Macau complications make for tough H1 for Las Vegas Sands

Minor contractions in net revenues were reported for The Venetian Macao, 7% to $1.42bn, and Sands Cotai Central, 18% to $1.003bn, showcasing the difficulties in a market where gross revenue for Macau casinos has dropped year-on-year for the past 25 months in succession.

However, the decline rate has slowed this year, with June’s year-to-date total being 107.79bn patacas ($13.49bn), as opposed to a 37% downturn at this point last year, to 121.65bn patacas.

Sands Chairman and CEO Sheldon Adelson said: “The operating environment in Macao remained challenging during the quarter; but we do see signs of stabilisation, particularly in the mass market. Our mass gaming revenues in the month of June 2016 increased versus the same month in 2015, the first year-on-year monthly mass gaming growth we have experienced in nearly two years.”

Net income for the period fell 33% to $803.4m and earnings per share went down $0.41 to $0.82 on both a basic and diluted basis.

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David Cook

Editor

David Cook served as an editor and writer for Gambling Insider from 2018 to 2020, where he played a central role in shaping the publication’s editorial direction. He oversaw the creation and implementation of the broader editorial strategy for Gambling Insider and its related publications, managing the production of 30 print magazines annually while also contributing to the management of GamblingInsider.com and a weekly digital newsletter.

During his tenure, David led the publication’s largest editorial team to date, guiding its expansion and ensuring consistent, high-quality output across all channels. He also hosted and helped launch the GI Huddle podcast, a project he was proud to bring from concept to reality.

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