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Sands China 4Q net profit up 49.1% to US$519 million

Sands China said today net income in the fourth quarter of 2017 rose 49.1% year-on-year to US$519 million as the recovery in the Macau market accelerated.

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UPDATED: 22 Dec 2023, 5:45 am

Sands China said today net income in the fourth quarter of 2017 rose 49.1% year-on-year to US$519 million as the recovery in the Macau market accelerated.

The integrated resort developer and casino operator, an unit of U.S.-listed Las Vegas Sands, reported net income of US$348 million in the same period in 2016.

Total net revenue for the quarter rose 12.9% on-year to US$2.10 billion from US$1.86 billion, the company said in a filing to the exchange.

Sands China operates The Venetian Macao, Sands Cotai Central, The Plaza Macao, Sands Macao and The Parisian Macao.

The company attributed the improvement to strong gaming performance, higher hotel occupancy and retail mall revenues, among others.

Sheldon Anderson, chairman and chief executive of Las Vegas Sands, said in the release that the Macau operations had their best quarter since the third quarter of 2014.

According to Nikkei Markets, for the full year, net income was up 31.1% on-year to US$1.60 billion on revenue of US$7.74 billion that rose 15.7%. In 2016, its profit was US$1.22 billion on revenue of US$6.69 billion.

UPDATED: 22 Dec 2023, 5:45 am

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