Sands China (1928) posted a 50 percent year-on-year decline in its net income to US$107 million (HK$834.6 million) for the second quarter.
Total net revenues edged down 0.8 percent to US$1.78 billion in the period, according to an exchange filing.
Its adjusted property earnings before interest, taxes, depreciation and amortization fell 24 percent to US$430 million, impacted by the exceptionally low VIP rolling hold of 1.35 percent for the quarter.
For the first half of the year, adjusted property EBITDA decreased 3.45 percent to US$1.06 billion.
The Macao gaming giant saw a decrease in visitation by high-value patrons to both Marina Bay Sands and Macao properties during the World Cup football tournament, which was particularly noticeable in June, given the trajectory of the businesses in both markets earlier in the quarter.
In Macao, its ongoing investments in enhanced service and hospitality offerings contributed to growth in volumes across all gaming segments as compared to the prior year, although unusually low hold in rolling play negatively impacted our reported financial results for the quarter, said Patrick Dumont, chairman and chief executive officer of its controlling shareholder Las Vegas Sands.
Sands China said its growth in gaming volumes exceeded the growth of the overall Macao market, with rolling volume, non-rolling drop, and slot & electronic table game handle up 73 percent, 15 percent, and 30 percent, respectively.
Its mass gross gaming revenue also grew twice as fast as the overall market at 8 percent. Total gross gaming revenue rose by 4 percent, while that of the Macao market was flat for the quarter.
