Las Vegas Sands Profits Fall $2 Billion in 2020

Shortly after the passing of Sheldon Adelson, we now learn that Las Vegas Sands profits fell nearly $2.2 billion last year, thanks in large part to the pandemic and diminishing tourism to Nevada. Room revenue fell almost 73% while food and beverage revenue was down 69%. Earnings from their conventions and retail shops fell 67%. Company revenue fell over 70% last year to just $3.6 billion, which the company said was a direct result of the Novel Coronavirus. Macau profits were the worst hit, where restrictions on travel held the Sands in check for most of the year and resulted…

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