Las Vegas Sands reports Q2 adjusted EPS 85c, consensus 90c Reports Q2 revenue $3.62B, consensus $3.8B. Adjusted EPS includes the impact of the initiation of a "14th month" special bonus accrual for non-management employees in Macao. Absent this accrual, Adjusted Property EBITDA would have been approximately $29M higher both in Macao and on a consolidated basis, and Adjusted Earnings per Diluted Share would have been 3c higher.
News For LVS From The Last 14 Days
Check below for free stories on LVS the last two weeks.
Macau estimates lowered at Morgan Stanle Morgan Stanley lowered Macau 2014 growth estimates to 6% from 12% and 2015 to 11% from 12.5% due to expectations for VIP trends to continue to deteriorate given the China macro impact and notes slowing mass growth rates.
Las Vegas Sands receives construction permit for Parisian Macao Las Vegas Sands announced that the company has received the government permit needed for construction on the $2.7B Parisian Macao to resume this week. The company said additional permits will be necessary as the development continues, but after undergoing a brief work stoppage, this approval enables work on the critical podium structure to restart immediately.