Las Vegas Sands (NYSE:LVS) shares surged 6% in premarket trading after the casino operator posted better-than-expected second-quarter earnings and revenue, driven by record results in Singapore and a continued rebound in Macao.
Revenue for the quarter rose to $3.18 billion, comfortably beating estimates of $2.84 billion and marking a 15.2% increase from $2.76 billion in the prior-year period. Adjusted earnings per share reached $0.66, exceeding forecasts of $0.53.
Marina Bay Sands in Singapore delivered record performance, generating $768 million in adjusted property EBITDA, aided by a $107 million contribution from favorable high rolling play. Macao operations produced $566 million in adjusted property EBITDA, with a $7 million lift from high hold rates.
