Las Vegas Sands Conference Call Highlights

reported its third quarter earnings on Thursday. Shares of the company are up a whopping six percent. Operational and Financial Highlights: • Despite some obvious challenges in the VIP gaming segment in Asia, we delivered a solid set of financial results increasing our company-wide EBITDA to $1.284 billion, but who's counting. • In Macao, we achieved a third quarter record of $809 million in adjusted property EBITDA. • In addition, we continue to return excess with capital to shareholders via dividends. • I'm as just confident today as I have ever been in the long-term future of our company. • This confidence is not based on whimsical fancy but is founded on the company's sustainable strategic advantages. • First, we are the creators of the large-scale convention-based Integrated Resorts. • As a result, we enjoy the benefit of revenue diversification, and we are able to cater to virtually every type of business and leisure visitor. • Today well over 80% of operating profit in Macao - in both our Macao and Singapore operations comes from mass gaming and non-gaming segments, with less than 20% of profit coming from VIP gaming. • Scale, diversity, and critical mass should position us well for future growth. • These advantages already allow us to out-earn our competitors as we always have on the bottom line where it really counts. • The first half of 2014, we secured 34% share of overall EBITDA in Macao's six-player market. • The share size of our cash flows with annual consolidated EBITDA of over US$5 billion allows us to pursue the relevant opportunities in new jurisdiction and aggressively return capital to shareholders. • Pursued development at opportunities at both Macao and Singapore concurrently. • As a result, I'm happy to say that the company today can simultaneously reinvest capital in existing operations and future projects, pay growing and generous dividends and continue with the judicious share repurchase program. • Macao adjusted property EBITDA grew by 3.2% to US$808 million in quarter three. • Gross gaming revenues declined by 5% year-over-year. • Everyone is talking about China reducing its growth from 7.5% to 7.4%. That's a reduction in growth of 0.1%, which can easily be a rounding error or a meaningless loop. • The mass business in Macao is still growing at 15% per year, the envy of a lot of industries. • 15% growth is still very solid top line growth. And we believe the mass business in Macao will continue to grow for the foreseeable future. • And in particular, as new supply comes online in Macao which very clearly remains a supply-driven market. • Our mass table revenue grew by 15% in the quarter while our ETG revenues grew by 33%. • Our hotel room optimization strategy continues to yield successful results. • Well, I'd say that's a ramping up and supported by a 24% increase in hotel rooms allocated to the mass casino. • Retail sales at our malls grew by 9% year-over-year against the backdrop of declining retail sales in Macao. • The sales in our malls now account for nearly 40% of Macao's retail goods in categories in which we have a presence. • Overall non-gaming revenues grew by 15% during the quarter. • Sands China accounts for over half of the total non-gaming revenues of the six gaming operators in Macao. • Over the last 11 quarters through September 30, 2014, we have returned over $8.3 billion to our shareholders through dividends and stock repurchases. • Including nearly US$7 billion to Las Vegas Sands shareholders and in Hong Kong dollars the equivalent of over US$1.5 billion to the shareholders of Sands China. • Also last year, we increased the annual dividend for LVS 42.9% for the 2014 calendar year. • In 2015, I am pleased to announce that the Board of Directors has recently increased the dividend by 30% to US$2.60 per year or $0.65 per quarter via dividends. • The increase in the dividend will take place beginning in the first quarter of 2015. • We have every intention of increasing the dividends in the years ahead as our business and cash flows continue to grow. • In addition to dividend growth, we returned $300 million of capital to LVS shareholders this quarter through a stock repurchase program, which I believe completed the previously authorized US$2 billion.