Analysts at Sanford C. Bernstein have predicted Sands China will account for nearly 27 per cent of Macau\u2019s GGR in the next few years.<\/p>\n\n\n\n\n\n\n\n
Macau.- A report by\u00a0Sanford C. Bernstein Ltd<\/strong> predicts that Macau casino operator\u00a0Sands China <\/strong>will maintain its leading market share of gross gaming revenue (GGR) in Macau at approximately 27 per cent in the next few years.\u00a0<\/p>\n\n\n\n According to analysts, this is mainly due to the increase in business including\u00a0the Londoner Macau Resort<\/a>\u00a0in Cotai and the availability of luxury accommodations at Four Seasons luxury suites.<\/p>\n\n\n\n Phase I<\/a>\u00a0of the operator\u2019s revamped and renamed Cotai casino resort\u00a0was inaugurated in February\u00a0<\/strong>with the resort\u2019s Crystal Palace, inspired by the concept of the original Victorian structure at London\u2019s Great Exhibition of 1851.<\/p>\n\n\n\n Bernstein also believes Sands China will \u201ccontinue to lead the non-gaming business in Macau.”<\/strong><\/p>\n\n\n\n It said: \u201cWe forecast Sands China to deliver 103 per cent of 2019 revenue in 2023 and 124 per cent of 2019 revenue in 2025, driven by Macau recovery, the leading mass market share, and the redevelopment of the Londoner and the Grand Suites at Four Seasons.”<\/p>\n\n\n\n For the second quarter, Sands China\u2019s contribution<\/a> was US$782m, 24.9 per cent of the total. The casino operator and Galaxy Entertainment Group together accounted for 45.3 per cent of Macau\u2019s GGR.<\/p>\n\n\n\n Mass-market results<\/strong> were led by Sands China at 25.1 per cent of the total US$2.3bn in slots and tables revenue. As for VIP results, Galaxy Entertainment took 28.1 per cent of the market share with US$219m<\/strong>, Sands 22.5 per cent with US$175m.<\/p>\n\n\n\n Sands China<\/a>‘s results for the third quarter of the year revealed a higher\u00a0net loss of US$423m.<\/strong>\u00a0Despite an increase from\u00a0the previous quarter<\/a>, the figure is an improvement on the US$562m loss recorded a year ago.<\/p>\n\n\n\n The casino operator\u2019s revenue for the third quarter declined 28 per cent<\/strong> sequentially to US$611m. However, it was still a 265.9 per cent improvement when compared to the US$167m recorded in 2020. Adjusted property EBITDA during the third quarter was US$32m.<\/p>\n\n\n\n Robert Goldstein, Las Vegas Sands\u2019 chairman and chief executive<\/strong>, said: \u201cWe remain confident in the eventual recovery in travel and tourism spending across our markets.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":" Analysts at Sanford C. Bernstein have predicted Sands China will account for nearly 27 per cent of Macau\u2019s GGR in the next few years.<\/p>\n","protected":false},"author":176,"featured_media":20202,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Sanford C. Bernstein analysts predict Sands China will maintain approximately 27% of Macau's GGR, driven by its non-gaming assets and redevelopment projects like The Londoner Macau. Despite a Q3 net loss of US$423m, the operator shows significant year-over-year revenue improvement and confidence in market recovery, leading the mass-market segment.","focusai_entities":"Sanford C. Bernstein, Sands China, Galaxy Entertainment Group, Robert Goldstein, Las Vegas Sands","focusai_location":"Macau, Cotai","focusai_target_profile":"ceo_executive (0.9), operator_casino (0.9), investor_analyst (1.0), journalist_researcher (0.8)","focusai_suggestions":[{"label":"Sands China Profitability Timeline?","query":"Given Sands China's Q3 net loss, what is the projected timeline for achieving positive net income, considering the GGR recovery and non-gaming asset contributions?"},{"label":"Macau Competitive Dynamics?","query":"How might the competitive landscape in Macau, particularly with Galaxy Entertainment Group, evolve as Sands China leverages its non-gaming assets and mass-market leadership?"}],"footnotes":""},"categories":[157,16338],"tags":[23906,21680],"class_list":["post-23848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-macau-casinos","tag-sands-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/users\/176"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=23848"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23848\/revisions"}],"predecessor-version":[{"id":23876,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/23848\/revisions\/23876"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/20202"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=23848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=23848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=23848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Sands China posts US$423m net loss for Q3<\/h2>\n\n\n\n