Sands China posts net revenue of US$1.75bn for Q2

Net revenue was up 8 per cent in year-on-year terms.

Macau.- Sands China has shared its financial results for the second quarter of the year. The company posted net revenue of US$1.75bn, down 3.3 per cent from the US$1.80bn posted in the previous quarter but up 8 per cent in year-on-year terms.

Net income was US$246m, up 31.6 per cent year-on-year but down by 17.2 per cent versus Q1. The group’s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) was S$561m, compared to an adjusted property EBITDA of US$541m for the second quarter of 2023.

The Venetian Macao generated net revenue of US$686m. Casino revenue was US$556m, compared to US$523m in the second quarter of 2023. The Venetian Macao’s adjusted property EBITDA was US$262m. The Londoner Macao generated net revenue of US$444m, while casino revenue reached US$318m. Adjusted property EBITDA was US$103m. 

The Parisian Macao generated net revenue of US$265m. Casino revenue was US$207m, compared to US$183m in the second quarter of 2023. The casino venue’s adjusted property EBITDA was US$83m. The Plaza Macao posted net revenue of US$250m. Casino revenue was US$178m, compared to US$150m in the second quarter of 2023. The casino venue’s adjusted property EBITDA was US$100m.

The Sands Macao posted net revenue of US$79m. Casino revenue was US$70m, compared to US$76m in the second quarter of 2023. The casino venue’s adjusted property EBITDA was US$10m.

Robert G. Goldstein, Sands China CEO and chairman said: “In Macao, the ongoing recovery continued during the quarter, although visitation to the market remains well below the levels reached before 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 centre of business and leisure tourism positions as well as the recovery in travel and tourism spending progress.”