Las Vegas Sands Corp. (NYSE:LVS) Q3 2023 Earnings Conference Call October 18, 2023 4:30 PM ET

Company Participants

Daniel Briggs - SVP, IR

Robert Goldstein - Chairman & CEO

Patrick Dumont - President & Chief Operating Officer

Grant Chum - EVP of Asia Operations & COO of Sands China

Conference Call Participants

Carlo Santarelli - Deutsche Bank

Joe Greff - JPMorgan

Robin Farley - UBS

Stephen Grambling - Morgan Stanley

Shaun Kelley - Bank of America

Brandt Montour - Barclays

Daniel Politzer - Wells Fargo

David Katz - Jefferies

Operator

Good day, ladies and gentlemen, and welcome to the Sands Third Quarter 2023 Earnings Conference Call. At this time, all participants have been placed on listen-only mode. We will open the floor for your questions and comments following the presentation.

It is now my pleasure to turn the floor over to Mr. Daniel Briggs, Senior Vice President of Investor Relations at Sands. Sir, the floor is yours.

Daniel Briggs

Thank you, Paul. Joining the call today are Rob Goldstein, our Chairman and CEO; Patrick Dumont, our President and COO; Dr. Wilfred Wong, the President of Sands China, and Grant Chum, EVP of Asia Operations and COO of Sands China.

Today's conference call will contain forward-looking statements. We will be making those statements under the safe harbor provision of federal securities laws. The company's actual results may differ materially from results reflected in those forward-looking statements.

In addition, we will discuss non-GAAP measures. Reconciliations to the most comparable GAAP financial measures are included in our press release. We have posted an earnings presentation on our website. We may refer to that presentation during the call.

Finally, for the Q&A session, we ask those with interest to please pose one question and one follow-up, so we might allow everyone with interest the opportunity to participate. This presentation is being recorded.

I'll now turn the call over to Rob.

Robert Goldstein

Thanks, Dan, and thanks for joining us today. Macao diluted $630 million of EBITDA for the quarter and we are only eight months into our post-COVID reopen. These are early days. We began in Q1 with $400 million of EBITDA; Q2, we did $540 million of EBITDA; and Q3 is now at $630 million of EBITDA. Look forward to growth in both the gaming and non-gaming revenue to lift the entire market.

SCL (ph) the largest share of non-rolling table win, rolling table win and slot ETG win. We've always believed that completed Londoner will meet perhaps exceed the earning power of the nation. Our future growth in Macao is tethered these powerful assets which have all the variables necessary to drive growth in years ahead. Whether it's rooms, gaming capacity, retail, entertainment, food and beverage, we have stellar assets. There is speculation about future growth of Macao.