{"id":777004488,"date":"2023-04-20T13:06:54","date_gmt":"2023-04-20T16:06:54","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777004488"},"modified":"2026-04-22T22:41:18","modified_gmt":"2026-04-23T01:41:18","slug":"sands-china-posts-net-revenue-of-us1-28bn-for-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sands-china-posts-net-revenue-of-us1-28bn-for-q1","title":{"rendered":"Sands China posts net revenue of US$1.28bn for Q1"},"content":{"rendered":"\n<p>Net revenue increased by 132 per cent on year-on-year terms.<\/p>\n\n\n\n<!--more-->\n\n\n\n<p>Macau.-&nbsp;<strong>Sands China<\/strong>&nbsp;has shared its financial results for the first quarter of the year 2023. It posted net revenue of US$1.28bn, up 132 per cent when compared to last year. Its net loss was US$10m, down from US$336m in the prior-year period and from&nbsp;<a rel=\"noreferrer noopener\" href=\"https:\/\/focusgn.com\/asia-pacific\/sands-china-posts-net-loss-of-us348m-for-q4\" target=\"_blank\">US$348m in the previous quarter<\/a>.<\/p>\n\n\n\n<p>The group\u2019s adjusted property earnings before interest, taxation, depreciation and amortisation (<strong>EBITDA<\/strong>)<strong>&nbsp;<\/strong>for the first quarter was US$398m, compared to negative US$11m for the first quarter of 2022. Some 3,800 rooms remained out of service due to labour constraints during the quarter.<\/p>\n\n\n\n<p>The&nbsp;<strong>non-rolling table win in the mass market was US$911m<\/strong>, compared with US$354m in the same period last year. The figure represents 60 per cent of pre-pandemic levels.&nbsp;<strong>Slot machine win&nbsp;<\/strong>reached US$118m, up from US$29m a year ago and about 77 per cent of 2019 levels.&nbsp;<strong>Rolling win in the VIP segment<\/strong>&nbsp;was at 23 per cent of pre-pandemic levels at US$155m.<\/p>\n\n\n\n<p>The&nbsp;<strong>Venetian Macao&nbsp;<\/strong>posted net sales of US$558m in the three months ended March 31. Casino revenue was US$446m, compared to US$157m in the first quarter of 2022. The Venetian Macao&#8217;s adjusted real estate EBITDA increased to US$210m from US$19m a year ago.<\/p>\n\n\n\n<p><strong>Robert G. Goldstein<\/strong>, Sands China CEO and chairman said: &#8220;In Macau, we were pleased to see the ongoing recovery now underway in all gaming and nongaming segments accelerate during the quarter.&nbsp;<\/p>\n\n\n\n<p>&#8220;We remain deeply enthusiastic about the opportunity to continue our investments<strong>&nbsp;to enhance Macau\u2019s tourism appeal to travelers from throughout the region<\/strong>, including to foreign visitors to Macau. Our decades-long commitment to&nbsp;making investments that enhance the business and leisure tourism appeal of Macau&nbsp;and support its development as a world centre of business and leisure tourism positions us exceedingly well to deliver strong growth as visitation to the market increases and the recovery in travel and tourism spending proceeds.&#8221;<\/p>\n\n\n\n<p><strong>See also:&nbsp;<\/strong><a target=\"_blank\" href=\"https:\/\/focusgn.com\/asia-pacific\/sands-china-urges-diversification-of-macau-economy-beyond-gaming\" rel=\"noreferrer noopener\">Sands China urges diversification of Macau economy beyond gaming<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Net revenue increased by 132 per cent on year-on-year terms.<\/p>\n","protected":false},"author":176,"featured_media":25098,"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 significant financial rebound in Q1 2023, with net revenue up 132% to US$1.28bn and adjusted property EBITDA reaching US$398m, reversing a prior-year loss. This recovery, driven by mass market and slot machine wins, signals Macau's post-pandemic resurgence, despite ongoing labour constraints affecting room availability. CEO Robert G. Goldstein highlighted continued investment in Macau's tourism appeal for sustained growth.","focusai_entities":"Sands China, Robert G. Goldstein, The Venetian Macao","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), operator_casino (1.0), marketing_crm (0.7), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Labour Constraint Impact?","query":"How are Sands China's ongoing labour constraints impacting their ability to fully capitalize on the Macau market recovery, and what specific mitigation strategies are being implemented?"},{"label":"Mass Market Strategy?","query":"What are the long-term strategic implications of the mass market and slot win recovery significantly outpacing VIP rolling win, and how does this influence future capital allocation and product development?"}],"footnotes":""},"categories":[16338,163],"tags":[21680],"class_list":["post-777004488","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\/777004488","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=777004488"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777004488\/revisions"}],"predecessor-version":[{"id":777004512,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777004488\/revisions\/777004512"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/25098"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777004488"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777004488"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777004488"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}