Las Vegas Sands Corp.

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

Thanks so much. Joining the call today are Rob Goldstein, our Chairman and CEO, Patrick Dumont, our President and COO, Dr. Wilford Wong, Executive Vice Chairman of SANS China and Grant Chung, CEO and President of SANS China and EVP of Las Vegas SANS Asia Operations. Today's conference call will contain forward-looking statements. We will be making those statements under the safe harbor provision of federal security laws. The company's actual results may differ materially from the results reflected in those forward-looking statements. In addition, we will discuss number gap measures. Reconciliations to 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. The presentation is being recorded. I'll now turn the call over to Rob.

Thanks, Dan. Thanks for joining us today. The Macau market continues to grow. Total gain in revenue for the market grew 13% in the third quarter of 2024 when compared to the third quarter of 2023. Mass gain in revenue grew 14% in the quarter compared to one year ago. We believe the Chinese economy will grow and flourish in the future. It remains steadfast and the Macau market will grow along with it. I believe that the Macau market growth gain in revenues will exceed $30 billion in 2025 and grow from there. The scale and quality of the assets we have built are second to none. We believe our assets position us to grow faster than the market as growth expands beyond the premium customer's setting. Our business strategy is predicated on investing in high-quality assets that also have scale. We've designed our capital investment programs to ensure that we will continue to be the market leader in the years ahead. We believe our approach will enable us to grow faster in the long term, grow our share of EBITDA in the Macau market, and generate industry-leading returns on invested capital. Turning to our results in Macau, we delivered solid EBITDA for the quarter despite material disruption at the Londoner, which peaked during the third quarter. We opened the Londoner Grand Casino in the last week of September. We also opened the first 300 Londoner Grand Suites. We will introduce more Londoner Suites throughout the next three quarters the total of 1,300 London suites and rooms in service by Lunar New Year 2025, with a full complement of 1,500 suites and 905 rooms in service by Gold Week 2025. SEL continues to lead the market in gaming and non-gaming revenue and in-market share of EBITDA. Our objective is to capture high-value, high-margin tourism over the long term. We have a unique competitive advantage in terms of scale, quality and diversity of product offerings. Upon completion of the second phase for London in 2025, our product and management more pronounced than ever. We delivered another strong quarter in Singapore, despite poor whole percentage. The results in rain based stands reflect the positive impact of our capital investment program and the growth of high value in course. The growing appeal of Singapore as a destination is enhanced by the robust entertainment and lifestyle event calendar. As we complete the balance of our it will be considered a runway for growth. Thank you for joining us. Let me turn it over to Patrick before we go to Q&A.