Sands China settles $1 Bn loan to Las Vegas Sands three years early
Macau-based gaming operator Sands China has repaid a $1 billion(€930 million) loan to its parent company, Las Vegas Sands, three years ahead of schedule. The company announced the repayment in a filing with the Hong Kong Stock Exchange. The loan, originally issued in July 2022, was due to be repaid by 11 July 2028, but Sands China chose to settle the amount in full on 27 March 2025.
The loan agreement allowed Sands China to repay the amount at any time without penalty. The company’s board expressed satisfaction with the early repayment, viewing it as a sign of financial strength and stability.
Sands China issued a memo alongside the announcement, detailing the terms of the loan and the repayment. The loan was a subordinated unsecured term loan extended by Las Vegas Sands in July 2022.
The company stated that the decision to clear the debt ahead of schedule was based on its solid financial standing and strong cash flow.
Stable finances drive early settlement
Sands China’s ability to repay the loan early can be attributed to its financial recovery over the past three years. The company faced significant challenges in 2022 due to the COVID-19 pandemic, which led to severe travel restrictions in Macau and a decline in visitor numbers.
However, in 2023, as Macau lifted travel restrictions, Sands China began to experience a steady financial recovery. The rebound in tourism helped drive an increase in revenues compared to the previous year. The company’s business operations, including casino, hotel, retail, and food and beverage sectors, all saw improvements during this period.
By 2024, Sands China had fully regained its financial footing. The company reported a total net revenue of $7.08 billion (€6.6 billion) for the year, reflecting an 8.4 percent annual increase. Net profits surged to $1.05 billion (€980 million), marking a 51 percent rise from the previous year.
Casino revenues alone contributed $5.35 billion (€5 billion), representing a 10.4 percent growth.
Committed to Macau’s future
The company continues to invest heavily in Macau, with Las Vegas Sands Chairman Robert Goldstein confirming that the group has committed approximately $17 billion (€15.8 billion) to diversifying Macau’s economy and expanding its business and leisure tourism sector.
Despite these positive developments, Goldstein is set to step down as Chairman and CEO of Las Vegas Sands on 1 March 2026, but will remain in an advisory role until March 2028. His departure will mark the end of an era for the company, though its strong financial position suggests continued stability and growth in the years ahead.
