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Las Vegas Sands profits doubled, increasing Asian market revenues

US casino operator Las Vegas Sands Corp. (LVS) in the 2013 second-quarter profit more than doubled, thanks to continued strength in its Asian operations to make up for the relative weakness in the US domestic market. Profit $ 529.8 million, far higher than the $ 240.6 million last year (although last year $ 100.7 million impairment charge). Overall revenue rose 25.6 percent to $ 3.24 billion, while casino gambling revenue rose 29 percent to $ 2.67 billion ʱ??

As usual, the Sands (China) for the Sands (LVS) provides substantial revenue, compared with the second quarter of 2012, its 20.$ 700 million in revenue represents 39.9% growth.After-tax net profit growth of 54.8% to 6.$ 54.8 billion, net income grew an incredible 203.8% to 4.$ 87.6 billion.In Macao, The Venetian Macao Resort net income increased 37.8% 8.$ 94.7 billion, which is largely due to a higher success rate "mud code" (3.41% v.Last year's 2.68%)."Mud code" volume rose 6.1%, to 118.$ 400 million, while the average revenue growth of 56 chips.1%, to a record 15.$ 900 million, reflecting the continued expansion of the common market in Macau.Slot machine revenue 11.$ 500 million, essentially flat with last year.

At Sands Cotai Central, mud yard winning rate decline trend, falling from 3.12% to 2.35% last year in the second quarter of 2013. Compared to the second quarter of 2012, 81 days game joint operations, overall revenue grew by 119.9 %, reaching $ 584 million. sludge code transaction volume grew 110.2%, reaching $ 14.3 billion, while the average stack trading volume rose 215.4%, to reach $ 1.3 billion, while the general market income is relatively stable at 22.1%. Although slot machines holdings dropped to 3.8% from 4%, but its revenue growth 87.8%, to reach $ 1.25 billion this quarter Cotai hotel occupancy rate fell 7.6 percentage points, down to 67.5%.

Four Seasons Hotel Macao and Paragon Casino revenue increased 3 percent to $ 274.1 million. Sludge codes turnover rose 8% to $ 9.94 billion, while its equity fell from 3.05% to 2.93%. Ordinary revenue grew 104.5 percent, reached $ 186.1 million, but the win rate dropped as much as 21.4 percentage points, down to 22.5%. slot machine trading volume fell by 8.6%, but the holdings increased from 5.4% to 6.2%, to some extent make up for revenue slot machines. In Macao, Sands mud yards despite trading volume fell 5.6 percent, but revenue increased 8.5 percent to $ 294.7 million. Despite the win rate remained at 20.3% and down ordinary market revenue rose 14.8%, reaching $ 822.9 million. Despite the win rate remained at 4.1% unchanged, but slot machine revenue growth of 4.2%.

In Singapore, the Marina Bay Sands hotel's revenue grew 6.4%, reaching $ 739.5 million. This is due to an increase of 24.9% of the trading volume of mud code and slightly increased 2.53% equity. General market revenues decreased by 3.5%, but holdings rose by 1.2 percentage points to 23.4%. slot machine revenue was flat at $ 2.74 billion, while the holdings of a slight decrease of 5% in the quarter, Marina Bay Sands continued to maintain a stable occupancy rate, increase 0.3 percentage points to 99.4%, including average daily rate rose 8 percent. Sands retail business mail indicates, in the whole of Asia, rental income increased 15 percent to $ 107.3 million.

United States of "sucking sound"

For the US market, Sands (LVS) Las Vegas revenue growth of 5.6% to 3.$ 45.7 billion.This should be attributed to an increase of 26 table games revenue.9%, despite the win rate from 16.5% down to 15.9%.Slot machine transactions increased by 600.8% to 4.$ 75.5 billion, while holdings remained almost at 8.7% unchanged.The hotel occupancy rate increased by 5.4 percentage points to 91.6%, while revenue growth of 6 per room.8% to $ 188.In Pennsylvania, the market leader in Bethlehem Sands reported revenue growth of 10.2%, to 1.$ 26.8 billion, an increase of 18 table games revenue.5% win rate increased 1.9 percentage points to 16.2%.Trading volume rose 4 slot machines.2%, reaching 10.$ 500 million, while the decline in equity 0.2 percentage points, fell to 7%.Occupancy rate increased by 10.3 percentage points to 72.5%.

In the earnings release conference call, Sands owner Sheldon Adelson • In conversations with analysts, said the Las Vegas Strip lackluster performance, in part because rival MGM Resorts International and Caesars Entertainment produced "sucking sound", they ran 20 associates casino.Adelson lifted the two companies "significant" debt burden, because they do not have direct and effective way to repay.Adelson hinted Caesars Entertainment revenue for the quarter just enough "barely pay" their debt settlement business, and Sands can "through the sale of the mall, save us from debt.".Edson believed that in order to attract more customers to the casino and hotel, Caesars and MGM are frantically cut room rent, which will "force me and my friend Steve Wayne reduce our prices".

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