Summary by Moomoo AI
Las Vegas Sands reported Q2 2024 net revenue of $2.76 billion, up 8.6% YoY, with net income reaching $424 million, a 15.2% increase from $368 million in Q2 2023. Consolidated adjusted property EBITDA grew to $1.07 billion from $973 million last year, driven by continued recovery in Macao and strong performance in Singapore.Macao operations generated adjusted property EBITDA of $561 million, while Marina Bay Sands in Singapore delivered $512 million, benefiting from high rolling chip win percentage that positively impacted EBITDA by $64 million. The company maintained strong liquidity with $4.71 billion in unrestricted cash and $4.43 billion available under credit facilities.The company demonstrated commitment to shareholder returns by repurchasing $400 million of common stock at an average price of $45.77 per share and declaring a quarterly dividend of $0.20 per share. Management remains optimistic about growth opportunities in both Macao and Singapore markets as travel and tourism spending continues to recover.
