Las Vegas and Macau based Sands Corp., owners of Sands Casino, tuned its third-quarter figures down a notch after an unexpected net loss in both baccarat and Blackjack. According to the casino owner, players have won more money than the casino. This resulted in a net loss of $48.5 million.According to Bloomberg.com, the "earnings before taxes and other items fell 39 percent at the Sands Macao."
The results from the properties were disappointing,'' said Matthew Jacob, an analyst with Majestic Research in New York. The gambling losses ``made a bad quarter look worse. Expectations were sky high for Macau and they were in a situation where, coming out of the gate, it was tough to meet those expectations.Overall, casinos in Las Vegas saw a net growth during the third quarter with the exception of MGM Mirage that lost players to Wynn and the Venetian. It claimed that construction disruptions were to blame for the downturn.
2007-11-08
