Macau casino operator Sands China has not been spared by the impact of the coronavirus in Macau, posting only US$9 million in net revenues in April, leading to a net loss of $180 million.
This was according to a business update from the operator on Monday, noting that it has enough liquidity to keep its operations running for 12 months in the current operating environment.
Under the current conditions, Sands China is exposed to monthly operating costs of around $110 million each month, in addition to development and maintenance capital expenditures of approximately $65 million and interest expenses of $25 million.
However, Sands China said it has taken various mitigating measures to get through the current environment, including a cost reduction program to minimize cash outflow of non-essential items, as well as not recommending payment of a final dividend for 2019.
Sands said it has around $2.4 billion in liquidity in place to keep its operations running for 12 months in the current operating environment.
“SCL believes it will be able to support its continuing operations, complete the major construction projects that are underway, and respond to the current COVID-19 Pandemic challenges,” said the company.