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Gambling in the USA

Las Vegas Sands Reports First Quarter 2020 Results

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Las Vegas Sands Faces $12B Lawsuit in Macau Court

 

For the quarter ended March 31, 2020 (Compared to the quarter ended March 31, 2019)

– Greatest Priorities Remain the Safety and Security of Team Members and Guests and Support for Local Communities in Macao, Singapore and Las Vegas

– The Company will Continue Previously Announced Capital Expenditure Programs in both Macao and Singapore

– Strong Balance Sheet Positions the Company Well to Invest in Future Growth Opportunities

Las Vegas Sands Corp. (NYSE: LVS), the world’s leading developer and operator of convention-based Integrated Resorts, reported financial results for the quarter ended March 31, 2020.

“The impact of the Covid-19 pandemic on our business has been unprecedented, and I have never seen anything like it in my over seventy years in business,” said Sheldon G. Adelson, chairman and chief executive officer. “Our greatest priority during this difficult time remains our deep commitment to supporting our team members and to helping those in need in each of our local communities of Macao, Singapore and Las Vegas.

Despite these circumstances, our balance sheet strength will enable us to emerge from this pandemic with all our promising future growth opportunities fully intact. We remain extremely optimistic about an eventual recovery of travel and tourism spending across our markets, as well as our future growth prospects. We are fortunate that our financial strength will allow us to continue to execute our previously announced capital expenditure programs in both Macao and Singapore, while continuing to pursue growth opportunities in new markets.”

Net revenue was $1.78 billion, a decrease of 51.1% from the prior year quarter. Operating income decreased 94.3% to $55 million. Net loss in the first quarter of 2020 was $51 million compared to net income of $744 million in the first quarter of 2019. Consolidated adjusted property EBITDA was $437 million, a decrease of 69.9% from the prior year quarter.

The company paid a quarterly dividend of $0.79 per common share on March 26, 2020. The company has suspended its quarterly dividend program due to the impact of the novel coronavirus (“COVID-19”) pandemic.

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Sands China Ltd. Consolidated Financial Results

On a GAAP basis, total net revenues for SCL decreased 65.1%, compared to the first quarter of 2019, to $814 million. Net loss for SCL was $166 million, compared to net income of $557 million in the first quarter of 2019.

Other Factors Affecting Earnings

Interest expense, net of amounts capitalized, was $131 million for the first quarter of 2020, compared to $141 million in the prior-year quarter. The decrease resulted from our weighted average borrowing cost in the first quarter of 2020 decreasing to 4.2%, compared to 4.6% during the first quarter of 2019.

Our income tax expense for the first quarter of 2020 was $25 million, compared to $85 million in the prior year quarter. The tax rate for the first quarter of 2020 was primarily driven by a 17% statutory tax rate on our Singapore operations.

Balance Sheet Items

Unrestricted cash balances as of March 31, 2020 were $2.60 billion.

The company has access to $3.93 billion available for borrowing under our U.S., SCL and Singapore revolving credit facilities, net of outstanding letters of credit.

As of March 31, 2020, total debt outstanding, excluding finance leases, was $12.30 billion.

Capital Expenditures

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Capital expenditures during the first quarter totaled $320 million, including construction, development and maintenance activities of $241 million in Macao, $33 million in Las Vegas and $46 million at Marina Bay Sands.

Conference Call Information

The company will host a conference call to discuss the company’s results on Wednesday, April 22, 2020 at 1:30 p.m. Pacific Time. Interested parties may listen to the conference call through a webcast available on the company’s website at www.sands.com.

About Las Vegas Sands Corp. (NYSE: LVS)

Las Vegas Sands is the world’s pre-eminent developer and operator of world-class Integrated Resorts. We deliver unrivaled economic benefits to the communities in which we operate.

Sands created the meetings, incentives, convention and exhibition (MICE)-based Integrated Resort. Our industry-leading Integrated Resorts provide substantial contributions to our host communities including growth in leisure and business tourism, sustained job creation and ongoing financial opportunities for local small and medium-sized businesses.

Sands is dedicated to being a good corporate citizen, anchored by the core tenets of serving people, planet and communities. We deliver a great working environment for our team members worldwide, drive social impact through the Sands Cares charitable giving and community engagement program and lead in environmental performance through the award-winning Sands ECO360 global sustainability program. To learn more, please visit www.sands.com.

SOURCE Las Vegas Sands Corp.

Gambling in the USA

California Gambling Control Commission Advances Licensing, Tribal Partnerships, and Responsible Gaming Initiatives

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Sacramento, CA — In a meeting packed with regulatory updates and licensing decisions, the California Gambling Control Commission (CGCC) convened on April 24 to advance numerous agenda items impacting the state’s gambling landscape—from tribal gaming approvals to responsible gambling programs and operator renewals.

Problem Gambling & Public Health Takes the Stage

The Commission meeting opened with a presentation by Sosha Marasigan-Quintero from the California Department of Public Health, offering an overview and update on the California Problem Gambling Treatment Services Program. While no specific staff recommendations were provided, the update underscores California’s continued focus on behavioral health in gambling.

Tribal Revenue Distribution Approved

The Commission approved the quarterly distribution of payments from the Revenue Sharing Trust Fund to eligible recipient Indian Tribes. This routine, yet vital, procedure ensures the equitable distribution of revenue to support tribal sovereignty and infrastructure across the state.

Cardroom Licensing: Approvals and Extensions

Among key licensing matters:

  • 500 Club Casino (K & M Casinos, Inc.) received both initial and renewal owner-type license approvals through January 2027.

  • Casino Chico, Hollywood Park Casino, and Lake Bowl Cardroom were granted renewals and short-term extensions, some with conditions such as improving record-keeping systems or ensuring regulatory compliance ahead of reopening.

  • Hotel Del Rio & Casino was granted a 60-day extension under several strict conditions, including updated safety plans and the restatement of commingled financial records.

Key Employee Licensing Actions

The Commission approved several initial and renewal key employee licenses. Notably:

  • Jeffrey Thompson was approved with a condition prohibiting involvement in illegal gambling activities.

  • Kevin Lee and George Rahme received 120-day extensions for renewal processing.

Third-Party Proposition Player Services Under Scrutiny

The Commission approved both initial and temporary licenses for Fortune Players Group, Inc., with a lengthy list of conditions tied to the conduct of a former associate, Rene Medina. These conditions highlight the Commission’s ongoing vigilance in monitoring third-party player services and maintaining compliance across operations.

Progressive Gaming, LLC was also approved for an initial license, further expanding third-party service provider capacity.

Gaming Resource Suppliers & Tribal Approvals

Initial suitability findings for several prominent tribal gaming resource suppliers were approved, including:

  • HCAL, LLC

  • JCM Global

  • Konami Gaming, Inc.

  • PDS Gaming, LLC

Dozens of tribal gaming employees were also approved for key positions at tribal casinos across California, reflecting the Commission’s continued support of tribal gaming operations and the necessary workforce to support it.

Notable Withdrawals and Denials

In two notable cases, requests to withdraw license applications—Josephine Hoang and Jesus Bojorquez—were denied, signaling the Commission’s increased scrutiny and emphasis on applicant accountability.

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A Broader Look Ahead

With regulatory reform on the horizon and ongoing efforts to promote responsible gaming, the April 2025 CGCC meeting showcased a mix of routine license management and deeper engagement with emerging compliance issues. As the Commission prepares for the next quarter, the groundwork laid in this session will likely influence policy developments and enforcement trends across California’s gambling sector.

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Gambling in the USA

NEW YORK CASINO IN MEXICO WELCOMES CONCEPT AND NEW GAMES FROM ZITRO

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The renowned Mexican operator Logrand has installed Zitro’s new CONCEPT cabinets and a selection of its latest games at the New York Casino in Monterrey.

Building on its global success, the CONCEPT cabinet line stands out for its Magic Lighting, immersing players in a synchronized light display, resulting in a unique sensory experience. Furthermore, the cabinet’s large Screen Deck blends comfort with intuitive functionality, optimizing the experience for players and operational teams.

The installation of the CONCEPT cabinets is complemented by the addition of the medieval-themed multi-game Legendary Sword, in which players can double their prizes through unique mechanics with the help of a magic sword.

On the other hand, Fairyland Quest takes players to an enchanted forest where Magic Mushrooms give access to a different bonus each, while a friendly Fairy will give a special bonus that doubles the playing area.

Juan David Baracaldo, Director of Operations and Product, highlighted: “The addition of Zitro’s CONCEPT cabinets is a great step to continue offering unique and high-quality experiences to our players. The unique combination of technology, spectacular graphics, and the experience these cabinets offer will further elevate our casino’s entertainment offering.”

For his part, Johnny Ortiz Viveiros, founder of Zitro, expressed: “We are very excited to strengthen our partnership with Logrand, a strategic partner that shares our vision of providing exceptional gaming experiences. The new CONCEPT cabinets and games like Legendary Sword and Fairyland Quest are just the beginning of what will transform how players enjoy entertainment.”

 

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Gambling in the USA

Sky River Casino Guest Wins Half-million Dollars Playing Progressive Blackjack

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Sky River Casino has announced that an Elk Grove resident has won a whopping $511,311 while playing progressive blackjack on March 31, 2025. The Sky River Rewards member hit the big win after playing the table game for less than an hour.

“Our progressive table games and slot machines continue to be really hot here at Sky River Casino. Our players have had an impressive number of life-changing jackpots and our winning streak continues. We look forward to the next big win and welcome adults near and far to visit to explore and enjoy our high-energy atmosphere, lively promotions, exciting gaming, and unparalleled dining experiences,” said Michael J. Facenda, President of Sky River Casino.

The lucky local guest plans to use her winnings to renovate a kitchen and build a house back home.

“Without question, the best part of my job is watching our valued members and guests experience jaw dropping wins like this one. We all share in the incredible excitement that is absolutely contagious and can be felt throughout the casino,” said Charleen Ripley, VP of Casino Operations for Sky River Casino.

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