Some 2,500 to 3,000 rooms are unavailable due to renovation work.<\/p>\n\n\n\n\n\n\n\n
Macau.- Some 2,500 to 3,000 rooms at Las Vegas Sands’ The Londoner Macao are currently unavailable due to renovation work. A note from JP Morgan analysts following an investor meeting in the United States with Daniel Briggs, senior vice president of investor relations, and Alistair Scobie, vice president of investor relations, said this will impact on Q2 results.<\/p>\n\n\n\n
The current phase of renovations, estimated at US$1.2bn, includes upgrades to the Sheraton and Conrad hotels as well as the Pacifica casino space. The Sheraton towers at the complex have around 4,000 rooms.<\/p>\n\n\n\n
In the first quarter of the year, Las Vegas Sands had approximately 500 to 600 rooms unavailable due to the renovation of the first Sheraton hotel tower at The Londoner Macao. The company is also updating the Cotai Arena at the Venetian Macao, with projects expected to conclude by the fourth quarter of this year, according to Wilfred Wong Ying Wai, executive vice chairman of Sands China.<\/p>\n\n\n\n
Las Vegas Sands has redistributed table demand to other properties in its Macau portfolio. It says it does not anticipate a need to increase its reinvestment rate once renovations are completed and new facilities, including an additional 1,000 suites at the Sheraton, are operational by the end of the year.<\/p>\n\n\n\n
The US$2bn Londoner project has opened in phases starting in February 2021<\/a>. The \u2018British-themed\u2019 complex has five hotels, collectively offering nearly 6,000 rooms and suites. <\/p>\n\n\n\n For the first quarter of the year<\/a>, Sands China reported net revenue of US$1.80bn, down 2.8 per cent\u00a0in quarter-on-quarter terms<\/a> but 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. The\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","protected":false},"excerpt":{"rendered":" Some 2,500 to 3,000 rooms are unavailable due to renovation work.<\/p>\n","protected":false},"author":176,"featured_media":14366,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"is_press_release":false,"is_interview":false,"is_opinion":false,"focusai_summary":"Las Vegas Sands' Macau properties, primarily The Londoner Macao, are undergoing significant renovations estimated at US$1.2bn, resulting in 2,500-3,000 unavailable rooms and an anticipated impact on Q2 financial results. These strategic upgrades, including new suites and casino space, are projected to conclude by Q4 2024, enhancing long-term operational capacity and asset value for Sands China without an expected increase in reinvestment rates.","focusai_entities":"Las Vegas Sands, The Londoner Macao, JP Morgan, Daniel Briggs, Alistair Scobie, Sheraton, Conrad, Pacifica, Venetian Macao, Sands China, Wilfred Wong Ying Wai","focusai_location":"Macau, United States","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.9), product_ux (0.7), marketing_crm (0.75), investor_analyst (0.98), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Q2 Revenue Impact","query":"What is the projected GGR and NGR impact on Sands China's Q2 performance, specifically for The Londoner Macao, given the 2,500-3,000 room unavailability?"},{"label":"Post-Renovation ROI","query":"How does Las Vegas Sands anticipate the US$1.2bn renovation investment will enhance market share, average daily rate (ADR), and overall property EBITDA for The Londoner Macao post-Q4 2024 completion?"}],"footnotes":""},"categories":[157,16338],"tags":[21680,22894],"class_list":["post-777016282","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","tag-sands-china","tag-the-londoner"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016282","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=777016282"}],"version-history":[{"count":3,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016282\/revisions"}],"predecessor-version":[{"id":777016291,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777016282\/revisions\/777016291"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/14366"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=777016282"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777016282"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777016282"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}