Las Vegas Sands Announces New Plan to Pay Workers

Casino companies around the United States are working hard to bring in revenue right now. Some are being forced to lay off a huge number of their employees as a way to cut down on costs. New reports are now surfacing that indicate Las Vegas Sands plans to continue paying its workers through October.Las Vegas Sands Logo

It’s great news for the employees of this company. Some are surprised at the news, considering the recent revenue reports on this major casino company. Today, we’re going to look at some of the strategies that LVS has planned to survive the next few months.

Let’s get into it!

Nevada’s Casino Companies Continue to Lose Revenue

If you told some of the officials within Nevada’s biggest casino companies in January that the Las Vegas Strip would be forced to shut down for months, they probably would have laughed. It seemed almost impossible at the beginning of this year. For almost three months, however, that’s exactly what happened.

As Covid-19 started to spread throughout the United States, leaders in Nevada began looking at safety plans. Eventually, the decision was made to shut down all of the casinos in the state. At that time it wasn’t entirely clear how big of an impact this would have.

The effects of the casino shutdown became clear right away. The state’s tourism industry immediately shut down. Many local businesses that were tied to this tourism industry began losing an incredible amount of money.

As we’ve already covered, Nevada’s casinos were allowed to reopen on June 4th. Since that time, rates of tourism here have fluctuated. This week, reports on gambling revenue in Nevada for the month of June were released. As many predicted, the casinos here earned considerably less than they did in June of 2019.

Las Vegas Sands also recently released their revenue reports for 2020’s second-quarter. Company officials announced that revenue was down 97% from the same three months last year. Some felt this drop in revenue would result in major job layoffs.

Interestingly, that doesn’t appear to be the case.

Las Vegas Sands Will Pay Workers Through October 31st

The US casino industry is in a very unusual position. Some casino companies are now focusing much more on their online gambling platforms. Others are trying to improve their safety measures to make casinos more appealing to players.

Of course, as revenue continues to drop, casino companies are being forced to take more drastic measures. Many are now laying off thousands of workers around the country. It’s sad news for many who rely entirely on these gambling venues for employment.

Not every casino company is taking these measures, though. This week, Las Vegas Sands CEO Sheldon Adelson released an official statement that confirms the company’s commitment to its employees. Here’s what the company is promising.

“This pandemic has not only changed how our business operates; it has changed almost everything about our daily lives,” the statement said. “What has not changed is our commitment to you.”

Incredibly, Las Vegas Sands has announced that it will pay all of its employees until at least October 31st. Hope is that by then, revenue figures will be significantly higher than they currently are. It’s great news seeing LVS committed to its employees.

As of now, Las Vegas Sands seems to be the only US casino company that has not laid off its workers. We’ll need to wait and see how this company manages to increase its revenue flow over the next couple of weeks.

All Atlantic City Casinos Are Now Open to the Public

Las Vegas has been open for almost two months. Over in Atlantic City, things are just finally starting to come together. Governor Phil Murphy started allowing casinos in New Jersey to reopen in early July. Now, every casino in this city is now open again.

The Borgata Hotel-Casino officially opened its doors this past Sunday. As many already know, this casino is the biggest revenue-earner in Atlantic City. Some experts feel that the opening of this venue will help to boost tourism in this city.

Unfortunately, not all of the casino companies here are not taking the same approach as Las Vegas Sands. Some are being forced to lay off a huge number of workers. Many unions are now calling for better job safety for casino employees.

Infection rates of Covid-19 continue to increase around the country. While this happens, fewer people around the country are interested in traveling. This means that casino companies are likely to continue losing money.

Everyone wants to see things get back to normal. The US casino industry is in a very unusual position right now and some feel it may never truly get back to normal. Hope is that casinos find new and effective ways to increase revenue and keep their workers employed.

Are you surprised that Las Vegas Sands is taking this approach? Let us know in the comments section below!

The Las Vegas Sands Revenue Reports Are Out!

Las Vegas Sands is one of the biggest and most successful casino companies in the United States. Unfortunately, it’s been experiencing a major drop in earnings over the past few years. This week, the Las Vegas Sands revenue reports surfaced and many are shocked to see how far things have dropped.Las Vegas Sands Logo

The truth is that all US casino companies are seeing their revenue figures decrease. This is a tough time for this industry. Today, we’re going to look at how much money LVS managed to bring in during 2020’s second quarter.

Let’s get into it!

Tourism in Las Vegas Continues to Drop

Las Vegas is home to the world’s greatest casino-resorts. Some of these were constructed decades ago. Others are brand new. There are even a huge number of world-class properties being constructed here right now!

Unfortunately, tourism into Las Vegas has been dropping steadily over the past few weeks. As you probably already know, rates of Covid-19 continue to increase around the United States. That’s certainly the case in Nevada.

Nearly 40,000 cases have already been reported in this state. The vast majority of cases are in Clark County. Thousands of new cases have been recorded in Clark County over the past couple of weeks alone.

The casinos in Las Vegas rely on tourism. Unless visitors are flocking to the city, these massive properties won’t earn any money. It’s no surprise that most casinos here have been seeing their revenue drop considerably.

Hotel-casinos in the city are doing everything they can to increase their profits. Some have decided to cut down on the number of rooms available. Others are offering travel deals to attract more players. None of these efforts seem tremendously successful.

We’re now starting to hear about exactly how much money the casino companies here are losing.

Here’s What the Las Vegas Sands Revenue Reports Say

We all knew that casinos in Nevada are hurting. With that being said, it’s jarring to see exactly how much money these properties are losing. Over the past couple of days, more of Nevada’s casino operators have been reporting on their second-quarter revenue earnings.

The Las Vegas Sands revenue reports are coming out. According to these reports, this massive casino company has seen its revenue drop by an incredible 97% last quarter when compared to the same three months in 2019. That makes this the worst quarter in the company’s history.

Through April, May, and June, this company brought in just $98 million. That’s an incredible drop from the $3.3 billion made over the same three months last year. Chief Operating Officer Rob Goldstein spoke about the reports during a media conference call this week.

“We’re in a world of hurt here, in terms of Las Vegas,” Goldstein said. “Vegas is dependent on airlift, it’s dependent on group and convention. It’s not a casino-driven market anymore, so we’re struggling here. And I think I speak for Las Vegas – Venetian and Palazzo – that I assume that may translate to other properties as well.”

CEO Sheldon Adelson claims that the recovery process is underway. It’s guaranteed that 2020’s third quarter will be better than the second one. Unfortunately, things are likely to remain very tough for this company throughout the year.

Are any of these companies in danger of going under?

Looking at the Future of the US Casino Industry

The entire world is in an unprecedented time right now. A huge number of industries have been affected by the global pandemic. Some may never recover. Many analysts are trying to understand the long-term effects on the land-based casino industry.

Obviously, things are incredibly difficult for casino companies right now. If rates of Covid-19 begin to drop, however, the industry could be poised for a major comeback. Many international casino destinations with low infection rates are seeing their gambling revenue increase.

Some of the smaller casinos may end up being forced to permanently close down. That’s unlikely to happen with the big ones, though. These companies are likely to receive funding from the government.

Most US casino companies are now focusing on their online gambling operations. Ones with property in states with legal sports betting are seeing their earnings come mostly from this industry. Of course, the real money will always be in gamblers playing inside the casinos.

Only time will tell how long it takes for casino revenue to return to the way it was in 2019. There are many factors in play that will have an impact.

Are you surprised to see the Las Vegas Sands revenue reports? How much money do you think this company will make in quarter three of this year? Let us know in the comments section below!

Here’s an Update on the Reopening of the LV Venetian

Las Vegas is home to some of the biggest and best casino-resorts in the world. That includes the Venetian Casino-Resort, located directly on the Strip. This week, officials within the Las Vegas Sands Corp. offered an exciting update on the reopening of the LV Venetian.Venetian and Palazzo Casinos in Las Vegas

Many believe this is the best casino in Nevada. Today, we’re going to discuss when the Venetian may allow guests to return. We’ll also look at what some of the other casino companies in Las Vegas have planned for the future.

Let’s get into it!

Las Vegas Casino Guidelines Have Been Approved

Things are very different in Las Vegas right now. They have been for months. Casinos remain shut down and the normally-bustling Strip is now essentially empty. People around the country have been discussing when the city can finally get back to some sense of normalcy.

That can’t be accomplished unless casinos reopen. This city is known as the gambling hub of the United States. Some of the world’s best gambling venues and hotels are located here and under normal circumstances, they make a killing.

All of the casinos in Nevada have been closed since March. It’s been devastating for this city that’s known to rely so heavily on its gambling and tourism industry. Fortunately, things may begin to change over the next few weeks.

Not long ago, Nevada’s Gaming Commission officially approved a set of guidelines to reopen the casinos here. This government body seems to feel that enough safety measures can be set in place to keep the public safe inside these gambling venues. Some are complaining that these guidelines have not been made public, though.

This approval was a big moment for the state and many of its residents. Reopening casinos is one of the most important ways to restart the state’s economy. This week, one of the biggest and most beloved casino-resorts in Las Vegas revealed it’s likely to open back up next month.

Officials Offer Exciting Update On the Reopening of the LV Venetian

Those who have been to Las Vegas have probably checked out The Venetian Casino-Resort. It was first constructed back in 1999 and is considered one of the best venues in the entire city. When included into the entire Venetian Resort Complex, it’s the second-largest hotel in the world.

The Venetian is owned and operated by Las Vegas Sands, one of the biggest and most profitable gaming companies in the United States. Like all other casino companies in Las Vegas, LVS is losing an incredible amount of money every day due to the current regulations. That may finally change next, though.

Today, this casino’s website revealed that it’s accepting reservations beginning on June 1st. A new company statement claims that the reopening of the LV Venetian will come in several stages. Fortunately, the casino floor is expected to open back up, as well as more than a dozen restaurants.

This casino-resort will be operating under the Venetian Clean guidelines. This is intended to minimize the risk to guests and staff. This casino also claims it will test all employees for Covid-19 in the weeks leading up to opening day.

Many are already getting excited. The reopening of the LV Venetian means that more major casino-resorts are set to do the same. Hope is that enough tourists begin flocking to the city to start turning things around.

Here’s what some of the other major Las Vegas casino-resorts have planned.

More LV Casino Companies Prepare for Reopening

Las Vegas Sands is just one of many companies currently suffering from the casino shutdown in Nevada. As time goes on, however, more of these companies are beginning to make plans for a major reopening. That’s especially true now that The Venetian plans to accept guests next month.

MGM Resorts is working to entice guests in a number of ways. News has just surfaced that the company will offer free parking upon reopening. Owners of the Cosmopolitan Hotel & Casino are taking the same approach.

Wynn Resorts has been working on reopening plans for weeks. It seems likely that thermal cameras will be installed inside the casino to detect those with a fever. There’s even a rumor that Las Vegas Sands is considering purchasing Wynn Resorts.

Things are stranger in Las Vegas right now than ever before. No one really knows how things will look even after the casinos open their doors to guests. Will Las Vegas stop being what it grew so popular for?

The reopening of the LV Venetian is now slated for June 1st. Nevada’s state leaders are likely to comment on this decision over the next few days.

Are you excited to see casinos open back up in Las Vegas? Will things be the same as they were before here? Let us know what you think in the comments section below.

Las Vegas Sands is No Longer Interested in Japan

Las Vegas Sands is one of the biggest and most successful casino companies in the United States. For years, this company has discussed opening a new casino-resort in Japan. Interestingly, news is now coming out that this company is giving up its plans to break into the Japanese market.Las Vegas Sands Logo

It’s not entirely surprising. It will be very tough for any major casino company to invest billions into a new property right now. Today, we’re going to discuss the reasons that Las Vegas Sands is now choosing to stay out of Japan.

Let’s get into it!

Officials Within LVS Continue Looking at Plans to Reopen Las Vegas Casinos

The past two months have been the hardest-ever for Las Vegas casino companies. All of the companies with casino-resorts in this city have seen their revenue plummet after being forced to shut down. Incredibly, it’s still unclear when exactly casinos in Las Vegas will be able to open their doors again.

That isn’t stopping casino companies from coming up with plans to reopen their casinos. Las Vegas Sands has been one of the most active companies working to reopen its gaming venues. Company officials have proposed many measures to safely allow guests in again.

Fortunately, things are improving. Last week, the Nevada Gaming Commission approved a set of guidelines for reopening casinos. This government body wants to ensure that casino companies are taking the necessary steps to protect their employees and patrons.

Company officials at LVS already have several safety measures planned. That includes multiple Covid-19 tests for its employees. As most already know, this company owns and operates the Venetian and Palazzo Hotel-Casinos. LVS plans on doing multiple tests for its employees before the casinos reopen.

If all goes according to plan, things will start getting back on track sometime in June. Until that time, however, companies like Las Vegas Sands will continue to lose a huge amount of revenue every single day. News is now coming out that this company is giving up its plans to break into Japan.

Las Vegas Sands Announces it’s Giving Up Casino Plans in Japan

For many years, Japan had some of the strictest gambling laws in the world. The government here worked to ban virtually all forms of traditional gambling. To the surprise of many, things changed in 2018 when lawmakers here decided to legalize casinos.

Under the set of laws, three casino-resorts will be given permission to open in this country. Many analysts predict that Japan will quickly grow to become one of the most lucrative casino markets in the entire world. As a result, many of the top casino companies in the United States have been pushing to obtain a casino license here.

That includes Las Vegas Sands. Initially, this company announced it wanted to open an integrated resort in the city of Osaka. Later, it abandoned these plans and claimed it was focused on opening a gambling venue in Tokyo.

Now, it seems this company is giving up its plans to break into the Japanese market. According to a report by Bloomberg, the fact that casino licenses would only be good for 10 years was a major factor in this decision. LVS CEO Sheldon Adelson released a statement on this situation to the media this week.

“We are grateful for all of the friendships we have formed and the strong relationships we have in Japan, but it is time for our company to focus our energy on other opportunities,” Adelson said. 

Many believe the situation at home in Las Vegas is also playing a major factor in this decision. It would cost an incredible amount of revenue to open a Japanese casino-resort and at the moment, all US casino companies are bleeding money.

Which Major Casino in Las Vegas Will Open First?

In some ways, casino companies in Las Vegas have been in a race to reopen. All of the companies here have been working with city and state officials on ways to safely resume operations. With guidelines now approved, many feel we’re just a few weeks away from seeing the Las Vegas Strip reopen.

It’s still unclear which of these casino-resorts will be the first to reopen. Not long ago, we reported that some of MGM Resorts’ properties including the New York-New York Hotel & Casino and The Bellagio might be the first to open again. Some now feel that the casinos owned by Las Vegas Sands will be the first to start accepting guests again.

As we mentioned earlier, this company already has a number of safety measures set in place. Guests and employees will be required to wear masks. Thermal cameras may also be installed to identify those with fevers.

Some feel Wynn Resorts will be the first casino company to get things back on track. Not long ago, news broke that this company saw its revenue decline by 42% for the first three months of the year. Officials are doing everything they can to change that trend for 2020’s second quarter.

The truth is that no one knows when Las Vegas will start getting back to normal. Things are constantly changing and Governor Steve Sisolak may decide to extend the state’s current measures. It’s an incredibly tough situation.

We’ll need to wait for more news on Las Vegas’ casino plans. Stay tuned for updates!

Las Vegas Sands Company Suspends Dividend Program

The Venetian Las VegasBecause of the impact the coronavirus crisis has made on Las Vegas’ economy, Las Vegas Sands made the decision to suspend its dividend program, according to a statement made on Thursday from Sheldon Adelson, the company’s Chairman and CEO.

The decision was made with strong consideration of how well their balance sheet would fare, with Adelson calling it a “necessary component” when it comes to long-term stockholder value.

Adelson, who is the largest shareholder of Las Vegas Sands company, assured the public that his goals and interests are “directly aligned” with the interest of every shareholder. It’s through their balance sheet that Adelson believes the company will bounce back victoriously from the virus’ impacts.

Those interests are future-oriented and optimistic, according to Adelson. The company foresees many strategic opportunities coming out of its decision to suspend the dividend and looks forward to watching those opportunities come to life once the virus is out of the question.

Adelson also added that the company will revisit the dividend suspension whenever the first reasonable window presents itself.

Company’s Most Recent Dividend

The company’s latest dividend was recorded on Jan. 29. During that last dividend, quarterly dividends of $0.79 per share were taking place.

That’s a lot lower than their 2019 amount per share for dividends, which was $3.08 per share.

Back in 2019, Las Vegas Sands board of directors announced their plans to raise the company’s recurring common stock dividend .10 cents higher, to $3.16 per share in 2020. This is according to filing information found on the Securities and Exchange Commission.

COVID-19 Impact on Las Vegas Sands Corp.

In Adelson’s statement, he explained how in his over seventy years in business, that he’s never seen anything like the economic impact caused by the coronavirus crisis on their business, calling it “unprecedented.”

In March, shares of casino giant Las Vegas Sands (NYSE:LVS) fell 27.2%, according to data provided by S&P Global Market Intelligence. In April, shares dropped 10.7%.

Luckily, Las Vegas Sands has over $4 billion of cash on its balance sheet. That’s good news, along with the fact that the company’s Asia properties are open for business (In February, their properties closed for 15 days before reopening).

If the company’s Macau and Singapore properties are able to able to bring in cash flow during this time, it could be the financial support that could bridge in the gap of losses being incurred on the American properties’ front.

Uncontrollable Factors

While we’re glad that Las Vegas Sands is taking a resourceful and optimistic approach to the economic downfall caused by COVID-19, we do understand that for things to look back up for the industry, it will depend on several uncontrollable factors.

Some of those factors include the extent and duration of the outbreak, the response of government authorities, general economic conditions, operational results, cash flows, development processes, liquidity and more.

COVID-19 Impact on Las Vegas as a Whole

A recent study found that Nevada’s economy ranked as the second most vulnerable in the country after Maine.

It makes sense. The town is built around tourism and gaming, and with social distancing guidelines in full effect, it cancels out the reality of a traditional Vegas in the meantime.

Traditional Vegas which like droves of crowds gathered together, walking on the Las Vegas Strip and admiring the sites, gamblers going in and out of casinos, touching slot machines and playing at table games and what have you.

The Vegas we all know and love simply could not exist during a global pandemic on this scale. With casinos closed and nonessential businesses shuttered, it helps to avoid a possible disastrous spread of the virus.

Las Vegas Sands Still Serving as a Major Community Aid During Crisis

While Las Vegas Sands has been hit hard by the pandemic, much like every other major casino operator in Las Vegas and the rest of the country, the company has still found ways to support the community in big ways.

On April 1, the company announced they would be donating two million pieces of protective personal equipment (PPE) to Nevada and New York.

They sent one million masks each to each state and provided the local healthcare industry with 20,000 protective suits.

The company also pledges to give $250,000 to local organizations that help in providing food and other vital supplies to individuals during the COVID-19 crisis.

About Las Vegas Sands Corp.

The Las Vegas Sands Company is an American casino and resort company based in Paradise, Nevada.

It includes world-famous US properties The Venetian, The Palazzo, Sands Expo & Convention Center in Las Vegas, as well as its overseas Asian properties in Macau and Singapore, including Sands Macao, The Venetian Macau, The Plaza Macao, The Parisian Macao, Marina Bay Sands, and Sands Cotai Central.

Stay Tuned

With the casino closures lasting until April 30, unless Gov. Sisolak decides to further extend the order, it’s no surprise that casino operators are looking for resourceful ways to keep themselves afloat amid the economic downfall caused by COVID-19.

We hope that casinos not only in Las Vegas but the rest of the country will be able to come back strong and in good standing once everything blows over and returns to normal.

Until then, we’re keeping the faith and staying on top of the coronavirus coverage in Las Vegas.

Be sure to keep checking back for updates to see how the situation will continue to unfold in Sin City.

Las Vegas Sands Stock Prices Are Fluctuating Right Now

Today, Las Vegas Sands is one of the biggest and most profitable casino companies in the world. It operates major casino-resorts around the world and continues to expand into new territories. In recent weeks, Las Vegas Sands stock prices have begun to fluctuate.Las Vegas Sands Logo

There are several reasons why this is. Today, we’re going to discuss the company’s current share prices and look at how they might change over the next few months.

Let’s get into it!

2019 Was an Interesting Year for Las Vegas Sands

Few major casino operators are as well-known as Las Vegas Sands. The company was founded back in 1988 by Sheldon Adelson, who has remained CEO ever since. Over the past few decades, this company built massive casino-resorts all over the US and abroad.

2019 proved to be a very interesting year for LVS. Gambling revenue rose and fell. In the year’s second quarter, revenue appeared to be soaring. In the third quarter, revenue earnings came in slightly lower than expected.

LVS ended the year strong financially, yet the company was forced to deal with several nagging issues. This includes a lawsuit against the aforementioned Sheldon Adelson. One of Las Vegas’ local newspapers filed a lawsuit against the CEO for attempting to monopolize the city’s news industry.

Las Vegas Sands continued to invest heavily in its overseas companies last year. This is especially true in Macau. More than $2 billion is being spent on upgrades to the properties here including the Venetian Macau, and Sands Macau.

Some felt this was a risky move. Macau’s gambling revenue has been declining due to the drop in China’s economy. Recently, Las Vegas Sands stock prices have been fluctuating and analysts are beginning to pinpoint why.

Las Vegas Sands Stock Prices Dropped This Week

Officials within LVS have been celebrating for the past few months. Since November, the company’s share prices have risen by an incredible 15%. Most of this is due to the Chinese government’s plan to diversify Macau into a major financial hub.

That’s not the only major accomplishment for the Las Vegas-based casino operator. Just last week, LVS earned a spot on the “world’s most admired companies” list for its efforts to fight against climate change. It seemed like everything was going right thus far into 2020.

This week, however, Las Vegas Sands stock prices have taken a slight hit. This is largely due to fears of the coronavirus affecting the company’s operations in Macau.

For weeks, China has been working to contain a deadly new virus known as 2019-nCoV. It originated in Wuhan and quickly spread throughout the country. There have even been recorded cases in Thailand, Japan, and the United States.

The concerns over this virus have taken a toll on LVS’ share prices. On Tuesday, the company’s stock fell 4.3% to $70.85.

This isn’t the only company that’s taken a hit due to the coronavirus.

Wynn Resorts also experienced a drop in its stock prices. Until the outbreak is contained, this trend is likely to continue.

Las Vegas Sands Continues to Push for Tokyo Casino

Las Vegas Sands, like almost all other major US casino companies, has been pushing hard to break into the newly-emerging Japanese casino market. Over the next few years, three companies will be handed out a license to operate casino-resorts in this country.

Based on several reports, Japan will grow to have one of the largest casino markets in the world. Each of these casino-resorts here will cost billions of dollars to construct.

For a time, officials within Las Vegas Sands announced they were interested in opening one of these venues in the city of Osaka. That is no longer the case. The company now claims that it is focused on opening an integrated resort in Tokyo. Many analysts believe that LVS will be one of the three companies the Japanese government chooses to grant a gaming license to.

Las Vegas Sands stock prices have temporarily dropped. Hopefully, this won’t last long. We’ll need to wait and see exactly how the virus in China affects Macau’s economy.

Stay tuned for more Las Vegas Sands news over the next few months!

Japan Begins to Study the Las Vegas Casino Model

In 2018, lawmakers in Japan officially approved a bill that legalizes casino gambling. It was a huge moment for the country, which had previously banned almost all forms of gambling. Officials here are still working to create a plan for the three casino-resorts to begin operating. Recently, Japan has begun to study the Las Vegas casino model for support.Famous Las Vegas Sign

Las Vegas is still considered the gold standard for the US casino industry. Here, most of the country’s top gambling venues are located. Let’s take a look at what Japan hopes to learn from this city.

Lawmakers in Japan Continue to Debate Over Regulations

For a time, it seemed as if Japan would never open up its casino industry. For decades, nearly all forms of gambling have been strictly prohibited in this country. Only mahjong, a tile-based skill game, allows individuals here to wager money.

It seems that the country’s lawmakers finally realized how much money they were missing out on. Nearby Macau is considered the biggest gambling hub in the world. Even the Philippines now operates a massively successful casino industry.

In July of 2018, Japan officially decided to legalize casino gambling. Under the current plan, three casino-resorts will be allowed to open in the country. Before this can happen, though, lawmakers are coming up with a set of regulations.

Government officials here want to ensure that rates of gambling addiction and crime do not increase once casinos are introduced. Today, a huge number of countries in Europe are dealing with rises in problem gambling. Several regulations have been introduced in Japan to avoid this, yet lawmakers are still debating exactly what should be allowed and what should not.

The first gambling venue will not begin operating in Japan for at least a couple more years. In the meantime, officials will be working to come up with an exact plan for the casino-resorts to get up and running.

Japan Looks at the Las Vegas Casino Model For Support

There is no better city to look for regulation over a casino market than Las Vegas. As we already mentioned, many of the world’s biggest and best casino-resorts are located here. Officials in the city have decades of experience monitoring and taxing casino-resorts.

Recently, several officials in the Japanese casino industry have begun asking for help from Las Vegas gaming regulators. Not long ago, these officials invited Becky Harris to speak on effective casino regulation. Harris recently spoke with the Las Vegas Review-Journal about her experience in the country.

“Japan is still working on creating their regulatory environment, so there’s a lot of speculation as to what that could look like,” Harris said. “One of the models that Japan is looking at is Nevada, so there were some questions about the way that Nevada regulations work.”

Macquarie analyst Chad Beynon claims that Japan is looking to implement similar measures that Las Vegas currently has. Not everything will be applicable in Japan, yet the Las Vegas casino model should provide a solid regulatory outline.

Analysts Continue to Expect a Bright Future For Japan’s Casino Industry

Almost immediately after the news broke of Japan’s legalization of casino gambling, analysts began predicting how profitable the market would become. New reports indicate that it will grow to become the third-largest casino market in the world. Some even claim it will generate $25 billion annually.

Unsurprisingly, a huge number of major US casino operators are attempting to break into this market. MGM Resorts International, Wynn Resorts, and Las Vegas Sands have all expressed a desire to break into Japan.

Interestingly, Caesars Entertainment claims that it’s no longer interested in entering Japan. The company is set to merge with Eldorado Resorts. It seems highly unlikely that a move into Japan is even possible for Caesars right now.

Officials are still waiting to choose which three companies will be granted a casino license here. Based on what’s being said, both MGM Resorts International and Las Vegas Sands seem the most likely.

We’ll need to wait and see how much the Las Vegas casino model influences Japan. Make sure to stay tuned for more updates over the next few weeks!

Las Vegas Sands Revenue Reports Are Revealed

One of the biggest and most profitable casino companies in the world has just released it’s Q3 financial reports. Interestingly, the Las Vegas Sands revenue came in slightly lower than anticipated. It’s a disappointing blow for this company, which is currently working to expand its presence overseas.

Las Vegas Sands Logo

Today, we’re going to look at exactly how much money this company managed to bring in over 2019’s third quarter. We’ll also look at some of the things LVS has planned over the next few years. Let’s get into it!

2019 Proves to Be an Interesting Year for Las Vegas Sands

As we’ve already mentioned, Las Vegas Sands is one of the biggest and most lucrative casino companies in the world. It’s had an interesting 2019, with fluctuating revenue earnings and continued expansion in Asia. Fortunately, the company’s quarter two financial reports came out solid.

In quarter two, LVS revenue jumped by more than 15% when compared to the same month in 2018. The company recorded a net income of $1.108 billion and had a stock share price of $1.24. Rob Goldstein, CEO of the company, claimed it was the best quarter in LVS’ history.

Officials within Las Vegas Sands have made it clear that they are continuing to invest abroad. Macau, in particular, is a major investment point for this company. LVS is continuing to invest more than $2 billion into its operations in Macau.

To some, this is a cause for concern. Macau has struggled to generate revenue for almost all of 2019. The US-Chinese trade war and protests in Hong Kong have lessened the number of gamblers visiting this city. Las Vegas Sands isn’t deterred, however, and continues to pump money into its resorts here.

Unfortunately, things haven’t gone quite as smoothly over the past three months for this company.

Las Vegas Sands Revenue Reports for Q3 Are Finally Out

LVS has officially come out with its earnings report. According to company officials, it saw $3.25 billion in revenue during quarter three. Operating income fell to $899 million for a decrease of 2.5% compared to quarter 3 of 2018. Net income fell by 6.6% to just $533 million.

When comparing these figures to the year’s second quarter, the results look abysmal. Of course, it’s important to note that Q2’s earnings were significantly boosted by the sale of Sands Bethlehem. This sale provided the company with $138 million.

Sands China’s revenue dropped by 2% to $2.08 billion. Most of the decline is attributed to the Sands Cotai Central, where revenue fell by 9.3%. This popular hotel-casino is currently being converted into The Londoner.

Sheldon Adelson, the founder of Las Vegas Sands, managed to make an appearance during the company’s revenue call. The casino mogul is unfortunately battling non-Hodgkin’s Lymphoma and barely spoke. He did claim to be happy about the company’s increased shareholder dividends.

The decline in Las Vegas Sands revenue earnings isn’t too concerning. This company remains one of the most powerful casino operators in the world.

LVS Continues to Push Into the Japanese Market

Last year, Japan officially approved plans to legalize casino gambling. Over the past year and a half, lawmakers here have worked on ways to get this new industry up and running. Soon, the government will begin offering licenses to different casino companies.

Only three of these casino licenses will be handed out. Las Vegas Sands is making it clear that they want to make it into this country. Not long ago, officials at LVS claimed that they want to open a casino-resort in either Osaka or Yokohama.

Las Vegas Sands revenue figures from Q3 aren’t having an impact on these plans. Most analysts believe that Japan will become one of the most lucrative casino markets in the world. If LVS is able to break into the Japanese market, it will likely experience massive revenue gains.

Of course, competition is high. Many of the biggest US casino companies are also attempting to obtain a Japanese casino license. We’ll need to wait and see which ones are chosen by Japan’s soon-to-be-established casino regulator.

Make sure to stay tuned for more Las Vegas casino news over the next few weeks!