Las Vegas Sands third-quarter net jumps 79%

Sands China’s new revenue up more than 40%

By Anna Prior

Las Vegas Sands Corp.’s third-quarter earnings jumped 79% as the casino and resort operator recorded a surge in revenue, particular at its Macau operations.

Reuters

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Slot machines outside Macau.

The company, best known in the U.S. for its Italian-themed Venetian resort in Las Vegas, generates most of its revenue from profitable casinos in Macau and Singapore. The company last year gained a bigger foothold in Macau--the only place in China where gambling is legal--with the official launch of Sands Cotai Central, its fourth casino in the gambling enclave.

Las Vegas Sands /quotes/zigman/355622/quotes/nls/lvs LVS +0.25%   reported a profit of $626.7 million, or 76 cents a share, up from $349.8 million, or 42 cents a year earlier. Excluding pre-opening expense, development expense and other charges, adjusted per-share earnings rose to 82 cents from 46 cents.

Revenue rose 32% to $3.57 billion, including a 36% jump in casino revenue to $2.98 billion.