Sands China Loses Over $400m In Q3 But Remains Optimistic

Sand China Ltd which is a subsidiary of Las Vegas Sands Corporation has reported a loss of over $423 million for the third quarter ending Sep 2021. Sand China focuses mainly on the Macau gaming market and has been hit hard due to the COVID-19 pandemic. It’s third quarter losses are even worse than its second quarter losses of $166 million.

However, compared to last year’s losses of $562 million, it is still a major improvement. The losses were caused by as Chinese authorities started another crackdown on the gambling industry, as well as the strict travel restrictions due to the coronavirus pandemic.

However, it was not all bad for Sands China. Those losses are after all the various deductions and fees.

Earnings before interest, taxation, depreciation and amortization (EBITDA) was positive, which is a good sign for the returning strength of the gambling sector. EBITDA numbers were set at $32 million which is a positive number. This is a big improvement to the EBITDA loss of $233 million in the same period last year.

Source: https://www.legalgamblingandthelaw.com/news/ands-china-loses-over-400-million-in-third-quarter-but-remains-optimistic/