Sands rolling happily along on Macau's pace
by Janice Huang
Macau's gambling market has grown steadily for four consecutive quarters, says Sheldon Adelson, chairman and chief executive of Las Vegas Sands Corp.
Revenue of Sands China (1928) increased 23 percent to US$1.82 billion (HK$14.1 billion) in the second quarter of this year driven by growth in mass gaming and non-gaming segments. It also continues to develop VIP operations.
Net profit rose by 37.6 percent year on year to US$326 million compared to US$237 million in the second quarter of 2016.
Adjusted property earnings before interest taxes, depreciation and amortization also saw an increase, 23 percent, in the second quarter of this year to US$600 million compared with last year mainly due to mass market revenue growth and increased hotel capacity.
The Parisian Macao, opened in September, saw revenue up 13.5 percent from US$318 million in the first quarter to US$361 million in the second. The Venetian Macao generated revenue of US$687 million in the second quarter.
Source: The Standard