Covid impact leads Las Vegas Sands to $2.18bn loss in 2020
28th January 2021
| By Daniel O Boyle
Las Vegas Sands made a loss of more than $2bn with revenue falling 73.7% to $3.61bn for 2020, as new chief executive Robert Goldstein announced the results of a year severely impacted by the novel coronavirus (Covid-19).
Casinos were still the largest contributor to revenue, but revenue from this segment was down 65.9% year-on-year to $2.27bn.
Room revenue fell 72.5% to $498m while food and beverage revenue was down 68.7% to $283m. Mall revenue fell 46.8% to $381m and convention, retail and other revenue was down 66.7% to $182m.
The decline in revenue was sharpest in Macau, where travel restrictions impeded all operators’ earnings for most of the year, meaning revenue from the special administrative region was down 80.7% to $1.71bn.