Sands China reports $2bn profits

Sands China has reported profits of over US$2bn for the year 2019, which was an 8.4 per cent advance over the previous year’s figure.

Net revenues of over US$8.8bn represented a 1.7 per cent increase. The statement from chairman and CEO Sheldon Adelson noted: “Sands China has now invested nearly US$14bn to deliver on our promise to help Macau in its economic diversification and its continued evolution into the world’s leading leisure and business tourism destination.

“Over the next two years we will increase our total investment to over US$15bn as we make additional investments to expand the market-leading scale of our hotel room, retail and entertainment offerings on Cotai.”

He added: “Despite the current impact from the Covid-19 coronavirus, we look to the future with confidence. We have a strong organic growth outlook that will benefit from our industry-leading investments and unmatched scale as economic growth, wealth creation and increased demand for travel and entertainment continues in Asia.”

Separately, Sands China announced that its casino operations at Sands Cotai Central will resume operations on February 27, with all its other casinos having already reopened.