Sands China president confident about new gaming licence in Macau
Wilfred Wong Ying Wai, Sands China Ltd’s president, said he is very confident about winning a concession for the next ten years.
Macau.- There are only two days to go before the closing of the deadline for submissions for Macau’s retender of its six gaming concessions, and nobody’s expecting any surprises. Sands China president Wilfred Wong Ying Wai has reaffirmed that Sands has little doubt that it will get a new concession.
Speaking at the opening ceremony for the 2022 Sands Shopping Carnival, he said: “We are still very confident about our concession being granted for the next ten years.”
Despite noting that “a lot really depends on the competition and government decision”, Wong said Sands China looks forward to continuing to contribute to the city’s development in the years to come.
He told Macau News Agency: “We are confident and we would like to continue growing in Macau.”
Sands Shopping Carnival 2022 is a three-day family-friendly event featuring over 530 booths, a kids zone, a gourmet area, food preparation and decorating activities for children, a dance competition, and a strong presence of local small and medium-sized businesses (SMEs).
The event is mainly aimed at the local public and does not represent a significant change in terms of the number of visits to the city. However, Sands China’s CEO referred to the upcoming October Golden Week, where the arrival of tourists is expected, and said that if the Covid-19 situation stabilizes in mainland China, several visitors will probably arrive in the city.
Macau casino licence retender
To submit their bids for new concessions companies were asked to provide eligibility documents and pay a minimum deposit of MOP10m (US$1.2m). The commission tasked to oversee Macau’s gaming concession retender said bids will be evaluated in accordance with the following factors:
- The company’s proposal to expand tourist markets from foreign countries;
- Its experience in operating casinos or other relevant businesses;
- The benefits of their gaming and non-gaming investments;
- The company’s plans to manage its casino operations;
- Its monitoring and prevention of illegal casino activities recommendations;
- Its commitment to corporate social responsibility activities.
See also: Macau tourism sector hoping for rebound in October Golden week
Sands China posts net revenue of US$915m for H1
Sands China posted a loss of HK$5.96bn (US$760m) for the first half of the year. That compares to a loss of HK$2.96bn (US$381m) in the first half of 2021.
The company reported an adjusted property EBITDA loss of HK$94m (US$120m), compared to an adjusted property EBITDA of HK$1.82bn (US$234m) in the first half of 2021. Net revenue for the group decreased by 43.5 per cent to HK$7.18bn (US$915m).
The company said that all of its operating segments and business categories for the six months ending June 30 were impacted by the Covid-19 pandemic. It noted that visitation to Macau has remained substantially below pre-Covid-19 levels as a result of government policies limiting or discouraging travel.
