{"id":26712,"date":"2022-01-28T06:57:34","date_gmt":"2022-01-28T09:57:34","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=26712"},"modified":"2026-04-23T11:50:29","modified_gmt":"2026-04-23T14:50:29","slug":"sands-china-ceo-confident-about-macau-despite-stricter-gaming-law","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sands-china-ceo-confident-about-macau-despite-stricter-gaming-law","title":{"rendered":"Sands China CEO confident about Macau despite stricter gaming law"},"content":{"rendered":"\n<p>Rob Goldstein, Sands China CEO and chairman, has said he is confident about Macau&#8217;s future despite the ongoing Covid-19 pandemic and the gaming law amendment bill.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.- At the presentation of the financial results for the last quarter of 2021,\u00a0<strong>Robert Goldstein<\/strong>, Las Vegas Sands\u2019 chairman and chief executive, said he remains confident about Macau&#8217;s future. He said <strong>Sands China remains \u201cbullish\u201d on the Macau market\u00a0<\/strong>despite the Covid-19 pandemic and the city&#8217;s new gaming bill.<\/p>\n\n\n\n<p><strong>Sands China<\/strong>\u00a0has reported\u00a0<a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/sands-china-posts-us245m-net-loss-for-q4\">a net loss of US$245m<\/a>\u00a0for the last quarter of the year 2021.\u00a0<strong>Revenue for the fourth quarter was up 5.4 per cent to US$649m<\/strong>. However, the figure was down 3.9 per cent when compared to the prior-year period. Adjusted property EBITDA was US$74m, which compares to US$47m in 2020.<\/p>\n\n\n\n<p>In full-year results,<strong>\u00a0net revenue was up 70.4 per cent year-on-year<\/strong>\u00a0to US$2.87bn while the net loss was US$1.05bn, compared to US$1.52bn in 2020. Adjusted property EBITDA for 2021 stood at US$338m, compared to a negative figure of US$431m in 2020.<\/p>\n\n\n\n<p>Goldstein said: &#8220;Our results continue to reflect the pandemic\u2019s impact. Travel restrictions continue to affect visitation and our financial results in both Macao and Singapore this quarter.\u00a0<\/p>\n\n\n\n<p>&#8220;We did generate some positive EBITDA for the quarter in both markets. We remain confident in the eventual recovery in both Macau and Singapore.&#8221;<\/p>\n\n\n\n<p>During the fourth-quarter conference call, addressing questions about Macau&#8217;s gaming law <a rel=\"noreferrer noopener\" target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/macau-casino-licences-limited-to-six-with-a-duration-of-10-years\">amendment bill<\/a>, <strong>Grant Chum, Sands senior vice president of global gaming strategy<\/strong>, said: &#8220;We need to wait for further details in terms of the final form that the amendments would take.&#8221;<\/p>\n\n\n\n<p>He said the company has always efficiently used its table allocation so welcomed the direction of linking table allocation with productivity. It&#8217;s expected that the <a href=\"https:\/\/focusgn.com\/asia-pacific\/macau-casino-operators-to-be-given-minimum-annual-ggr-target\">GGR target<\/a> will be calculated based on the<strong>\u00a0maximum number of gaming tables and gaming machines<\/strong>\u00a0each gaming concessionaire is permitted to operate.\u00a0<\/p>\n\n\n\n<p>The bill states that the city\u2019s chief executive will set the minimum GGR that each table or machine should generate each year. The\u00a0<strong>gaming table capacity may be lowered<\/strong>\u00a0if an operator fails to meet its GGR target in two consecutive years.<\/p>\n\n\n\n<p>Macau\u2019s Legislative Council has approved the first reading of the gaming law amendment bill with just one vote against it.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Rob Goldstein, Sands China CEO and chairman, has said he is confident about Macau&#8217;s future despite the ongoing Covid-19 pandemic and the gaming law amendment bill.<\/p>\n","protected":false},"author":176,"featured_media":26755,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Sands China's CEO, Rob Goldstein, maintains a bullish outlook on Macau's future despite a Q4 2021 net loss and the ongoing gaming law amendment bill. The company reported increased revenue year-on-year but acknowledged continued pandemic impacts on visitation and financial results in both Macau and Singapore. Key discussions centered on the new gaming bill's potential to link table allocation with GGR productivity targets.","focusai_entities":"Rob Goldstein, Sands China, Robert Goldstein, Las Vegas Sands, Grant Chum, Macau's Legislative Council","focusai_location":"Macau, Singapore","focusai_target_profile":"ceo_executive (0.95), regulator (0.9), compliance_legal (0.85), operator_casino (0.9), investor_analyst (0.95), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"GGR Target Implications?","query":"What are the projected financial implications for Macau concessionaires if GGR targets per gaming table are not met for two consecutive years under the new amendment bill?"},{"label":"Table Allocation Strategy?","query":"How will the new gaming law's emphasis on linking table allocation to productivity influence capital expenditure and operational efficiency strategies for Macau operators?"}],"footnotes":""},"categories":[157,16338,158],"tags":[23906,21680],"class_list":["post-26712","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-macau-casinos","tag-sands-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26712","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=26712"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26712\/revisions"}],"predecessor-version":[{"id":26727,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/26712\/revisions\/26727"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/26755"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=26712"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=26712"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=26712"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}