Las Vegas Sands Posts $2 Billion Loss in 2020

Casino giant Las Vegas Sands has posted a $2 billion loss for the 2020 fiscal year as overall revenues for the company fell by 73.7% for the year.

Casino revenues were down 65.9% to $2.27 billion, while room revenues were down 72.5% to $498 billion. Beverage revenues dropped 68.7% to $283 million, and mall revenue was down 46.8% to $381 million. Convention, retail, and other revenue was also down 66.7% to $182 million.

Macau revenues were down 80.7% to $1.71 billion, leaving the company's overall revenues at $3.61 billion or down 73.7%. Coupled with expenses that largely stayed in pace, Las Vegas Sands posted a loss of $2 billion for the year.

Things may be looking up a bit for the company though, as former CEO Sheldon Adelson died earlier this month. Adelson was a staunch anti-online gambling activist and after his death, the company announced that they were looking to enter the online space. This could generate some positive revenues for the company, although they'll first have to partner with an online group or build their own platform.

About the author

Dustin Jermalowicz // News Editor
Dustin Jermalowicz
Dustin has a long-standing passion for gambling. He has been writing professionally on the subject and breaking industry news for Casino Listings since 2011. His favorite casino games include Blackjack, Poker, and Hi/Lo. A proud native of Detroit, Dustin currently lives in Michigan.
2 replies • Last post

Comments

bgsharpe
Forum AngelForum Angel
sharpe's picture
Location: Sofia, Bulgaria
Joined: 4 Nov 2014
Posts: 7427
Thanks given: 4055
Thanks received: 1121
29 January 2021 - 1:21pm
#1

The numbers there sounds staggering and I guess it's valid for the whole industry over the world so I presume more and more casino companies will restructure their business towards the online gambling...seems inevitable anyway...to survive in such situation.

lvblck
Forum AngelForum Angel
Location: The North
Joined: 6 Apr 2016
Posts: 3231
Thanks given: 217
Thanks received: 943
6 February 2021 - 9:44pm
#2

That is a huge loss indeed but it does make sense in times like these. As sharpe said these are common news for casinos, especially land based ones.

Post new comment

Have something to say? Agree or disagree? Tell us what you think!

Login using your social network account
Or log in with a Casino Listings account

Login or register to post comments

Registering for an account takes less than a minute and you will be brought right back here to comment afterwards.