Sands China has reported a net loss of US$125m for August, while monthly GGR plummeted 82 per cent compared to pre-pandemic levels.<\/p>\n\n\n\n\n\n\n\n
Macau.- Casino operator Sands China has reported figures for August, with US$125m in net losses and net revenues at US$148m<\/strong>. Adjusted negative property EBITDA was US$14m<\/strong>, compared to a positive EBITDA of US$44m in July.<\/p>\n\n\n\n Monthly gross gaming revenue for August\u00a0<\/strong>was up 234 per cent year-on-year but\u00a0down 82 per cent when compared to 2019 levels<\/strong>.\u00a0Sands China said strict border restrictions\u00a0<\/strong>implemented in Macau had deeply affected the results.\u00a0<\/p>\n\n\n\n Macau\u2019s GGR<\/a> <\/strong>declined by 47.7 per cent month-on-month in August, a month that was impacted by local cases of Covid-19<\/a> and hundreds of cancelled flights. At MOP$4.44bn (US$554.5m), it was the lowest monthly GGR figure since September 2020.<\/p>\n\n\n\n Sands China said: “The Covid-19 pandemic has materially adversely affected the number of visitors to our facilities and disrupted our operations, and we expect this adverse impact to continue until the Covid-19 pandemic is contained.\u201d<\/p>\n\n\n\n As of August 31, Sands China\u2019s total liquidity is US$2.56bn, including US$556m in cash and cash equivalents<\/strong>\u00a0(excluding restricted cash and cash equivalents) and US$2bn available under the 2018 SCL Revolving Facility.\u00a0<\/p>\n\n\n\n The group plans to issue a series of senior notes\u00a0<\/strong>and use the net proceeds and cash on hand to redeem in full the outstanding principal of the 2023 notes with an interest rate of 4.600 per cent of US$1.8bn.<\/p>\n\n\n\nSands China posts US$166 in net losses for Q2<\/h2>\n\n\n\n