Las Vegas Sands increases for Phase 2 of Londoner Macao transformation

Las Vegas Sands Corp., the parent company of Macau-based operator Sands China Ltd., upped its investment from the previously disclosed US$1.0 billion to US$1.2 billion in Phase 2 of the Londoner Macao casino complex.

This updated investment plan was disclosed on the company’s fourth-quarter results presentation slide.

Phase 2 of the Londoner Macao project, which is situated in the Cotai district of Macau, began construction in November with the goal of finishing by Chinese New Year 2025, which is the busiest time of year for the local casino business.

According to the presentation slide from Wednesday, phase two would include remodeling the Sheraton and Conrad hotels as well as refurbishing the Pacifica casino. The business also intends to improve its website by adding additional options for eating, shopping, entertainment, and activities.

Sands China’s new president and CEO, Grant Chum Kwan Lock, said during a conference call with investment analysts that the Sheraton hotel renovations had started and will last through 2024, with a completion date of the first quarter of 2025. He was aware that construction activities might cause delays, especially in the second half of the year, depending on permits and the schedule of work on the Sheraton side of the casino floor.

Mr. Chum said that Phase 2 of the Londoner Macao renovation would proceed in a manner similar to Phase 1, which included refurbishing the Holiday Inn hotel tower. Throughout, he underlined the company’s commitment to portfolio optimization.

Sands Among the resorts in the Cotai region of the city that are run by Chinese people are the Venetian Macao, the Parisian Macao, and the Sands Macao on the Macau peninsula.

Although the rebuilding timeframe may alter while gaining permissions, Mr. Chum said that the business anticipates considerable progress by 2025, especially in improving Londoner Macao’s hotel inventory and gaming floor services.

Original story by: GGRAsia