Las Vegas Sands reports Q2 2018 results

Las Vegas Sands Corp., developer and operator of convention-based Integrated Resorts, today reported financial results for the quarter ended June 30, 2018.

Second Quarter Overview

Mr. Sheldon G. Adelson, chairman and chief executive officer, said, "We are pleased to have delivered strong financial results in the quarter, led by robust growth in Macao, where every property in our portfolio delivered growth and adjusted property EBITDA reached $750 million, an increase of 25% compared to the second quarter of 2017. While lower Rolling Chip volume and win percentage compared to the year-ago quarter impacted our results at Marina Bay Sands in Singapore, the power of our unique convention-based Integrated Resort business model remains evident in our financial performance, with Singapore delivering $368 million of adjusted property EBITDA and Las Vegas performing well despite lower than expected hold on table games play. We also continue to invest in growth initiatives in each of our markets while returning excess capital to shareholders through dividends and share repurchases."

The company paid a recurring quarterly dividend of $0.75 per common share during the quarter. The company announced that its next quarterly dividend of $0.75 per common share will be paid on September 27, 2018, to Las Vegas Sands shareholders of record on September 19, 2018. In addition, the company repurchased $100 million of common stock (1.3 million shares at a weighted average price of $79.76) during the quarter ended June 30, 2018.