The Sands Bethlehem casino in Pennsylvania bucked trend of the Las Vegas Sands’ other casinos by posting an impressive 20.5 percent rise in cash flow.
The Sands Bethlehem is the smallest casino in Las Vegas Sands’ portfolio of international properties, but it’s the only one that generated increased cash flow through the first three fiscal quarters of 2015, with $101.5 million in earnings before interest, taxes, depreciation, and amortization.
Las Vegas Sands officials cited the resort’s location near several large East Coast cities, such as Philadelphia and New York, and say it has helped to make Pennsylvania the nation’s second-largest gaming market, behind Nevada.
Internationally, Las Vegas Sands reported its Marina Bay Sands casino in Singapore generated the most money for the corporation, with $1.17 billion in gross revenues reported through the first three quarters of 2015.
Total revenues are down by about 13 percent at the Marina Bay Sands, but it’s not down nearly as much as the 37 percent drop reported at the Venetian Macau and 34 percent decrease at the Sands Cotai Central in Macau.
Las Vegas Sands officials cited decreased gaming from Chinese tourists, who are facing a Chinese government crackdown on citizens gambling, as a primary reason for decreased revenues at its Asian casinos, which generate the majority of Las Vegas Sands’ profits.
Las Vegas Sands officials remain hopeful that gambling among Chinese citizens will improve during 2016 and improve performance at its Macau operation, which is the most important for the company’s long-term profitability.
