Rob Goldstein, Sands China CEO and chairman, has said he is confident about Macau’s future despite the ongoing Covid-19 pandemic and the gaming law amendment bill.<\/p>\n\n\n\n\n\n\n\n
Macau.- At the presentation of the financial results for the last quarter of 2021,\u00a0Robert Goldstein<\/strong>, Las Vegas Sands\u2019 chairman and chief executive, said he remains confident about Macau’s future. He said Sands China remains \u201cbullish\u201d on the Macau market\u00a0<\/strong>despite the Covid-19 pandemic and the city’s new gaming bill.<\/p>\n\n\n\n Sands China<\/strong>\u00a0has reported\u00a0a net loss of US$245m<\/a>\u00a0for the last quarter of the year 2021.\u00a0Revenue 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 In full-year results,\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 Goldstein said: “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 “We did generate some positive EBITDA for the quarter in both markets. We remain confident in the eventual recovery in both Macau and Singapore.”<\/p>\n\n\n\n During the fourth-quarter conference call, addressing questions about Macau’s gaming law amendment bill<\/a>, Grant Chum, Sands senior vice president of global gaming strategy<\/strong>, said: “We need to wait for further details in terms of the final form that the amendments would take.”<\/p>\n\n\n\n