Sands China, a major gaming operator in Macau, has announced its first dividend in five years. The company revealed on Friday that it will pay a final dividend of HK$0.25 ($0.032) per share for the financial year ending December 31st, 2024.
The dividend will be distributed on June 20th to shareholders registered by May 30th.
The decision was widely anticipated by investment analysts. Based on the number of shares outstanding as of January 31st, 2025, the total dividend payout is expected to be approximately HK$2.02 billion ($260 million), according to the company’s statement.
In a separate release, Sands China reported a profit of $1.05 billion for the year ending December 31st, 2024, marking a 51 percent increase from $692 million the previous year. The company also noted that its total net revenues for 2024 reached $7.08 billion, up 8.4 percent from $6.53 billion in 2023.
Net casino revenues totaled $5.35 billion, a 10.4 percent increase compared to $4.84 billion in 2023. This growth was mainly driven by higher table games and slot volumes, reflecting increased visitation across Sands China properties, though it was partially offset by declines in rolling chip win and slot hold percentages.
In his statement, Chairman Robert Glen Goldstein reaffirmed that the company expects to have largely completed the Londoner capital investment program by the second quarter of 2025. Phase 2 of the transformation of The Londoner Macao includes the renovation of the Sheraton and Conrad hotels, as well as the revamp of the Pacifica casino space into the Londoner Grand Casino.
Goldstein also noted that the company’s ten-year gaming concession, which began in early 2023, has paved the way for significant capital investments in 2024. “We are pleased with the opportunity to further our decades-long commitment to enhancing the tourism appeal of Macao and supporting its development as a global tourism hub,” Goldstein said. “To date, we have invested approximately $17 billion to help Macau diversify its economy and evolve into Asia’s leading leisure and business tourism destination.”
This investment includes over 10,000 hotel rooms and suites, approximately 2.1 million square feet of retail space, and around 1.7 million square feet of MICE (Meetings, Incentives, Conferences, and Exhibitions) capacity.
