Land-based gaming giant Las Vegas Sands was able to significantly reduce its net loss in the first half of its financial year after the reopening of its casino properties led to a 60.2% year-on-year rise in revenue.
Total revenue for the six months to June 30 amounted to $2.37bn (£1.73bn/€201.2m), up from $1.48bn in the same period last year, during which the operator was hit by casino closures as a result of the novel coronavirus (Covid-19) pandemic.
In 2020, Sands’ casinos in Macao closed for a short period in February, while its Las Vegas properties shut between March 18 and June 4, and its Singapore Marina Bay Sands facility from April 7 to June 30.
However, this year, only Marina Bay Sands closed between May 17-19, while all of its other casinos remained open, albeit with certain restrictions of capacity and social distancing in the properties.
Certain travel restrictions also remain in place due to Covid-19, with tourism and travel to Macao and Singapore currently limited, reducing the number of visitors to Sands’ casinos in the respective markets.
