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Gambling in the USA

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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Gambling in the USA

Gaming Americas Weekly Roundup – February 10-16

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Quick Custom Intelligence (QCI) has launched QCI Heatmap, an advanced contour heatmapping tool that transforms the way casinos interact with slot performance data. This release represents a unique modernisation of classic data visualisation techniques, reimagined using state-of-the-art graphics processing, machine learning and QCI’s proprietary intellectual property. Heatmapping has long been a valuable tool for understanding gaming floor performance, but traditional implementations were often limited by static visualisations, sluggish responsiveness and an inability to scale dynamically. With QCI Heatmap, the company has re-engineered these foundational techniques using modern high-performance rendering technology, GPU acceleration and AI-driven insights, enabling real-time, interactive exploration at a level never seen before.

FanDuel has revealed that during the 2024-25 NFL Season nearly half of its customers, approximately 3.5 million, reviewed their play activity using My Spend, a new personalised responsible gaming dashboard. The growing adoption demonstrates that customers are engaging with RG tools that provide personalized insights that help them to manage their time and spending on the platform. My Spend provides customers with detailed insights on their deposit and betting activity, including amount deposited and net winnings over the last seven days, four weeks or three months. The My Spend dashboard also encourages customers to utilise the existing suite of responsible gaming tools FanDuel offers, including deposit limits and wager limits.

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Partnerships

SCCG Management has entered into a strategic partnership with Tecpinion, a premier provider of custom development and ready-to-launch, 100% customisable iGaming platforms with full ownership. Tecpinion delivers state-of-the-art platforms for sweepstakes casinos, social casinos, sports betting, online casinos, fantasy sports, crash games and more, with integrated solutions such as multi-lingual support, payment gateways and referral systems that cater to a global audience. SCCG Management will provide business development support, sponsorship exposure and strategic distribution opportunities, leveraging its extensive global network to position Tecpinion as a go-to provider for gaming operators looking to scale efficiently.

Major League Baseball and Sportradar announced a long-term extension and expansion of their decade-long partnership, set to begin with the 2025 season, aimed at unlocking the full potential of MLB’s data and audiovisual (AV) content while growing America’s pastime worldwide. As part of the agreement, MLB has acquired an equity stake in Sportradar, further solidifying the partnership between the two organizations and supporting future growth opportunities. Under the new terms, Sportradar, in partnership with MLB, will exclusively distribute MLB’s ultra-low latency official data, media content, including MLB Statcast Data, and AV content across its global client network, which spans 800 sportsbook clients and 900 media companies.

SYNOT Games has entered into a new partnership with Novibet in Brazil. This collaboration marks a significant milestone in SYNOT Games’ expansion into the burgeoning Brazilian iGaming market. This deal introduced Novibet’s players in the Brazilian region to an impressive portfolio of 85 premium games, including some of SYNOT’s most popular and highest-grossing titles such as Fruity Gold 243 and 100 Stunning Fruits. The launch comes at an exciting time for the Brazilian online gaming industry, which is experiencing rapid growth thanks to increasing player demand and favourable regulatory developments.

The post Gaming Americas Weekly Roundup – February 10-16 appeared first on European Gaming Industry News.

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Gambling in the USA

Gaming Americas Weekly Roundup – February 3-9

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Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.

Latest News

Governor Joe Lombardo has announced the appointment of Chandeni Sendall to the Nevada Gaming Control Board. Since 2015, Ms. Sendall has served as a Deputy City Attorney for the City of Reno, practicing in the civil division. Before her work in the Reno City Attorney’s Office, Ms. Sendall worked in civil and commercial litigation, served as an in-house legal intern for Caesars Entertainment, and clerked for the Honorable James W. Hardesty at the Nevada Supreme Court. While attending the William S. Boyd School of Law, Ms. Sendall served as the Editor-in-Chief of the UNLV Gaming Law Journal. Before her legal career, she served for several years as an Internal Auditor for Caesars Entertainment.

TheLotter US has send a reminder to customers to be vigilant against online phishing scams and fraudulent websites. With online lottery courier services growing in popularity, cybercriminals often target unsuspecting individuals with fraudulent emails and messages that falsely claim recipients have won a lottery prize. TheLotter Group’s announcement follows their fraud team’s discovery of phishing attempts, including several fraudulent websites impersonating the courier service’s platform.

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The Pennsylvania Gaming Control Board has approved three consent agreements presented by its Office of Enforcement Counsel resulting in total fines of $282,205. The largest of the fines is $260,905 and was assessed against Interactive Gaming Operator BetMGM for 152 instances in which an individual on the Board’s Interactive Self-Exclusion List was permitted to gamble on their sites. Licensed operators of iGaming sites in Pennsylvania must deny individuals on the self-exclusion list from establishing or maintaining an interactive gaming site.

Zitro Digital has announced its entry into the newly regulated Brazilian iGaming market. With deep roots in Brazil, Zitro Digital is to bring its portfolio of in-house content to local players, marking a new chapter in the company’s long-standing connection with the country. Brazilian players can now enjoy a selection of Zitro Digital’s slots, including the popular series Fu Frog, as the company introduces its offerings to operators within the country. The move comes as part of Brazil’s ongoing efforts to create a regulated and secure online gaming environment for players, offering a responsible platform for gaming activities.

Partnerships

Everi Holdings Inc in an agreement with 1/ST, North America’s preeminent Thoroughbred horse racing and pari-mutuel wagering company, announced the launch of their new mobile app and wagering experience, Gulfstream Racing. The new Gulfstream Racing App is now available in the Apple App Store. This launch is part of Everi’s strategic expansion into Sports and Entertainment following its acquisition of Venuetize in 2023 and expands the company’s footprint in the horse racing segment. Gulfstream Racing will be a valuable companion app for guests seeking the premier hospitality experience that 1/ST provides.

Payflo Inc. has entered into a partnership with MoneyGram to deliver cash-in and cash-out payment solutions tailored for U.S. gaming, lottery and marker settlement, marking a first-of-its-kind milestone in the industry. Payflo and MoneyGram introduced a customer-driven solution—enabled by the simple integration of Payflo’s advanced payment processing technology with MoneyGram’s technology-powered, extensive network and trusted financial infrastructure.

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Aaron Gomes

Revo Casino and Social House in Conway Holds Grand Opening

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Revo Casino and Social House in Conway, New Hampshire, has held its grand opening on Tuesday.

The Conway property is the latest addition to Revo’s growing presence in New Hampshire, joining locations in Dover, Lebanon, Manchester, and Keene.

Revo Casino and Social House’s new amenities include:

• Rebels: A bold dining experience with a full bar and great game-day energy. Revo’s signature restaurant serves up flavorful dishes like the Rebel Smash Burger, flatbread pizzas, and prime rib, making it the perfect spot to eat, drink and enjoy the action.

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• Rebel Stage: Featuring live music every weekend.

• Revo Studio powered by iHeartMedia: An in-house broadcast center featuring live iHeart broadcasts. The studio also drives the Soundtrack of the Revolution, a curated music selection that sets the energy and vibe of the property.

Gaming Highlights: 75 thrilling casino machines, including Ultimate Fire Link Explosion, Huff N Even More Puff, and Devil’s Lock. Table games, including blackjack, roulette, and poker tables.

Speakers and guests at the event included Revo President Aaron Gomes, Executive Director of Mount Washington Valley Promotions Lisa DuFault, and the Mount Washington Valley Chamber of Commerce.

“It’s exciting to open Revo Casino and Social House and see the community’s enthusiasm for our gaming, entertainment and dining options. Beyond entertainment, Revo Casino and Social House will also support nonprofits across the Mount Washington Valley. We’re proud to be part of this community and contribute to its success,” said Gomes.

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“This facility will make such an incredible difference for so many nonprofits in the Mount Washington Valley. The support that Revo Casino and Social House provides allows organizations like ours to better serve our communities and care for those in need. The impact is truly life changing,” said Lisa DuFault, Executive Director of Mount Washington Valley Promotions.

The post Revo Casino and Social House in Conway Holds Grand Opening appeared first on Gaming and Gambling Industry in the Americas.

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