Las Vegas Sands Corporation (NYSE:LVS) Q2 2024 Earnings Conference Call July 24, 2024 4:30 PM ET
Company Participants
Daniel Briggs - SVP, IR
Robert Goldstein - Chairman & CEO
Patrick Dumont - President & COO
Randy Hyzak - CFO
Zachary Hudson - EVP, Global General Counsel, Secretary
Conference Call Participants
Joe Greff - JP Morgan
Stephen Grambling - Morgan Stanley
Robin Farley - UBS
Carlo Santarelli - Deutsche Bank
Shaun Kelley - Bank of America Merrill Lynch
Chad Beynon - Macquarie
Brandt Montour - Barclays
David Katz - Jefferies
Dan Politzer - Wells Fargo
Steven Wieczynski - Stifel
Operator
Good day, ladies and gentlemen, and welcome to the Sands Second Quarter 2024 Earnings Call. [Operator Instructions]
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, Matthew. Joining the call today are Rob Goldstein, Patrick Dumont, Dr. Wolford Wong and Grant Chum.
Today's conference call will contain forward-looking statements. We'll be making these statements under the safe harbor provision of federal securities laws. The company's actual results may materially from the results reflected in those forward-looking statements. In addition, we will discuss non-GAAP measures. Reconciliations to the most comparable GAAP measure are included in our press release. We've also posted an earnings presentation on our website. We will refer to that presentation during the call. Timing for the Q&A, we ask those of interest to please pose one question and one follow-up, so we might allow everyone within the opportunity to participate. The presentation is being recorded.
I'll now turn the call over to Rob.
Robert Goldstein
Thanks, Dan, and thanks for joining us today. Macau market continues to grow. Total gain revenues for the market grew 24% in the second quarter of 2024 when compared to the second quarter of 2023. In addition, mass play revenue grew 29% compared to 1 year ago. We remain confident in the future growth in Macao market. I believe Macao market gross gain revenue will exceed $30 billion next year and continue to grow year after year.
Our business strategy is predicated or investing in high-quality assets and also have scale. Macau is and always has a deeper competitive market. Our strategic approach has enabled us to compete very effectively. We have designed our capital investment programs to ensure that we will continue to be the market leader years ahead. Our approach allows us to grow fast from the long term and large share EBITDA and generate industry-leading returns on invested capital.