Sands China posts net revenue of US$1.62bn for Q2

Net revenue was up 316.4 per cent in year-on-year terms.

Macau.- Sands China has shared its financial results for the second quarter of the year 2023. Net revenue was up 316.4 per cent year-on-year to US$1.62bn while net income for the period amounted to US$187m, compared to a net loss of US$422m in the second quarter of 2022.

The group’s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) for the second quarter was US$541m, compared to an EBITDA loss of US$110m for the second quarter of 2022. Capital expenditures totalled US$196m, including US$42m in Macau activities.

The Venetian Macao posted net revenues of US$653m. Casino revenue was US$523m, compared to US$91m in the second quarter of 2022. The Venetian Macao’s adjusted property EBITDA was US$252m.

The Londoner Macao reported net revenue of US$402m while casino revenue reached US$281m. Adjusted property EBITDA was US$103m.

Robert G. Goldstein, Sands China CEO and chairman said: “We remain deeply enthusiastic about the opportunity to continue our investments to enhance Macao’s tourism appeal to travellers from throughout the region, including to foreign visitors to Macao.

“Our decades-long commitment to making investments that enhance the business and leisure tourism appeal of Macao and support its development as a world centre of business and leisure tourism positions us exceedingly well to deliver strong growth as visitation to the market increases and the recovery in travel and tourism spending proceeds.”