Sands Falls in Third Quarter as Macau Gaming Revenue Rises

Las Vegas Sands recorded adjusted EBITDA of 590 million dollars in Singapore and 529 million dollars in Macau in the third quarter. The company's market share of Macau mass gaming revenue rose to 26.1 percent, its highest level in three years.

Revenues increased year over year in all gaming segments in Macau. Rolling chip volume fell 31 percent, while non-rolling chip volume declined 11 percent. Despite the decline in the non-rolling segment, rolling chip volume rose significantly. Slot and ETG volume also grew 26 percent.

Meanwhile, the company's net revenue fell to 3.22 billion dollars, compared with 3.33 billion dollars in the same quarter last year. Weakness in high-end players affected results in both Macau and Singapore. Operating income dropped to 61 million dollars, and net income was 352 million dollars.

Chairman and CEO Patrick Dumont said the high-end segment was weak in both markets. Dumont noted that Marina Bay Sands in Singapore delivered strong results. During the quarter, the company also repurchased 950 million dollars of its shares.