Gaming

Sands China posts USD 245 M net losses in Q4 2021

Monday 31 de January 2022 / 07:07

⏱ 1 min read

(Macau).- Sands China posted a net loss of US$245 million in the last quarter of last year, the Macau casino operator has announced.

Sands China posts USD 245 M net losses in Q4 2021

For the same period of 2020, the company had posted a loss of US246 million the group indicated in the results reported to the Hong Kong stock exchange by the Las Vegas Sands Corporation.

Last year, Sands China saw net revenues rise 70.4 per cent compared to 2020, to US$2.87 billion, while losses narrowed in 2021, to US$1.05 billion from US$1.52 billion in 2020.

Earnings before tax, interest, depreciation and amortisation (EBITDA) in the last quarter of 2021 were US$74 million compared with US$47 million in the corresponding period in 2020.

CEO of parent company Las Vegas Sands Corp Robert Goldstein said “results continue to reflect the impact of the pandemic” as travel restrictions continue to “affect the number of visitors” to Macau. “We remain confident in the eventual recovery,” he stressed.

Since the start of the pandemic, Macau has recorded 79 confirmed cases and maintains strong border restrictions, defined by a ‘zero case’ Covid-19 policy.
The borders are only open to Chinese citizens and residents of the territory, and compulsory quarantines of different durations are imposed, depending on the place of origin.

Currently, those arriving in the territory from the adjacent city of Zhuhai must present a negative test certificate, issued 24 hours before.

Categoría:Gaming

Tags: Sin tags

País: Macao

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