Las Vegas Sands said third-quarter profit surged 79 percent, boosted by record earnings from Macau. The U.S.-based operator had a profit of $626.7 million, or $0.76 a share, compared with $349.8 million, or $0.42 cents a year earlier. Adjusted earnings per share rose to $0.82 cents, topping analysts’ forecasts for $0.76 cents on that basis. Revenue rose 32 percent to $3.57 billion, above forecasts for $3.47 billion. Sands China revenue rose 43 percent to $2.34 billion, now accounting for two thirds of the total. Adjusted property Ebitda for Macau jumped 61 percent to $784.3 million. The company paid a recurring quarterly dividend of $0.35 per common share during the quarter, an increase of 40 percent compared to the third quarter of 2012.
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Singapore police have busted at least two illegal gambling operations in the past week, while across Asia authorities have moved to stamp out illicit activities, from raids on premier league matches in India, to illegal number forecasting in Malaysia.
The Puducherry union territory government has urged the union government to ban online gaming platforms and mobile apps, describing it as a necessity to protect the mental health of vulnerable people.
The next edition of the AGB Webinar Series will look at the future of iGaming customer acquisition and retention, which has been going through a transition period over the last year.