By Kelly Cloonan
Las Vegas Sands reported lower earnings and revenue in the first quarter, weighed down by slowing growth in its Macao segment.
The Paradise, Nev., company posted a profit of $352 million, or 49 cents a share, for the three months ended March 31, compared with $494 million, or 66 cents a share, a year earlier.
Adjusted earnings per share were 59 cents. Analysts polled by FactSet expected 57 a share.
Revenue fell to $2.86 billion, behind analyst forecasts of $2.88 billion, according to FactSet.
Declining revenue in Las Vegas Sands' Macao business offset slight growth in its Marina Bay Sands segment. Chief Executive Robert Goldstein said market growth has softened in Macao in the current environment.
Casino revenue fell to $2.13 billion from $2.23 billion while room revenue fell to $324 million from $330 million.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
April 23, 2025 17:44 ET (21:44 GMT)
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