| By Matt Assad, The Morning Call (Allentown, Pa.)McClatchy-Tribune Regional News May 01--Las Vegas Sands, the parent company of Sands Casino in Bethlehem, announced record quarterly earnings today for its global casino, hotel and convention center empire. Sands officials said first-quarter net revenue rose 19.5 percent to $3.3 billion, net income rose 14.6 percent to $572 million, and earnings per share rose 13.1 percent to 69 cents a share. While its massive casinos in Macau, Singapore and Las Vegas can be credited with most of those profits, at least some of that can be attributed to strong profits in its Bethlehem Casino. For the three-month period ending March 31, Bethlehem recorded $29.9 million in earnings before interest, taxes, depreciation and amortization -- the key number in determining a casino's profit. "I am extremely pleased to report all-time record quarterly financial results that reflect strong revenue and cash flow growth and the steady execution of our global growth strategy," company CEO Sheldon Adelson said during an earnings call Wednesday. Its casino in Macau led the company with $630 million in EBITDA, a 38 percent increase over the same three-month period in 2012. Las Vegas Sands is the world's largest casino operators, with casinos in Las Vegas, Macau, Singapore and Bethlehem. Its Bethlehem complex includes a casino with 3,000 slot machine and 189 tables games, a 302-room hotel, a shopping outlet mall and an events center. 610-820-6691 ___ (c)2013 The Morning Call (Allentown, Pa.) Visit The Morning Call (Allentown, Pa.) at www.mcall.com Distributed by MCT Information Services |
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