Gambling in the USA
Las Vegas Sands Reports First Quarter 2020 Results
For the quarter ended March 31, 2020 (Compared to the quarter ended March 31, 2019)
– Greatest Priorities Remain the Safety and Security of Team Members and Guests and Support for Local Communities in Macao, Singapore and Las Vegas
– The Company will Continue Previously Announced Capital Expenditure Programs in both Macao and Singapore
– Strong Balance Sheet Positions the Company Well to Invest in Future Growth Opportunities
Las Vegas Sands Corp. (NYSE: LVS), the world’s leading developer and operator of convention-based Integrated Resorts, reported financial results for the quarter ended March 31, 2020.
“The impact of the Covid-19 pandemic on our business has been unprecedented, and I have never seen anything like it in my over seventy years in business,” said Sheldon G. Adelson, chairman and chief executive officer. “Our greatest priority during this difficult time remains our deep commitment to supporting our team members and to helping those in need in each of our local communities of Macao, Singapore and Las Vegas.
Despite these circumstances, our balance sheet strength will enable us to emerge from this pandemic with all our promising future growth opportunities fully intact. We remain extremely optimistic about an eventual recovery of travel and tourism spending across our markets, as well as our future growth prospects. We are fortunate that our financial strength will allow us to continue to execute our previously announced capital expenditure programs in both Macao and Singapore, while continuing to pursue growth opportunities in new markets.”
Net revenue was $1.78 billion, a decrease of 51.1% from the prior year quarter. Operating income decreased 94.3% to $55 million. Net loss in the first quarter of 2020 was $51 million compared to net income of $744 million in the first quarter of 2019. Consolidated adjusted property EBITDA was $437 million, a decrease of 69.9% from the prior year quarter.
The company paid a quarterly dividend of $0.79 per common share on March 26, 2020. The company has suspended its quarterly dividend program due to the impact of the novel coronavirus (“COVID-19”) pandemic.
Sands China Ltd. Consolidated Financial Results
On a GAAP basis, total net revenues for SCL decreased 65.1%, compared to the first quarter of 2019, to $814 million. Net loss for SCL was $166 million, compared to net income of $557 million in the first quarter of 2019.
Other Factors Affecting Earnings
Interest expense, net of amounts capitalized, was $131 million for the first quarter of 2020, compared to $141 million in the prior-year quarter. The decrease resulted from our weighted average borrowing cost in the first quarter of 2020 decreasing to 4.2%, compared to 4.6% during the first quarter of 2019.
Our income tax expense for the first quarter of 2020 was $25 million, compared to $85 million in the prior year quarter. The tax rate for the first quarter of 2020 was primarily driven by a 17% statutory tax rate on our Singapore operations.
Balance Sheet Items
Unrestricted cash balances as of March 31, 2020 were $2.60 billion.
The company has access to $3.93 billion available for borrowing under our U.S., SCL and Singapore revolving credit facilities, net of outstanding letters of credit.
As of March 31, 2020, total debt outstanding, excluding finance leases, was $12.30 billion.
Capital Expenditures
Capital expenditures during the first quarter totaled $320 million, including construction, development and maintenance activities of $241 million in Macao, $33 million in Las Vegas and $46 million at Marina Bay Sands.
Conference Call Information
The company will host a conference call to discuss the company’s results on Wednesday, April 22, 2020 at 1:30 p.m. Pacific Time. Interested parties may listen to the conference call through a webcast available on the company’s website at www.sands.com.
About Las Vegas Sands Corp. (NYSE: LVS)
Las Vegas Sands is the world’s pre-eminent developer and operator of world-class Integrated Resorts. We deliver unrivaled economic benefits to the communities in which we operate.
Sands created the meetings, incentives, convention and exhibition (MICE)-based Integrated Resort. Our industry-leading Integrated Resorts provide substantial contributions to our host communities including growth in leisure and business tourism, sustained job creation and ongoing financial opportunities for local small and medium-sized businesses.
Our properties include The Venetian Resort and Sands Expo in Las Vegas and the iconic Marina Bay Sands in Singapore. Through majority ownership in Sands China Ltd., we have developed the largest portfolio of properties on the Cotai Strip in Macao, including The Venetian Macao, The Plaza and Four Seasons Hotel Macao, Sands Cotai Central and The Parisian Macao, as well as the Sands Macao on the Macao Peninsula.
Sands is dedicated to being a good corporate citizen, anchored by the core tenets of serving people, planet and communities. We deliver a great working environment for our team members worldwide, drive social impact through the Sands Cares charitable giving and community engagement program and lead in environmental performance through the award-winning Sands ECO360 global sustainability program. To learn more, please visit www.sands.com.
SOURCE Las Vegas Sands Corp.
Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.
Latest News
Fennica Gaming has announced that it has been granted a gaming supplier license in Ontario, Canada. This milestone marks a significant step in the company’s expansion strategy, allowing it to offer its cutting-edge gaming experiences to gaming operators in one of North America’s most dynamic regulated markets. The supplier license, granted by the Alcohol and Gaming Commission of Ontario (AGCO), enables Fennica Gaming to introduce its portfolio of entertaining and high-quality games to gaming operators across the province. This registration empowers Ontarian operators, whether online or land-based, to access the omnichannel offerings developed in the Nordics.
PrizePicks announced it has received Internet Compliance Assessment Programme (iCAP) accreditation from the National Council on Problem Gambling (NCPG). PrizePicks is the first and only fantasy sports operator to receive the recognition. iCAP certification is granted to operators that meet the NCPG’s high standards for responsible gaming and consumer protection practices. Developed by the NCPG, iCAP is the leading online responsible gaming assessment Programme in the US. The rigorous certification process involves an independent, comprehensive review of an operator’s responsible gaming policies and practices, spanning Know Your Customer (KYC) protocols, staff training programmes, work culture, consumer protection measures, RG tool offerings, customer service standards and regulatory compliance.
The Public Health Advocacy Institute (PHAI) at Northeastern University School of Law supports Congressman Paul D. Tonko (NY-20) and Senator Richard Blumenthal (D-CT) as they reintroduced the SAFE Bet Act, which addresses the risks associated with legalised gambling. As of 2025, 39 states and the District of Columbia have legalised sports betting, but the necessary safeguards are not in place to address the public health risks that legalising sports betting creates. The SAFE Bet Act, first introduced in September 2024, addresses those public health concerns. The SAFE Bet Act establishes federal standards while preserving the opportunity for anyone who wishes to participate in legal sports betting. These standards will address advertising, affordability and artificial intelligence issues.
Partnerships
The NCAA and EPIC Global Solutions announced an extension of their gambling harm education programme collaboration. This extended collaboration reinforces the NCAA’s long-standing commitment to protecting student-athlete well-being and the integrity of college athletics. Educating student-athletes on the dangers of sports betting continues to be a key priority for the Association. EPIC’s sessions have been a crucial piece of this education since January 2022. The NCAA and EPIC Global Solutions have partnered to educate over 80,000 student-athletes through in-person, experiential sessions at more than 270 campuses nationwide across all three divisions, making it the largest programme of its kind globally.
SCCG Management has announced a strategic partnership with Boosted Bets. This collaboration will focus on business development, capital-raising support, and global distribution, connecting Boosted Bets with strategic partners across SCCG’s ecosystem, including sportsbook platforms, operators, data providers, CRM and gamification partners. Boosted Bets introduces a new way for sports bettors to prove their skills through a contest-based wagering model. Players enter a paid challenge, receiving a simulated betting account with a larger bankroll—giving them the ability to place bets as if they were high-stakes bettors.
The post Gaming Americas Weekly Roundup – March 10-16 appeared first on European Gaming Industry News.
PENN Entertainment announced that its stand-alone Hollywood Casino app has launched in New Jersey. The new Hollywood Casino platform is available on Android, iOS, and desktop and can also be accessed via the ESPN BET app. Customers can login to Hollywood Casino using their ESPN BET credentials, allowing for a seamless experience across PENN’s online betting and casino platforms.
Ranked by Eilers & Krejcik as the #2 overall iCasino product in the US, Hollywood Casino offers a variety of online slots, table games, and live dealer content, including original titles from PENN Game Studios, the company’s in-house casino game development studio. Hollywood Casino also includes bespoke live dealer tables and exclusive games such as the recently launched Devils Blackjack, an original title leveraging PENN’s partnership with the New Jersey Devils.
“We’re thrilled to introduce our dedicated, casino-first experience to customers across New Jersey. Hollywood Casino delivers a best-in-class experience with an extensive game library, seamless gameplay, and exclusive content from our in-house studio. This launch builds on the strong momentum we’ve gained since introducing our enhanced standalone app in December,” said Aaron LaBerge, Chief Technology Officer of PENN Entertainment.
The stand-alone Hollywood Casino platform debuted in Pennsylvania last December and is also available in Michigan.
The post PENN Entertainment Launches Stand-alone Hollywood Casino App in New Jersey appeared first on Gaming and Gambling Industry in the Americas.
Welcome to our weekly roundup of American gambling news again! Here, we are going through the weekly highlights of the American gambling industry which include the latest news and new partnerships. Read on and get updated.
Latest News
Jackpot Digital Inc., the world’s leading provider of innovative dealerless electronic poker gaming solutions, has announced that it has received license approval from the Maine Gambling Control Unit (MGCU). This milestone marks a significant achievement for the Company, as it is the first state-issued license it has received in the US. This state license allows the Company to install its casino machines throughout all of Maine. Jackpot Digital’s flagship product, the Jackpot Blitz ETG, offers a modern, dealerless, player-friendly poker solution that integrates traditional multiplayer poker games with cutting-edge digital technology. The MGCU license will enable the company to offer its innovative gaming solutions to operators throughout Maine, driving new revenue opportunities and enhancing player experiences.
The New York State Gaming Commission unanimously appointed Terryl Brown to the New York Gaming Facility Location Board, which is overseeing the commercial casino siting process in the New York Metro region. Terryl Brown currently serves as Vice President and General Counsel at Pace University. Prior to taking her position at Pace, Brown served as Deputy Commissioner of Legal Affairs and Administration for the New York City Fire Department, where she oversaw operations and legal matters for a department comprised of 17,000 employees. Brown has also been Chief Ethics Officer and Counsel with the New York State Attorney General’s Office, Acting Counsel to Governor David Paterson, First Assistant Counsel to Governor Eliot Spitzer, a Commissioner of the New York State Joint Commission on Public Ethics, Executive Vice President and General Counsel at the New York Power Authority, and a Partner at Harris Beach PLLC.
Partnerships
International Game Technology PLC has announced that IGT PlaySports is growing its sports betting presence in Nevada via a three-property, sports betting technology and services agreement with GN NV Holdings LLC, owner and operator of the Golden Nugget Casinos. Per the agreement and through a phased rollout, IGT PlaySports will power retail and mobile sports betting at Golden Nugget Casino Lake Tahoe first, followed by Golden Nugget Casino Las Vegas and Golden Nugget Casino Laughlin. Golden Nugget Casino Lake Tahoe was the first of the three casinos to convert to an IGT PlaySports-powered sportsbook after launching its retail sportsbooks in January 2025. Golden Nugget Casino Laughlin and Golden Nugget Casino Las Vegas are expected to launch their new sports betting programmes later this year, first with retail betting and then with a mobile betting option.
In Celebration of Hard Rock International’s annual “International Women’s Month” in March and International Women’s Day on Saturday, March 8, Hard Rock and global superstar & humanitarian, Shakira, announced a year-long partnership that aims to empower women around the world to tell their stories, be their authentic selves and unite through the power of music. The company is raising funds through its charitable arm, Hard Rock Heals Foundation, throughout International Women’s Month. A portion of proceeds will benefit Pies Descalzos Foundation—Shakira’s non-profit organisation enhancing the education and social development of girls in Colombia’s most vulnerable communities—as well as local women’s organisations within the communities of Hard Rock locations.
The post Gaming Americas Weekly Roundup – March 3-9 appeared first on European Gaming Industry News.
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