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April 19, 2015 6:56 PM ET

Hotels, Restaurants and Leisure

Company Overview of Venetian Macau Limited

Company Overview

Venetian Macau Limited develops and operates casino hotel resort properties in Macao. Its properties feature gaming area, which includes table games and electronic gaming devices. The company was formerly known as Venetian Macau Management Limited. The company is based in Macau, Macau. Venetian Macau Limited operates as a subsidiary of Las Vegas Sands Corp.

Zhu Kuan Building

Block I-K

11th Floor

Macau,  

Macau

Phone:

853 883 311

Fax:

853 883 322

Key Executives for Venetian Macau Limited

President and the Chief Executive Officer
Age: 51
Managing Director
General Counsel and Director
Compensation as of Fiscal Year 2014.

Venetian Macau Limited Key Developments

Venetian Macao Reports Unaudited Earnings Results for the Fourth Quarter and Year Ended December 31, 2014

Venetian Macao reported unaudited earnings results for the fourth quarter and year ended December 31, 2014. For the quarter, the company reported net revenues of $880.3 million against $1,149.1 million for the same period last year. Adjusted property EBITDA was $321.4 million against $433.4 million for the same period last year. Operating income was $278.2 million against $392.6 million for the same period last year. The increase in operating income was principally due to stronger results at Marina Bay Sands, which were partially offset by softer results at Macao property portfolio. For the year, the company reported operating income of $1,381,460,000 against $1,344,650,000 for the same period last year. Adjusted property EBITDA was $1,546,323,000 against $1,499,937,000 for the same period last year.

Venetian Macau Limited Announces Unaudited Earnings and Operating Results for the Third Quarter and Nine Months Ended September 30, 2014

Venetian Macau Limited announced unaudited earnings and operating results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net revenues were $943 million against $935.2 million a year ago. The company generated adjusted property EBITDA of $352.7 million, a decrease of 1.3% compared to $357.2 million in the third quarter of 2013. Operating income was $312.4 million against $317.6 million a year ago. For the nine months, the company reported adjusted property EBITDA was $1,224.88 million against $1,066.54 million a year ago. Net revenues were $3,160.37 million against $2,702.15 million a year ago. For the quarter, the company reported rolling chip volume was $10,127.6 million against $14,152.3 million a year ago. Non-rolling chip drop was $2,208.1 million against $2,005.1 million a year ago. Slot handle was $1,440.9 million against $1,144.4 million a year ago. Average daily rate was $269 against $242 a year ago. Revenue per available room was $251 against $222 a year ago. Occupancy was 93.3% against 91.8% a year ago. For the nine months, the company reported average daily rate was $266 against $234 a year ago. Revenue per available room was $246 against $211 a year ago. Occupancy was 92.2% against 90.3% a year ago.

Venetian Macau Limited Announces Earnings Results for the Second Quarter Ended June 30, 2014

Venetian Macau Limited announced earnings results for the second quarter ended June 30, 2014. The property delivered adjusted property EBITDA of $402.1 million, an increase of 11.4% compared to the second quarter of 2013. Non-Rolling Chip drop increased 40.2% to reach $2.23 billion for the quarter with Non-Rolling Chip win percentage of 25.7%. Rolling Chip volume during the quarter increased 4.2% to reach $12.33 billion. Rolling Chip win percentage was 3.45% in the quarter, exceeding both the expected range and the 3.41% experienced in the prior-year quarter. Slot handle increased 17.1% compared to the second quarter of 2013 and reached $1.35 billion. Mall revenues increased 12.5% during the quarter to reach $42.2 million. For the quarter, the company reported net revenues of $1,032.7 million compared with $894.7 million for the same period a year ago. Operating income was $361.2 million compared with $322.6 million for the same period a year ago.

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