Sands China Reports $1.58 Billion Loss for 2022

The full yearly results for Sands China showed a $1.58 billion loss for 2022 with casino revenues dropping by 52.3% for the year to $947 million, showing a bigger loss than the entire revenue recorded.

Indeed there was not much joy for the parent company either Las Vegas Sands which showed an operating loss in Q4 of $166 million, this is despite showing an increase in revenues of 10% to $1.11 billion.

Net revenues for Sands China reflected the ongoing restrictions over the year due to COVID but the companies group CEO said that Sands was optimistic in Macau and believed it would be able to turn fortunes around.  Sands said that it already had invested $15 billion in Macau and recently was awarded a continuation for another 10 years.

Rob Goldstein the CEO said: “we believe the Macau market will recover and will benefit in the future from the meaningful infrastructure investments being made in Macau and throughout the Greater Bay Area”.

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Sands China Reports $1.58 Billion Loss for 2022
Source: Trend Philippines News