By Kimberly Chin

 

Las Vegas Sands Corp. said losses narrowed in the second quarter as revenue recovered from less tourism and more restrictive measures to limit the spread of Covid-19 last year.

The casino operator posted a loss of $192 million, compared with a loss of $820 million in the year-earlier quarter. Per-share losses were 25 cents, compared with $1.07 in losses a year ago. On an adjusted basis, Las Vegas Sands had a loss of 26 cents a share. Analysts polled by FactSet were expecting an adjusted loss of 16 cents a share.

Total net revenue surged to $1.17 billion from $62 million a year earlier. Covid-19-related restrictions and lower tourism dented revenues in the comparable period last year. Analysts were looking for $1.39 billion in revenue.

"We remain confident in the eventual recovery in travel and tourism spending across our markets. Demand for our offerings from customers who have been able to visit remains robust, but pandemic-related travel restrictions in both Macao and Singapore continue to limit visitation and hinder our current financial performance," said Chief Executive Robert Goldstein in prepared remarks.

 

Write to Kimberly Chin at kimberly.chin@wsj.com

 

(END) Dow Jones Newswires

July 21, 2021 16:30 ET (20:30 GMT)

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