Las Vegas Sands Stock Is Falling as Earnings Miss and Pandemic Restrictions Weigh

Third-quarter revenue and earnings at Las Vegas Sands recovered slightly from last year, the gambling giant said Wednesday, but remained far below 2019 levels as it grappled with heightened Covid-19 restrictions and faces a looming regulatory crackdown in China.

Las Vegas Sands (ticker: LVS) stock was down 2.6% in U.S. premarket trading Thursday. The shares slipped 1.9% Wednesday, before the release of the company’s third-quarter results—which largely missed expectations—after markets closed.

Net revenue at Las Vegas Sands was $857 million in the three months to the end of September, up from $446 million in the same period a year ago but well below prepandemic levels of $3.25 billion in 2019. Revenues fell short of analysts expectations, which were for more than $1.2 billion in quarterly sales, according to FactSet data.

Source: https://www.barrons.com/articles/las-vegas-sands-stock-is-falling-as-earnings-miss-and-pandemic-restrictions-weigh-51634813832