Las Vegas Sands beats profit expectations

LAS VEGAS — Las Vegas Sands Corp. beat Wall Street’s expectations in the third quarter as record profits in Macau helped make up for continued weakness in Las Vegas.

The gambling giant’s income nearly doubled, driven by growth at Sands’ five Macau properties. Macau is the only place in China where casino gambling is legal.

Casino revenue remained sluggish at the company’s two Las Vegas casinos, the Venetian and Palazzo.

The company run by billionaire CEO Sheldon Adelson on Thursday reported net income of $626.7 million, or 76 cents per share, up from $349.8 million, or 42 cents per share. Revenue grew by 32 percent to $3.57 billion.

Adjusted earnings were 82 cents per share. Analysts polled by FactSet predicted 76 cents per share on $3.47 billion.

The stock is down less than 1 percent in aftermarket trading after a 2 percent rise during the day.

More in Herald Business Journal

Happy accident leads Edmonds couple to make Hunniwater drink

The latest line of energy drinks by Karin and Eric… Continue reading

Single payer is no panacea for our costly health care system

We must address the cost of health care before designing an insurance system.

Voters are on the sidelines as the port fills a vacant seat

Troy McClelland resigned from the Port of Everett commission too late for an election before 2019.

Career Fair planned next week at Tulalip Resort Casino

The Snohomish County Career Fair is planned from 10 a.m. to 2… Continue reading

American Farmland Trust president to speak in Mount Vernon

American Farmland Trust President John Piotti plans to give a talk about… Continue reading

Not home? Walmart wants to walk in and stock your fridge

The retailer is trying out the service with tech-savvy shoppers who have internet-connected locks.

Trade panel: Cheap imports hurt US solar industry

The ruling raises the possibility of tariffs that could double the price of solar panels.

Agent joins Re/Max in Smokey Point

Dennis Roland joined the Re/Max Elite Smokey Point office. The Navy veteran… Continue reading

In space capsules today, little room but big improvement

Boeing and SpaceX are relying on a tried-and-true design as they each develop new spacecraft.

Most Read