Sands China Ltd. has reported total Q1 net revenue of US$771m, a 5% year-on-year decline. Net loss for the company was US$213m, compared to US$166m in the first quarter of 2020. Adjusted property EBITDA for Q1 2021 was US$100m, against US$67m the previous year.
While the negative figures was impacted by the travel restrictions and closures caused by the pandemic, Las Vegas Sands CEO Robert G. Goldstein was positive about the future.
“We remain confident in the eventual recovery in travel and tourism spending across our markets. We remain deeply committed to supporting our team members and to helping those in need in each of our local communities as they recover from the impact of the COVID-19 pandemic.”
"Demand for our offerings from our customers who have been able to visit remains robust, but pandemic-related travel restrictions, particularly in Macau and Singapore, continue to limit visitation and hinder our current financial performance,” Goldstein added.
“We are fortunate that our financial strength supports our investment and capital expenditure programs in both Macao and Singapore, as well as our pursuit of growth opportunities in new markets,” Las Vegas Sands CEO concluded.
Source: GMB
