Sands China Ltd continues to turn its finances around, posting a total of USD849 million in net revenue in the second quarter (Q2) of 2021 — a 10.1% uptick from the $771 million in preceding quarter.
According to the latest quarterly financial report released by the group yesterday, Sands China also registered a narrowed net loss in Q2 2021, totaling $166 million. This is a stark difference compared to its net loss of $549 million in the second quarter of 2020.
Meanwhile, the adjusted property earnings before interest, taxes, depreciation and amortization (EBITDA) stood at US$132 million for Q2 2021, far outperforming the EBITDA loss of $312 million for the second quarter of 2020.
“We remain enthusiastic about the opportunity to welcome more guests back to our properties as greater volumes of visitors are eventually able to travel to Macau and Singapore,” Robert G. Goldstein, chairman and chief executive officer of Las Vegas Sands Corp, the parental company of Sands China, stated in its financial report.
Among Sands China’s properties, The Venetian Macao reported net revenue of $391 million, contributing the largest portion of the group’s total revenue in the reported quarter. The lion’s share of all revenue made by the property came from a total of $307 million from casinos. This was then followed by $49 million in profits from the mall and US$24 million from hotel rooms.
Meanwhile, The Londoner Macao registered a net revenue of $189 million, US$133 of which came from casinos. However, it posted an EBITDA loss of US$5 million.
Meanwhile, The Parisian Macao, The Plaza Macao and Sands Macao reported their net revenues of $101 million, $125 million, and $42 million respectively.
“Demand for our offerings from customers who have been able to visit remains robust, but pandemic-related travel restrictions in both Macau and Singapore continue to limit visitation and hinder our current financial performance,” Goldstein added.
For the group’s business in Singapore, Marina Bay Sands posted a net revenue of $327 million in Q2 2021, showing a drop from the US$426 million reported in the preceding quarter. The resort’s adjusted property EBITDA also fell from US$144 million in Q1 2021 to US$112 million in Q2 2021.
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