{"id":777014830,"date":"2024-04-18T08:26:59","date_gmt":"2024-04-18T11:26:59","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777014830"},"modified":"2026-04-22T11:02:31","modified_gmt":"2026-04-22T14:02:31","slug":"sands-china-posts-net-revenue-of-us1-80bn-for-q1","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/sands-china-posts-net-revenue-of-us1-80bn-for-q1","title":{"rendered":"Sands China posts net revenue of US$1.80bn for Q1"},"content":{"rendered":"\n

Net revenue was up 41.6 per cent in year-on-year terms.<\/p>\n\n\n\n\n\n\n\n

Macau.-\u00a0Sands China<\/strong>\u00a0has shared its financial results for the first quarter of the year 2024. Net revenue was US$1.80bn, down 2.8 per cent in quarter-on-quarter terms<\/a>\u00a0but up 41.6 when compared to last year. Net income was US$297m, compared to a net loss of US$10m in the first quarter of 2023. <\/p>\n\n\n\n

The group\u2019s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA<\/strong>)\u00a0<\/strong>was US$610m. Capital expenditures totalled US$196m, including construction, development and maintenance activities of US$90m in Macau.<\/p>\n\n\n\n

The\u00a0Venetian Macao\u00a0<\/strong>generated net revenue of US$771m. Casino revenue was US$638m, compared to US$446m in the first quarter of 2023. The Venetian Macao\u2019s adjusted property EBITDA was US$314m.\u00a0The\u00a0Londoner Macao\u00a0<\/strong>generated net revenue of US$562m, while casino revenue reached US$419m. Adjusted property EBITDA was US$172m.\u00a0<\/p>\n\n\n\n

The\u00a0Parisian Macao\u00a0<\/strong>generated net revenue of US$230m. Casino revenue was US$173m, compared to US$128m in the first quarter of 2023. The casino venue\u2019s adjusted property EBITDA was US$71m. The\u00a0Plaza Macao\u00a0<\/strong>posted net revenue of US$142m. Casino revenue was US$70m, compared to US$109m in the first quarter of 2023. The casino venue\u2019s adjusted property EBITDA was US$36m.<\/p>\n\n\n\n

The\u00a0Sands Macao\u00a0<\/strong>posted net revenue of US$76m. Casino revenue was US$69m, compared to US$67m in the first quarter of 2023. The casino venue\u2019s adjusted property EBITDA was US$12m.<\/p>\n\n\n\n

Robert G. Goldstein<\/strong>, Sands China CEO and chairman said: \u201cWe remain supremely confident in the future growth of the Macao market. I have stated in the past that I believe the Macao market will keep growing, and reach US$30bn, then US$35bn, then US$40bn and beyond in the years ahead. <\/p>\n\n\n\n

“I retain that belief. We remain equally confident in our business strategy to invest in both the quality and scale of our market-leading assets in Macao. Our capital investment programs in Macao will ensure that we continue to be the market leader in the years ahead. <\/p>\n\n\n\n

“We have a unique competitive position in terms of the scale, quality and diversity of our product offerings. Upon completion of Phase II of The Londoner Macao and our Cotai Arena redevelopment program, our product advantage will be more substantial than ever.”<\/p>\n\n\n\n

Patrick Dumont<\/strong>, president and chief operating officer of Las Vegas Sands, added: “In terms of Phase II of The Londoner Macao, we have now commenced the room renovation on the first Sheraton tower. <\/p>\n\n\n\n

“We plan the completion of the first tower by year-end, and of the second tower by the Golden Week in May 2025. The renovation of the casino on the Sheraton side of The Londoner Macao will commence in May of this year with the re-opening scheduled for December 2024. <\/p>\n\n\n\n

“While there will be ongoing disruption from these capital projects, as these products come on-line between the end of 2024 and the first half of 2025, our competitive position will be stronger than ever. The scale, quality and diversity of product will be better than we have ever offered before. They will be unmatched in the market.”<\/p>\n\n\n\n

See also: <\/strong>RFID tables to boost Macau casino revenue, analysts say<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Net revenue was up 41.6 per cent in 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 Q1 2024 net revenue of US$1.80bn, a 41.6% year-on-year increase, with net income reaching US$297m compared to a prior-year loss. The company's Macau properties demonstrated robust performance, supported by significant capital expenditures totaling US$196m. Executives expressed strong confidence in Macau's market growth trajectory and detailed ongoing strategic investments, including Phase II of The Londoner Macao and extensive renovations, to solidify their competitive advantage.","focusai_entities":"Sands China, Robert G. Goldstein, Las Vegas Sands, Patrick Dumont, The Venetian Macao, The Londoner Macao, The Parisian Macao, The Plaza Macao, The Sands Macao","focusai_location":"Macau","focusai_target_profile":"ceo_executive (1.0), regulator (0.7), operator_casino (1.0), investor_analyst (1.0), supplier_vendor (0.8), journalist_researcher (1.0)","focusai_suggestions":[{"label":"Macau Market Outlook","query":"Given the projected market growth to US$40bn, what specific regulatory or infrastructure developments are anticipated to support this expansion beyond Sands China's capital investments?"},{"label":"Capital Deployment ROI","query":"How does Sands China project the return on investment for the US$196m Q1 capital expenditures, particularly for The Londoner Macao Phase II, in terms of incremental NGR and EBITDA contribution?"}],"footnotes":""},"categories":[16338,163],"tags":[21680],"class_list":["post-777014830","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\/777014830","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=777014830"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014830\/revisions"}],"predecessor-version":[{"id":777014854,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777014830\/revisions\/777014854"}],"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=777014830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777014830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777014830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}