Las Vegas Sands Shares Third Quarter Financials

Land casino giant Las Vegas Sands has shared their third-quarter financial results, showing a decrease in revenues of 82% compared to the same time last year.

Key financial operators for the third-quarter ending September 30th, 2020 were:

• Revenues down 82% to $586 million
• Losses of $731 million in the quarter, due largely to the lack of foot traffic with Covid-19 restrictions in place
• Company mall revenues brought in $83 million, down 52.6% from last year
• Hotel revenues were down 82.7% to $79 million
• Food and beverage revenues down 72.9% to $54 million
• Retail and other revenues down 71.6% to $33 million
• Marina Bay Sands Casino in Singapore brought in $281 million, down 35.4% from last year
• Combined Sands property revenues were down 91.9% to $171 million

Covid-19 has caused the casino industry around the world to suffer financially, as properties in most countries have been forced closed for prolonged periods of time this year. Things are gradually opening back up, and we're starting to see losses lessen as time goes on.