Las Vegas Sands releases results for 3rd quarter report; weekend market seems to be surging

The Strip

LAS VEGAS (KLAS) — The Las Vegas Sands released its financial results for the third quarter Wednesday. Its properties include the Venetian and Sands Expo in Las Vegas, as well as properties in Singapore and Macao.

CEO Sheldon Adelson says the Las Vegas recovery is well underway, and that weekend occupancy at Sands local properties have been as high as 70%. While they say the weekend market is surging, mid-week is not.

Las Vegas Sands President Robert Goldstein says there are still some big challenges before conventions and large groups will return to the city. The biggest factor they point to is Governor Steve Sisolak’s group and size restrictions.

“The governor revisits restrictions is pivotal, airlift is another,” said Goldstein. “It’s not driving business; that’ll come back when the market demand is there. The third thing to populate the market, a change in the catalyst is really in consumer views ready to be in a place with 30-40-50 thousand people.”

He adds the Sands Corp gets calls every day because people are itching to come back, especially convention go-ers and small tech groups.

They hope it will kick back up in April, May, and June of next year.

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