Robert G. Goldstein, CEO of Las Vegas Sands, said he was “deeply enthusiastic” about opportunities for growth in the years ahead.
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JP Morgan says the third-quarter result would have been even better without the stormy weather that swept Macao in September.
The gaming operator’s net revenue more than doubled in the first half of 2023, year-on-year, resulting in losses after tax of HK$1.4 billion for the period.
In a regulatory filing, the integrated resort operator said tourism in Macao showed ‘a robust recovery’ in 2023, after the ‘severely inhibited travel’ of the pandemic years.
In reporting its results, the company drew attention to the ongoing recovery of Macao’s gaming sector and ‘future opportunities for us to invest and grow.’
Chairman Lui Che Woo said the concessionaire’s “balance sheet continues to be exceptionally liquid and healthy.”
The concessionaire attributed the performance to the recovery in local tourism in the wake of the pandemic.
Daisy Ho, chair of SJM, says ‘After several years facing challenges caused by the pandemic, SJM has turned an important corner’.
CEO Robert Goldstein remains ‘deeply confident’ in future of Macao and considers it an ideal market for additional capital investment.
