Las Vegas Sands Top Integrated Resorts Company in US, Four Casino Operators Land on Fortune 500
Posted on: May 18, 2020, 02:21h.
Last updated on: May 18, 2020, 02:51h.
Las Vegas Sands has once again been named to the Fortune 500 list, which was released yesterday by the financial business magazine.
The Fortune 500 ranks the largest companies in the United States by total revenue based on their latest fiscal years. Sands, owner of Las Vegas’ The Venetian and Palazzo, Marina Bay Sands in Singapore, and five integrated resorts in China’s Macau, reported revenue of more than $13.73 billion in 2019. That ranks the casino giant No. 235 on the Fortune 500.
Sands is the top ranked Integrated Resort company on the prestigious annual list,” the company said. “We are only as strong as the Team Members who work at our resorts and the communities we all call home, and we maintain our unwavering commitment to the well-being of our Team Members and our communities – now and in the future.”
Sands reported a profit of nearly $2.7 billion in 2019, and has a market value of more than $32.4 billion. The company employs 50,000 workers.
Sands makes the majority of its revenue from its properties in China: Sands Macau, The Venetian Macau, The Plaza Macau, Sands Cotai Central, and The Parisian.
Despite Sands being the top IR firm on the Fortune 500, the company announced last week it was foregoing its efforts to win licensure in Japan. The Asian nation is in the process of awarding three integrated casino resort concessions, viewed by many gaming analysts as the most lucrative opportunity since Macau welcomed five commercial casino operators in 2002.
Four on 500
Las Vegas Sands was joined on the Fortune 500 by rivals MGM Resorts, Caesars Entertainment, and Wynn Resorts. Those three companies respectively ranked No. 249, No. 363, and No. 454.
Revenue Profit Market Value
MGM $12.9B $2B $5.8B
Caesars $8.7B $-1.2B $4.6B
Wynn $6.6B $123M $6.4B
While not ranked on the Fortune 500, several other casino operators and gaming industry companies have revenues that make them one of the country’s 1,000 largest corporations.
Penn National Gaming ranked No. 527 on revenues of $5.3 billion. Scientific Games is No. 711, revenues for the gaming manufacturer totaling $3.4 billion. Regional casino power player Boyd Gaming ranked No. 728 on $3.3 billion, and Eldorado Resorts No. 868 on $2.5 billion.
Once Eldorado completes its acquisition of Caesars, the combined unit will jump on the Fortune 500 list. The merged companies will retain the Caesars Entertainment name.
2020 Painful Year
The vast majority of companies on the Fortune 500 list are expected to see a decline in their 2020 revenues due to the coronavirus pandemic. And that’s especially true for companies invested in the gaming industry and tourism sectors.
For the purposes of analysis, the US Bureau of Labor Statistics aggregates several business sectors into “supersectors.” And the “Leisure and Hospitality” supersector has been the hardest-hit grouping during COVID-19 in terms of job losses.
The supersector has reported a 48.3 percent decline in jobs from February to April. The gaming industry has been even more devastated, the sector seeing a nearly 60 percent drop.
Related News Articles
Related News Articles
- December 18, 2020 — 11 Comments—