Summary by Moomoo AI
Sands China Ltd. ("Sands China") announced the financial results of its controlling shareholder, Las Vegas Sands Corp. ("LVS"), for the second quarter ended June 30, 2024 on July 25, 2024. Sands China is the owner of LVS's Macau business, accounting for approximately 71% of its issued share capital. LVS held a profit briefing on the same day and published relevant documents on its website. The net profit of Sands China for the second quarter of 2024 increased by 8%, amounting to USD 1.75 billion, and net revenue was USD 246 million, with adjusted property EBITDA of USD 561 million. The company stated that the recovery in the Macau market continued, and it expects future growth opportunities in the markets of Macau and Singapore. Sands China's financial performance is prepared according to U.S. Generally Accepted Accounting Principles, which differ from International Financial Reporting Standards. Investors should consult professional advisors to understand the differences between the two. The announcement was made by the board secretary, Wilfred Wong, on behalf of the board of directors on July 25, 2024.