Sands China Reports H1 2011 Results

Sands China has reported its unaudited consolidated results for the six months ended 30 June 2011.

Adjusted EBITDA for the six months ended 30 June 2011 was US$754.9 million, an increase of US$200.5 million, or 36.2%, compared to US$554.4 million for the six months ended 30 June 2010.

Net revenues were US$2,360.8 million for the six months ended 30 June 2011, an increase of US$380.3 million, or 19.2%, compared to US$1,980.5 million for the six months ended 30 June 2010.

Net revenues increased in all segments, driven by strong visitation resulting in part from continuous efforts in marketing, a stable macroeconomic environment in China, as well as the group’s focus on driving the high-margin mass market gaming segment, while continuing to provide luxury amenities and high service levels to its VIP premium and junket players.

Profit for the six months ended 30 June 2011 was US$539.5 million, an increase of US$289 million, or 115.4%, compared to US$250.5 million for the six months ended 30 June 2010.

Sands China is making solid progress on the development of its next integrated resort development in Macau, the Sands Cotai Central. The first phase is scheduled to open in Q1 2012.

Once phases 1 and 2 have been completed, this integrated resort will feature approximately 5,800 hotel rooms, approximately 300,000 square feet of gaming space, approximately 1.2 million square feet of retail, entertainment and dining facilities, exhibition and conference facilities, and a multipurpose theater. 

See recent travel news from: Travel News Asia, Sands, Sands China, Macau