Tag Archives: Sands China
China – Sands officially submits tender for casino licence renewal in Macau
Sands China has now officially submitted a tender to the Macau government for the award of a new 10-year gaming concession for the operation of casino games of chance in Macao, which, if granted by the Macao government, is expected to commence on January 1, 2023. Las Vegas Sands China’s Chairman and Chief Executive Officer…
China – Sands revenue dips below $1bn as losses nearly double
Sands has reported a $760m loss in the first half of 2022, nearly double the $381m figure recorded for the same period last year. Adjusted property EBITDA loss for the Group was $120m, compared to adjusted property EBITDA of $234m in the first half of 2021. Total net revenues were $915m, a decrease of 43.5…
China – Sands to surge past 2019 EBITDA levels by next year
Brokerage firm Sanford C. Bernstein believes Macau operator Sands China will surpass its 2019 EBITDA of US$3.3bn next year with EBITDA reaching US$5bn by 2025. Bernstein analyst Vitaly Umansky said: “Sands China is the largest gaming investor in Macau, having invested US$14.5bn over the last 20 years and holding over 30 per cent market share. With…
China – Sands China reports a loss of US$125m in August but revenues up 179.2 per cent
Sands China generated net revenues of US$265m and US$148m in July and August 2021 compared to US$43m and US$53m in July and August, 2020, respectively, representing an increase of 516.3 per cent and 179.2 per cent, respectively. A company spokesperson said: “We had an operating loss of US$25m and US$83m and a net loss of…
China – Sands not concerned over Macau licence renewal speculation
With Macau’s casino licences up for renewal, executives at Sands China do not believe China’s Central Government in Beijing will use it as an opportunity to get mainland Chinese companies involved with casino operations. Wilfred Wong, President and Executive Director of Sands China, said: “We have not picked up any nor have we been consulted…
China – Macau licence renewal could prompt Sands China share sale
Smartkarma’s Howard J Klein believes the renewal process for Macau’s casino licences in 2022 could see the Adelson family to sell some of its shareholding in Sands China. “An orderly disposition of the huge chunk of assets would fall within the shadow timing of the Macau re-concession talks scheduled to begin in 2022, or 2023,”…
China – Sands China releases more details about The Londoner’s launch
Londoner Macao, Sands China’s bold British-themed reimagining of the Sands Cotai Central integrated resort, will launch its first phase, offering the best of British history and culture alongside a traditional yet contemporary hospitality experience. Representing an investment of approximately $2bn, The Londoner Macao will open progressively throughout 2021. With two new all-suite hotels, guests now…
China – First phase of Sands China’s US$2bn The Londoner Macao to debut in September
Las Vegas Sands has confirmed that the coronavirus pandemic has done little to slow the opening schedule for its The Londoner Macao, the rebirth of the company’s existing Sands Cotai Central Cotai Strip integrated resort, which will open progressively from 2020 to 2021. The first phase of Sands China’s US$2bn The Londoner Macao will be…
China – Macau casinos costing Sands China US$200m a month to stay open
Sands China’s Macau casinos, The Venetian Macao, The Parisian Macao, Sands Macao and The Plaza Macao, have been costing the company US$200m a month to stay open at a time when revenues are next to nothing due to the COVID-19 pandemic and related border restrictions. Those costs are split into operating costs of US$110m, US$65m…
