NEW YORK, April 19 (Reuters) – Las Vegas Sands Corp (LVS.N) on Wednesday reported quarterly income that surpassed Wall Avenue estimates as a result of restoration in mass gaming and tenant gross sales.
The Las Vegas-based on line casino operator mentioned site visitors is rebounding in Singapore and Macao, and it expects additional enchancment in journey and tourism spending from China as airline capability rebounds.
Shares of the on line casino operator rose 4.3% in buying and selling after the bell.
“Whereas journey restrictions and decreased visitation continued to impression our monetary efficiency in the course of the quarter, a strong restoration in journey and tourism spending throughout our markets is now underway,” mentioned Robert G. Goldstein, Las Vegas Sands chief govt officer.
The on line casino operator’s income rose to $2.1 billion within the first quarter from $943 million a 12 months earlier, which surpassed analysts’ common estimate of $1.8 billion.
Las Vegas Sands earned an adjusted 19 cents per share within the quarter, in contrast with analysts’ expectations for 20 cents per share, in accordance with Refinitiv knowledge.
Reporting by Doyinsola Oladipo in New York; Modifying by Chris Reese
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