{"id":8398,"date":"2020-07-23T22:56:13","date_gmt":"2020-07-23T22:56:13","guid":{"rendered":"https:\/\/focusgn.com\/asia-pacific\/?p=8398"},"modified":"2026-04-24T03:22:32","modified_gmt":"2026-04-24T06:22:32","slug":"lvs-president-gives-details-on-macau-projects","status":"publish","type":"post","link":"https:\/\/focusgn.com\/asia-pacific\/lvs-president-gives-details-on-macau-projects","title":{"rendered":"LVS president gives details on Macau projects"},"content":{"rendered":"\n

Interior work at The Londoner is on track and the issuing of visas to enter Macau from Guangdong could help financial recovery, LVS president says.<\/p>\n\n\n\n\n\n\n\n

Macau.- Las Vegas Sands President and Chief Operating Officer Rob Goldstein has offered details on the firm\u2019s Macau projects .<\/p>\n\n\n\n

In a conference call following the posting of second quarter financial results, Goldstein said interior renovations on The Londoner Macau are on track to be finished by September 2020<\/a><\/em><\/strong> as scheduled, although the exterior works has been delayed and will take place in 2021.<\/p>\n\n\n\n

The president said: \u201cWe\u2019re going as fast as we can with the constraints of Covid-19. We\u2019ve not pulled back in terms of trying to get it done, we\u2019re not holding back, we just have some constraints construction wise.\u201d<\/p>\n\n\n\n

The Londoner Macao has been designed to replicate the architecture of the UK’s Houses of Parliament, including a similar clock tower to that which houses the famous bell, Big Ben. It will feature a 6,000-seat arena, a retail mall, street shows, a VR experience and restaurants.<\/p>\n\n\n\n

The budget for the project was US$2.2 billion so far but new capital is expected to be injected next year.<\/p>\n\n\n\n

Goldstein also referred to the current state of finances and says he does not expect to make any profit until mainland China resumes its Visit Scheme (IVS) visas to enter Macau.<\/p>\n\n\n\n

Guangdong residents are already allowed to enter without quarantine through a common \u201chealth code\u201d system when presenting a Covid-19 test result not older than seven days, but the IVS system will be needed to boost leisure and gaming trips, he believed.<\/p>\n\n\n\n

He said: \u201cWe believe Macau is our biggest upside potential but it is critical to realise that without the IVS scheme being resurrected there is not much hope for casinos to come back.<\/p>\n\n\n\n

\u201cAll that is [currently] left is non-expired IVS and those are dwindling, so the impact is negligible\u201d.<\/p>\n\n\n\n

Goldstein believes Macau has potential for a fast recovery once the IVS system is reinstated.<\/p>\n\n\n\n

His comments came after Las Vegas Sands posted a 98.1 per cent drop in revenue<\/a><\/em><\/strong> at its Macau resort, Sands China, in Q2.<\/p>\n","protected":false},"excerpt":{"rendered":"

Interior work at The Londoner is on track and the issuing of visas to enter Macau from Guangdong could help financial recovery, LVS president says.<\/p>\n","protected":false},"author":2,"featured_media":8400,"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' President and COO, Rob Goldstein, provided an update on The Londoner Macau's interior renovations, which are on schedule despite COVID-19 related construction constraints. He underscored that Macau's financial recovery and gaming vertical profitability are critically dependent on the reinstatement of mainland China's Individual Visit Scheme (IVS) visas, following a 98.1% Q2 revenue decline for Sands China.","focusai_entities":"Las Vegas Sands, Rob Goldstein, Sands China","focusai_location":"Macau, Guangdong, China, UK","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":"IVS Reinstatement Impact","query":"What specific GGR projections has LVS modeled for Macau upon the full reinstatement of the Individual Visit Scheme, and what is the anticipated timeline for achieving pre-pandemic NGR levels?"},{"label":"Londoner Capex Strategy","query":"Given the ongoing construction constraints and delayed exterior works, how will the additional capital injection for The Londoner Macau project be phased, and what is the revised ROI forecast considering the current market volatility?"}],"footnotes":""},"categories":[157,16338,158],"tags":[12415,1642,22894],"class_list":["post-8398","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business-news","category-east-asia-news","category-slider-home","tag-guangdong","tag-las-vegas-sands","tag-the-londoner"],"_links":{"self":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8398","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\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/comments?post=8398"}],"version-history":[{"count":2,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8398\/revisions"}],"predecessor-version":[{"id":8401,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/posts\/8398\/revisions\/8401"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media\/8400"}],"wp:attachment":[{"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/media?parent=8398"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/categories?post=8398"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/focusgn.com\/asia-pacific\/wp-json\/wp\/v2\/tags?post=8398"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}