Sands China annual profit climbs to HK$15.8b, casino revenues rise

Friday 21st February 2020

Sands China (1928) reported today profit for the year ended December 31, increased by 8.4 percent to US$2.03 billion (HK$15.83 billion), from US$1.87 billion (HK$14.68 billion) for 2018.

Adjusted property EBITDA for the year increased by 3.7 percent to US$3.19 billion (HK$24.87 billion), compared with US$3.08 billion (HK$24.11 billion) for the year ended December 31, 2018.

Net revenues were US$8.81 billion (HK$68.60 billion) an increase of 1.7 percent from US$8.67 billion (HK$67.85 billion) for 2018.

Sheldon G. Adelson, chairman and chief executive, said Sands China will continue to implement the Cotai Strip development initiatives "by leveraging our convention-based integrated resort business model

and world-class amenities to contribute to Macao's diversification. These efforts drive Sands China's market-leading revenue and cash flow generation.''

Casino revenues were US$7.02 billion, an increase of 3 percent, from US$6.82 billion for 2018.

The increase was mainly attributed to an increase of US$148 million at The Plaza Macao driven by higher win percentage in VIP gambling as well as higher business volume in VIP and mass gambing, and an increase of US$111 million at The Parisian Macao driven by higher win percentage and business volume in mass gaming.

Source

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