Sands talks up Macau growth potential despite visitation concerns in Q2

Las Vegas Sands has been confident in the lon g-term growth potential in Macau, despite the fact that the number of visitors in Macau is much below the pandemic, and has increased in the Macau region and business as a whole. Is reported.

Group sales for three months until June 30 were $ 276 billion (£ 21. 4 billion / 254 billion euros). This was 8. 6 % from $ 25. 4 billion, which was recorded by Sands in the second quarter of last year, but did not reach the consensus prediction.

Good news for Sands has increased sales in each report, Macau and Singapore. Macau's casinos were the most profitable of $ 1750 billion, increasing 7. 7 % to $ 163 billion last year.

The main source of revenue is $ 686 million in Venetian, $ 444 million in London, $ 265 million in Paris, $ 250 million in Plaza and Four Seasons, and $ 250 million in Sands Macau. It exceeded. In addition, $ 30 million came from ferry operations and other activities.

Macau visitor concerns for Sands

Although Macau's sales increased, Sands pointed out that the number of visitors to Macau was decreasing in the report after reporting. The number of visitors to Macau has decreased by 2 million compared to the previous quarter, and the operating company is at a loss for the reason.

"Sands China's Grant Cham's highest executive (CEO) said," The recovery rate of visits has actually declined. "It's about 79 % compared to the second quarter of 2019.

"However, in the last two quarters, it was 85 % to 90 % in the past six months. So I think there was clearly more than a seasonal deceleration. I do not know exactly the reason.

Group CEO, Robert Goldstein, also stated that Macau could lose 8 million tourists a year if this trend continued throughout the year.

However, in the long term, he has not lost his positive attitude to the possibility of Macau's growth. Sands and Sands's own future are approaching the completion of the construction of Londonner, which has affected the second quarter profit margin.

"I am confident in the future growth of the Macau Market." I believe that the total revenue of the Macau market will exceed $ 30 billion next year and continue to grow year by year.

Singapore “getting better by the day”

For businesses in Singapore, sales increased 9. 8 % to $ 10. 2 billion. All sales are from the only facility in the area: Marina Bay Sands.

When I talked about Singapore at the financial results briefing, I was more positive. Goldstein has stated that the market is powerful and "day and day". As a future prospect, Sands will soon offer towe r-type games in Marina Bay Sands. Such services will start in the third quarter.

"In the past, the second quarter is one of the weakest seasonal quarters," said Goldstein. "Nevertheless, what happens in Singapore is almost a precedent in this industry. This market is very powerful and better day day."

Revenue growth offsets higher costs

Casino income increased 9. 3 % to $ 20. 4 billion. Room income increased by 5. 7 % to $ 313 million, eating and drinking income increased 3. 5 % to $ 148 million, malls up 1. 2 % to $ 174 million, conventions, retail, and others increased 31. 9 % to 91 million. It was a dollar.

In terms of expenditure, operating costs increased by 8. 2 % to $ 217 billion, with a resort business overwhelmingly $ 169 billion. Pure finance costs were $ 95 million, and profits before tax increased 18. 9 % to $ 496 million.

Sands paid $ 72 million in corporate tax, and net income, which deducted $ 71 million from no n-ruling, up 13. 1 % to $ 353 million.

Stronger results over H1

The achievements in the current quarter were strong, but the analyst's expectations were higher than those achieved after the remarkable achievements in the first quarter. This is clear in the first half of the performance, and the growth rate is significantly increasing. Comparing the first half of the year compared to the same period of the previous year, group sales increased to $ 5. 72 billion to $ 5. 72 billion. Macau sales in six months increased 22. 6 % to $ 3. 57 billion, and Singapore's sales increased 22. 6 % to $ 21. 7 billion.

In the first half of the year, the total casino revenue increased by 25. 3 % to $ 4. 26 billion, the guest room revenue increased by 19. 3 % to $ 64. 3 billion, the food and drink income increased by 11. 6 % to $ 2. 98 billion, the mall increased 4. 2 %, the $ 34. 8 billion, the retail, and the retail. Others increase 41. 2 % to $ 16. 8 billion.

Opening costs increased by 17. 8 % to $ 4. 41 billion, and net financial costs were $ 482 million. As a result, profits before taxes increased 79. 1 % yea r-o n-year to $ 1. 1 billion.

Sands paid $ 89 million taxes and discounted $ 160 million from no n-ruling. As a result, the total net profit in six months was $ 847 million, an increase of 84. 5 %.

"Financial and business results in the second quarter of 2024 reflect the growth in both Macau and Singapore markets compared to the second quarter of 2023." Larg e-scale capital investment in Macau and Singapore. While implementing a plan, we are continuing to be motivated to realize the industr y-leading growth in the next few years.

Thailand, Texas and New York in Sands’ sights?

This week, Sands moved a step closer to securing a lease for a New York casino site at the Nassau Coliseum on Long Island. The company is one of 11 bidders for three casino licenses downstate.

Sands president and COO Patrick Dumont said he's "spending a lot of time" in New York and Texas (where Miriam Adelson owns a majority stake in the Dallas Mavericks) but spoke specifically about plans for an integrated resort in Thailand.

The Thai government is moving forward with legalizing casinos, and Dumont sees the market as a particularly interesting opportunity for Sands.

"Thailand is a very strong market for different types of tourism," he said. "And depending on how the casino is set up and the structural opportunities, I think it could be very interesting for us."

"We'll see what happens."

Sands China Launches Next Stage of Development of the Londoner Macao

Las Vegas Sands (LVS) has announced a $1 billion expansion and buildout of The Londoner Macao, due for completion by early 2025. The upgrade will include a renovation and repositioning of the hotel, new dining, shopping, entertainment and health and wellness. The Londoner Macao exemplifies British style, tradition and hospitality and features famous British landmarks. The integrated resort also features three spas, four health clubs, more than 20 dining options, 150 boutiques from world-renowned brands and state-of-the-art conference facilities, including the new 6, 000-seat The Londoner Arena.

Positive Negative Market Research Analyst

The Londoner Macao by Sands China The announcement of the investment in The Londoner Macau signals the company's strategic focus on revitalizing its offerings to remain competitive in the global travel and hospitality market. The size of the investment, estimated at $1 billion, underscores the company's commitment to innovation and enhancing customer experience.

From a market research perspective, the renovation and expansion of luxury travel destinations such as The Londoner Macau is essential to cater to the evolving tastes of high-value tourists and gamblers. The introduction of new amenities and the renovation of existing hotel space could attract a more diverse clientele and increase the average tourist spend. This ambitious project could also have a ripple effect on the local economy, boosting jobs during the construction phase and enhancing Macau's tourism profile once completed.

However, monitoring such larg e-scale projects investment effects is particularly important, especially in the pandemic, when travel patterns and consumer psychology may still be unstable. Whether the success of The Londonner Macau will succeed in whether or not Macau can maintain the attractiveness of a leading travel destination as the world's economic situation is intensifying. See.

Financial analyst

The financial impact of Sands China investing $ 1 billion in strengthening the facility of The Londner Macau is multifaceted. For stakeholders, shor t-term financial impacts are likely to appear as a result of increased capital investment and diluting profits due to confusion related to construction. However, the strategic position of a resort that takes advantage of the rapid increase in the regular New Year's trip expected in early 2025 can lead to a significant increase in profits.

Lon g-term benefits include strengthening the position in the market, increasing sales per room (REVPAR), and improving shareholder value. The investment is in line with the company's growth strategy, which may increase market share in Macau's gaming hospitality. Nevertheless, investors need to take into account the unique risks associated with such a larg e-scale development, such as construction delays, costs, and changes in regulatory environments, which can affect the expected revenue. 。

It is also important to analyze the stock price performance of Sands China after the announcement. This is due to the possibility of providing insights of investors' trust in the company's growth orbital and recovery of hospitality sector after pandemic. If the strategic completion time of the project is consistent with the recovery of tourism and personal consumption, it may be advantageous.

economist

Investing in The Londonner Macau can be a major economic stimulus for Macau and may contribute to local GDP growth. The luxury resort division plays a very important role in the Macau economy, and the strengthening of The Londonner Macau can make Macau's position as one of the world's leading destinations. The size of the project suggests that the Macau tourism industry can survive over the long term. < Span> However, monitoring such larg e-scale projects is extremely important, especially in the pandemic, where travel patterns and consumer psychology may still be unstable. Whether the success of The Londonner Macau will succeed in whether or not Macau can maintain the attractiveness of a leading travel destination as the world's economic situation is intensifying. See.

Financial analyst

The financial impact of Sands China investing $ 1 billion in strengthening the facility of The Londner Macau is multifaceted. For stakeholders, shor t-term financial impacts are likely to appear as a result of increased capital investment and diluting profits due to confusion related to construction. However, the strategic position of a resort that takes advantage of the rapid increase in the regular New Year's trip expected in early 2025 can lead to a significant increase in profits.

Lon g-term benefits include strengthening the position in the market, increasing sales per room (REVPAR), and improving shareholder value. This investment is in line with the company's growth strategy, which may increase market share in Macau's gaming hospitality. Nevertheless, investors need to take into account the unique risks associated with such a larg e-scale development, such as construction delays, costs, and changes in regulatory environments, which can affect the expected revenue. 。

It is also important to analyze the stock price performance of Sands China after the announcement. This is because it may provide insights of investors' trust in the company's growth orbital and recovery of hospitality sector after pandemic. If the strategic completion time of the project is consistent with the recovery of tourism and personal consumption, it may be advantageous.

economist

Investing in The Londonner Macau can be a major economic stimulus for Macau and may contribute to local GDP growth. The luxury resort division plays a very important role in the Macau economy, and the strengthening of The Londonner Macau can make Macau's position as one of the world's leading destinations. The size of the project suggests that the Macau tourism industry can survive over the long term. However, monitoring such larg e-scale projects investment effects is particularly important, especially in the pandemic, when travel patterns and consumer psychology may still be unstable. Whether the success of The Londonner Macau will succeed in whether or not Macau can maintain the attractiveness of a leading travel destination as the world's economic situation is intensifying. See.

Financial analyst

The financial impact of Sands China investing $ 1 billion to strengthen the Londner Macau facility is multifaceted. For stakeholders, shor t-term financial impacts are likely to appear as a result of increased capital investment and diluting profits due to confusion related to construction. However, the strategic position of a resort that takes advantage of the rapid increase in the regular New Year's trip expected in early 2025 can lead to a significant increase in profits.

Lon g-term benefits include strengthening the position in the market, increasing sales per room (REVPAR), and improving shareholder value. The investment is in line with the company's growth strategy, which may increase market share in Macau's gaming hospitality. Nevertheless, investors need to take into account the unique risks associated with such a larg e-scale development, such as construction delays, costs, and changes in regulatory environments, which can affect the expected revenue. 。

• It is also important to analyze the stock price performance of Sands China after the announcement. This is due to the possibility of providing insights of investors' trust in the company's growth orbital and recovery of hospitality sector after pandemic. If the strategic completion time of the project is consistent with the recovery of tourism and personal consumption, it may be advantageous.
• economist
• Investing in The Londonner Macau can be a major economic stimulus for Macau and may contribute to local GDP growth. The luxury resort division plays a very important role in the Macau economy, and the strengthening of The Londonner Macau can make the world's leading Macau status unwavering. The size of the project suggests that the Macau tourism industry can survive over the long term.
• Economist evaluates the potential multiplier effects caused by such investment. This effect can benefit from direct sightseeing and hospitality departments, as well as suppliers, retailers, and wider service industries. In addition, projects may create temporary and permanent employment opportunities, contributing to a decrease in unemployment and the increase in disposable income.
• However, because it depends on the tourism business, especially the game revenue, the Macau economy may be vulnerable to external shocks, such as recession and visa regulations. The diversification of the economy is still an important consideration, and while the investment like this time, it also emphasizes the need for Macau to develop other sector to ensure sustainable economic growth. 。

01/09/202 4-12:15 PM

Sands China has invested in the development of Macau as one of the world's leading travel destination, with North Hamton, 2024, Northhamton, 2024, 2024. The next stage of the commitment of supporting Sands, which focuses on continuous real estate r e-investment, has begun to be attractive and attractive for local guests, and overseas guests.

In November, Sands CHINA started the next change of The Londoner Macao®. A grand celebration was held in the mi d-2023, and it became the culmination of the tw o-yea r-yea r-old Sands ® Cotai Center integrated resort.

Future expansion and addition of The Londoner Macao include renovation and redistribution of SHERATON Hotels and Conrad Hotels, new dining, shopping, entertainment, and introduction of health and wellness facilities, and the total is $ 1 billion. It is. In Sands China, the final upgrades of The Londoner Macau will be completed in early 2025, in line with the Lunar New Year's trip.

This upgrade of the UK's theme is that Sands Cotai Central has been renovated to The Londoner Macao with Sands Cotai Central, and immediately after the official resort's official ground selection was held in mi d-2023. I was.

The Londoner Macau, which consists of five hotels: The Londonner Hotel, Londoner Court, Conrad Macau, The St. Regis Macau, and Sheraton Grand Macau, embodies the British style, tradition, and hospitality. There are many famous UK landmarks, including the construction of the Westminster Palace in London, the London symbol, which is familiar with Big Ben, which is named for every hour, and the real large replica of Elizabeth Tower. It is lined up.

The Londonner Macau has other attractions of the following resorts:

FAQ

What are the enhancements and additions announced by Las Vegas Sands (LVS) for The Londoner Macao?

The dignified facade, which imitates the Westminster Palace and the parliament, breathes back at Londoner Light and Sound SpectAcular at night.

When are the enhancements and additions to The Londoner Macao expected to be completed?

"Cabinet" performance by costumes inspired by the daily rituals at the Buckingham Palace

What are the features of The Londoner Macao?

A glas s-covered breeze that imitates Victoria Station in London.

Las Vegas Sets Foundations and Strategies for Recovery

Crystal Palace Atrium-Glass, Iron, and Marble A symbol of the Victorian dynasty design, and has a 10-story ceiling.

The famous Shaf Tuberry Memorial Fountain and Anteros statue in Piccadilly Circus in London are reproduced in full size.

The Londoner Macao also has three spas, four health clubs, more than 20 dining options, 150 worl d-famous brand boutiques, and a stat e-o f-th e-art conference facility including a new THE LONDONER ARENA with 6, 000 people. Masu. This integrated resort is connected to Sands CHINA's The Parisian® Macao, The Venetian® Macao, and The Plaza® Macao.

"Sands China is looking forward to the development of The Londoner Macao to the next stage, and I am looking forward to seeing the centers of efforts spent on this project for visitors." Dr. Wilfred Won, President of CHINA, stated.

The Londoner Macao's grand celebration in mi d-2023 was also a start of a new 1 0-year gaming concession in Sands China Macau. At the beginning of the new era, Sands China reconfirmed the commitment to Macau, Macau, and Macau economy, and pledged $ 3. 7 billion in Macau in the next 10 years.

Sands China will continue to provide local business development, social services, and to continue to be a place where Macau will live, to work, and continue to be sightseeing, and as a center of rich art and culture. We will support the regional contribution program to promote.

Las Vegas Sands website: https://www. 3blmedia. com/profiles/las-vegas-sands email: info@3blmedia. com

Source Las Vegas Sands

View the original text of the press release on Accesswire. com

Solid Grounds for Safe Meetings

Las Vegas Sands (LVS) has announced the renovation and relocation of the hotel, the expansion and addition of the Londoner Macao, including new dining, shopping, entertainment, health & wellness, including the hotel.

The renovation and expansion of The Londonner Macau will be completed by the beginning of 2025.

The Londonner Macau embodies the style, tradition, and hospitality of the UK, and features the famous UK landmark. There are three spas, four health clubs, more than 20 dining options, 150 worl d-famous brand boutiques, and stat e-o f-th e-art conference facilities, including the new The Londner Arena, which accommodates 6, 000 people.

The consumer electronics show (CES) 2021 would have made a grand debut if the West Hall expansion of the Las Vegas Convention Center, which was completed with $ 980 million, was on schedule. Instead, the technology blockbuster occupied more than 2. 9 million square feet in the city, appropriate for the beginning of the convention year, and became all virtuals in history.

CES 2021 anchor desk. Credit: Consumer Technology Association

The expansion of the 1. 4 million squar e-foot convention center includes a new 600, 00 0-squar e-footed exhibition space and an outdoor terrace on the third floor overlooking the scenery of the strip.

CES participants could not even experience the new underground transportation system "Vegas Loop", which cost $ 52 million of 200 acres of conventional facilities.

Of course, the mitigation of COVID-19 is completely different in how to measure the milestone. At the time of reporting, rally in Nevada remains limited to 50 or 25 % of the capacity of the venue, and the casino, restaurants, and bars are limited to 25 % of the capacity. It is a consolidated opinion of industry officials that the path to complete recovery and regeneration starts with an effective COVID-19 vaccination program.

In January, Governor Steve Sisolak Nevada announced a priority vaccination for people, regarded as essential to the state economy. This "Tier 1" workers include airports, resorts, casinos, and food service employees. The planned development has not yet been announced, but this strategy is an important first step to increase stability and trust over the next few months.

To promote and increase vaccine distribution in Las Vegas Valley, Win Las Vegas opened a COVID-19 Vaccination Center in the Convention Space in the Encore one week later, showing its unique strategic movement. Ta.

Founded in a partnership with the Minami Nevada University Medical Center (UMC), the facility will first vaccinates for people over the age of 70, healthcare professionals, and rescue workers on weekdays. In May 2020, Win Resorts partnered with UMC to provide highly reliable and accurate COVID-19 tests to all employees on-site. Win also announced its debut in early 2021 of the state-of-the-art COVID-19 inspection lab and mobile health app that can be used by resort guests.

Major New Developments Pave the Way for the Future

Las Vegas, on the other hand, has been putting billions of dollars in new resorts, facilities, infrastructure and attractions. The momentum of this investment has hardly declined, and Vegas after the pandemic is already being shaped. In the future, the fact that Las Vegas is destined to be a hig h-energy comeback, is the history of the past.

Just before midnight on New Year's Eve, Las Vegas stated a huge signboard with "Super Epic Monumental Kiss 2020 GOODBYE BLOWOWUT", followed by "What Happens in 2021, Happens in Vegas". Giant LED lighting signboard Was published.

Las Vegas's New Year's Eve's virtual event in 2021. Credit: Las Vegas Communication Bureau

For the experienced desactions that survive the recession, the Catalusis event was also a sign of optimism and confidence based on strategic countermeasures that have been implemented since the beginning of pandemic.

"The health and safety of visitors are always most important, so keep your hands, wash your hands, and wear a mask, and wear a mask, said," Las Vegas Tourism Bureau (LVCVA) vice president of the Tourism Bureau (LVCVA) (LVCVA). He has revealed his attention and has shown the normal cleaning and disinfecting protocols at resorts and venues with transparency. " "Las Vegas has one of the best operators in the industry, and they cooperate with state and local health authorities to determine, share, and implement best practices."

John Schlever, Vice President of LVCVA Business Sales

As a result, the LVCVA, which started in June 2020, has encouraged smart and responsible tourists in sightseeing spots with the resumption of the resort. "Meet Smart, Vegas Smart", which started last fall, is a ful l-city campaign that focuses on similar businesses, a protocol on health and safety at the Las Vegas Convention Center, a GBAC STAR certification at the venue, and Nevada. Includes information about the state COVID trace app and other tools for business visitors.

"Las Vegas is known for establishing a gold standard in the meeting and convention industry. It will now help build the trust of planners and groups.

There are many other things that are more confident. "There is a modern hotel that always offers upgraded technology, and Las Vegas is suitable for hybrid events." Las Vegas has the most hotels and meetings and exhibition space in the United States. It is suitable for a social distance, and a larg e-scale development has been completed, and it is also ahead of the world, so we can respond to the growing demand for travel and new experiences. You can do it in a unique position.

The World of Concrete, which has been changed from February to June as the first event of the new west hall, gathers more than 50, 000 participants in early 2020 and is now a larg e-scale holding of the Las Vegas Convention Center. It is the standard.

What are the messages from Schlevers to planners and participants?

"We are ready to welcome groups with a safe and responsibility as soon as the time comes," Until then, we are innovative, such as cleaning, disinfecting, touc h-like technology, and successful hybrid meetings. By incorporating technology, we will continue to build the trust of visitors. "

Las Vegas Resorts Signal Strength and Resiliency

Speaking of heavy construction, Las Vegas Raiders's new home base, the Allzant Stadium, has a 105, 000 cubic concrete and a 28, 000 tons of structural steel.

The dom e-type stadium, which accommodates 65, 000 people, has more than 10 groups. From three categories, Impactful, "Experience", and "Limitless", from credit one club, which was held safely last November, to those who charter all stadium facilities. Various options are available. Here are some other mega projects that change the scenery of Las Vegas.

Inside the arriant stadium. Providing YESCO and VOX

Circus, Resort & Casino, which has 777 rooms, is a new dynamic downtown description. The owners and developers Derek and Greg's Stevens brothers celebrate the past and present of Las Vegas on a $ 1. 1 billion adult tower equipped with Legacy Clubs and other facilities. The rooftop cocktail lounge inspired by the 11 Las Vegas founders has an outdoor terrace with a bonfire and a panoramic view.

Circa Sports, the world's largest sportsbook, offers private boxes for groups. Hosts can also reserve Circa's rooftop pool amphitheater, Stadium Swim. Stevens restored the famous Glitter Gulch neon cowgirl, "Vegas Vickie," and installed it in the lobby cocktail lounge.

Circa Resort & Casino. Courtesy of YESCO and VOX

Announced in 2013, Resorts World Las Vegas is set to make its long-awaited debut this summer. The $4. 3 billion, two-tower resort will offer 3, 500 rooms and 350, 000 square feet of flexible group space across three premium Hilton brands.

Other integrated features include a 5, 000-seat theater for events, a 222, 000-square-foot pool, and multiple dining concepts. Clark County has approved a passenger station and tunnel that will connect the resort to the Las Vegas Convention Center campus across the street via the Las Vegas Loop.

Hilton will also expand off-Strip with the addition of Virgin Hotels Las Vegas to the brand's Curio Collection. The 1, 505-room hotel, which will be built on the former site of the Hard Rock Hotel & Casino, is currently accepting reservations for April and is said to offer 130, 000 square feet of indoor and outdoor flexible space. As part of its global expansion, Connecticut-based Mohegan Gaming & Entertainment will operate the resort's casino, becoming Las Vegas' first tribal gaming operator.

Las Vegas Sands Corp. said in October 2020 that it was exploring the possible sale of its Venetian and Palazzo resorts and the Sands Expo Convention Center. Valued at $6 billion, the deal is linked to Sands' shifting focus to Asia and other gaming markets. According to gaming industry reports, Wall Street analysts see little change in this strategic direction following the death of Sands owner and Las Vegas visionary Sheldon Adelson in January of this year.

Currently, the next-generation 17, 500-seat MSG Sphere, the Venetian's concert and event venue, is projected to open in 2023.

Announced at CES 2021, Illuminarium Experiences is a 30, 000-square-foot tech-driven experiential venue scheduled to open in 2022 within the new immersive entertainment and event complex, AREA15.