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© Reuters.By Christiana Sciaudone
The casino operator lost less money than expected, posting an adjusted loss per share of 67 cents on revenue of $586 million. That was below the consensus estimate for a loss of 74 cents.
“We remain optimistic about the eventual complete recovery of travel and tourism spending across our markets, as well as our future growth prospects,” said Chairman and CEO Sheldon Adelson in a statement.
“The indications that the company could be approaching break-even in Macau, coupled with the continued confidence the market access should progress in the coming months, should be taken positively by the market,” Katz wrote, according to StreetInsider.
The company reported adjusted property earnings before interest, taxes, depreciation and amortization of -$78 million for its Venetian Macao, -$71 million for Sands Cotai Central, -$40 million for The Parisian Macao and -$26 million for Sands Macao. Those were all improvements over the second quarter.
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