February 1, 2021
Shortly after the passing of Sheldon Adelson, we now learn that Las Vegas Sands profits fell nearly $2.2 billion last year, thanks in large part to the pandemic and diminishing tourism to Nevada.
Room revenue fell almost 73% while food and beverage revenue was down 69%. Earnings from their conventions and retail shops fell 67%.
Company revenue fell over 70% last year to just $3.6 billion, which the company said was a direct result of the Novel Coronavirus. Macau profits were the worst hit, where restrictions on travel held the Sands in check for most of the year and resulted in a loss of over 80%.
The Venetian Macau brought in $738 million, but that was still a significant loss of nearly 82% from the previous year. Revenue from the Londoner Macau brought in $297 million, bey that was also a massive loss of over 85%.
You can read more about the dwindling Las Vegas Sands profits at iGaming Business.
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