Sands confidence in further growth

Las Vegas Sands has set its sights on further growth in Macau, after its success in the region drove revenue up to USD10.38 billion.

The US-based casino operator has highlighted the extent of growth in Macau that following the removal of Covid-19 related restrictions that affected the sector for nearly three years.

Sands CEO and chairman Rob Goldstein said the operator is of the view that the Macau market will continue to grow, projecting that the market could reach as high as USD40 billion.

“It has only been one year since the end of Covid in Macau. […] We began in quarter one with USD400 million EBITDA. In quarter two, we achieved USD540 million, and in quarter three, we reached USD630 million, and the growth just keeps coming. We look forward to continued growth in both gaming and non-gaming revenue, which will lift overall market performance.”

“There is ongoing speculation about the future growth of Macau. Can the Macau market grow to USD30 billion, USD35 billion, or even USD40 billion and beyond? We believe that it will. This underscores our confidence in the returns generated by the capital investment programs in our portfolio.”

Goldstein expressed further that the company’s successful The Londoner property could perhaps even exceed the earning power of the nation.

Revenue from Macau operations amounted to USD6.56 billion, a surge from USD1.63 billion in the previous year. The stand-out venue in the region was the Venetian Macao, where revenue jumped 293.3% to USD2.68 billion.

Meanwhile, revenue at The Londoner was 412% higher, at USD1.79 billion.LV