In its latest report, the company revealed data regarding its financial performance for the four months ended December 31, 2022. Judging by the recent report, LVS reported revenue of $1.12 billion in Q4, 2022. This result, when compared to the corresponding period in 2021, marked a strong increase of nearly 11%.
Additionally, the company revealed that its operating loss in Q4 2022 was $166 million, compared to an operating loss of $138 million for Q4 2021. Further details released by LVS reveal that the net loss from continuing operations in Q4 last year was $269 when compared to $315 million for the corresponding period in 2021.
According to the latest report, the company’s consolidated adjusted property EBITDA in Q4 2022 was $222 million. This result marked a decrease when compared to the $251 million result from the same quarter the prior year. LVS’ latest report revealed that the consolidated hold-normalized adjusted property EBITDA for the quarter was $329 million.
Las Vegas Sands: Optimistic about the Future
Besides its Q4 2022 results, the company revealed data outlining its performance for the whole year. In total, LVS’ net revenue in 2022 hit $4.11 billion, marking a slight decrease when compared to the 2021 result which was $4.23 billion.
A breakdown of the $4.11 billion shows that the company’s casino operations were responsible for the lion’s share of the revenue, or $2.63 billion. The revenue from rooms in 2022 was $469 million, while mall revenue hit $580 million. Food and beverage operations and convention retail and other operations delivered $301 million and $133 million respectively in 2022.
“While travel restrictions and reduced visitation continued to impact our financial performance during the quarter, we remain confident in a robust recovery in travel and tourism spending across our markets and deeply enthusiastic about the opportunity to welcome more guests back to our properties throughout 2023 and in the years ahead.“
Robert G. Goldstein, chairman and chief executive officer at Las Vegas Sands
Robert G. Goldstein, Sands’ chairman and chief executive officer, acknowledged that reduced visitation and some travel restrictions had a minor impact on the company’s performance in Q4 2022. Still, he explained that the company remains confident about the recovery of the retail sector and the return to normal traveling. Goldstein added that Las Vegas Sands is excited to welcome more guests this year.
Focusing on the future, he predicted success for the company and acknowledged it is well-positioned for further growth, especially considering the increase in traveling. Finally, Goldstein said that Las Vegas Sands continues to explore opportunities for further growth within emerging markets around the globe.