Las Vegas Sands Corp. (NYSE:LVS) Q1 2023 Earnings Call Transcript

We really believe that it’s going to get stronger over-time. And particularly with investment in high-quality tourism assets, which is what the Marina Bay Sands expansion is. But I think it’s really important to note that there’s been significant inflation since we began discussions a year ago. So the cost at Marina Bay Sands expansion is going be a lot higher. The good news is, the market is so good. We think the opportunity is going to be a lot stronger or will do a lot better.So, I think to set expectations, the investments that we make, both in Macao, are going to be very strong return. We’re very excited about them over the next concession periods. We’re really looking forward to investing in Marina Bay Sands expansion. We think it’s going to be a great asset.

But both of these are going to be expensive. The good news is that we believe the returns are there or we wouldn’t be doing them.So, I don’t think our investment thesis has changed in either market with the cost inflation. We believe in our long-term success in these markets. We sort of have a very long-term thesis in both of them and going to deploy capital into both in scale. And we’re going to look for high returns, and we feel very strongly about the opportunity in both of these markets. But I did want to say that it’s going to be expensive and it’s going to be worth it.Rob Goldstein We are fortunate to be in two markets: one, our expense, the two, reward the money spend. I think we’re very fortunate to be in a market that can grow and grow, and we will continue to invest heavily because we believe we’ll get back to much bigger numbers in both markets.

So stay tuned. We appreciate your time today. Thank you very much.Dan Politzer Got it. Thanks so much.Operator Thank you. Ladies and gentlemen, this does conclude today’s conference call. You may disconnect your lines at this time and have a wonderful day. Thank you for your participation.