Hong Kong-listed Sands China, an arm of Las Vegas casino mogul Sheldon Adelson's Sands Corp, said net profit rose 6.4 per cent to US$279.3 million for this year's first quarter from US$262.4 million a year earlier.
Sands China's net revenue for the quarter rose 25.1 per cent to US$1.45 billion, from US$1.16 billion in the same period last year. The Venetian, the firm's giant casino on the Cotai strip, 'delivered solid growth in gaming volumes in each segment of the business', it said in a filing to the Hong Kong stock exchange.
The casino delivered record adjusted property earnings before interest, taxes, depreciation and amortisation (ebitda) - widely used to measure the performance of gaming companies - of US$282 million, a year-to-year increase of 23.6 per cent.
Teng Yee Tan, an analyst at CIMB Securities, said Sands China's first-quarter performance was 'OK'. He said the firm, with two casino resorts in Cotai during the period, was in a better position than companies without a presence there.