Las Vegas

Shoppers walk along the Linq Promenade in Las Vegas in June.

Las Vegas Sands Corp., the world’s largest casino company, is painting a bleak picture of the U.S. gambling capital for investors, saying COVID-19 has devastated the city’s bread-and-butter convention business, with no significant recovery in sight.

“We’re in a world of hurt here,” Sands President Rob Goldstein said Wednesday on a conference call, after the company reported a 97% drop in second-quarter revenue. Sands’ two properties in Vegas, the Venetian and Palazzo, reopened June 4 and generated just $36 million in business during the quarter.

Wednesday, December 02, 2020