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Business
August 15, 2022
Sands China Announces Significant Interim Losses
Macau-based integrated resort developer and operator Sands China released its financial results for the year’s first half. The company reported losses of $760 million (HK$5.96 billion), compared to $381 million (HK$2.96 billion) in H1 2021. Sands China explained the poor performance to the impact of the COVID-19 pandemic. Sands China Continues to Suffer from COVID […]
Casino
July 21, 2022
Sands China Embraces the End of the VIP Salons in Macau Casinos
Sands China has announced it is restructuring its VIP rooms at its Macau properties as the era of the junkets and VIP salons in Macau casinos are coming to an end with new gambling regulations from mainland China. New Gambling Legislation for Macau As a result of COVID measures, China’s National Immigration Administration (NIA) has […]
Business
July 11, 2022
Las Vegas Sands Provides Sands China with a $1B Loan
Las Vegas Sands, а world leader in developing and operating international, world-class integrated resorts, has issued a loan to its Chinese arm. As per the agreement, Sands China will receive a $1 billion subordinated unsecured term loan. Sands China Considers the Terms Fair The loan was issued on July 11, 2022 and Sands China will […]
Casino
April 29, 2022
Junkets Debacle Pose no Threat to Sands China
The fall-from-grace by Macau junket operators has exposed certain operators to subsequent risks of being caught in the cross-fire between wronged VIP players and junkets that have disappeared from the market, unable to repay customers. This has posed a serious threat to the order of things in Macau with concessionaires fearing retribution. Some, such as […]
Casino
April 19, 2022
Sands China Let Go of 3,000 Non-local Workers since the Start of the Pandemic
Sands China’s president, Wilfred Wong has stated that Sands China has fired more than 3,000 non-local workers since the start of the pandemic. Although he did not reveal the number of local workers that were laid off, he confirmed that 75% of the current employees are Macau residents. Non-local Workers Number in Macau’s Six Concessionaires […]
Business
February 18, 2022
Sands China Unlikely to Pay Dividends Until 2024, Asserts Analyst
In February 2020, Sands China shareholders were given $0.127 per share they held in the form of a dividend. For that, the Las Vegas Sands-led company shelled out $1.03 billion. That was the last time dividends were paid and, according to Sanford C. Bernstein’s lead analyst for Asia, shareholders shouldn’t expect another one anytime soon. […]
Business
September 29, 2021
Sands China Redeems $1.8 Billion in Senior Notes Two Years Early
Sands China has completed an exercise that allows it to reduce the weight of its leveraged debt. The Asian arm of casino operator Las Vegas Sands submitted a filing to the Hong Kong Stock Exchange (HKSE) yesterday, explaining that it had redeemed $1.8 billion in senior notes. The move comes on the heels of another […]
Casino
September 9, 2021
Sands China Experiences $125-Million Net Loss in August
Sands China Ltd, a Macau gaming concessionaire and the Asian arm of Las Vegas Sands, states that it fell to a $125 million net loss and $14 million adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) loss in the month of August. According to the company, the main reason behind the losses is the […]
Business
July 8, 2021
Sands China Announces Third Waiver to Its $3bn Facility Agreement
Sands China entered into its third waiver extension regarding its $3 billion 2018 SCL Credit Facility. Under the third waiver extension, the company extended the loan period and amended conditions without suffering penalties. Sands China Amends and Extends Credit Facility Agreement Sands China, the subsidiary of US-based operator Las Vegas Sands (LVS), announced Wednesday that […]
Casino
June 2, 2021
Casino Operators in Macau Initiate COVID-19 Employee Vaccinations
Casino operators in Macau are joining the fight against COVID-19 by organizing vaccinations for their employees. SJM has announced that it plans to launch a massive vaccination program, while Sands China already started vaccinating its employees and their families. SJM to Launch a Massive Vaccination Program To fight against COVID-19, Health Officials in Macau have […]