Sands China has reported a 144 per cent rise in net losses.<\/p>\n\n\n\n\n\n\n\n
Macau.- Sands China has reported US$422m in net losses for Q2, an increase of 144 per cent over last year.\u00a0Losses in the previous quarter<\/a>\u00a0had increased to US$336m.<\/p>\n\n\n\n The company reported an adjusted property EBITDA loss of US$110m<\/strong>. Total revenue plunged by 56 per cent year-on-year to US$368m. The group incurred US$162m in interest expenses, while borrowings of US$951m under a credit facility raised the weighted average debt balance.<\/p>\n\n\n\n Robert Goldstein<\/strong>, Las Vegas Sands CEO, said: “We remain confident in the recovery of travel and tourism spending across our markets. Demand for our offerings from customers who have been able to visit remains robust, while pandemic-related travel restrictions continue to limit visitation and hinder our current financial performance.”<\/p>\n\n\n\n As previously reported by Focus Gaming News, Sands China has entered into a loan agreement with Las Vegas Sands Corp (LVS)<\/a> for\u00a0MOP8bn (US$1bn)<\/strong>\u00a0repayable on July 11, 2028.<\/p>\n\n\n\n After approximately two weeks of closure for casinos and virtually no visitors to the city, analysts have projected worse third-quarter results for Macau following\u00a0the recent Covid-19 outbreak<\/a>. Analysts at\u00a0JP Morgan Securities<\/strong>\u00a0have estimated that\u00a0Macau casino operators<\/a>\u00a0will end the year with approximately US$800m in EBITDA losses.<\/p>\n\n\n\n The brokerage company believes\u00a0Sands China\u00a0<\/strong>currently has a minimum nine-month liquidity runway through March 2023.<\/p>\n","protected":false},"excerpt":{"rendered":" Sands China has reported a 144 per cent rise in net losses.<\/p>\n","protected":false},"author":176,"featured_media":18146,"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 reported a Q2 net loss of US$422m, a 144% increase year-on-year, with total revenue plunging 56% to US$368m, primarily due to ongoing COVID-19 travel restrictions in Macau. Despite a US$1bn loan from Las Vegas Sands Corp, analysts project further EBITDA losses for Macau operators, though Sands China maintains a nine-month liquidity runway.","focusai_entities":"Sands China, Las Vegas Sands Corp, Robert Goldstein, JP Morgan Securities","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.7), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau recovery timeline?","query":"What specific GGR recovery projections are being modeled by major investment banks for Macau in H2 2022 and H1 2023, considering the recent COVID-19 outbreaks and evolving travel policies?"},{"label":"Sands China liquidity strategy?","query":"Beyond the LVS credit facility, what additional capital allocation or operational efficiency measures is Sands China implementing to extend its liquidity runway beyond March 2023, given sustained market headwinds?"}],"footnotes":""},"categories":[16338,163],"tags":[21680],"class_list":["post-31959","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-sands-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31959","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=31959"}],"version-history":[{"count":4,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31959\/revisions"}],"predecessor-version":[{"id":31998,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/31959\/revisions\/31998"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/18146"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=31959"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=31959"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=31959"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}