Las Vegas Sands Rises as Chinese Gamblers Defy Economic Worries

(Bloomberg) — Las Vegas Sands Corp. reported sales that beat Wall Street’s expectations as Chinese mainlanders’ travel to Macao continued its recovery, defying concerns of an economic slowdown.

Sales were $2.92 billion, rising 161% from a year earlier, the company said in a statement. Analysts had expected $2.89 billion. The company reported adjusted earnings per share of 57 cents, compared with a year-earlier loss of 19 cents — the biggest improvement since normal travel conditions resumed after the pandemic — though they fell short of consensus estimates.