Sands Entertainment Reports Third-Quarter Earnings Dip

Sands Entertainment experienced a dip in earnings for the third quarter, with expenses on the rise.

The company’s third-quarter income dropped to $279 million, despite increased operational expenses.

The majority of Sands Entertainment’s total income comes from gaming, which generated $188.4 million, a 2.5% decrease from the same period last year.

Food and beverage sales also saw a slight decline, as did lodging revenue. Other income rose to $16.7 million, but this was insufficient to counterbalance the overall downturn.

The revenue decrease was primarily driven by a decline in income from Nevada resorts, which brought in $98.9 million, a 5.3% drop.

Meanwhile, Sands Entertainment’s revenue from its local casinos in Nevada, the Rocky Gap Resort in Maryland (which it has agreed to sell), and its dispersed gaming operations (such as slot machines in gas stations) all remained stagnant, with all revenue declining but by no more than 1%.