The reported financial highlights announced yesterday by Las Vegas Sands Corp included a 28.5% increase in net revenue to US$2.24 billion. In 2006 the Sands Macao generated EBITDA of US$458 million and The Venetian achieved a record US$134.1 million, the highest earned in the history of Las Vegas. History, according to President and COO William P Weidner was also being made in Macau.

"We delivered record operating results at both our Las Vegas and Macao properties, and made strong progress in the execution of our Cotai Strip development plans as we lead the historic effort to create Asia's Las Vegas. In addition, to complement our developments on the Cotai Strip, we advanced our plans to develop a non-gaming leisure resort and convention destination on Hengqin Island, in the People's Republic of China.”

Last year besides winning the licence to build and operate Singapore’s first integrated resort with casino, Sands was selected by the Pennsylvania Gaming Control Board for one of the five stand-alone slots parlour licences. The projects for The Marina Bay Sands in Singapore and The Sands Bethworks in Bethlehem, Pennsylvania have now been initiated. In Macau The Venetian Macao when it opens in the summer is set to become the world’s largest gaming facility as measured by the number of table games.

In December Sands increased its share of the Macau gaming market to over 21%. Visitor trends have continued to rise, providing momentum as the company prepares to open the first true integrated destination resort in Macau. Weidner stated, "We remain extremely pleased with our performance at The Sands. Despite the introduction of significant high-quality, competitive product in the Macao marketplace, both our VIP and mass businesses remain extremely healthy, our visitation statistics continue to increase, and our operating performance remains strong."

Weidner concluded, "While we have delivered superior financial and operating results, the opportunities that lie ahead, in both the short and long term, remain significant. We believe that successful execution of our first mover advantage in Macao will create opportunities for outstanding returns. In Las Vegas, the market is now as robust, and competitive, as it has ever been. Our experience in Asia, which has influenced both the retrofitting of The Venetian and the final design of The Palazzo, in combination with our prime location on the Las Vegas Strip and unique convention-centric model, will give us a distinct competitive advantage in this marketplace for the foreseeable future.” (E-02.06.07)

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