Coronavirus-related third-quarter disappointment for Sands China Limited

Macau casino operator Sands China Limited has reportedly recorded a net loss of $423 million for the three months to the end of September as it continues to deal with the turmoil caused by the ongoing coronavirus pandemic.

According to a report from Inside Asian Gaming, the deficit for the Las Vegas Sands Corporation subordinate nevertheless represented an improvement of 24.7% when compared with the $562 million loss it chalked up for the same three-month period in 2020 despite being some 154% higher than the previous quarter’s shortfall of $166 million. The source detailed that the company’s latest financial figures were significantly hurt by the recent reintroduction of a number of travel restrictions following a small outbreak of coronavirus in Macau.

Retreating receipts:

Sands China Limited is responsible for the impressive The Venetian Macao, Sands Macao, The Plaza Macao and The Parisian Macao properties in addition to the new-look The Londoner Macao development. The Hong Kong-listed firm reportedly saw its associated third-quarter net revenues plummet by slightly over 28% quarter-on-quarter to $611 million although this disappointing tally was still far above the meagre $167 million it brought in for the same three-month period in 2020.

Source: https://news.worldcasinodirectory.com/coronavirus-related-third-quarter-disappointment-for-sands-china-limited-97568