Sands China net revenue declines in Q4

Sands China net revenue declines in Q4

Net revenue was down 5 per cent in year-on-year terms.

Macau.- Sands China has shared its financial results for the fourth quarter of the year 2024. Net revenue was US$1.77bn, down 5 per cent year-on-year and flat in quarter-on-quarter terms.

Net income was US$277m, down 3.9 per cent year-on-year. The group’s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) was down 2.7 per cent compared to the fourth quarter of 2023 at US$571m. This was attributed to a low hold on rolling play.

The Venetian Macao generated net revenue of US$682m. Casino revenue was US$534m, compared to US$607m a year before. The Venetian Macao’s adjusted property EBITDA was US$250m. The venue had a hotel occupancy of 99.5 per cent.

The Londoner Macao generated net revenue of US$518m. Casino revenue was US$387m, compared to US$433m in the fourth quarter of 2023. The Parisian Macao generated net revenue of US$228m and casino revenue of US$171m. The adjusted property EBITDA was US$69m and hotel occupancy was 99.5 per cent.

The Plaza Macao posted net revenue of US$223m, up 16.1 per cent in year-on-year terms. Casino revenue was US$142m, up 33.1 per cent compared to the fourth quarter of 2023. The casino venue’s adjusted property EBITDA was US$83m. Hotel occupancy was 97.3 per cent. Sands Macao posted net revenue of US$86m, up 6.1 per cent year-on-year. Casino revenue was US$78m, EBITDA US$20m and hotel occupancy was 99.1 per cent.

Robert G. Goldstein, Sands China CEO and chairman said: “In Macau, the ongoing recovery continued during the quarter, although spend per visitor in the market remains below the levels reached prior to the pandemic. Our decades-long commitment to making investments that enhance the business and leisure tourism appeal of Macao and support its development as a world center of business and leisure tourism positions us well as the recovery in travel and tourism spending progresses.”

For the full year 2024, the casino operator posted a total net revenue of US$7.08bn, up 8.4 per cent in year-on-year terms. Net income was US$1.05bn, compared to a net income of US$696bn in 2023. Adjusted property EBITDA was US$2.33bn.

See also: Sands China introduces Alipay Tap!

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