EBITDA |
$ 191 |
$ 47 |
$ 510 |
$ 535 |
||||
|
Hold-normalized on line casino income (2) |
(21) |
(4) |
||||||
|
Hold-normalized on line casino expense (2) |
6 |
(3) |
||||||
|
Consolidated Hold-Normalized Adjusted Property EBITDA |
$ 176 |
$ 40 |
||||||
|
_____________________ |
|
|
Note: |
The sale of the Las Vegas Operating Properties closed on February 23, 2022. The data for the three months ended September 30, 2021 and for the 9 months ended September 30, 2022 and 2021, excludes the outcomes of the Las Vegas Operating Properties, as they’re categorised as a discontinued operation. |
|
(1) |
During the three months ended September 30, 2022 and 2021, the corporate recorded stock-based compensation expense from persevering with operations of $18 million and $3 million, respectively, of which $9 million and $3 million, respectively, is included in company expense on the corporate’s condensed consolidated statements of operations. During the 9 months ended September 30, 2022 and 2021, the corporate recorded stock-based compensation expense of $47 million and $17 million, respectively, of which $27 million and $9 million, respectively, was included in company expense within the accompanying condensed consolidated statements of operations. |
|
(2) |
See Exhibit 4. |
|
Exhibit 4 |
||||||||
|
Las Vegas Sands Corp. and Subsidiaries |
||||||||
|
Non-GAAP Measure Reconciliation |
||||||||
|
(In thousands and thousands) |
||||||||
|
(Unaudited) |
||||||||
|
The following are reconciliations of Adjusted Property EBITDA to Hold-Normalized Adjusted Property EBITDA: |
||||||||
|
Three Months Ended September 30, 2022 |
||||||||
|
Adjusted Property EBITDA |
Hold-Normalized Casino Revenue (1) |
Hold-Normalized Casino Expense (2) |
Hold-Normalized Adjusted Property EBITDA |
|||||
|
Macao Operations |
$ (152) |
$ (10) |
$ 4 |
$ (158) |
||||
|
Marina Bay Sands |
343 |
(11) |
2 |
334 |
||||
|
$ 191 |
$ (21) |
$ 6 |
$ 176 |
|||||
|
Three Months Ended September 30, 2021 |
||||||||
|
Adjusted Property EBITDA |
Hold-Normalized Casino Revenue (1) |
Hold-Normalized Casino Expense (2) |
Hold-Normalized Adjusted Property EBITDA |
|||||
|
Macao Operations |
$ 32 |
$ — |
$ (4) |
$ 28 |
||||
|
Marina Bay Sands |
15 |
(4) |
1 |
12 |
||||
|
$ 47 |
$ (4) |
$ (3) |
$ 40 |
|||||
|
_____________________ |
|
|
Note: |
The sale of the Las Vegas Operating Properties closed on February 23, 2022. The data for the three months ended September 30, 2021, excludes the outcomes of the Las Vegas Operating Properties, as they’re categorised as a discontinued operation. |
|
(1) |
This represents the estimated incremental on line casino income associated to Rolling Chip quantity play that might have been earned or misplaced had the corporate’s present interval win proportion equaled 3.30%. This calculation will solely be utilized if the present interval win proportion is exterior the anticipated vary of three.15% to three.45%.
These quantities have been offset by the estimated commissions paid and reductions and different incentives rebated immediately or not directly to prospects. |
|
(2) |
This represents the estimated incremental bills (gaming taxes and dangerous debt expense) that might have been incurred or prevented on the incremental on line casino income calculated in (1) above. |
|
Exhibit 5 |
||||||||
|
Las Vegas Sands Corp. and Subsidiaries |
||||||||
|
Non-GAAP Measure Reconciliation |
||||||||
|
(In thousands and thousands, besides per share information) |
||||||||
|
(Unaudited) |
||||||||
|
The following is a reconciliation of Net Income (Loss) Attributable to LVS to Adjusted Net Loss and Hold-Normalized Adjusted Net Loss: |
||||||||
|
Three Months Ended |
Nine Months Ended |
|||||||
|
September 30, |
September 30, |
|||||||
|
2022 |
2021 |
2022 |
2021 |
|||||
|
Net revenue (loss) attributable to LVS |
$ (239) |
$ (368) |
$ 2,001 |
$ (838) |
||||
|
Pre-opening expense |
4 |
6 |
11 |
15 |
||||
|
Development expense |
26 |
13 |
108 |
59 |
||||
|
Loss on disposal or impairment of belongings |
2 |
4 |
8 |
18 |
||||
|
Other (revenue) expense |
(2) |
12 |
29 |
19 |
||||
|
Loss on modification or early retirement of debt |
— |
137 |
— |
137 |
||||
|
(Income) loss from discontinued operations, internet of tax |
1 |
(99) |
(2,903) |
(75) |
||||
|
Income tax impression on internet revenue changes (1) |
— |
(3) |
(19) |
(14) |
||||
|
Noncontrolling curiosity impression on internet revenue changes |
— |
(48) |
(11) |
(55) |
||||
|
Adjusted internet loss from persevering with operations attributable to LVS |
$ (208) |
$ (346) |
$ (776) |
$ (734) |
||||
|
Hold-normalized on line casino income (2) |
(21) |
(4) |
||||||
|
Hold-normalized on line casino expense (2) |
6 |
(3) |
||||||
|
Income tax impression on maintain changes (1) |
2 |
1 |
||||||
|
Noncontrolling curiosity impression on maintain changes |
2 |
1 |
||||||
|
Hold-normalized adjusted internet loss from persevering with operations attributable to LVS |
$ (219) |
$ (351) |
||||||
|
The following is a reconciliation of Income (Loss) per Diluted Share to Adjusted Loss per Diluted Share and Hold-Normalized Adjusted Loss per Diluted Share: |
||||||||
|
Three Months Ended |
Nine Months Ended |
|||||||
|
September 30, |
September 30, |
|||||||
|
2022 |
2021 |
2022 |
2021 |
|||||
|
Per diluted share of widespread inventory: |
||||||||
|
Net revenue (loss) attributable to LVS |
$ (0.31) |
$ (0.48) |
$ 2.62 |
$ (1.10) |
||||
|
Pre-opening expense |
0.01 |
0.01 |
0.01 |
0.02 |
||||
|
Development expense |
0.03 |
0.02 |
0.14 |
0.08 |
||||
|
Loss on disposal or impairment of belongings |
— |
— |
0.01 |
0.02 |
||||
|
Other (revenue) expense |
— |
0.01 |
0.04 |
0.03 |
||||
|
Loss on modification or early retirement of debt |
— |
0.18 |
— |
0.18 |
||||
|
(Income) loss from discontinued operations, internet of tax |
— |
(0.13) |
(3.80) |
(0.10) |
||||
|
Income tax impression on internet revenue changes |
— |
— |
(0.03) |
(0.02) |
||||
|
Noncontrolling curiosity impression on internet revenue changes |
— |
(0.06) |
(0.01) |
(0.07) |
||||
|
Adjusted loss per diluted share from persevering with operations |
$ (0.27) |
$ (0.45) |
$ (1.02) |
$ (0.96) |
||||
|
Hold-normalized on line casino income |
(0.03) |
(0.01) |
||||||
|
Hold-normalized on line casino expense |
0.01 |
— |
||||||
|
Income tax impression on maintain changes |
— |
— |
||||||
|
Noncontrolling curiosity impression on maintain changes |
— |
— |
||||||
|
Hold-normalized adjusted loss per diluted share from persevering with operations |
$ (0.29) |
$ (0.46) |
||||||
|
Weighted common diluted shares excellent |
764 |
764 |
764 |
764 |
||||
|
_____________________ |
|
|
(1) |
The revenue tax impression for every adjustment is derived by making use of the efficient tax fee, together with present and deferred revenue tax expense, primarily based upon the jurisdiction and the character of the adjustment. |
|
(2) |
See Exhibit 4. |
|
Exhibit 6 |
||||||||
|
Las Vegas Sands Corp. and Subsidiaries |
||||||||
|
Supplemental Data |
||||||||
|
(Unaudited) |
||||||||
|
Three Months Ended |
Nine Months Ended |
|||||||
|
September 30, |
September 30, |
|||||||
|
2022 |
2021 |
2022 |
2021 |
|||||
|
Casino Statistics: |
||||||||
|
The Venetian Macao: |
||||||||
|
Table video games win per unit per day (1) |
$ 1,463 |
$ 3,380 |
$ 2,170 |
$ 4,948 |
||||
|
Slot machine win per unit per day (2) |
$ 55 |
$ 117 |
$ 86 |
$ 165 |
||||
|
Average variety of desk video games |
623 |
623 |
625 |
627 |
||||
|
Average variety of slot machines |
1,460 |
1,276 |
1,404 |
1,165 |
||||
|
The Londoner Macao: |
||||||||
|
Table video games win per unit per day (1) |
$ 872 |
$ 2,437 |
$ 1,451 |
$ 2,961 |
||||
|
Slot machine win per unit per day (2) |
$ 38 |
$ 83 |
$ 50 |
$ 105 |
||||
|
Average variety of desk video games |
472 |
470 |
473 |
473 |
||||
|
Average variety of slot machines |
1,405 |
1,124 |
1,368 |
945 |
||||
|
The Parisian Macao: |
||||||||
|
Table video games win per unit per day (1) |
$ 509 |
$ 3,417 |
$ 1,377 |
$ 3,089 |
||||
|
Slot machine win per unit per day (2) |
$ 16 |
$ 52 |
$ 29 |
$ 77 |
||||
|
Average variety of desk video games |
267 |
268 |
269 |
268 |
||||
|
Average variety of slot machines |
1,132 |
978 |
1,108 |
925 |
||||
|
The Plaza Macao and Four Seasons Macao: |
||||||||
|
Table video games win per unit per day (1) |
$ 3,143 |
$ 4,687 |
$ 4,351 |
$ 7,893 |
||||
|
Slot machine win per unit per day (2) |
$ 87 |
$ 52 |
$ 40 |
$ 64 |
||||
|
Average variety of desk video games |
142 |
142 |
142 |
142 |
||||
|
Average variety of slot machines |
89 |
140 |
147 |
100 |
||||
|
Sands Macao: |
||||||||
|
Table video games win per unit per day (1) |
$ 677 |
$ 1,089 |
$ 995 |
$ 2,338 |
||||
|
Slot machine win per unit per day (2) |
$ 41 |
$ 83 |
$ 52 |
$ 99 |
||||
|
Average variety of desk video games |
152 |
155 |
154 |
155 |
||||
|
Average variety of slot machines |
757 |
653 |
720 |
578 |
||||
|
Marina Bay Sands: |
||||||||
|
Table video games win per unit per day (1) |
$ 9,871 |
$ 2,209 |
$ 7,854 |
$ 3,078 |
||||
|
Slot machine win per unit per day (2) |
$ 725 |
$ 656 |
$ 711 |
$ 796 |
||||
|
Average variety of desk video games |
519 |
542 |
521 |
561 |
||||
|
Average variety of slot machines |
2,854 |
1,881 |
2,596 |
1,894 |
||||
|
Las Vegas Operating Properties(3): |
||||||||
|
Table video games win per unit per day (1) |
$ 3,355 |
$ 3,553 |
||||||
|
Slot machine win per unit per day (2) |
$ 518 |
$ 534 |
||||||
|
Average variety of desk video games |
197 |
187 |
||||||
|
Average variety of slot machines |
1,778 |
1,568 |
||||||
|
_____________________ |
|
|
Note: |
These on line casino statistics exclude slot machines shutdown in 2022 and 2021 as a consequence of social distancing measures applied on account of the COVID-19 pandemic. In response to a authorities mandate, our Macao casinos had been ordered to shut from July 11, 2022 to July 22, 2022. |
|
(1) |
Table video games win per unit per day is proven earlier than reductions, commissions, deferring income related to the corporate’s loyalty applications and allocating on line casino revenues associated to items and providers offered to patrons on a complimentary foundation. |
|
(2) |
Slot machine win per unit per day is proven earlier than deferring income related to the corporate’s loyalty applications and allocating on line casino revenues associated to items and providers offered to patrons on a complimentary foundation. |
|
(3) |
The sale of the Las Vegas Operating Properties closed on February 23, 2022. The Las Vegas Operating Properties are categorised as a discontinued operation. |
|
Exhibit 7 |
|||||
|
Las Vegas Sands Corp. and Subsidiaries |
|||||
|
Supplemental Data |
|||||
|
(Unaudited) |
|||||
|
Three Months Ended |
|||||
|
The Venetian Macao |
September 30, |
||||
|
(Dollars in thousands and thousands) |
2022 |
2021 |
Change |
||
|
Revenues: |
|||||
|
Casino |
$ 60 |
$ 176 |
$ (116) |
||
|
Rooms |
10 |
18 |
(8) |
||
|
Food and Beverage |
3 |
6 |
(3) |
||
|
Mall |
27 |
49 |
(22) |
||
|
Convention, Retail and Other |
4 |
4 |
— |
||
|
Net Revenues |
$ 104 |
$ 253 |
$ (149) |
||
|
Adjusted Property EBITDA |
$ (37) |
$ 40 |
$ (77) |
||
|
EBITDA Margin % |
15.8 % |
||||
|
Gaming Statistics |
|||||
|
(Dollars in thousands and thousands) |
|||||
|
Rolling Chip Volume |
$ 115 |
$ 781 |
$ (666) |
||
|
Rolling Chip Win %(1) |
1.70 % |
2.22 % |
(0.52) pts |
||
|
Non-Rolling Chip Drop |
$ 292 |
$ 632 |
$ (340) |
||
|
Non-Rolling Chip Win % |
24.3 % |
27.9 % |
(3.6) pts |
||
|
Slot Handle |
$ 158 |
$ 362 |
$ (204) |
||
|
Slot Hold % |
4.0 % |
3.8 % |
0.2 pts |
||
|
Hotel Statistics |
|||||
|
Occupancy % |
36.7 % |
48.4 % |
(11.7) pts |
||
|
Average Daily Rate (ADR) |
$ 135 |
$ 149 |
$ (14) |
||
|
Revenue per Available Room (RevPAR) |
$ 50 |
$ 72 |
$ (22) |
||
|
_____________________ |
|
|
Note: |
Due to social distancing measures and journey restrictions on account of the COVID-19 pandemic, the property operated at a diminished capability, with some operations briefly closed at numerous occasions throughout 2021 and 2022. Rooms utilized to accommodate group members as a consequence of journey restrictions throughout 2022 had been excluded from the calculation of lodge statistics above. |
|
(1) |
This compares to our anticipated Rolling Chip win proportion of three.15% to three.45% (calculated earlier than reductions, commissions, deferring income related to the corporate’s loyalty applications and allocating on line casino revenues associated to items and providers offered to patrons on a complimentary foundation). |
|
Las Vegas Sands Corp. and Subsidiaries |
|||||
|
Supplemental Data |
|||||
|
(Unaudited) |
|||||
|
Three Months Ended |
|||||
|
The Londoner Macao |
September 30, |
||||
|
(Dollars in thousands and thousands) |
2022 |
2021 |
Change |
||
|
Revenues: |
|||||
|
Casino |
$ 24 |
$ 80 |
$ (56) |
||
|
Rooms |
10 |
22 |
(12) |
||
|
Food and Beverage |
4 |
6 |
(2) |
||
|
Mall |
9 |
13 |
(4) |
||
|
Convention, Retail and Other |
10 |
2 |
8 |
||
|
Net Revenues |
$ 57 |
$ 123 |
$ (66) |
||
|
Adjusted Property EBITDA |
$ (60) |
$ (33) |
$ (27) |
||
|
Gaming Statistics |
|||||
|
(Dollars in thousands and thousands) |
|||||
|
Rolling Chip Volume |
$ 179 |
$ 1,266 |
$ (1,087) |
||
|
Rolling Chip Win %(1) |
5.27 % |
2.04 % |
3.23 pts |
||
|
Non-Rolling Chip Drop |
$ 116 |
$ 388 |
$ (272) |
||
|
Non-Rolling Chip Win % |
20.2 % |
20.5 % |
(0.3) pts |
||
|
Slot Handle |
$ 104 |
$ 225 |
$ (121) |
||
|
Slot Hold % |
4.0 % |
3.8 % |
0.2 pts |
||
|
Hotel Statistics |
|||||
|
Occupancy % |
23.2 % |
38.8 % |
(15.6) pts |
||
|
Average Daily Rate (ADR) |
$ 159 |
$ 155 |
$ 4 |
||
|
Revenue per Available Room (RevPAR) |
$ 37 |
$ 60 |
$ (23) |
||
|
_____________________ |
|
|
Note: |
Due to social distancing measures and journey restrictions on account of the COVID-19 pandemic, the property operated at a diminished capability, with some operations briefly closed at numerous occasions throughout 2021 and 2022. Rooms utilized for presidency quarantine functions and to accommodate group members as a consequence of journey and quarantine restrictions throughout 2021 and 2022 had been excluded from the calculation of lodge statistics above. |
|
(1) |
This compares to our anticipated Rolling Chip win proportion of three.15% to three.45% (calculated earlier than reductions, commissions, deferring income related to the corporate’s loyalty applications and allocating on line casino revenues associated to items and providers offered to patrons on a complimentary foundation). |
|
Las Vegas Sands Corp. and Subsidiaries |
|||||
|
Supplemental Data |
|||||
|
(Unaudited) |
|||||
|
Three Months Ended |
|||||
|
The Parisian Macao |
September 30, |
||||
|
(Dollars in thousands and thousands) |
2022 |
2021 |
Change |
||
|
Revenues: |
|||||
|
Casino |
$ 8 |
$ 75 |
$ (67) |
||
|
Rooms |
5 |
12 |
(7) |
||
|
Food and Beverage |
1 |
4 |
(3) |
||
|
Mall |
5 |
10 |
(5) |
||
|
Convention, Retail and Other |
2 |
1 |
1 |
||
|
Net Revenues |
$ 21 |
$ 102 |
$ (81) |
||
|
Adjusted Property EBITDA |
$ (37) |
$ 5 |
$ (42) |
||
|
EBITDA Margin % |
4.9 % |
||||
|
Gaming Statistics |
|||||
|
(Dollars in thousands and thousands) |
|||||
|
Rolling Chip Volume |
$ 26 |
$ 175 |
$ (149) |
||
|
Rolling Chip Win %(1) |
(14.10) % |
16.12 % |
(30.22) pts |
||
|
Non-Rolling Chip Drop |
$ 60 |
$ 246 |
$ (186) |
||
|
Non-Rolling Chip Win % |
24.1 % |
22.8 % |
1.3 pts |
||
|
Slot Handle |
$ 34 |
$ 153 |
$ (119) |
||
|
Slot Hold % |
4.4 % |
3.1 % |
1.3 pts |
||
|
Hotel Statistics |
|||||
|
Occupancy % |
37.1 % |
52.5 % |
(15.4) pts |
||
|
Average Daily Rate (ADR) |
$ 98 |
$ 116 |
$ (18) |
||
|
Revenue per Available Room (RevPAR) |
$ 36 |
$ 61 |
$ (25) |
||
|
_____________________ |
|
|
Note: |
Due to social distancing measures and journey restrictions on account of the COVID-19 pandemic, the property operated at a diminished capability, with some operations briefly closed at numerous occasions throughout 2021 and 2022. Rooms utilized for presidency quarantine functions and to accommodate group members as a consequence of journey and quarantine restrictions throughout 2022 had been excluded from the calculation of lodge statistics above. |
|
(1) |
This compares to our anticipated Rolling Chip win proportion of three.15% to three.45% (calculated earlier than reductions, commissions, deferring income related to the corporate’s loyalty applications and allocating on line casino revenues associated to items and providers offered to patrons on a complimentary foundation). |
|
Las Vegas Sands Corp. and Subsidiaries |
|||||
|
Supplemental Data |
|||||
|
(Unaudited) |
|||||
|
Three Months Ended |
|||||
|
The Plaza Macao and Four Seasons Macao |
September 30, |
||||
|
(Dollars in thousands and thousands) |
2022 |
2021 |
Change |
||
|
Revenues: |
|||||
|
Casino |
$ 27 |
$ 44 |
$ (17) |
||
|
Rooms |
5 |
11 |
(6) |
||
|
Food and Beverage |
2 |
3 |
(1) |
||
|
Mall |
23 |
52 |
(29) |
||
|
Convention, Retail and Other |
— |
1 |
(1) |
||
|
Net Revenues |
$ 57 |
$ 111 |
$ (54) |
||
|
Adjusted Property EBITDA |
$ 6 |
$ 42 |
$ (36) |
||
|
EBITDA Margin % |
10.5 % |
37.8 % |
(27.3) pts |
||
|
Gaming Statistics |
|||||
|
(Dollars in thousands and thousands) |
|||||
|
Rolling Chip Volume |
$ 212 |
$ 308 |
$ (96) |
||
|
Rolling Chip Win %(1) |
9.37 % |
2.40 % |
6.97 pts |
||
|
Non-Rolling Chip Drop |
$ 90 |
$ 269 |
$ (179) |
||
|
Non-Rolling Chip Win % |
17.6 % |
20.0 % |
(2.4) pts |
||
|
Slot Handle |
$ 4 |
$ 7 |
$ (3) |
||
|
Slot Hold % |
14.4 % |
9.7 % |
4.7 pts |
||
|
Hotel Statistics |
|||||
|
Occupancy % |
19.8 % |
41.3 % |
(21.5) pts |
||
|
Average Daily Rate (ADR) |
$ 453 |
$ 439 |
$ 14 |
||
|
Revenue per Available Room (RevPAR) |
$ 90 |
$ 181 |
$ (91) |
||
|
_____________________ |
|
|
Note: |
Due to social distancing measures and journey restrictions on account of the COVID-19 pandemic, the property operated at a diminished capability, with some operations briefly closed at numerous occasions throughout 2021 and 2022. Rooms utilized to accommodate group members as a consequence of journey restrictions throughout 2021 and 2022 had been excluded from the calculation of lodge statistics above. |
|
(1) |
This compares to our anticipated Rolling Chip win proportion of three.15% to three.45% (calculated earlier than reductions, commissions, deferring income related to the corporate’s loyalty applications and allocating on line casino revenues associated to items and providers offered to patrons on a complimentary foundation). |
|
Las Vegas Sands Corp. and Subsidiaries |
|||||
|
Supplemental Data |
|||||
|
(Unaudited) |
|||||
|
Three Months Ended |
|||||
|
Sands Macao |
September 30, |
||||
|
(Dollars in thousands and thousands) |
2022 |
2021 |
Change |
||
|
Revenues: |
|||||
|
Casino |
$ 8 |
$ 16 |
$ (8) |
||
|
Rooms |
1 |
2 |
(1) |
||
|
Food and Beverage |
1 |
2 |
(1) |
||
|
Mall |
1 |
— |
1 |
||
|
Net Revenues |
$ 11 |
$ 20 |
$ (9) |
||
|
Adjusted Property EBITDA |
$ (22) |
$ (21) |
$ (1) |
||
|
Gaming Statistics |
|||||
|
(Dollars in thousands and thousands) |
|||||
|
Rolling Chip Volume |
$ 16 |
$ 137 |
$ (121) |
||
|
Rolling Chip Win %(1) |
2.98 % |
0.11 % |
2.87 pts |
||
|
Non-Rolling Chip Drop |
$ 47 |
$ 89 |
$ (42) |
||
|
Non-Rolling Chip Win % |
16.5 % |
17.4 % |
(0.9) pts |
||
|
Slot Handle |
$ 72 |
$ 147 |
$ (75) |
||
|
Slot Hold % |
3.4 % |
3.4 % |
— pts |
||
|
Hotel Statistics |
|||||
|
Occupancy % |
43.8 % |
63.2 % |
(19.4) pts |
||
|
Average Daily Rate (ADR) |
$ 157 |
$ 134 |
$ 23 |
||
|
Revenue per Available Room (RevPAR) |
$ 69 |
$ 85 |
$ (16) |
||
|
_____________________ |
|
|
Note: |
Due to social distancing measures and journey restrictions on account of the COVID-19 pandemic, the property operated at a diminished capability, with some operations briefly closed at numerous occasions throughout 2021 and 2022. Rooms utilized to accommodate group members as a consequence of journey and quarantine restrictions throughout 2022 had been excluded from the calculation of lodge statistics above. |
|
(1) |
This compares to our anticipated Rolling Chip win proportion of three.15% to three.45% (calculated earlier than reductions, commissions, deferring income related to the corporate’s loyalty applications and allocating on line casino revenues associated to items and providers offered to patrons on a complimentary foundation). |
|
Las Vegas Sands Corp. and Subsidiaries |
|||||
|
Supplemental Data |
|||||
|
(Unaudited) |
|||||
|
Three Months Ended |
|||||
|
Marina Bay Sands |
September 30, |
||||
|
(Dollars in thousands and thousands) |
2022 |
2021 |
Change |
||
|
Revenues: |
|||||
|
Casino |
$ 510 |
$ 142 |
$ 368 |
||
|
Rooms |
92 |
35 |
57 |
||
|
Food and Beverage |
71 |
21 |
50 |
||
|
Mall |
55 |
41 |
14 |
||
|
Convention, Retail and Other |
28 |
10 |
18 |
||
|
Net Revenues |
$ 756 |
$ 249 |
$ 507 |
||
|
Adjusted Property EBITDA |
$ 343 |
$ 15 |
$ 328 |
||
|
EBITDA Margin % |
45.4 % |
6.0 % |
39.4 pts |
||
|
Gaming Statistics |
|||||
|
(Dollars in thousands and thousands) |
|||||
|
Rolling Chip Volume |
$ 6,837 |
$ 459 |
$ 6,378 |
||
|
Rolling Chip Win %(1) |
3.47 % |
4.05 % |
(0.58) pts |
||
|
Non-Rolling Chip Drop |
$ 1,258 |
$ 638 |
$ 620 |
||
|
Non-Rolling Chip Win % |
18.6 % |
11.7 % |
6.9 pts |
||
|
Slot Handle |
$ 4,424 |
$ 2,299 |
$ 2,125 |
||
|
Slot Hold % |
4.3 % |
4.2 % |
0.1 pts |
||
|
Hotel Statistics(2) |
|||||
|
Occupancy % |
96.0 % |
71.7 % |
24.3 pts |
||
|
Average Daily Rate (ADR) |
$ 515 |
$ 235 |
$ 280 |
||
|
Revenue per Available Room (RevPAR) |
$ 494 |
$ 169 |
$ 325 |
||
|
_____________________ |
|
|
Note: |
Due to social distancing measures and journey restrictions on account of the COVID-19 pandemic, the property operated at a diminished capability, with some operations briefly closed at numerous occasions throughout 2021. |
|
(1) |
This compares to our anticipated Rolling Chip win proportion of three.15% to three.45% (calculated earlier than reductions, commissions, deferring income related to the corporate’s loyalty applications and allocating on line casino revenues associated to items and providers offered to patrons on a complimentary foundation). |
|
(2) |
During the three months ended September 30, 2022, roughly 500 rooms had been below development for renovation functions. |
|
Las Vegas Sands Corp. and Subsidiaries |
||||||||||||
|
Supplemental Data – Asian Retail Mall Operations |
||||||||||||
|
(Unaudited) |
||||||||||||
|
For the Three Months Ended September 30, 2022 |
TTM September |
|||||||||||
|
(Dollars in thousands and thousands besides |
Gross |
Operating |
Operating |
Gross |
Occupancy |
Tenant Sales |
||||||
|
Shoppes at Venetian |
$ 26 |
$ 23 |
88.5 % |
814,771 |
79.1 % |
$ 1,021 |
||||||
|
Shoppes at Four Seasons |
||||||||||||
|
Luxury Retail |
17 |
16 |
94.1 % |
129,932 |
100.0 % |
6,394 |
||||||
|
Other Stores |
6 |
5 |
83.3 % |
118,742 |
88.2 % |
1,795 |
||||||
|
Total |
23 |
21 |
91.3 % |
248,674 |
94.4 % |
4,301 |
||||||
|
Shoppes at Londoner |
9 |
6 |
66.7 % |
605,461 |
54.9 % |
1,112 |
||||||
|
Shoppes at Parisian |
5 |
4 |
80.0 % |
296,322 |
73.8 % |
376 |
||||||
|
Total Cotai Strip in Macao |
63 |
54 |
85.7 % |
1,965,228 |
72.8 % |
1,550 |
||||||
|
The Shoppes at Marina Bay Sands |
55 |
48 |
87.3 % |
622,007 |
99.8 % |
2,359 |
||||||
|
Total |
$ 118 |
$ 102 |
86.4 % |
2,587,235 |
79.2 % |
$ 1,805 |
||||||
|
_____________________ |
|
|
Note: |
This desk excludes the outcomes of our mall operations at Sands Macao. As a results of the COVID-19 pandemic, tenants had been offered hire concessions of $37 million at our Macao properties. |
|
(1) |
Gross income figures are internet of intersegment income eliminations. |
|
(2) |
Tenant gross sales per sq. foot replicate gross sales from tenants solely after the tenant has been open for a interval of 12 months. |
SOURCE Las Vegas Sands Corp.
