Las Vegas Sands Corp.(NYSE: LVS) has reported the adjusted earnings per share of 62 cents in the fourth quarter of 2016 missing the analysts’ estimates of 66 cents. Moreover, Las Vegas Sands reported the revenue growth of 7 percent to $3.08 billion in the fourth quarter of 2016, excluding the promotional allowances, while missing the analysts’ estimates of $3.11 billion in revenue. The adjusted net income attributable to LVS (a non-GAAP measure) decreased 0.6 percent to $491 million, as compared to $494 million in the corresponding period last year. Las Vegas Sands stock opened weak this morning and fell over 4.1% (As of  9:41 AM EST on January 26th, 2017; Source: Google finance). 

Macau, considered as the world’s gambling capital, accounted for the bulk of LVS’ business as the slowdown in Macau drove down profit and revenue for the year. In addition, the decrease in profit was principally due to the lower net revenues, as well as non-recurring legal costs in 2016 and higher pre-opening expenses, most of which relate to The Parisian Macao. This has also decreased the operating profit.

After the fourth quarter’s end, Las Vegas Sands has signed a settlement agreement with the Justice Department under which it paid $6.96 million and entered into a non-prosecution agreement to resolve a criminal matter over improper financial dealings in China. Last year, LVS has paid $9 million and hired an independent monitor to resolve a related civil matter with the Securities and Exchange Commission.

Additionally, the capital expenditures during the fourth quarter 2016 is of $295 million, that includes the construction, development and maintenance activities of $215 million in Macao (principally for The Parisian Macao), $40 million in Las Vegas, $33 million at Marina Bay Sands and $7 million at Sands Bethlehem.

Las Vegas Sands has paid a recurring quarterly dividend of $0.72 per common share during the fourth quarter 2016. Further LVS has announced the next recurring quarterly dividend of $0.73 per common share will be paid on March 31st, 2017, to LVS shareholders of record on March 23rd, 2017. Overall, LVS has increased the company’s recurring common stock dividend for the CY 2017 to $2.92 per share.

For the year 2016, the profit fell 15 percent to $1.67 billion and the revenue fell 2 percent to $11.41 billion.

Las Vegas Sands stock has fallen over 6.4% in the last three months (Source: Google Finance).