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Las Vegas Sands Reports First Quarter 2020 Results

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For the quarter ended March 31, 2020 (Compared to the quarter ended March 31, 2019)

– Greatest Priorities Remain the Safety and Security of Team Members and Guests and Support for Local Communities in Macao, Singapore and Las Vegas

– The Company will Continue Previously Announced Capital Expenditure Programs in both Macao and Singapore

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– Strong Balance Sheet Positions the Company Well to Invest in Future Growth Opportunities

 

Las Vegas Sands Corp. (NYSE: LVS), the world’s leading developer and operator of convention-based Integrated Resorts, reported financial results for the quarter ended March 31, 2020.

“The impact of the Covid-19 pandemic on our business has been unprecedented, and I have never seen anything like it in my over seventy years in business,” said Sheldon G. Adelson, chairman and chief executive officer. “Our greatest priority during this difficult time remains our deep commitment to supporting our team members and to helping those in need in each of our local communities of Macao, Singapore and Las Vegas.

Despite these circumstances, our balance sheet strength will enable us to emerge from this pandemic with all our promising future growth opportunities fully intact. We remain extremely optimistic about an eventual recovery of travel and tourism spending across our markets, as well as our future growth prospects. We are fortunate that our financial strength will allow us to continue to execute our previously announced capital expenditure programs in both Macao and Singapore, while continuing to pursue growth opportunities in new markets.”

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Net revenue was $1.78 billion, a decrease of 51.1% from the prior year quarter. Operating income decreased 94.3% to $55 million. Net loss in the first quarter of 2020 was $51 million compared to net income of $744 million in the first quarter of 2019. Consolidated adjusted property EBITDA was $437 million, a decrease of 69.9% from the prior year quarter.

The company paid a quarterly dividend of $0.79 per common share on March 26, 2020. The company has suspended its quarterly dividend program due to the impact of the novel coronavirus (“COVID-19”) pandemic.

Sands China Ltd. Consolidated Financial Results

On a GAAP basis, total net revenues for SCL decreased 65.1%, compared to the first quarter of 2019, to $814 million. Net loss for SCL was $166 million, compared to net income of $557 million in the first quarter of 2019.

 

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Other Factors Affecting Earnings

Interest expense, net of amounts capitalized, was $131 million for the first quarter of 2020, compared to $141 million in the prior-year quarter. The decrease resulted from our weighted average borrowing cost in the first quarter of 2020 decreasing to 4.2%, compared to 4.6% during the first quarter of 2019.

Our income tax expense for the first quarter of 2020 was $25 million, compared to $85 million in the prior year quarter. The tax rate for the first quarter of 2020 was primarily driven by a 17% statutory tax rate on our Singapore operations.

Balance Sheet Items

Unrestricted cash balances as of March 31, 2020 were $2.60 billion.

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The company has access to $3.93 billion available for borrowing under our U.S., SCL and Singapore revolving credit facilities, net of outstanding letters of credit.

As of March 31, 2020, total debt outstanding, excluding finance leases, was $12.30 billion.

Capital Expenditures

Capital expenditures during the first quarter totaled $320 million, including construction, development and maintenance activities of $241 million in Macao, $33 million in Las Vegas and $46 million at Marina Bay Sands.

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Conference Call Information

The company will host a conference call to discuss the company’s results on Wednesday, April 22, 2020 at 1:30 p.m. Pacific Time. Interested parties may listen to the conference call through a webcast available on the company’s website at www.sands.com.

About Las Vegas Sands Corp. (NYSE: LVS)

Las Vegas Sands is the world’s pre-eminent developer and operator of world-class Integrated Resorts. We deliver unrivaled economic benefits to the communities in which we operate.

Sands created the meetings, incentives, convention and exhibition (MICE)-based Integrated Resort. Our industry-leading Integrated Resorts provide substantial contributions to our host communities including growth in leisure and business tourism, sustained job creation and ongoing financial opportunities for local small and medium-sized businesses.

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Our properties include The Venetian Resort and Sands Expo in Las Vegas and the iconic Marina Bay Sands in Singapore. Through majority ownership in Sands China Ltd., we have developed the largest portfolio of properties on the Cotai Strip in Macao, including The Venetian Macao, The Plaza and Four Seasons Hotel Macao, Sands Cotai Central and The Parisian Macao, as well as the Sands Macao on the Macao Peninsula.

Sands is dedicated to being a good corporate citizen, anchored by the core tenets of serving people, planet and communities. We deliver a great working environment for our team members worldwide, drive social impact through the Sands Cares charitable giving and community engagement program and lead in environmental performance through the award-winning Sands ECO360 global sustainability program. To learn more, please visit www.sands.com.

 

SOURCE Las Vegas Sands Corp.

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Caesars Digital

EVERI DIGITAL AND CAESARS DIGITAL LAUNCH CAESARS-BRANDED SLOT “CAESARS EMPERORS GOLD”

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Everi Digital, the online gaming business of Everi Holdings Inc., a premier provider of land-based and digital casino gaming content and products, financial technology, player loyalty solutions, and bingo, announced the launch of the custom-branded online game “Caesars Emperors Gold” on the newly-upgraded Caesars Palace Online Casino platform via a direct integration with Caesars Digital.

Now available to online players in Michigan, New Jersey, Pennsylvania, West Virginia, and Ontario, “Caesars Emperors Gold” is the second title Everi has developed specifically for Caesars Palace Online Casino and is a standard, five-reel video theme with mystery jackpots. The branded game also features iconic Caesars branding with Roman-esque statues for the reel array housing and the high paying symbols.

Everi has provided iGaming content to Caesars Digital for more than four years, and this launch is an extension of the companies’ ongoing collaboration. Everi Digital’s compelling game catalog now consists of more than 70 distinct titles with a footprint spanning North America and Europe. This portfolio of iGaming content is housed and delivered via Everi’s proprietary Spark™ Remote Game Server.

“This rewarding custom game launch with Caesars Digital deepens our strategy with a top-tier iGaming operator and brings Caesars online players in North America a new title with thrilling progressive jackpot opportunities,” said Jordan Brent, Everi Vice President, Digital Commercialization. “With the launch of the ‘Caesars Emperors Gold’ custom slot, it’s clear both Everi and Caesars are committed to providing unique experiences to engage online players.”

“Expanding our custom game catalog with Everi offers us another chance to captivate our online casino players with exclusive one-of-a-kind content and progressive jackpot opportunities that we know are in high demand with players,” said Ricardo Cornejo Rivas, Vice President of Online Gaming at Caesars Digital. “Everi’s games have already proven to be favorites at our various destinations and across our online casino platforms. The launch of ‘Caesars Emperors Gold’ should deliver a distinctive and enhanced online casino experience that will undoubtedly thrill our players.”

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Adrian Bailey

Top Performing Aristocrat Interactive Titles Now Live on Hard Rock Bet in New Jersey

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Aristocrat Interactive, Aristocrat’s new online Real Money Gaming division, and Hard Rock Digital announced the arrival of Aristocrat Interactive Content & Aggregation’s extensive suite of gaming content to HRD’s Hard Rock Bet online casino in New Jersey. Players of the Hard Rock Bet platform can now enjoy an impressive collection of Aristocrat Interactive’s most popular games within the state, whenever they seek entertainment.

Titles that will be available on Hard Rock Bet include Buffalo, Timberwolf, Wild Wild Emerald, Firelight II, Winfall Wishes, Wild Lepre’Coins, Twilight Forest, Frog of Riches, and Secrets of the Phoenix Elements. Currently available in New Jersey, Aristocrat Interactive and Hard Rock Digital look forward to launching Aristocrat Interactive gaming content together in additional states and markets in the future.

“Collaborating with Hard Rock Digital to offer our gaming content to their players via Fusion Aggregation platform is truly exciting. This relationship marks the beginning of bringing some of the most engaging gaming experiences on the market to the players of Hard Rock Bet,” Adrian Bailey, Managing Director of Aristocrat Interactive Content & Aggregation, said.

“The addition of these popular Aristocrat Interactive games to Hard Rock Bet is yet another way that we’re entertaining our players like no one else can. Since launching Hard Rock Bet in New Jersey, we’ve increased our casino offerings by nearly 1000 games and are excited to continue adding unique gaming experiences to our top-rated platform,” Grant Williams, Hard Rock Digital’s SVP of Casino, said.

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FBM

FBM® brings Asian fortune to the United States with Jí Hǎo Link™

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FBM® is ready to spread the golden wealth in the United States with the four slot themes of Jí Hǎo Link™ – Golden Lóng™, Fortunate Héping™, Eternal Fènghuáng™ and Great Weiyan™. This product line of Asian inspiration presents a new gaming experience to American players, merging captivating graphics and alluring sounds with amazing payouts offered by an attractive feature set.

The FBM slots portfolio keeps growing in the United States. After successful introductions of the Easy$Link™ and Mythic Link™ game suites, the global gaming brand takes another step in its growth path in the USA by installing Jí Hǎo Link at Hialeah Park Casino in Miami.

The brave white tiger, the powerful dragon, the wise turtle, and the eternal phoenix are the mythical creatures of the Jí Hǎo Link game suite united by a lucky pagoda that is deeply connected with ancient Asian culture.

WHAT DISTINGUISHES THE JÍ HǍO LINK GAMING EXPERIENCE?

Jí Hǎo Link delivers a vibrant entertainment experience to slot players in the US. The new games offer a diverse selection of features to ensure every moment is a thrilling adventure.

Heading these features is the astonishing Jí Hǎo Link bonus – a special feature triggered by the games’ pagoda which is sure to entice lucky slot players with potential riches. This bonus allows players to get a Mini, Minor, Major, or Grand jackpot and may also result in another fantastic prize. If players fill all 15 positions available on the reels, they will double the non-progressive prize amounts collected during the bonus rounds.

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Players may also get their hands on the golden coins spread by Jí Hǎo Link through the activation of the Triple Wild and Wild Multiplier game features in free spins mode. Triple Wild is available on Golden Lóng and Fortunate Héping making the Wild symbols fill all the positions of reels 2, 3 or 4 to guarantee better chances for big wins. Wild Multiplier is available on Eternal Fènghuáng and Great Weiyan multiplying earnings up to 30 times with the X2, X3 or X5 factors in the Wild symbols.

EXPANSION IS FBM’S WATCHWORD

Expansion continues for FBM with the Jí Hǎo Link product line, also available under the trademark Jin Qián Link™ in other markets. Following successful installations in Spain and impressive expansion in Mexico, FBM launches the slots suite in the United States at Hialeah Park Casino with a promising introduction and immense growth potential.

In the sequence of this remarkable step, Mike Medlin (Sales & Operations Manager at FBM) expressed his gratitude to Javier Fernandez (Slots Director at Hialeah Park Casino) and Steve Calabro (General Manager at Hialeah Park Casino) for their continued loyalty and support to FBM’s operation in the market, once again proved with the Ji Hao Link debut in the United States through the Hialeah Park Casino facilities.

FBM strengthens its position in the United States adding a new option to its game portfolio. This new step reaffirms the global gaming brand’s commitment to growing its market presence in the US with reliable and innovative games that add value for casino operators and provide thrilling entertainment experiences to their players.

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