Sands China Ltd, the Macau subsidiary of US casino giant Las Vegas Sands, has reported a net loss of US$246 million for the three months to 31 December 2020, impacted by a 69.9% decrease in net revenues to US$672 million.
However, the figures represented steady improvement compared with the third quarter of 2020, when the company suffered a US$562 million loss on revenues of just US$167 million. Quarter-on-quarter, Sands China’s net revenues grew more than 300% in Q4.
The results included Adjusted Property EBITDA of US$47 million across Sands China’s Macau properties, improved from an Adjusted EBITDA loss of US$233 million in 3Q20 although well down on Adjusted EBITDA of US$811 million in the final quarter of 2019.
Total net revenues for Sands China Ltd through FY20 fell 80.8% versus 2019 to US$1.69 billion, with a net loss of US$1.52 billion compared with net income of US$2.04 billion in 2019.
Parent company LVS reported group-wide net revenue of $1.15 billion in 4Q20, down 67.3% year-on-year, with a net loss of US$376 million. FY20 net loss was US$1.69 billion.
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