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Without Adelson, Las Vegas Sands posts $299 million loss

SANDS CORP
Posted at 11:57 AM, Jan 28, 2021

LAS VEGAS (AP) — Las Vegas Sands Corp. posted a fourth-quarter loss of $299 million, after reporting a profit in the same period a year earlier, as the casino and resort operator saw its business dry up due to the coronavirus pandemic.

The Las Vegas-based company said it had a loss of 39 cents per share. Losses, adjusted for non-recurring costs, came to 37 cents per share.

The results did not meet Wall Street expectations.

The average estimate of seven analysts surveyed by Zacks Investment Research was for a loss of 31 cents per share. The company also continues to deal with the fallout of the recent death of its founder and CEO, Sheldon Adelson.