Sands China posts 9 pct profit in 19H1

Friday 9th of August 2019

Macau casino operator Sands China posted a nine percent increase in profit for the first half of 2019, driven by increases in mass gaming volume and ramp-up at The Parisian.

Net revenues reached US$4.5 billion in the six months ended June 30, 2019, increasing 4.8 percent.

Sands China said net casino revenues increased six percent during the period, reaching US$3.6 billion. The increase was primarily attributable to an increase of US$131 million at The Parisian Macao, driven by increases in volume in mass gaming as well as a higher win percentage in all gaming offerings.

“We continued to enjoy market-leading visitation in Macao and are focused on driving the high-margin mass-market gaming business while providing luxury amenities and high service levels to our VIP and premium players,” said the company in a filing to the stock exchange.

Looking ahead, Sands said it will continue to deliver on its refurbishment program at Venetian Macao, which started in 2018. The program will see the VIP and premium mass gaming areas revamped. Construction is due to be completed in phases throughout 2020.

The company is also continuing its work on the renovation, expansion, and rebranding of Sands Cotai Central into a new destination integrated resort, The Londoner Macao.

The expansion will see new attractions and features from London added to the property, abd an expanded retail offering. The expansion will also add approximately 370 luxury suites within the tower also occupied by the St. Regis hotel.

“Design work is nearing completion and construction is being initiated and will be phased to minimize disruption during the property’s peak periods. We expect the additional suites within the tower also occupied by the St. Regis hotel to be completed in late 2020 and The Londoner Macao project to be completed in phases throughout 2020 and 2021,” it added.