Sands China reports HK$1.65 billion loss in Q1 while its EBITDA rises by nearly 50%

Sands China (1928) has announced its total net revenues fell by 4.6 percent year-on-year to US$771 million (HK$6 billion) in the first quarter of 2021. This translated to a net loss of US$213 million (HK$1.65 billion) in the first three months of this year, compared to US$166 million in the same period of 2020.

Adjusted property EBITDA stood at US$100 million in the first quarter of 2021, a year-on-year increase of 49.3% against US$67 million in the previous year.

The Venetian Macao recorded net revenue of US$340 million, up by 8% compared to US$315 million for the same period in 2020; revenue for the Londoner Macao declined by 19%. Meanwhile, the Parisian Macao recorded $87 million in revenue, a 38% drop.

Robert Goldstein, chairman and chief executive officer of Las Vegas Sands, parent company of Sands China, said: “Demand for our offerings from our customers who have been able to visit remains robust, but pandemic-related travel restrictions, particularly in Macao and Singapore, continue to limit visitation and hinder our current financial performance.”