Las Vegas Sands misses Street estimates, travel restrictions hit

By Doyinsola Oladipo

NEW YORK, Jan 25 (Reuters) - Las Vegas Sands Corp on Wednesday reported a wider-than-expected quarterly loss and its revenue fell short of Wall Street estimates as travel restrictions and fewer trips to its casinos in Asia hit results.

The Las Vegas-based casino operator sees a recovery in future demand, pointing to the return of traffic to its locations following the Lunar New Year. Its property in Macau saw 71,000 visitors on Monday, the highest single day since the pandemic.

Shares of the company fell 1.5% in trading after the bell.

The casino operator said it remains confident in a robust recovery in travel and tourism spending across its markets, the company's chief executive officer, Robert G. Goldstein said in a statement.

Las Vegas Sands posted an adjusted fourth-quarter loss of 19 cents per share missing analysts' expectations for a loss of 9 cents a share, according to Refinitiv data.

The casino operator's revenue rose to $1.12 billion in the fourth quarter from $1.01 billion a year earlier, but missed analysts' average estimate of $1.18 billion. (Reporting by Doyinsola Oladipo in New York; Editing by Anna Driver)