Las Vegas Sands Corp.

Good day, ladies and gentlemen, and welcome to the SANS second quarter 2024 earnings call. At this time, all participants have been placed on a listen-only mode, but 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, Matthew. Joining me to call today are Rob Goldstein, Patrick Dumont, Dr. Wilfred Wong, and Grant Chump. Today's conference call will contain forward-looking statements. We'll be making those statements under the safe harbor provision of federal securities laws. The company's actual results may differ from the results reflected in those forward-looking statements. In addition, we'll discuss non-GAAP measures. Reconciliations to the most comparable GAAP measure are included in our press release. We've also posted an earnings presentation on our website. We will refer to that presentation during the call. Finally, for the Q&A, we ask those with interest to please post one question and one follow-up. so we might allow everyone within the opportunity to participate. The 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, total gain in revenues for the market grew 24% in the second quarter of 2024 when compared to the second quarter of 2023. In addition, mass gain in revenue grew 29% compared to one year ago. We remain confident in future growth in the Macau market. I believe the Macau market gross gain revenue will exceed $30 billion next year and continue to grow year after year. Our business strategy is predicated on investing in high-quality assets that also have scale. Macau is and always has been a deeply competitive market. Our strategic approach has enabled us to compete very effectively. We have designed our capital investment programs to ensure that we will continue to be the market leader in the years ahead. Our approach allows us to grow fast from the long term and large share of EBITDA and generate industry-leading returns on invested capital. Turning to our results in the Cal, we delivered solid EBITDA to the quarter despite material disruption at Belonger. SEL continues to lead the market in gaming and non-gaming revenue and in market share of EBITDA. We will capture high-value, high-margin tourism over the long term. We have a unique competitive position in terms of scale, quality, and diversity of product offerings. Upon completion of the second phase of the Londoner and Ricotta Arena, our product managed to be more pronounced than ever. Another strong quarter in Singapore despite ongoing disruptions in construction. The financial results of Green Bay stands reflect the positive impact of our capital investment program and the growth of high-value tourism. The growing appeal of Singapore as a destination is enhanced by the robust entertainment and lifestyle of that calendar. As we complete the balance of our investment programs, there will be considerable runway for growth. Thanks for joining our call. I'll turn it over to Patrick now, and then we'll go to Q&A. Patrick?