Total net revenues for Sands China Limited increased 42 percent to US$1.80 billion for the first quarter of 2024, compared to the first quarter of 2023, the company said in a regulatory filing this morning.
Net income was US$297 million for the first quarter of 2024, compared to a net loss of US$10 million in the same period of 2023.
Sands China’s adjusted property earnings before interest, taxes, depreciation, and amortisation (EBITDA) were US$610 million for the first quarter of 2024, compared to US$398 million for the first quarter last year.
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Capital expenditures during the first quarter totaled US$196 million, including construction, development and maintenance activities of US$90 million in Macao, the company said.
Robert G. Goldstein, chairman and chief executive officer of Las Vegas Sands, said, “We were pleased with our financial and operating results for the quarter, which reflect strong growth in both Macao and Singapore. We remain deeply enthusiastic about our opportunities to deliver industry-leading growth in both markets in the years ahead, as we execute our substantial capital investment programs in both Macao and Singapore.”
He added that: “Our decades-long commitment to making investments that enhance the business and leisure tourism appeal of Macao, and support its development as a world centre of business and leisure tourism, positions us well as the recovery in travel and tourism spending progresses.”
