Sands China reports US$678m half-year profitBusiness | 11 Aug 2017 8:09 pm
Sands China (1928), which operates casino resorts in Macau reported today half-year proft increased by 23 percent to US$678 million.
Basic earnings per share was HK 65.49 cents for the six months ended June 30, 2017, comapred with HK 52.91 cents in the year before period.
Profit increased mainly due to the opening of The Parisian Macao, the company said.
Net revenues were US$3.7 billion, an increase of 19.5 percent from US$3.09 billion for the first half of 2016.
Net revenues increased in all business categories, mainly driven by the opening of The Parisian Macao in September last year and the recovery of the Macau gambling market.
Casino revenues were US$3.11 billion, an increase of 19.4 percent, compared with US$2.61 billion in the first half of last year. The increase was attributable to US$595 million of net casino revenues at The Parisian Macao, partially offset by a US$96 million decrease at Sands Cotai Central driven by a decrease in gaming volume, as well as a lower win percentage for table games, the company reported.
Sands China did not declare an interim dividend.
In July, Sands China won the prestigious Best of Show – Brand award at The Marketing Events Awards 2017 North Asia for the opening of The Parisian Macao (pictured).
Sands China picked up five gold for Best Large Event, Best Product Launch Event, Best Use of Venue, Best Event – Design and Best VIP Event; a silver for Best Media Event; and three bronzes in the Most Innovative Event, Best Use of Influencer / Advocates and Best Event Targeted Community categories.
Gene Capuano, senior vice president of conventions & Venetian operations, Sands China said it was an honor for The Parisian Macao to be recognized.
Inspired by the famed "City of Light”, The Parisian Macao is Sands Resorts Macao’s newest integrated resort. It features a half-size replica of the Eiffel Tower which sits majestically at the hotel’s entrance, and includes integrated resort facilities, 3,000 rooms and suites, convention and meeting space, international restaurants, spa, kids’ club, health club, pool deck with themed water park, along with a 1,200-seat theater and entertainment.