Earnings call: Sands reports robust Q1 2024 results amid Macao growth
In the first quarter of 2024, Sands Corporation (LVS) reported strong financial performance, bolstered by the continued growth of the Macao gaming market, which has reached $28 billion in annualized revenue. The company is optimistic about the market\’s future, projecting growth to $30 billion and beyond. With substantial investments in Macao and Singapore, Sands has positioned itself for industry-leading returns and captured high-value tourism. Despite ongoing renovations, the company achieved solid results, including a record EBITDA of $597 million in Singapore, and has increased its ownership interest in Sands China (OTC:SCHYY) to approximately 71%.