Casino
April 19, 2022
Sands China Let Go of 3,000 Non-local Workers since the Start of the Pandemic
Sands China’s president, Wilfred Wong has stated that Sands China has fired more than 3,000 non-local workers since the start of the pandemic. Although he did not reveal the number of local workers that were laid off, he confirmed that 75% of the current employees are Macau residents. Non-local Workers Number in Macau’s Six Concessionaires […]
Business
February 18, 2022
Sands China Unlikely to Pay Dividends Until 2024, Asserts Analyst
In February 2020, Sands China shareholders were given $0.127 per share they held in the form of a dividend. For that, the Las Vegas Sands-led company shelled out $1.03 billion. That was the last time dividends were paid and, according to Sanford C. Bernstein’s lead analyst for Asia, shareholders shouldn’t expect another one anytime soon. […]
Business
September 29, 2021
Sands China Redeems $1.8 Billion in Senior Notes Two Years Early
Sands China has completed an exercise that allows it to reduce the weight of its leveraged debt. The Asian arm of casino operator Las Vegas Sands submitted a filing to the Hong Kong Stock Exchange (HKSE) yesterday, explaining that it had redeemed $1.8 billion in senior notes. The move comes on the heels of another […]
Casino
September 9, 2021
Sands China Experiences $125-Million Net Loss in August
Sands China Ltd, a Macau gaming concessionaire and the Asian arm of Las Vegas Sands, states that it fell to a $125 million net loss and $14 million adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) loss in the month of August. According to the company, the main reason behind the losses is the […]
Business
July 8, 2021
Sands China Announces Third Waiver to Its $3bn Facility Agreement
Sands China entered into its third waiver extension regarding its $3 billion 2018 SCL Credit Facility. Under the third waiver extension, the company extended the loan period and amended conditions without suffering penalties. Sands China Amends and Extends Credit Facility Agreement Sands China, the subsidiary of US-based operator Las Vegas Sands (LVS), announced Wednesday that […]
Casino
June 2, 2021
Casino Operators in Macau Initiate COVID-19 Employee Vaccinations
Casino operators in Macau are joining the fight against COVID-19 by organizing vaccinations for their employees. SJM has announced that it plans to launch a massive vaccination program, while Sands China already started vaccinating its employees and their families. SJM to Launch a Massive Vaccination Program To fight against COVID-19, Health Officials in Macau have […]
Casino
December 16, 2020
The Londoner Macao Set to Open Ahead of the Chinese New Year
Sands China is planning on opening its newly-rebranded The Londoner Macao property, GGRAsia reported, noting the availability of bookings for stays at the resort starting from January 22. Phase 1 Celebration According to the press release issued by the Chinese subsidiary of Las Vegas Sands (LVS) on Tuesday, the company is scheduling an official ceremony […]
Business
December 11, 2020
Sands China and LVS Renew Their Shared Services Agreement
Sands China, the Asia-Pacific subsidiary of Las Vegas Sands (LVS), announced it renewed a Shared Services Agreement with its parent company to continue to utilize marketing services from LVS targeted at international VIP clients and premium players. The renewed services agreement is set to run for 3 years from January 1, 2021, to December 31, […]
Casino
September 14, 2020
Sands China Entered into Credit Facility Waiver Extension
Sands China informed its investors last week that a facility agreement between the company and its main creditor, Bank of China Limited has been amended. The $2 billion revolving unsecured credit facility available to the operator until July 21, 2023, had two financial covenants, a consolidated leverage ratio and a consolidated interest coverage ratio, renegotiated. […]
Business
June 3, 2020
Sands China Issues $1.5B of Unsecured Debt to Boost Liquidity
Sands China Ltd, a subsidiary of casino giant Las Vegas Sands (LVS), announced in a filing to the Hong Kong Exchange (HKEX) it entered into agreement for the issuance of senior unsecured notes to the amount of $1.5 billion. The proposed debt is being offered and sold only to Professional Investors that are qualified institutional […]