Sands China Ltd. has reported its financial results for the second quarter 2023. It announced a remarkable increase in net revenue for the second quarter of 2023, with the figure reaching US$1.62 billion (MOP13.03 billion), compared to US$368 million (MOP 2.96 billion) recorded in the same period last year.
Net income for the period amounted to US$187 million (MOP 1.5 billion), reversing the net loss of US$422 million (MOP 3.4 billion) incurred in the second quarter of 2022.
Capital expenditure during the second quarter reached US$196 million, including construction, development, and maintenance activities of US$42 million (MOP 337.5 million) in Macau.
Robert G. Goldstein, chairman and CEO of the parent company Las Vegas Sands (LVS), said: “We remain enthusiastic about the opportunity to welcome more guests back to our properties throughout the remainder of 2023 and in the years ahead.”
He added that “In Macau, we were pleased to see the ongoing recovery now underway in all gaming and non-gaming segments progress during the quarter. We remain deeply enthusiastic about the opportunity to continue our investments to enhance Macau’s tourism appeal to travellers from throughout the region, including to foreign visitors to Macau.”
Sands Corp. is a leading developer and operator of convention-based Integrated Resorts. Its properties include The Venetian Macau, The Parisian Macao, The Plaza Macau & Four Seasons Hotel Macau, The Londoner Macau, Sands Macau and the iconic Marina Bay Sands in Singapore.
The Venetian Macau is one of six gaming operators in Macau. The gaming operators will each provide a sponsorship of MOP20 million (US$2.49 million) for the forthcoming Macau Grand Prix in efforts to diversify tourism by attracting a larger international audience and engage in non-gaming related endeavours.
SiGMA Asia is in Manila
Join us from the SiGMA Asia conference in Manila taking place from the 19th to the 22nd of July.
