LOS ANGELES, Oct 29 (Reuters) - Las Vegas Sands Corp reported a wider third-quarter net loss on Thursday, citing weak spending at its casinos and hotels in Las Vegas as well as income tax costs.
Sands, which is expected to launch a public offering of its Macau operations next month, posted a net loss of $123 million, or 19 cents a share, compared with a year-earlier loss of $32.2 million, or 9 cents a share.
Excluding one-time items, the company reported a profit of 3 cents per share.
Net revenue rose 3.2 percent to $1.14 billion. Analysts had expected $1.17 billion, according to Thomson Reuters I/B/E/S.
In addition to the Palazzo and Venetian resorts on the Las Vegas Strip and two casinos in Macau, Sands opened a casino in Pennsylvania earlier this year. The Las Vegas-based company will next open a gambling resort in the city-state of Singapore in early 2010.
(Reporting by Deena Beasley; Editing by Tim Dobbyn) Keywords: LASVEGASSANDS/ (deena.beasley@thomsonreuters.com; 1-213-955-6746) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Sands, which is expected to launch a public offering of its Macau operations next month, posted a net loss of $123 million, or 19 cents a share, compared with a year-earlier loss of $32.2 million, or 9 cents a share.
Excluding one-time items, the company reported a profit of 3 cents per share.
Net revenue rose 3.2 percent to $1.14 billion. Analysts had expected $1.17 billion, according to Thomson Reuters I/B/E/S.
In addition to the Palazzo and Venetian resorts on the Las Vegas Strip and two casinos in Macau, Sands opened a casino in Pennsylvania earlier this year. The Las Vegas-based company will next open a gambling resort in the city-state of Singapore in early 2010.
(Reporting by Deena Beasley; Editing by Tim Dobbyn) Keywords: LASVEGASSANDS/ (deena.beasley@thomsonreuters.com; 1-213-955-6746) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.