Las Vegas Sands Corp.

Good day, ladies and gentlemen, and welcome to the SANS first quarter 2024 earnings call. At this time, all participants have been placed on a listen-only mode. We will open the floor for your questions and comments following the presentation. It is now my pleasure to turn the floor over to Mr. Daniel Briggs, Senior Vice President of Investor Relations at SANS. Sir, the floor is yours.

Thank you, Paul. Joining the call today are Rob Goldstein, our Chairman and CEO, Patrick Dumont, our President and COO, Dr. Wilfred Wong, Executive Vice Chairman of SANS China, and Grant Chung. CEO and President of SanchChina, and EVP of Asia Operations. Today's conference call will contain forward-looking statements. We will be making these statements under the safe harbor provision of federal securities laws. The company's actual results may differ materially from the results reflected in those forward-looking statements. In addition, we'll discuss non-GAAP measures. Reconciliations for the most comparable GAAP financial measure are included in our press release. We have posted an earnings presentation on our website. We will refer to that presentation during the call. Finally, for the Q&A session, we ask those with interest to please pose one question and one follow-up so we might allow everyone with interest the opportunity to participate. This presentation is being recorded. I'll now turn the call over to Rob.

Thanks, Dan, and thanks for joining us today. The Macau market continues to grow as it has for each of the past five quarters. Since the reopening in early 2023, the annual run rate of the market has grown every quarter from $17 billion in Q1 of last year to $22 billion, then $24 billion, then $26 billion, now reaching $28 billion in annualized gain revenue. We remain completely confident in the future growth of the Macau market. I've said in the past that the Macau market will grow to $30 billion, then $35 billion, then $40 billion and beyond in the years ahead. I remain steadfast in that belief. We remain equally confident in our business strategy to invest in both the quality and scale of our market-leading assets in Macau. Our capital investment programs ensure that we will continue to be the market leader in years ahead. Our investments position us to grow faster than the market over the long term to grow our share of EBITDA on the market and to generate industry-leading returns on investment capital. Turning to our current financial results on the cap, we delivered a solid result for the quarter despite the disruption of our ongoing capital investment programs. SEL continues to lead the market in gaining and non-gaining revenue and most importantly, in the market share of Eventop. Because of our market-leading investments, we will capture high-value, high-margin tourism over the long run. We have a unique competitive position in terms of scale, quality, and diversity of product offerings. Upon completion of the second phase of the London and our Code Tyrene redevelopment program, our product advantage will be more substantial than ever. Turning to Singapore, we delivered a record quarter. We believe it's a record for the industry. The team has done an extraordinary job, and this is what happens when a superior product is located in the proper market. Our financial results in Singapore reflect the impact of our capital investment programs and our service capabilities. The appeal of Singapore as its tourism destination and the robust entertainment and lifestyle event calendar also contribute to the growth at MDS. As we complete the balance of our investment programs, there will be a lot more runway for growth in the future. Thanks for joining us today. I'll turn it over to Patrick for more detail.