Top 5 Leisure Companies in the World

4. Las Vegas Sands Corp. (NYSE:LVS)

Market Cap: $26.95 Billion

Founded by Sheldon G. Adelson in August 2004, Las Vegas Sands Corporation (NYSE: LVS) has quickly stamped its authority as a global leader in developing and operating international, world-class integrated resorts.

With properties featuring accommodations, gaming, entertainment & retail, convention & exhibition facilities, and celebrity chef restaurants, this Nevada-based industry leader currently stands as the largest casino company in the world.

Like Galaxy Entertainment, LVS has also been incurring losses on the back of reduced confidence in the recovery of Macau’s gaming industry due to strict governmental Covid-19 policies, continued weak visitation, and recently reduced economic forecast for China.

Citing reasons mentioned above, Fitch Ratings in its recent report downgraded the Issuer Default Ratings (IDRs) of Las Vegas Sands Corp., Sands China, Ltd, and Marina Bay Sands Pte. Ltd (collectively LVS) to ‘BB+’ from ‘BBB-‘.

As per its Q1 2022 financial results, the company reported a net revenue of $943 million, compared to $1.20 billion in the previous quarter. Operating loss was $302 million, compared to $96 million in the prior year quarter. Net loss from continuing operations was $478 million, compared to $280 million in the first quarter of 2021.

Moving forward, chairman and chief executive officer Robert G. Goldstein sees greater volumes of visitors eventually travelling to Macao and Singapore, and that they anticipate more guests back to LVS properties.

The principal operating and developmental activities of LVS occur in three geographic areas: Macao, Singapore, and the United States. In Macao, its segments include The Venetian Macao; The Parisian Macao; The Londoner Macao; The Plaza Macao and Four Seasons Macao; and Sands Macao. In Singapore, its segment is Marina Bay Sands. In the United States, its segment is the Las Vegas Operating Properties.