LAS VEGAS SANDS CORP.
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|
(Exact name of registrant as specified in its charter)
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NEVADA
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(State or other jurisdiction of incorporation)
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001-32373
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27-0099920
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(Commission File Number)
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(IRS Employer Identification No.)
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3355 LAS VEGAS BOULEVARD SOUTH
LAS VEGAS, NEVADA
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89109
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(Address of principal executive offices)
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(Zip Code)
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(702) 414-1000
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(Registrant’s Telephone Number, Including Area Code)
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NOT APPLICABLE
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(Former Name or Former Address, if Changed Since Last Report)
|
o
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
o
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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o
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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o
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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ITEM 2.02
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RESULTS OF OPERATIONS AND FINANCIAL CONDITION.
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ITEM 9.01
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FINANCIAL STATEMENTS AND EXHIBITS.
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(d)
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Exhibits.
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99.1
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Press Release, dated January 29, 2014.
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LAS VEGAS SANDS CORP.
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||||
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By:
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/s/ Ira H. Raphaelson | ||
Name: |
Ira H. Raphaelson
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|||
Title: |
Executive Vice President and
Global General Counsel
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|||
Press Release
|
|
|
—
|
Consolidated Hold-Normalized Adjusted Property EBITDA Increased 25.8% to $1.37 Billion (Consolidated Adjusted Property EBITDA Increased 21.0% to $1.21 Billion)
|
|
—
|
Strong Gaming Volumes in Macao Drove Hold-Normalized Adjusted Property EBITDA Up 55.8% to a Record $887.6 Million
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|
—
|
Net Revenue Increased 18.8% to a Record $3.66 Billion
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|
—
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Hold-Normalized Adjusted Earnings per Diluted Share Increased 35.9% to $0.87 (GAAP Earnings per Diluted Share Increased 32.1% to $0.70)
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|
—
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The Company Paid Dividends of $0.35 per share and Repurchased $224.3 Million of Stock During the Quarter Under its $2.0 Billion Stock Repurchase Program
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|
—
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Net Revenue Increased 23.7% to a Record $13.77 Billion
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|
—
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Consolidated Adjusted Property EBITDA Increased 25.6% to a Record $4.76 Billion
|
|
—
|
Net Income Attributable to Las Vegas Sands Rose 51.3% to Reach $2.31 Billion or $2.79 per Diluted Share (Adjusted Earnings per Diluted Share was $2.90)
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|
—
|
The Company Paid Dividends of $1.40 per share and Repurchased $570.5 Million of Stock Under its $2.0 Billion Stock Repurchase Program
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Three Months Ended
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||||||||||||||||
The Venetian Macao Operations
|
December 31,
|
|||||||||||||||
(Dollars in millions)
|
2013
|
2012
|
$ Change
|
Change
|
||||||||||||
Revenues:
|
||||||||||||||||
Casino
|
$ | 1,011.3 | $ | 722.3 | $ | 289.0 |
40.0%
|
|||||||||
Rooms
|
67.0 | 59.9 | 7.1 |
11.9%
|
||||||||||||
Food and Beverage
|
25.6 | 23.4 | 2.2 |
9.4%
|
||||||||||||
Mall
|
56.7 | 46.5 | 10.2 |
21.9%
|
||||||||||||
Convention, Retail and Other
|
37.4 | 23.2 | 14.2 |
61.2%
|
||||||||||||
Less - Promotional Allowances
|
(48.9 | ) | (32.3 | ) | (16.6 | ) |
-51.4%
|
|||||||||
Net Revenues
|
$ | 1,149.1 | $ | 843.0 | $ | 306.1 |
36.3%
|
|||||||||
Adjusted Property EBITDA
|
$ | 433.4 | $ | 333.1 | $ | 100.3 | 30.1% | |||||||||
EBITDA Margin %
|
37.7% | 39.5% |
-1.8 pts
|
|||||||||||||
Operating Income
|
$ | 392.6 | $ | 298.2 | $ | 94.4 |
31.7%
|
|||||||||
Gaming Statistics
|
||||||||||||||||
(Dollars in millions)
|
||||||||||||||||
Rolling Chip Volume
|
$ | 16,759.2 | $ | 12,662.9 | $ | 4,096.3 |
32.3%
|
|||||||||
Rolling Chip Win %(1)
|
3.32%
|
3.25%
|
0.07 pts
|
|||||||||||||
Non-Rolling Chip Drop
|
$ | 2,268.2 | $ | 1,215.0 | $ | 1,053.2 |
86.7%
|
|||||||||
Non-Rolling Chip Win %
|
25.2%
|
29.9%
|
-4.7 pts
|
|||||||||||||
Slot Handle
|
$ | 1,296.3 | $ | 1,293.7 | $ | 2.6 |
0.2%
|
|||||||||
Slot Hold %
|
5.2%
|
5.5%
|
-0.3 pts
|
|||||||||||||
Hotel Statistics
|
||||||||||||||||
Occupancy %
|
94.4%
|
93.4%
|
1.0 pts
|
|||||||||||||
Average Daily Rate (ADR)
|
$ | 269 | $ | 248 | $ | 21 |
8.5%
|
|||||||||
Revenue per Available Room (RevPAR)
|
$ | 254 | $ | 231 | $ | 23 |
10.0%
|
Three Months Ended
|
||||||||||||||||
Sands Cotai Central Operations
|
December 31,
|
|||||||||||||||
(Dollars in millions)
|
2013
|
2012
|
$ Change
|
Change
|
||||||||||||
Revenues:
|
||||||||||||||||
Casino
|
$ | 707.7 | $ | 438.7 | $ | 269.0 |
61.3%
|
|||||||||
Rooms
|
76.7 | 44.5 | 32.2 |
72.4%
|
||||||||||||
Food and Beverage
|
29.3 | 19.2 | 10.1 |
52.6%
|
||||||||||||
Mall
|
14.1 | 9.2 | 4.9 |
53.3%
|
||||||||||||
Convention, Retail and Other
|
7.7 | 4.6 | 3.1 |
67.4%
|
||||||||||||
Less - Promotional Allowances
|
(44.8 | ) | (25.5 | ) | (19.3 | ) |
-75.7%
|
|||||||||
Net Revenues
|
$ | 790.7 | $ | 490.7 | $ | 300.0 |
61.1%
|
|||||||||
Adjusted Property EBITDA
|
$ | 237.8 | $ | 108.0 | $ | 129.8 | 120.2% | |||||||||
EBITDA Margin %
|
30.1% | 22.0% |
8.1 pts
|
|||||||||||||
Operating Income
|
$ | 168.5 | $ | 48.0 | $ | 120.5 |
251.0%
|
|||||||||
Gaming Statistics
|
||||||||||||||||
(Dollars in millions)
|
||||||||||||||||
Rolling Chip Volume
|
$ | 17,565.9 | $ | 10,170.3 | $ | 7,395.6 |
72.7%
|
|||||||||
Rolling Chip Win %(1)
|
2.52%
|
3.13%
|
-0.61 pts
|
|||||||||||||
Non-Rolling Chip Drop
|
$ | 1,680.7 | $ | 932.5 | $ | 748.2 |
80.2%
|
|||||||||
Non-Rolling Chip Win %
|
22.7%
|
20.6%
|
2.1 pts
|
|||||||||||||
Slot Handle
|
$ | 1,748.6 | $ | 1,241.7 | $ | 506.9 |
40.8%
|
|||||||||
Slot Hold %
|
3.8%
|
3.7%
|
0.1 pts
|
|||||||||||||
Hotel Statistics
|
||||||||||||||||
Occupancy %
|
89.1%
|
84.0%
|
5.1 pts
|
|||||||||||||
Average Daily Rate (ADR)
|
$ | 167 | $ | 164 | $ | 3 |
1.8%
|
|||||||||
Revenue per Available Room (RevPAR)
|
$ | 149 | $ | 138 | $ | 11 |
8.0%
|
Four Seasons Hotel Macao and Plaza Casino
|
Three Months Ended
|
|||||||||||||||
Operations
|
December 31,
|
|||||||||||||||
(Dollars in millions)
|
2013
|
2012
|
$ Change
|
Change
|
||||||||||||
Revenues:
|
||||||||||||||||
Casino
|
$ | 183.5 | $ | 260.2 | $ | (76.7 | ) |
-29.5%
|
||||||||
Rooms
|
12.7 | 10.8 | 1.9 |
17.6%
|
||||||||||||
Food and Beverage
|
9.6 | 7.5 | 2.1 |
28.0%
|
||||||||||||
Mall
|
45.2 | 28.6 | 16.6 |
58.0%
|
||||||||||||
Convention, Retail and Other
|
1.4 | 0.8 | 0.6 |
75.0%
|
||||||||||||
Less - Promotional Allowances
|
(14.3 | ) | (11.7 | ) | (2.6 | ) |
-22.2%
|
|||||||||
Net Revenues
|
$ | 238.1 | $ | 296.2 | $ | (58.1 | ) |
-19.6%
|
||||||||
Adjusted Property EBITDA
|
$ | 76.8 | $ | 89.7 | $ | (12.9 | ) | -14.4% | ||||||||
EBITDA Margin %
|
32.2% | 30.3% |
1.9 pts
|
|||||||||||||
Operating Income
|
$ | 52.1 | $ | 76.5 | $ | (24.4 | ) |
-31.9%
|
||||||||
Gaming Statistics
|
||||||||||||||||
(Dollars in millions)
|
||||||||||||||||
Rolling Chip Volume
|
$ | 9,404.3 | $ | 10,731.5 | $ | (1,327.2 | ) |
-12.4%
|
||||||||
Rolling Chip Win %(1)
|
1.77%
|
2.68%
|
-0.91 pts
|
|||||||||||||
Non-Rolling Chip Drop
|
$ | 330.8 | $ | 125.5 | $ | 205.3 |
163.6%
|
|||||||||
Non-Rolling Chip Win %
|
22.5%
|
45.1%
|
-22.6 pts
|
|||||||||||||
Slot Handle
|
$ | 271.1 | $ | 350.4 | $ | (79.3 | ) |
-22.6%
|
||||||||
Slot Hold %
|
5.3%
|
5.3%
|
0.0 pts
|
|||||||||||||
Hotel Statistics
|
||||||||||||||||
Occupancy %
|
90.8%
|
81.8%
|
9.0 pts
|
|||||||||||||
Average Daily Rate (ADR)
|
$ | 403 | $ | 382 | $ | 21 |
5.5%
|
|||||||||
Revenue per Available Room (RevPAR)
|
$ | 366 | $ | 313 | $ | 53 |
16.9%
|
Three Months Ended
|
||||||||||||||||
Sands Macao Operations
|
December 31,
|
|||||||||||||||
(Dollars in millions)
|
2013
|
2012
|
$ Change
|
Change
|
||||||||||||
Revenues:
|
||||||||||||||||
Casino
|
$ | 318.7 | $ | 305.8 | $ | 12.9 |
4.2%
|
|||||||||
Rooms
|
7.0 | 6.4 | 0.6 |
9.4%
|
||||||||||||
Food and Beverage
|
9.8 | 10.1 | (0.3 | ) |
-3.0%
|
|||||||||||
Convention, Retail and Other
|
2.7 | 2.7 | - |
0.0%
|
||||||||||||
Less - Promotional Allowances
|
(11.5 | ) | (10.4 | ) | (1.1 | ) |
-10.6%
|
|||||||||
Net Revenues
|
$ | 326.7 | $ | 314.6 | $ | 12.1 |
3.8%
|
|||||||||
Adjusted Property EBITDA
|
$ | 88.0 | $ | 91.5 | $ | (3.5 | ) | -3.8% | ||||||||
EBITDA Margin %
|
26.9% | 29.1% |
-2.2 pts
|
|||||||||||||
Operating Income
|
$ | 79.0 | $ | 83.1 | $ | (4.1 | ) |
-4.9%
|
||||||||
Gaming Statistics
|
||||||||||||||||
(Dollars in millions)
|
||||||||||||||||
Rolling Chip Volume
|
$ | 5,812.5 | $ | 5,767.8 | $ | 44.7 |
0.8%
|
|||||||||
Rolling Chip Win %(1)
|
2.77%
|
3.29%
|
-0.52 pts
|
|||||||||||||
Non-Rolling Chip Drop
|
$ | 1,025.4 | $ | 708.6 | $ | 316.8 |
44.7%
|
|||||||||
Non-Rolling Chip Win %
|
18.5%
|
22.2%
|
-3.7 pts
|
|||||||||||||
Slot Handle
|
$ | 695.3 | $ | 605.4 | $ | 89.9 |
14.8%
|
|||||||||
Slot Hold %
|
3.8%
|
4.3%
|
-0.5 pts
|
|||||||||||||
Hotel Statistics
|
||||||||||||||||
Occupancy %
|
97.4%
|
96.9%
|
0.5 pts
|
|||||||||||||
Average Daily Rate (ADR)
|
$ | 276 | $ | 250 | $ | 26 |
10.4%
|
|||||||||
Revenue per Available Room (RevPAR)
|
$ | 269 | $ | 243 | $ | 26 |
10.7%
|
Marina Bay Sands Operations
|
Three Months Ended
|
|||||||||||||||
December 31,
|
||||||||||||||||
(Dollars in millions)
|
2013
|
2012
|
$ Change
|
Change
|
||||||||||||
Revenues:
|
||||||||||||||||
Casino
|
$ | 504.6 | $ | 549.5 | $ | (44.9 | ) |
-8.2%
|
||||||||
Rooms
|
95.8 | 84.2 | 11.6 |
13.8%
|
||||||||||||
Food and Beverage
|
49.8 | 51.9 | (2.1 | ) |
-4.0%
|
|||||||||||
Mall
|
43.3 | 44.7 | (1.4 | ) |
-3.1%
|
|||||||||||
Convention, Retail and Other
|
26.6 | 29.0 | (2.4 | ) |
-8.3%
|
|||||||||||
Less - Promotional Allowances
|
(60.3 | ) | (42.1 | ) | (18.2 | ) |
-43.2%
|
|||||||||
Net Revenues
|
$ | 659.8 | $ | 717.2 | $ | (57.4 | ) | -8.0% | ||||||||
Adjusted Property EBITDA
|
$ | 258.8 | $ | 302.5 | $ | (43.7 | ) |
-14.4%
|
||||||||
EBITDA Margin %
|
39.2% | 42.2% |
-3.0 pts
|
|||||||||||||
Operating Income
|
$ | 165.7 | $ | 202.6 | $ | (36.9 | ) |
-18.2%
|
||||||||
Gaming Statistics
|
||||||||||||||||
(Dollars in millions)
|
||||||||||||||||
Rolling Chip Volume
|
$ | 13,731.0 | $ | 16,467.1 | $ | (2,736.1 | ) |
-16.6%
|
||||||||
Rolling Chip Win %(1)
|
1.92%
|
2.14%
|
-0.22 pts
|
|||||||||||||
Non-Rolling Chip Drop
|
$ | 1,135.5 | $ | 1,108.4 | $ | 27.1 |
2.4%
|
|||||||||
Non-Rolling Chip Win %
|
24.5%
|
24.2%
|
0.3 pts
|
|||||||||||||
Slot Handle
|
$ | 2,824.6 | $ | 2,690.9 | $ | 133.7 |
5.0%
|
|||||||||
Slot Hold %
|
5.2%
|
5.4%
|
-0.2 pts
|
|||||||||||||
Hotel Statistics
|
||||||||||||||||
Occupancy %
|
96.9%
|
98.4%
|
-1.5 pts
|
|||||||||||||
Average Daily Rate (ADR)
|
$ | 425 | $ | 368 | $ | 57 |
15.5%
|
|||||||||
Revenue per Available Room (RevPAR)
|
$ | 411 | $ | 362 | $ | 49 |
13.5%
|
Three Months Ended
|
||||||||||||||||
Las Vegas Operations
|
December 31,
|
|||||||||||||||
(Dollars in millions)
|
2013
|
2012
|
$ Change
|
Change
|
||||||||||||
Revenues:
|
||||||||||||||||
Casino
|
$ | 151.3 | $ | 87.9 | $ | 63.4 |
72.1%
|
|||||||||
Rooms
|
119.9 | 114.3 | 5.6 |
4.9%
|
||||||||||||
Food and Beverage
|
64.5 | 53.5 | 11.0 |
20.6%
|
||||||||||||
Convention, Retail and Other
|
76.1 | 74.5 | 1.6 |
2.1%
|
||||||||||||
Less - Promotional Allowances
|
(26.1 | ) | (21.9 | ) | (4.2 | ) |
-19.2%
|
|||||||||
Net Revenues
|
$ | 385.7 | $ | 308.3 | $ | 77.4 | 25.1 | % | ||||||||
Adjusted Property EBITDA
|
$ | 88.2 | $ | 52.8 | $ | 35.4 |
67.0%
|
|||||||||
EBITDA Margin %
|
22.9 | % | 17.1 | % |
5.8 pts
|
|||||||||||
Operating Income
|
$ | 67.3 | $ | 22.2 | $ | 45.1 |
203.2%
|
|||||||||
Gaming Statistics
|
||||||||||||||||
(Dollars in millions)
|
||||||||||||||||
Table Games Drop
|
$ | 649.7 | $ | 459.4 | $ | 190.3 |
41.4%
|
|||||||||
Table Games Win %(1)
|
21.8%
|
12.7%
|
9.1 pts
|
|||||||||||||
Slot Handle
|
$ | 542.2 | $ | 517.3 | $ | 24.9 |
4.8%
|
|||||||||
Slot Hold %
|
8.5%
|
8.9%
|
-0.4 pts
|
|||||||||||||
Hotel Statistics
|
||||||||||||||||
Occupancy %
|
88.8%
|
87.6%
|
1.2 pts
|
|||||||||||||
Average Daily Rate (ADR)
|
$ | 208 | $ | 203 | $ | 5 |
2.5%
|
|||||||||
Revenue per Available Room (RevPAR)
|
$ | 185 | $ | 177 | $ | 8 |
4.5%
|
Three Months Ended
|
||||||||||||||||
Sands Bethlehem Operations
|
December 31,
|
|||||||||||||||
(Dollars in millions)
|
2013
|
2012
|
$ Change
|
Change
|
||||||||||||
Revenues:
|
||||||||||||||||
Casino
|
$ | 115.2 | $ | 108.8 | $ | 6.4 |
5.9%
|
|||||||||
Rooms
|
3.0 | 3.0 | - |
0.0%
|
||||||||||||
Food and Beverage
|
7.3 | 7.1 | 0.2 |
2.8%
|
||||||||||||
Mall
|
0.9 | 0.4 | 0.5 |
125.0%
|
||||||||||||
Convention, Retail and Other
|
4.1 | 4.6 | (0.5 | ) |
-10.9%
|
|||||||||||
Less - Promotional Allowances
|
(6.4 | ) | (6.1 | ) | (0.3 | ) |
-4.9%
|
|||||||||
Net Revenues
|
$ | 124.1 | $ | 117.8 | $ | 6.3 |
5.3%
|
|||||||||
Adjusted Property EBITDA
|
$ | 30.3 | $ | 27.5 | $ | 2.8 |
10.2%
|
|||||||||
EBITDA Margin %
|
24.4%
|
23.4%
|
1.0 pts
|
|||||||||||||
Operating Income
|
$ | 19.4 | $ | 18.7 | $ | 0.7 |
3.7%
|
|||||||||
Gaming Statistics
|
||||||||||||||||
(Dollars in millions)
|
||||||||||||||||
Table Games Drop
|
$ | 258.9 | $ | 230.6 | $ | 28.3 |
12.3%
|
|||||||||
Table Games Win %(1)
|
17.5%
|
15.8%
|
1.7 pts
|
|||||||||||||
Slot Handle
|
$ | 995.0 | $ | 967.8 | $ | 27.2 |
2.8%
|
|||||||||
Slot Hold %
|
6.8%
|
7.2%
|
-0.4 pts
|
|||||||||||||
Hotel Statistics
|
||||||||||||||||
Occupancy %
|
74.4%
|
78.2%
|
-3.8 pts
|
|||||||||||||
Average Daily Rate (ADR)
|
$ | 145 | $ | 136 | $ | 9 |
6.6%
|
|||||||||
Revenue per Available Room (RevPAR)
|
$ | 108 | $ | 107 | $ | 1 |
0.9%
|
For The Three Months Ended December 31, 2013
|
TTM
December 31, 2013
|
|||||||||||||||||||||||
(Dollars in millions except per square foot data)
|
Gross Revenue(1)
|
Operating Profit
|
Operating Profit Margin
|
Gross Leasable Area
(sq. ft.)
|
Occupancy % at End of Period
|
Tenant Sales Per
Sq. Ft.(2)
|
||||||||||||||||||
Shoppes at Venetian
|
$ | 56.5 | $ | 49.6 | 87.8% | 755,452 | 95.5% | $ | 1,522 | |||||||||||||||
Shoppes at Four Seasons
|
||||||||||||||||||||||||
Luxury Retail
|
35.8 | 34.6 |
96.6%
|
142,233 |
100.0%
|
5,787 | ||||||||||||||||||
Other Stores
|
9.4 | 8.5 |
90.4%
|
99,662 |
70.2%
|
2,208 | ||||||||||||||||||
Total
|
45.2 | 43.1 |
95.4%
|
241,895 |
87.7%
|
4,726 | ||||||||||||||||||
Shoppes at Cotai Central
|
14.0 | 12.2 |
87.1%
|
210,143 | (3) |
100.0%
|
1,277 | |||||||||||||||||
Total Cotai Strip in Macao
|
115.7 | 104.9 |
90.7%
|
1,207,490 |
94.7%
|
2,111 | ||||||||||||||||||
The Shoppes at Marina Bay Sands
|
43.3 | 34.0 |
78.5%
|
642,241 |
90.7%(4)
|
1,528 | ||||||||||||||||||
Total
|
$ | 159.0 | $ | 138.9 |
87.4%
|
1,849,731 |
93.3%
|
$ | 1,934 |
Investment Community:
|
Daniel Briggs
|
(702) 414-1221
|
||
Media:
|
Ron Reese
|
(702) 414-3607
|
Within the company’s fourth quarter 2013 press release, the company makes reference to certain non-GAAP financial measures including “adjusted net income,” “hold-normalized adjusted net income,” “adjusted earnings per diluted share,” “hold-normalized adjusted earnings per diluted share,” “adjusted property EBITDA,” and “hold-normalized adjusted property EBITDA.” Whenever such information is presented, the company has complied with the provisions of the rules under Regulation G and Item 2.02 of Form 8-K. The specific reasons why the company’s management believes that the presentation of each of these non-GAAP financial measures provides useful information to investors regarding Las Vegas Sands Corp.’s financial condition, results of operations and cash flows has been provided in the Form 8-K filed in connection with this press release.
|
Three Months Ended
|
Year Ended
|
|||||||||||||||
December 31,
|
December 31,
|
|||||||||||||||
2013
|
2012
|
2013
|
2012
|
|||||||||||||
Revenues:
|
||||||||||||||||
Casino
|
$ | 2,992,196 | $ | 2,473,211 | $ | 11,386,917 | $ | 9,008,158 | ||||||||
Rooms
|
382,035 | 323,137 | 1,380,681 | 1,154,024 | ||||||||||||
Food and beverage
|
195,898 | 172,644 | 730,259 | 628,528 | ||||||||||||
Mall
|
159,878 | 128,537 | 481,400 | 396,927 | ||||||||||||
Convention, retail and other
|
142,809 | 133,352 | 515,179 | 497,032 | ||||||||||||
3,872,816 | 3,230,881 | 14,494,436 | 11,684,669 | |||||||||||||
Less - promotional allowances
|
(217,131 | ) | (153,879 | ) | (724,551 | ) | (553,537 | ) | ||||||||
3,655,685 | 3,077,002 | 13,769,885 | 11,131,132 | |||||||||||||
Operating expenses:
|
||||||||||||||||
Resort operations
|
2,449,920 | 2,081,896 | 9,083,983 | 7,370,842 | ||||||||||||
Corporate
|
48,314 | 44,866 | 189,535 | 207,030 | ||||||||||||
Pre-opening
|
3,693 | 8,992 | 13,339 | 143,795 | ||||||||||||
Development
|
969 | 7,762 | 15,809 | 19,958 | ||||||||||||
Depreciation and amortization
|
254,938 | 250,321 | 1,007,468 | 892,046 | ||||||||||||
Amortization of leasehold interests in land
|
10,055 | 10,149 | 40,352 | 40,165 | ||||||||||||
Impairment loss
|
- | - | - | 143,674 | ||||||||||||
Loss on disposal of assets
|
1,723 | 1,011 | 11,156 | 2,240 | ||||||||||||
2,769,612 | 2,404,997 | 10,361,642 | 8,819,750 | |||||||||||||
Operating income
|
886,073 | 672,005 | 3,408,243 | 2,311,382 | ||||||||||||
Other income (expense):
|
||||||||||||||||
Interest income
|
5,489 | 6,536 | 16,337 | 23,252 | ||||||||||||
Interest expense, net of amounts capitalized
|
(67,086 | ) | (67,067 | ) | (271,211 | ) | (258,564 | ) | ||||||||
Other income (expense)
|
(671 | ) | 5,025 | 4,321 | 5,740 | |||||||||||
Loss on modification or early retirement of debt
|
(14,178 | ) | - | (14,178 | ) | (19,234 | ) | |||||||||
Income before income taxes
|
809,627 | 616,499 | 3,143,512 | 2,062,576 | ||||||||||||
Income tax expense
|
(39,896 | ) | (45,156 | ) | (188,836 | ) | (180,763 | ) | ||||||||
Net income
|
769,731 | 571,343 | 2,954,676 | 1,881,813 | ||||||||||||
Net income attributable to noncontrolling interests
|
(192,192 | ) | (136,561 | ) | (648,679 | ) | (357,720 | ) | ||||||||
Net income attributable to Las Vegas Sands Corp.
|
$ | 577,539 | $ | 434,782 | $ | 2,305,997 | $ | 1,524,093 | ||||||||
Earnings per share:
|
||||||||||||||||
Basic
|
$ | 0.71 | $ | 0.53 | $ | 2.80 | $ | 1.89 | ||||||||
Diluted
|
$ | 0.70 | $ | 0.53 | $ | 2.79 | $ | 1.85 | ||||||||
Weighted average shares outstanding:
|
||||||||||||||||
Basic
|
818,631,514 | 822,214,678 | 822,282,515 | 806,395,660 | ||||||||||||
Diluted
|
822,314,351 | 826,662,036 | 826,316,108 | 824,556,036 | ||||||||||||
Dividends declared per common share
|
$ | 0.35 | $ | 3.00 | $ | 1.40 | $ | 3.75 |
Three Months Ended December 31, 2013
|
||||||||||||||||||||||||||||||||||||
Operating Income (Loss)
|
Depreciation and
Amortization
|
Amortization of Leasehold Interests
in Land
|
(Gain) Loss on Disposal of Assets
|
Pre-Opening
and
Development Expense
|
Royalty
Fees
|
(1)
Stock-Based Compensation
|
Corporate Expense
|
Adjusted Property EBITDA
|
||||||||||||||||||||||||||||
Macao:
|
||||||||||||||||||||||||||||||||||||
The Venetian Macao
|
$ | 392,586 | $ | 35,189 | $ | 1,654 | $ | 1,996 | $ | - | $ | - | $ | 1,969 | $ | - | $ | 433,394 | ||||||||||||||||||
Sands Cotai Central
|
168,464 | 65,378 | 2,154 | 728 | 230 | - | 829 | - | 237,783 | |||||||||||||||||||||||||||
Four Seasons Hotel Macao
and Plaza Casino |
52,130 | 9,835 | 706 | 11,630 | 2,398 | - | 58 | - | 76,757 | |||||||||||||||||||||||||||
Sands Macao
|
79,010 | 7,984 | 354 | 61 | - | - | 562 | - | 87,971 | |||||||||||||||||||||||||||
Macao Property Operations
|
692,190 | 118,386 | 4,868 | 14,415 | 2,628 | - | 3,418 | - | 835,905 | |||||||||||||||||||||||||||
Marina Bay Sands
|
165,669 | 63,862 | 4,566 | (82 | ) | - | 22,784 | 2,035 | - | 258,834 | ||||||||||||||||||||||||||
United States:
|
||||||||||||||||||||||||||||||||||||
Las Vegas Operating Properties
|
67,340 | 50,595 | - | 717 | 524 | (33,556 | ) | 2,587 | - | 88,207 | ||||||||||||||||||||||||||
Sands Bethlehem
|
19,365 | 10,637 | - | 55 | 152 | - | 140 | - | 30,349 | |||||||||||||||||||||||||||
United States Property Operations
|
86,705 | 61,232 | - | 772 | 676 | (33,556 | ) | 2,727 | - | 118,556 | ||||||||||||||||||||||||||
Other Asia (2)
|
(13,973 | ) | 3,630 | - | (3 | ) | (4 | ) | 11,000 | 42 | - | 692 | ||||||||||||||||||||||||
Other Development
|
(2,412 | ) | 167 | 621 | 262 | 1,362 | - | - | - | - | ||||||||||||||||||||||||||
Corporate
|
(42,106 | ) | 7,661 | - | (13,641 | ) | - | (228 | ) | - | 48,314 | - | ||||||||||||||||||||||||
$ | 886,073 | $ | 254,938 | $ | 10,055 | $ | 1,723 | $ | 4,662 | $ | - | $ | 8,222 | $ | 48,314 | $ | 1,213,987 |
Three Months Ended December 31, 2012
|
||||||||||||||||||||||||||||||||||||
Operating
Income (Loss)
|
Depreciation
and
Amortization
|
Amortization
of Leasehold
Interests
in Land
|
(Gain) Loss on Disposal
of Assets
|
Pre-Opening
and
Development
Expense
|
Royalty
Fees
|
(1)
Stock-Based
Compensation
|
Corporate
Expense
|
Adjusted
Property
EBITDA
|
||||||||||||||||||||||||||||
Macao:
|
||||||||||||||||||||||||||||||||||||
The Venetian Macao
|
$ | 298,218 | $ | 32,133 | $ | 1,655 | $ | (413 | ) | $ | 22 | $ | - | $ | 1,455 | $ | - | $ | 333,070 | |||||||||||||||||
Sands Cotai Central
|
48,040 | 51,235 | 2,154 | 177 | 5,834 | - | 544 | - | 107,984 | |||||||||||||||||||||||||||
Four Seasons Hotel Macao
and Plaza Casino |
76,451 | 11,385 | 705 | 6 | 1,119 | - | 12 | - | 89,678 | |||||||||||||||||||||||||||
Sands Macao
|
83,060 | 7,606 | 354 | 198 | - | - | 292 | - | 91,510 | |||||||||||||||||||||||||||
Macao Property Operations
|
505,769 | 102,359 | 4,868 | (32 | ) | 6,975 | - | 2,303 | - | 622,242 | ||||||||||||||||||||||||||
Marina Bay Sands
|
202,631 | 72,261 | 4,659 | 1,156 | - | 19,081 | 2,745 | - | 302,533 | |||||||||||||||||||||||||||
United States:
|
||||||||||||||||||||||||||||||||||||
Las Vegas Operating Properties
|
22,170 | 58,051 | - | (115 | ) | 1,909 | (31,744 | ) | 2,549 | - | 52,820 | |||||||||||||||||||||||||
Sands Bethlehem
|
18,685 | 8,578 | - | - | 40 | - | 215 | - | 27,518 | |||||||||||||||||||||||||||
United States Property Operations
|
40,855 | 66,629 | - | (115 | ) | 1,949 | (31,744 | ) | 2,764 | - | 80,338 | |||||||||||||||||||||||||
Other Asia (2)
|
(19,774 | ) | 3,688 | - | 2 | 35 | 13,854 | 46 | - | (2,149 | ) | |||||||||||||||||||||||||
Other Development
|
(8,571 | ) | 154 | 622 | - | 7,795 | - | - | - | - | ||||||||||||||||||||||||||
Corporate
|
(48,905 | ) | 5,230 | - | - | - | (1,191 | ) | - | 44,866 | - | |||||||||||||||||||||||||
$ | 672,005 | $ | 250,321 | $ | 10,149 | $ | 1,011 | $ | 16,754 | $ | - | $ | 7,858 | $ | 44,866 | $ | 1,002,964 |
Year Ended December 31, 2013
|
||||||||||||||||||||||||||||||||||||
Operating
Income (Loss)
|
Depreciation
and
Amortization
|
Amortization
of Leasehold
Interests
in Land
|
(Gain) Loss on Disposal
of Assets
|
Pre-Opening
and
Development
Expense
|
Royalty
Fees
|
(1)
Stock-Based
Compensation
|
Legal
Settlement
and Corporate
Expense
|
Adjusted
Property
EBITDA
|
||||||||||||||||||||||||||||
Macao:
|
||||||||||||||||||||||||||||||||||||
The Venetian Macao
|
$ | 1,344,650 | $ | 137,464 | $ | 6,613 | $ | 3,708 | $ | 120 | $ | - | $ | 7,382 | $ | - | $ | 1,499,937 | ||||||||||||||||||
Sands Cotai Central
|
462,128 | 257,087 | 8,612 | 2,971 | 5,793 | - | 3,132 | - | 739,723 | |||||||||||||||||||||||||||
Four Seasons Hotel Macao
and Plaza Casino |
240,986 | 44,199 | 2,823 | 11,726 | 5,124 | - | 182 | - | 305,040 | |||||||||||||||||||||||||||
Sands Macao
|
327,087 | 31,710 | 1,415 | 574 | - | - | 2,072 | - | 362,858 | |||||||||||||||||||||||||||
Macao Property Operations
|
2,374,851 | 470,460 | 19,463 | 18,979 | 11,037 | - | 12,768 | - | 2,907,558 | |||||||||||||||||||||||||||
Marina Bay Sands
|
995,504 | 262,676 | 18,403 | 2,631 | - | 97,989 | 7,373 | - | 1,384,576 | |||||||||||||||||||||||||||
United States:
|
||||||||||||||||||||||||||||||||||||
Las Vegas Operating Properties
|
240,528 | 192,863 | - | 1,825 | 911 | (141,009 | ) | 9,221 | 47,400 | 351,739 | ||||||||||||||||||||||||||
Sands Bethlehem
|
85,096 | 37,282 | - | 89 | 391 | - | 479 | - | 123,337 | |||||||||||||||||||||||||||
United States Property Operations
|
325,624 | 230,145 | - | 1,914 | 1,302 | (141,009 | ) | 9,700 | 47,400 | 475,076 | ||||||||||||||||||||||||||
Other Asia (2)
|
(63,000 | ) | 14,665 | - | 10 | 258 | 44,000 | 212 | - | (3,855 | ) | |||||||||||||||||||||||||
Other Development
|
(19,939 | ) | 640 | 2,486 | 262 | 16,551 | - | - | - | - | ||||||||||||||||||||||||||
Corporate
|
(204,797 | ) | 28,882 | - | (12,640 | ) | - | (980 | ) | - | 189,535 | - | ||||||||||||||||||||||||
$ | 3,408,243 | $ | 1,007,468 | $ | 40,352 | $ | 11,156 | $ | 29,148 | $ | - | $ | 30,053 | $ | 236,935 | $ | 4,763,355 |
Year Ended December 31, 2012
|
||||||||||||||||||||||||||||||||||||
Operating
Income (Loss)
|
Depreciation
and
Amortization
|
Amortization
of Leasehold
Interests
in Land
|
Impairment
and (Gain) Loss on Disposal
of Assets
|
Pre-Opening
and
Development
Expense
|
Royalty
Fees
|
(1)
Stock-Based
Compensation
|
Corporate
Expense
|
Adjusted
Property
EBITDA
|
||||||||||||||||||||||||||||
Macao:
|
||||||||||||||||||||||||||||||||||||
The Venetian Macao
|
$ | 947,998 | $ | 140,218 | $ | 6,609 | $ | 42,236 | $ | 135 | $ | - | $ | 6,049 | $ | - | $ | 1,143,245 | ||||||||||||||||||
Sands Cotai Central
|
10,291 | 108,878 | 6,458 | 239 | 86,463 | - | 1,147 | - | 213,476 | |||||||||||||||||||||||||||
Four Seasons Hotel Macao
and Plaza Casino |
232,130 | 48,737 | 2,821 | 215 | 4,072 | - | 195 | - | 288,170 | |||||||||||||||||||||||||||
Sands Macao
|
317,319 | 30,385 | 1,414 | 14 | - | - | 1,507 | - | 350,639 | |||||||||||||||||||||||||||
Macao Property Operations
|
1,507,738 | 328,218 | 17,302 | 42,704 | 90,670 | - | 8,898 | - | 1,995,530 | |||||||||||||||||||||||||||
Marina Bay Sands
|
977,572 | 268,929 | 18,229 | 1,340 | - | 91,681 | 8,494 | - | 1,366,245 | |||||||||||||||||||||||||||
United States:
|
||||||||||||||||||||||||||||||||||||
Las Vegas Operating Properties
|
222,167 | 225,562 | - | 388 | 1,909 | (130,764 | ) | 11,920 | - | 331,182 | ||||||||||||||||||||||||||
Sands Bethlehem
|
78,554 | 33,910 | - | 414 | 345 | - | 832 | - | 114,055 | |||||||||||||||||||||||||||
United States Property Operations
|
300,721 | 259,472 | - | 802 | 2,254 | (130,764 | ) | 12,752 | - | 445,237 | ||||||||||||||||||||||||||
Other Asia (2)
|
(71,590 | ) | 14,777 | - | 35 | 200 | 40,000 | 628 | - | (15,950 | ) | |||||||||||||||||||||||||
Other Development
|
(177,026 | ) | 729 | 4,634 | 101,034 | 70,629 | - | - | - | - | ||||||||||||||||||||||||||
Corporate
|
(226,033 | ) | 19,921 | - | (1 | ) | - | (917 | ) | - | 207,030 | - | ||||||||||||||||||||||||
$ | 2,311,382 | $ | 892,046 | $ | 40,165 | $ | 145,914 | $ | 163,753 | $ | - | $ | 30,772 | $ | 207,030 | $ | 3,791,062 |
Three Months Ended December 31, 2013
|
||||||||||||||||
Adjusted
Property
EBITDA
|
(1)
Hold-Normalized
Casino
Revenue
|
(2)
Hold-Normalized
Casino
Expense
|
Hold-Normalized
Adjusted
Property
EBITDA
|
|||||||||||||
Macao Property Operations
|
$ | 835,905 | $ | 84,727 | $ | (33,043 | ) | $ | 887,589 | |||||||
Marina Bay Sands
|
258,834 | 127,610 | (14,305 | ) | 372,139 | |||||||||||
United States:
|
||||||||||||||||
Las Vegas Operating Properties
|
88,207 | (5,257 | ) | 394 | 83,344 | |||||||||||
Sands Bethlehem
|
30,349 | (6,968 | ) | 1,080 | 24,461 | |||||||||||
United States Property Operations
|
118,556 | (12,225 | ) | 1,474 | 107,805 | |||||||||||
Other Asia
|
692 | - | - | 692 | ||||||||||||
Other Development
|
- | - | - | - | ||||||||||||
Corporate
|
- | - | - | - | ||||||||||||
$ | 1,213,987 | $ | 200,112 | $ | (45,874 | ) | $ | 1,368,225 |
Three Months Ended December 31, 2012
|
||||||||||||||||
Adjusted
Property
EBITDA
|
(1)
Hold-Normalized
Casino
Revenue
|
(2)
Hold-Normalized
Casino
Expense
|
Hold-Normalized
Adjusted
Property
EBITDA
|
|||||||||||||
Macao Property Operations
|
$ | 622,242 | $ | (85,911 | ) | $ | 33,505 | $ | 569,836 | |||||||
Marina Bay Sands
|
302,533 | 117,003 | (13,116 | ) | 406,420 | |||||||||||
United States:
|
||||||||||||||||
Las Vegas Operating Properties
|
52,820 | 37,976 | (2,848 | ) | 87,948 | |||||||||||
Sands Bethlehem
|
27,518 | (2,292 | ) | 355 | 25,581 | |||||||||||
United States Property Operations
|
80,338 | 35,684 | (2,493 | ) | 113,529 | |||||||||||
Other Asia
|
(2,149 | ) | - | - | (2,149 | ) | ||||||||||
Other Development
|
- | - | - | - | ||||||||||||
Corporate
|
- | - | - | - | ||||||||||||
$ | 1,002,964 | $ | 66,776 | $ | 17,896 | $ | 1,087,636 |
Three Months Ended
|
Year Ended
|
|||||||||||||||
December 31,
|
December 31,
|
|||||||||||||||
2013
|
2012
|
2013
|
2012
|
|||||||||||||
Net income attributable to Las Vegas Sands Corp.
|
$ | 577,539 | $ | 434,782 | $ | 2,305,997 | $ | 1,524,093 | ||||||||
Add (deduct):
|
||||||||||||||||
Net income attributable to noncontrolling interests
|
192,192 | 136,561 | 648,679 | 357,720 | ||||||||||||
Income tax expense
|
39,896 | 45,156 | 188,836 | 180,763 | ||||||||||||
Loss on modification or early retirement of debt
|
14,178 | - | 14,178 | 19,234 | ||||||||||||
Other (income) expense
|
671 | (5,025 | ) | (4,321 | ) | (5,740 | ) | |||||||||
Interest expense, net of amounts capitalized
|
67,086 | 67,067 | 271,211 | 258,564 | ||||||||||||
Interest income
|
(5,489 | ) | (6,536 | ) | (16,337 | ) | (23,252 | ) | ||||||||
Loss on disposal of assets
|
1,723 | 1,011 | 11,156 | 2,240 | ||||||||||||
Impairment loss
|
- | - | - | 143,674 | ||||||||||||
Amortization of leasehold interests in land
|
10,055 | 10,149 | 40,352 | 40,165 | ||||||||||||
Depreciation and amortization
|
254,938 | 250,321 | 1,007,468 | 892,046 | ||||||||||||
Development expense
|
969 | 7,762 | 15,809 | 19,958 | ||||||||||||
Pre-opening expense
|
3,693 | 8,992 | 13,339 | 143,795 | ||||||||||||
Stock-based compensation (1)
|
8,222 | 7,858 | 30,053 | 30,772 | ||||||||||||
Legal settlement expense (1)
|
- | - | 47,400 | - | ||||||||||||
Corporate expense
|
48,314 | 44,866 | 189,535 | 207,030 | ||||||||||||
Adjusted Property EBITDA
|
$ | 1,213,987 | $ | 1,002,964 | $ | 4,763,355 | $ | 3,791,062 | ||||||||
Hold-normalized casino revenue (2)
|
200,112 | 66,776 | ||||||||||||||
Hold-normalized casino expense (2)
|
(45,874 | ) | 17,896 | |||||||||||||
Hold-Normalized Adjusted Property EBITDA
|
$ | 1,368,225 | $ | 1,087,636 |
(1) See Exhibit 2
|
||||
(2) See Exhibit 3
|
||||
_______________________
|
||||
Las Vegas Sands Corp. and Subsidiaries
|
||||
Supplemental Data - Net Revenues
|
||||
(In thousands)
|
||||
(Unaudited)
|
||||
Three Months Ended
|
Year Ended
|
|||||||||||||||
|
December 31,
|
December 31,
|
||||||||||||||
2013
|
2012
|
2013
|
2012
|
|||||||||||||
The Venetian Macao
|
$ | 1,149,079 | $ | 843,000 | $ | 3,851,230 | $ | 3,037,975 | ||||||||
Sands Cotai Central
|
790,650 | 490,668 | 2,698,430 | 1,052,124 | ||||||||||||
Four Seasons Hotel Macao and Plaza Casino
|
238,069 | 296,237 | 1,065,405 | 1,086,456 | ||||||||||||
Sands Macao
|
326,747 | 314,586 | 1,237,016 | 1,250,552 | ||||||||||||
Marina Bay Sands
|
659,813 | 717,160 | 2,968,366 | 2,886,139 | ||||||||||||
Las Vegas Operating Properties
|
385,712 | 308,287 | 1,518,024 | 1,384,629 | ||||||||||||
Sands Bethlehem
|
124,141 | 117,834 | 496,738 | 470,458 | ||||||||||||
Other Asia
|
33,906 | 37,538 | 139,572 | 148,330 | ||||||||||||
Intersegment Eliminations
|
(52,432 | ) | (48,308 | ) | (204,896 | ) | (185,531 | ) | ||||||||
$ | 3,655,685 | $ | 3,077,002 | $ | 13,769,885 | $ | 11,131,132 |
_______________________
|
|||||
Las Vegas Sands Corp. and Subsidiaries
|
|||||
Supplemental Data - Adjusted Property EBITDA as a Percentage of Net Revenues
|
|||||
(Unaudited)
|
|||||
Three Months Ended
|
Year Ended
|
|||||||||||||||
December 31,
|
December 31,
|
|||||||||||||||
2013
|
2012
|
2013
|
2012
|
|||||||||||||
The Venetian Macao
|
37.7 | % | 39.5 | % | 38.9 | % | 37.6 | % | ||||||||
Sands Cotai Central
|
30.1 | % | 22.0 | % | 27.4 | % | 20.3 | % | ||||||||
Four Seasons Hotel Macao and Plaza Casino
|
32.2 | % | 30.3 | % | 28.6 | % | 26.5 | % | ||||||||
Sands Macao
|
26.9 | % | 29.1 | % | 29.3 | % | 28.0 | % | ||||||||
Marina Bay Sands
|
39.2 | % | 42.2 | % | 46.6 | % | 47.3 | % | ||||||||
Las Vegas Operating Properties
|
22.9 | % | 17.1 | % | 23.2 | % | 23.9 | % | ||||||||
Sands Bethlehem
|
24.4 | % | 23.4 | % | 24.8 | % | 24.2 | % | ||||||||
Other Asia
|
2.0 | % | -5.7 | % | -2.8 | % | -10.8 | % | ||||||||
Total
|
33.2 | % | 32.6 | % | 34.6 | % | 34.1 | % |
Las Vegas Sands Corp. and Subsidiaries
|
|||||
Non-GAAP Measure - Adjusted Net Income; Hold-Normalized Adjusted Net Income; Adjusted Earnings Per
Diluted Share; and Hold-Normalized Adjusted Earnings Per Diluted Share
|
|||||
(In thousands, except share and per share data)
|
|||||
(Unaudited)
|
Three Months Ended
|
Year Ended
|
|||||||||||||||
December 31,
|
December 31,
|
|||||||||||||||
2013
|
2012
|
2013
|
2012
|
|||||||||||||
Net income attributable to Las Vegas Sands Corp.
|
$ | 577,539 | $ | 434,782 | $ | 2,305,997 | $ | 1,524,093 | ||||||||
Pre-opening expense, net
|
2,791 | 6,908 | 9,818 | 101,775 | ||||||||||||
Development expense, net
|
969 | 7,762 | 15,809 | 19,958 | ||||||||||||
Impairment loss, net
|
- | - | - | 101,009 | ||||||||||||
Loss on disposal of assets, net
|
(2,571 | ) | 1,021 | 5,498 | 2,211 | |||||||||||
Loss on modification or early retirement of debt, net
|
14,178 | - | 14,178 | 18,714 | ||||||||||||
Legal settlement expense
|
- | - | 47,400 | - | ||||||||||||
Adjusted net income
|
$ | 592,906 | $ | 450,473 | $ | 2,398,700 | $ | 1,767,760 | ||||||||
Hold-normalized casino revenue (1)
|
200,112 | 66,776 | ||||||||||||||
Hold-normalized casino expense (1)
|
(45,874 | ) | 17,896 | |||||||||||||
Income tax impact on hold adjustments
|
(19,262 | ) | (17,661 | ) | ||||||||||||
Noncontrolling interest impact on hold adjustments
|
(15,418 | ) | 15,598 | |||||||||||||
Hold-normalized adjusted net income
|
$ | 712,464 | $ | 533,082 | ||||||||||||
(1) See Exhibit 3
|
Per diluted share of common stock:
|
||||||||||||||||
Net income attributable to Las Vegas Sands Corp.
|
$ | 0.70 | $ | 0.53 | $ | 2.79 | $ | 1.85 | ||||||||
Pre-opening expense, net
|
- | - | - | 0.12 | ||||||||||||
Development expense, net
|
- | 0.01 | 0.02 | 0.03 | ||||||||||||
Impairment loss, net
|
- | - | - | 0.12 | ||||||||||||
Loss on disposal of assets, net
|
- | - | 0.01 | - | ||||||||||||
Loss on modification or early retirement of debt, net
|
0.02 | - | 0.02 | 0.02 | ||||||||||||
Legal settlement expense
|
- | - | 0.06 | - | ||||||||||||
Adjusted earnings per diluted share
|
$ | 0.72 | $ | 0.54 | $ | 2.90 | $ | 2.14 | ||||||||
Hold-normalized casino revenue
|
0.24 | 0.08 | ||||||||||||||
Hold-normalized casino expense
|
(0.05 | ) | 0.02 | |||||||||||||
Income tax impact on hold adjustments
|
(0.02 | ) | (0.02 | ) | ||||||||||||
Noncontrolling interest impact on hold adjustments
|
(0.02 | ) | 0.02 | |||||||||||||
Hold-normalized adjusted earnings per diluted share
|
$ | 0.87 | $ | 0.64 | ||||||||||||
Weighted average diluted shares outstanding
|
822,314,351 | 826,662,036 | 826,316,108 | 824,556,036 |
Las Vegas Sands Corp. and Subsidiaries
|
|||
Supplemental Data Schedule
|
|||
(Unaudited)
|
Three Months Ended
|
Year Ended
|
|||||||||||||||
December 31,
|
December 31,
|
|||||||||||||||
2013
|
2012
|
2013
|
2012
|
|||||||||||||
Room Statistics:
|
||||||||||||||||
The Venetian Macao:
|
||||||||||||||||
Occupancy %
|
94.4% | 93.4% | 91.3% | 91.9% | ||||||||||||
Average daily room rate (ADR) (1)
|
$ | 269 | $ | 248 | $ | 243 | $ | 237 | ||||||||
Revenue per available room (RevPAR) (2)
|
$ | 254 | $ | 231 | $ | 222 | $ | 218 | ||||||||
Sands Cotai Central:
|
||||||||||||||||
Occupancy %
|
89.1% | 84.0% | 78.5% | 83.4% | ||||||||||||
Average daily room rate (ADR) (1)
|
$ | 167 | $ | 164 | $ | 155 | $ | 155 | ||||||||
Revenue per available room (RevPAR) (2)
|
$ | 149 | $ | 138 | $ | 121 | $ | 129 | ||||||||
Four Seasons Hotel Macao and Plaza Casino:
|
||||||||||||||||
Occupancy %
|
90.8% | 81.8% | 85.3% | 80.1% | ||||||||||||
Average daily room rate (ADR) (1)
|
$ | 403 | $ | 382 | $ | 373 | $ | 362 | ||||||||
Revenue per available room (RevPAR) (2)
|
$ | 366 | $ | 313 | $ | 318 | $ | 290 | ||||||||
Sands Macao:
|
||||||||||||||||
Occupancy %
|
97.4% | 96.9% | 96.1% | 95.3% | ||||||||||||
Average daily room rate (ADR) (1)
|
$ | 276 | $ | 250 | $ | 252 | $ | 245 | ||||||||
Revenue per available room (RevPAR) (2)
|
$ | 269 | $ | 243 | $ | 242 | $ | 234 | ||||||||
Marina Bay Sands:
|
||||||||||||||||
Occupancy %
|
96.9% | 98.4% | 98.6% | 98.9% | ||||||||||||
Average daily room rate (ADR) (1)
|
$ | 425 | $ | 368 | $ | 396 | $ | 355 | ||||||||
Revenue per available room (RevPAR) (2)
|
$ | 411 | $ | 362 | $ | 390 | $ | 351 | ||||||||
Las Vegas Operating Properties:
|
||||||||||||||||
Occupancy %
|
88.8% | 87.6% | 89.6% | 86.1% | ||||||||||||
Average daily room rate (ADR) (1)
|
$ | 208 | $ | 203 | $ | 205 | $ | 203 | ||||||||
Revenue per available room (RevPAR) (2)
|
$ | 185 | $ | 177 | $ | 184 | $ | 175 | ||||||||
Sands Bethlehem:
|
||||||||||||||||
Occupancy %
|
74.4% | 78.2% | 73.6% | 65.1% | ||||||||||||
Average daily room rate (ADR) (1)
|
$ | 145 | $ | 136 | $ | 142 | $ | 140 | ||||||||
Revenue per available room (RevPAR) (2)
|
$ | 108 | $ | 107 | $ | 104 | $ | 91 | ||||||||
Casino Statistics:
|
||||||||||||||||
The Venetian Macao:
|
||||||||||||||||
Table games win per unit per day (3)
|
$ | 19,200 | $ | 18,424 | $ | 17,518 | $ | 15,496 | ||||||||
Slot machine win per unit per day (4)
|
$ | 344 | $ | 357 | $ | 327 | $ | 325 | ||||||||
Average number of table games
|
639 | 457 | 584 | 504 | ||||||||||||
Average number of slot machines
|
2,119 | 2,183 | 2,193 | 2,210 | ||||||||||||
Sands Cotai Central:
|
||||||||||||||||
Table games win per unit per day (3)
|
$ | 19,621 | $ | 11,995 | $ | 16,166 | $ | 10,758 | ||||||||
Slot machine win per unit per day (4)
|
$ | 367 | $ | 214 | $ | 292 | $ | 273 | ||||||||
Average number of table games
|
457 | 462 | 480 | 395 | ||||||||||||
Average number of slot machines
|
1,957 | 2,310 | 2,077 | 1,429 | ||||||||||||
Four Seasons Hotel Macao and Plaza Casino:
|
||||||||||||||||
Table games win per unit per day (3)
|
$ | 17,655 | $ | 25,986 | $ | 22,049 | $ | 23,693 | ||||||||
Slot machine win per unit per day (4)
|
$ | 887 | $ | 1,052 | $ | 759 | $ | 749 | ||||||||
Average number of table games
|
148 | 144 | 151 | 154 | ||||||||||||
Average number of slot machines
|
178 | 192 | 180 | 185 | ||||||||||||
Sands Macao:
|
||||||||||||||||
Table games win per unit per day (3)
|
$ | 13,356 | $ | 14,362 | $ | 12,383 | $ | 11,518 | ||||||||
Slot machine win per unit per day (4)
|
$ | 260 | $ | 235 | $ | 247 | $ | 247 | ||||||||
Average number of table games
|
286 | 263 | 295 | 330 | ||||||||||||
Average number of slot machines
|
1,094 | 1,216 | 1,162 | 1,168 | ||||||||||||
Marina Bay Sands:
|
||||||||||||||||
Table games win per unit per day (3)
|
$ | 9,098 | $ | 10,950 | $ | 11,289 | $ | 10,543 | ||||||||
Slot machine win per unit per day (4)
|
$ | 679 | $ | 682 | $ | 688 | $ | 644 | ||||||||
Average number of table games
|
648 | 616 | 626 | 613 | ||||||||||||
Average number of slot machines
|
2,365 | 2,299 | 2,266 | 2,426 | ||||||||||||
Las Vegas Operating Properties:
|
||||||||||||||||
Table games win per unit per day (3)
|
$ | 6,081 | $ | 2,660 | $ | 5,896 | $ | 5,171 | ||||||||
Slot machine win per unit per day (4)
|
$ | 217 | $ | 215 | $ | 206 | $ | 209 | ||||||||
Average number of table games
|
253 | 239 | 244 | 232 | ||||||||||||
Average number of slot machines
|
2,317 | 2,329 | 2,343 | 2,222 | ||||||||||||
Sands Bethlehem:
|
||||||||||||||||
Table games win per unit per day (3)
|
$ | 3,344 | $ | 3,244 | $ | 3,104 | $ | 3,049 | ||||||||
Slot machine win per unit per day (4)
|
$ | 246 | $ | 251 | $ | 262 | $ | 264 | ||||||||
Average number of table games
|
147 | 122 | 145 | 121 | ||||||||||||
Average number of slot machines
|
3,008 | 3,018 | 3,013 | 3,015 |
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