Sands China reports 24pc profit drop in H1 amid Macau market pressures

Sands China (1928) posted a 24 percent decline in first-half net profit to US$413 million (HK$3.22 billion), the casino operator said on Friday, while maintaining its interim dividend at 25 HK cents per share. 

The weaker performance reflects ongoing competitive challenges in Macau's gaming market.

The company's net revenue decreased 1.7 percent year-on-year to US$3.49 billion, primarily due to a 3 percent drop in casino revenue to US$2.62 billion.

 Key properties including The Venetian Macao and Parisian Macao experienced double-digit percentage declines in gaming revenue as competition intensified in the world's largest gambling hub.

Revenue performance varied across different business segments. Room revenue showed resilience with a 3 percent increase to about US$410 million, while shopping mall revenue grew 8 percent to US$250 million. However, food and beverage revenue declined 9 percent to US$120 million during the period.

STAFF REPORTER