Las Vegas Sands Corp, Sands China's parent company, lost a total of $985m during Q2, with net revenue standing at $98m, a 97% drop from $3.33bn the previous year.
Sands China Ltd experienced a net loss of $549m for the three months until June 30, a massive drop compared to the net income of $511m the previous year.
Sands China faces a 98% decline in net revenue, bringing in only $47m, while the previous year saw revenue at $2.15bn.
The Venetian Macao earned $28m, compared to $854m in Q2 2019. Sands Cotai Central fell from $483m the previous year to $10m this quarter.
The Plaza and Four Seasons dropped to $23m from $211m the previous year, and the Parisian Macao brought in $19m, a decline from $414m in 2019. Net revenue in Marina Bay Sands, the group’s property in Singapore, fell by almost 97%, earning $23m compared to $688m in Q2 2019.
Las Vegas Sands chairman and CEO Sheldon Adelson expressed the group’s commitment to helping the affected communities in Macau, Singapore and Las Vegas.
The group remains optimistic about the renewed tourism and future prospects, stating: “We are fortunate that our financial strength will enable us to continue to execute our previously announced capital expenditure programs in both Macau and Singapore while continuing to pursue growth opportunities in new markets."
