Sands China has confirmed the full opening of all 2,405 rooms and suites at the newly refurbished Londoner Grand, just in time for the upcoming May Golden Week holiday.
This marks the near completion of the USD1.2 billion second phase of The Londoner Macao’s transformation.
The Londoner Grand, formerly known as Sheraton Grand Macao, has undergone a substantial overhaul aimed at repositioning the property for the premium mass market.
The renovation has dramatically reduced the number of rooms from over 4,000 to a more curated mix of 1,500 suites and 905 standard rooms, aligning with Sands China’s strategy to capture higher-value guests.
Speaking during Las Vegas Sands’ first-quarter 2025 earnings call, Sands China CEO and president Grant Chum described the reopening of the full room inventory as a turning point for the company.
He noted that while the redeveloped product is now in place, the full financial impact will be realized gradually.
“We now have the 2,400 rooms and suites in full service. And you’ll see us leveraging the asset, the new product, to drive customer growth and, obviously, eventually, revenues and EBITDA. But the ramp up will take its course over the next twelve months,” Chum told analysts.
“We’re still at the early stages of it. We just got the full complement of rooms in mid-April. As for the other properties, our intention is to maintain and grow each of the existing properties while Londoner is ramped up,” he added.
The prolonged renovation had previously affected Sands China’s performance, as the project significantly reduced available room capacity, limiting the company’s ability to capture high visitation periods.
Sands China’s total net revenues decreased 5.7% to USD1.7 billion compared to the first quarter of 2024. Net income for the gaming operator was USD202 million, down from USD297 million in the same period last year.
Meanwhile, Chum said the company intends to balance its focus between driving growth at The Londoner and maintaining performance at its other Macau resorts, including The Venetian, Parisian, Four Seasons, and Sands Macao.
The executive said future investments would be focused on routine updates rather than large-scale redevelopments. “The major redevelopment and upgrading at the Londoner is largely complete,” he explained.
“We’ll have a few more amenities to add and restaurants. But from here on, […] we will continue to reinvest back into the asset base because we need to upgrade and keep up with the competition.
LVS withdraws from
New York casino bid
Las Vegas Sands Corp. (LVS) has opted out of bidding for one of up to three commercial casino licenses available in downstate New York, president and COO Patrick Dumont disclosed.
He explained that the firm would instead prioritize capital allocation toward share repurchases for both Las Vegas Sands and Sands China.
“For Las Vegas Sands, we believe the highest and best use of our capital in the near term is to purchase LVS and SCL shares. Accordingly, LVS has decided not to bid for casino license in New York,” Dumont said.
LVS had previously expressed strong interest in building a multi-billion-dollar integrated resort on Long Island’s Nassau Coliseum site. Despite stepping back, Dumont reaffirmed the site’s potential and revealed ongoing talks with third parties who may pursue the project.
Concerns over the impact of potential iGaming legalization in New York played a role in the move, Dumont noted.
Meanwhile, LVS has increased its share buyback authorization to USD2 billion.
No Comments