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Sands China Limited Experiences Premium Large Game Sales Recover

PREMIUM MATS segment's total gaming revenue is recovering and is now around 50% of pre-pandemic levels, it said.

The fact comes as Hong Kong-listed COO Grant Tsum Kuan-lak is in a conference call with investors to discuss first-quarter financial results. Sources said the company posted premium large gaming revenue of $336 million in the three months to the end of March, up 12% from the previous quarter but down 57% from the same period last year in the region.

It says total gaming revenue from his company's VIP operations has recently been "struggling" and is currently at around 20% of pre-pandemic levels. The executive reportedly declared that the two high value-added sectors were recently following a "very different trajectory," mostly attributable to "structural changes" in the Macau market, including "more and more customers directly dealing with casino operators" rather than junkets.



Sands China Limited is a subsidiary of the U.S. casino giant Las Vegas Sands Corporation, responsible for the impressive Sands Macao, Venetian Macao, The Plaza Macao, and The Parisian Macao properties along with the development of the new-look The Londoner Macao. The company has been hit hard by the impact of the coronavirus pandemic, with net total revenue for the first quarter of 2020 down 65.1% year-over-year to just $814 million.



"All operators have attracted more consumers to premium mass programs and we expect this to continue over time. In March, we started to experience a fairly significant rebound from visits that continued in April. This acceleration is seen across different sectors, and encouragingly, the underlying mass has been accelerating since March."



According to reports, he and Robert Goldstein, chairman and chief executive of Las Vegas Sands Corporation, said the Macau casino market has been gradually recovering 'overall' in recent years, and his company expects this encouraging trend to 'continue to accelerate'. The president has also reportedly declared that his company is ready to invest in non-game facilities in the region as a way to ensure an extension of the local casino permit beyond  expiration date.
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