News Summary: Las Vegas Sands 2Q profit slumps

AP News
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Posted: Jul 25, 2012 6:57 PM
News Summary: Las Vegas Sands 2Q profit slumps

TABLES TURN: Las Vegas Sands Corp., which owns casinos in Sin City, Pennsylvania, Singapore and Macau, said Wednesday that second-quarter profit fell 35 percent to $240.6 million due partly to lower table winnings.

BAD HAND: Excluding special items, the company said it would have earned 44 cents per share, but analysts were expecting 60 cents per share. The stock fell in after-hours trading.

DOUBLING DOWN: The company's billionaire chairman and CEO, Sheldon Adelson, said the company expected strong growth from its new Sands Cotai Central resort, the company's fourth hotel casino in the Chinese region of Macau.