Nowadays, looking at every day news, its hard to find updates on businesses ready and available to expand their operations. The pandemic is straining the resources of a lot of industries. But Nevada-based Las Vegas Sands is ready for expansion. Currently, the casino resort developer is focused on its operational properties, as it deals with recovering from the pandemic.
The gambling industry was hit by the pandemic as casinos were shut down for months. Online gaming and sports betting through providers like Easy Sportsbook Pay Per Head was able to rally through – albeit with less revenue. But as economies are reopening, retail casinos are beginning to get back on track and resume operations.
Las Vegas Sands Expansion
Even though the current priority is to ensure the safety of everyone in their properties, the company is also positioning itself to launch capital investment projects in Singapore and Macau. In addition, they are also looking at investing in new markets. Of course, investing is key to starting growth and expansion to help bolster their profit margin as they recover from the recent months.
The plans for expansion in both Macau and Singapore were already made even before the Coronavirus pandemic shut down most industries. Las Vegas Sands has enough financial strength to pursue these plans, even as they are working on regaining normal operations.
Las Vegas Sands 2020 Numbers
Looking at the latest company financial report, their Q2 numbers show net sales of $98 million. This shows a 97% decrease from 2019 Q2’s $3.3 billion. During the same period in 2020, the operating loss is $922 million. Net loss was $985 million. Their revenue has dropped from $6.98 billion to $ 1.88 billion year-to-date. Net loss for the same period is just a bit past $1 billion, which does not look so good, even with a $1.85 billion year on year income.
But experts remain optimistic that the gaming industry will be able to recover quickly, as multiple investments are happening on an international level. These new investments can inject more money in local markets, improve employment numbers, and more. Its also an excellent time for expansion to different markets and platforms. In the case of the gambling industry, it would be investing in online casino and sports betting platform, among others.