Macau casino operator Sands China ended the year with a profit increase of 31 percent, reaching US$1.6 billion, according to a preliminary results filing from the operator on Thursday.
Net revenues for the year reached US$7.7 billion, increasing 16 percent, while adjusted property EBITDA increased 16.4 percent to US$2.6 billion.
“Market conditions in Macau improved meaningfully during the year… the Parisian Macao, our latest integrated resort on Cotai, enjoyed a very successful first full year of operation,” said Sheldon Adelson, chairman and chief executive of Sands China.
The company said it saw strength from its mass gaming segment, supporting by increased patronage with hotel accomodation, retail shopping and entertainment events.
“Sands China has now invested approximately US$13.0 billion to deliver on our promise to help
Macao in its economic diversification and its continued evolution into the world’s leading business and leisure tourism destination,” said Adelson.
“We look to the future with confidence. We have a strong organic growth outlook that will continue to benefit from our industry-leading investments, our unmatched scale, the secular growth in Chinese middle-class wealth creation and increasing demand for travel and entertainment,” he added.