Parent company increases Sands China’s annual cap transportation, logistics, technical services

The parent company of Sands China, the Macau gaming operator, Las Vegas Sands Corp. has increased the annual cap on logistics, transportation, and technical services.

The $8.8 million cap for the fiscal year that ends on December 31 has been raised to $10.8 million. Following the lifting of travel restrictions in late 2022 and early 2023, Sands China attributed the rise to “increased business volume”.

The amending agreement also broadened the range of services that Las Vegas Sands provided to Sands China, enabling Sands China to use any vehicle that the Las Vegas Sands group owns or has access to.

In Macau’s Cotai area, Sands China is the owner and operator of many resorts, including the Venetian Macao, Parisian Macao, and Londoner Macao. In the peninsula of the city, it also manages the Sands Macao casino hotel.

Sands China reported adjusted property EBITDA of $1.57 billion for the first nine months of 2023, as opposed to a $273 million deficit during the same time the year before. With $4.70 billion in net sales for the quarter, there was a 297.0% yearly increase.

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Original story by: GGRAsia