LAS VEGAS Las Vegas Sands, owner and operator of The Venetian Casino Resort, reported results for the fourth quarter and full-year 2000. Earnings before interest, taxes, depreciation, amortization and rent (EBITDAR) for the fourth-quarter 2000 increased 35% to $49 million as compared to the fourth-quarter 1999 results of $36.4 million. EBITDAR for the full-year 2000 was $195.9 million as compared to $37.7 million for the 242 days of operation in 1999.
Total net revenue for the fourth quarter of 2000 was $149.9 million as compared to $112.5 million during the fourth quarter of 1999, while full-year 2000 net revenues totaled $589.7 million.
The Venetian generated total net revenues of $142.2 million during the fourth quarter 2000 as compared to $106 million in the fourth quarter last year. The hotels average daily room rate increased to approximately $197, as compared to $176 last year. Average occupancy was 94% during the fourth quarter of 2000 as compared to 83% during the prior years fourth quarter. (2/6/01)