Adjusted EBITDA for Sands China Ltd. (SCL) was US$610 million, an increase of 5 per cent against prior year’s fourth quarter, SCL announced today on the Hong Kong Stock Exchange.
Total net revenues for SCL increased 12.0 per cent to US$1.86 billion in the fourth quarter of 2016, compared to $1.66 billion in the fourth quarter of 2015.
Net income for SCL decreased 7.9 per cent to US$348 million in the fourth quarter of 2016, compared to $378 million in the fourth quarter of 2015.
On a US GAAP (generally accepted accounting principles) basis, full year 2016 total net revenues for Sands China Ltd. decreased 2.5 per cent to $6.69 billion, compared to $6.86 billion in 2015.
Net income for Sands China Ltd. decreased 15.9 per cent to $1.22 billion in 2016, compared to $1.45 billion in 2015.
The Parisian Macao, which opened on September 13, 2016, generated growth of 16 per cent in the mass gaming segment. This result was SCL’s strongest growth in Macao since the second quarter of 2014.
The Parisian Macao’s revenue was US$ 344 million and adjusted property EBIDTA was US$95 million during its first full quarter of operation, resulting in an adjusted property EBITDA margin of 27.6 per cent. Hotel occupancy was 91.1 per cent with an Average Daily Rate of US$138.
The Venetian Macao generated revenue of US$707 million and adjusted property EBITDA of US$262 million in the fourth quarter, with an adjusted property EBITDA margin of 37.1 per cent.
Revenue and adjusted property EBITDA for the fourth quarter of 2016 at Sands Cotai Central were US$444 million and US$132 million, respectively, resulting in an adjusted property EBITDA margin of 29.7 per cent.