Las Vegas Sands brings a touch of Venice to the US and China.
Replete with gondoliers and a replica of the Rialto Bridge, the
company's Venetian Las Vegas Hotel, Resort & Casino offers a
120,000-sq.-ft. casino and a 4,000-suite hotel, as well as a
shopping, dining, and entertainment complex. Through its
majority-owned Sands China subsidiary, the firm operates The
Venetian Macao on the Cotai Strip (the Chinese equivalent of the
Las Vegas Strip), as well as two other properties in Macao.
Properties also include the Marina Bay Sands in Singapore and the
partially-owned Sands Bethlehem in Bethlehem, Pennsylvania.
The company's collection of resorts in Asia and the US feature
state-of-the-art convention and exhibition facilities, premium
accommodations, world-class gaming and entertainment, destination
retail and dining including celebrity chef restaurants, and many
other amenities. More than 70% of Las Vegas Sands' revenue comes
from its casino operations.
Outside of Nevada, Las Vegas Sands operates in Macao,
Singapore, and Pennsylvania. Macao accounted for about 60% of the
company's total revenue in fiscal 2016.
Sales and Marketing
Las Vegas Sands advertises on television, internet, radio,
newspapers, magazines, and billboards. Its advertising costs were
$121 million in fiscal 2016. The Paiza Club located at the
company's properties is an important part of Las Vegas Sands' VIP
gaming marketing strategy.
Las Vegas Sands reported $11.4 billion in revenue for fiscal
2016, a slight decrease compared to the $11.6 billion the company
claimed in revenue for fiscal 2015. The drop in revenue was largely
attributed to the casino segment's revenue decrease of $312 million
in fiscal 2016 (compared to previous fiscal year). The decrease in
casino segment revenue was primarily caused by revenue decreases of
$522 million at Las Vegas Sands' Macao properties and $152 million
at Marina Bay Sands.
Las Vegas Sands' net income was $11.41 billion for fiscal 2016,
a decrease of $278 million compared to the $11.69 billion the
company claimed in revenue for the prior fiscal period. The
decrease in net income was driven by decreases of $168 million at
the company's Macao operations and $153 million at Marina Bay
Sands, primarily due to decreased casino revenues.
Las Vegas Sands ended fiscal 2016 with about $2.1 million in
cash. That was roughly the same amount of cash as it had at the end
of fiscal 2015. The company's capital expenditures totaled $1.4
billion during fiscal 2016, including $1.19 billion for
construction and development activities in Macao.
Las Vegas Sands is in the middle of a major international growth
initiative, with several projects in various stages of development.
Despite the ambitious expansion plans abroad, the company remains
somewhat cautious in Las Vegas. Las Vegas Sands will explore
opportunities to further expand its presence in Asia.
In May 2016 the company announced plans to work with the Madison
Square Garden Company to construct a 17,500-seat venue in Las Vegas
built specifically for music and entertainment.
All Las Vegas Sands properties are participating in
sustainability program aimed at reducing food waste.