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This is how much income Sands China generated in 2023

Robert G. Goldstein, CEO of parent company Las Vegas Sands, said he was ‘extremely pleased’ with the latest financial and operating results.

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Sands China Limited’s income for 2023 was US$696 million under US generally accepted accounting principles (GAAP), the company said this morning in a regulatory filing. The sum compares to a net loss of US$1.58 billion in 2022.

Last year’s total net revenues increased 307 percent to US$6.53 billion, compared to 2022, also on a US GAAP basis. 

Net income was US$288 million for the fourth quarter of 2023, compared to a net loss of US$348 million in the fourth quarter of 2022, the company said. Total net revenues increased 323 percent to US$1.86 billion for the fourth quarter of 2023, compared to the fourth quarter of 2022. 

The company’s adjusted property earnings before interest, taxes, depreciation and amortization (EBITDA) was US$654 million for the fourth quarter of 2023, compared to an adjusted property EBITDA loss of US$51 million for the fourth quarter of 2022. 

[See more: Sands China announces Grant Chum as new CEO and president]

For the full year, Sands China’s adjusted property EBITDA was US$2.22 billion, compared to an adjusted property EBITDA loss of US$324 million for 2022.

Capital expenditures made by parent company Las Vegas Sands during the fourth quarter totalled US$325 million, including construction, development and maintenance activities totalling US$109 million in Macao.

Mr. Robert G. Goldstein, chairman and chief executive officer of Las Vegas Sands, said: “We were extremely pleased with our financial and operating results for the quarter, which reflect the ongoing improvement in the operating environment in both Macao and Singapore.”

He added: “In Macao, the ongoing recovery across all segments continued during the quarter. 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 ongoing recovery in travel and tourism spend progresses.”

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