The company expects May to be similar to April and stated that “based on the preliminary information available, net revenues, operating loss, net loss and adjusted property EBITDA loss in May 2020 were not materially different”.
The company announced it has “a strong balance sheet and sufficient liquidity in place to fund its operations for 12 months in the current operating environment”.
The losses Sands face seem to reflect the overall market situation in Macau. GGR in Macau fell by nearly 97% in April, recording a 99% decline in visitation. May experienced a 93% drop in GGR to MOP$1.76 billion.
