Las Vegas Sands Corp. (LVS), the casino company controlled by billionaire Sheldon Adelson, reported an 18 percent drop in profit, missing estimates as results from the company’s Singapore casino fell short.
Las Vegas Sands cited lower casino revenue in Singapore, the result of higher customer winnings and increased provisions for accounts receivable there. That led to a 5.1 percent drop in adjusted property earnings before interest, taxes, depreciation and amortization, to $876.9 million. Full story
