LAS VEGAS: Las Vegas Sands Corp posted a loss for the first quarter compared to a year-ago profit, as the coronavirus pandemic slammed gaming revenue at the casino operator.

The gambling industry, which thrives on air travel and large groups of people in close proximity, is one of the hardest hit as the world goes into lockdown in its battle against the pandemic.

" The impact of the COVID-19 pandemic on our business has been unprecedented, and I have never seen anything like it in my over seventy years in business," Chief Executive Officer Sheldon Adelson said in a statement.

Revenue from the company' s main casino business plunged 55.8 per cent  to US$1.18 billion, with declines across all of its businesses, including rooms as well as food and beverage.

In March, gambling revenue fell 80 per cent  in Macau, the world' s biggest casino hub that accounts for more than 60 per cent  of the company' s revenue.

The S& P 500 casinos and gaming index has lost 49 per cent  this year, compared to the 13.4 per cent  dip in the S& P 500.

Net loss attributable to Las Vegas Sands was US$1 million in the quarter ended Mar  31, compared to a profit of US$582 million a year ago.

Net revenue plunged 51.1 per cent  to US$1.78 billion.