{"id":777020123,"date":"2024-10-24T10:53:14","date_gmt":"2024-10-24T13:53:14","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=777020123"},"modified":"2026-04-22T04:51:49","modified_gmt":"2026-04-22T07:51:49","slug":"macau-casinos-sands-china-posts-net-revenue-of-us1-77bn-for-q3","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/macau-casinos-sands-china-posts-net-revenue-of-us1-77bn-for-q3","title":{"rendered":"Macau casinos: Sands China posts net revenue of US$1.77bn for Q3"},"content":{"rendered":"\n

Net revenue was down 1 per cent in year-on-year terms.<\/p>\n\n\n\n\n\n\n\n

Macau.- Sands China<\/strong> has shared its financial results for the second quarter of the year. The company posted net revenue of US$1.77bn, up 1.14 per cent\u00a0from the previous quarter<\/a>\u00a0and 1 per cent in year-on-year terms.<\/p>\n\n\n\n

Net income was US$268m, up 16 per cent year-on-year and 9 per cent versus Q2. The group\u2019s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA<\/strong>)\u00a0<\/strong>was US$585m, compared to US$631m for the third quarter of 2023.<\/p>\n\n\n\n

The Venetian Macao <\/strong>generated net revenue of US$692m, down 0.87 per cent quarter-on-quarter. Casino revenue was US$554m, compared to US$575m in the third quarter of 2023. The Venetian Macao\u2019s adjusted property EBITDA was US$267m. The venue had a hotel occupancy of 98.8 per cent.<\/p>\n\n\n\n

The Londoner Macao<\/a> <\/strong>generated net revenue of US$460m, up 3.60 per cent compared to the previous quarter, while casino revenue reached US$338m. Adjusted property EBITDA was US$124m. Hotel occupancy was 97.7 per cent.<\/p>\n\n\n\n

The\u00a0Parisian Macao\u00a0<\/strong>generated net revenue of US$250m, up 6 per cent sequentially. Casino revenue was US$189m, compared to US$181m in the third quarter of 2023. The casino venue\u2019s adjusted property EBITDA was US$74m. Hotel occupancy was 98.5 per cent.<\/p>\n\n\n\n

The Plaza Macao <\/strong>posted net revenue of US$257m, up 2.80 per cent in quarter-on-quarter terms. Casino revenue was US$182m, compared to US$108m in the third quarter of 2023. The casino venue\u2019s adjusted property EBITDA was US$102m. Hotel occupancy was 93.2 per cent.<\/p>\n\n\n\n

The Sands Macao <\/strong>posted net revenue of US$81m, up 2.53 per cent compared to the previous quarter. Casino revenue was US$73m, compared to US$75m in the third quarter of 2023. The casino venue\u2019s adjusted property EBITDA was US$14m. Hotel occupancy was 99.4 per cent.<\/p>\n\n\n\n

Robert G. Goldstein<\/strong>, Sands China CEO and chairman said: “In Macau, the ongoing recovery continued during the quarter, although visitation to the market remains below the levels reached prior to the pandemic. Our decades-long commitment to making investments that enhance the business and leisure tourism appeal of Macau and support its development as a world centre of business and leisure tourism positions us well as the recovery in travel and tourism spending progress.”<\/p>\n\n\n\n

Sands China EBITDAR to rise 16.6% in 2025, analysts say<\/h2>\n\n\n\n

Analysts at JP Morgan Securities <\/strong>have forecast that Sands China\u2019s earnings before interest, taxation, depreciation, amortisation and rent (EBITDAR) could rise 16.6 per cent year-on-year to US$2.77bn in 2025. Joe Greff <\/strong>and Sam Nielsen<\/strong> attributed the increase to the Londoner Macao\u2019s renovation.<\/p>\n\n\n\n

The US$2bn Londoner project opened in phases starting in February 2021<\/a>. The \u2018British-themed\u2019 complex has five hotels, collectively offering nearly 6,000 rooms and suites. One of the resort\u2019s gaming floors has already been renovated and is now open, while hotel rooms and other revenue-generating elements will open gradually in the fourth quarter of 2024 and throughout 2025. According to analysts, this should enable Sands China to achieve growth in 2025 that exceeds that of its peers in the city.<\/p>\n","protected":false},"excerpt":{"rendered":"

Net revenue was down 1 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 Q2 net revenue of US$1.77bn, a 1% year-on-year increase, with net income rising 16% to US$268m. Adjusted property EBITDA reached US$585m, with individual Macau properties showing varied performance and high hotel occupancy rates. Analysts forecast Sands China's EBITDAR to increase by 16.6% in 2025, driven by the ongoing renovation and phased opening of The Londoner Macao.","focusai_entities":"Sands China, Robert G. Goldstein, JP Morgan Securities, Joe Greff, Sam Nielsen, The Venetian Macao, The Londoner Macao, The Parisian Macao, The Plaza Macao, The Sands Macao","focusai_location":"Macau","focusai_target_profile":"ceo_executive (0.95), operator_casino (0.9), investor_analyst (1.0), supplier_vendor (0.75), journalist_researcher (0.9)","focusai_suggestions":[{"label":"Macau Market Recovery Pace?","query":"What specific visitation metrics or GGR trends in Macau indicate the pace of recovery relative to pre-pandemic levels, and how does Sands China's performance benchmark against the broader market?"},{"label":"Londoner Renovation ROI?","query":"What is the projected return on investment (ROI) for The Londoner Macao's US$2bn renovation, and how will the phased opening of new revenue-generating elements impact NGR and EBITDA margins through 2025?"}],"footnotes":""},"categories":[16338,163],"tags":[23906,21680],"class_list":["post-777020123","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-east-asia-news","category-finance-news","tag-macau-casinos","tag-sands-china"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020123","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=777020123"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020123\/revisions"}],"predecessor-version":[{"id":777020155,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/777020123\/revisions\/777020155"}],"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=777020123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=777020123"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=777020123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}