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Sands China made a profit of US$175 million in the first half of the year

The concessionaire attributed the performance to the recovery in local tourism in the wake of the pandemic.

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The concessionaire attributed the performance to the recovery in local tourism in the wake of the pandemic.

ARTICLE BY

PUBLISHED

UPDATED: 21 Dec 2023, 11:28 pm

Gaming operator Sands China recorded total net revenues of US$2.9 billion in the first six months of this year, an increase of more than 216 percent, compared to the US$915 million generated in the same period last year.

In a regulatory filing, it added that adjusted group-wide property earnings before interest, taxes, depreciation and amortisation (EBITDA) were US$939 million in the first half of 2023, compared to a loss of US$120 million in the first half of 2022.

Profit for the group was US$175 million in the first half, compared to a loss of US$760 million in the same period of 2022.

Sands China’s statement highlighted the lifting of pandemic-related travel restrictions in December 2022 and January 2023. “Since then, visitation to our integrated resorts and operations have improved,” it said.

[See more: Wynn Macau is back to making a profit]

Casinos generated US$2.16 billion of total revenues for the period, an increase of more than 280 percent compared to US$568 million for the six months ended June 30, 2022. 

The star performer was the Venetian Macao, which generated US$969 million in net casino revenue. The Londoner Macao contributed US$479 million.

The concessionaire added that room revenues for the first half of this year were US$338 million, an increase of almost 245 percent, compared to US$98 million for the six months ended June 30, 2022.

 

UPDATED: 21 Dec 2023, 11:28 pm

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