Analysts say the US-based gambling empire’s move shows the high level of confidence that it has for its Macao-based subsidiary.
Las Vegas Sands
A US$1 billion refurbishment will see revamps of the two of the resort’s five hotels, updating rooms that haven’t been refreshed since the resort was known as Sands Cotai Central.
CEO Robert Goldstein said he was ‘pleased to see the ongoing recovery now underway in all gaming and non gaming segments progress during the quarter.’
Robert G. Goldstein, chairman and chief executive officer of Las Vegas Sands, Sands China’s controlling shareholder, said he was pleased to see recovery “accelerate during the quarter”.
CEO Robert Goldstein remains ‘deeply confident’ in future of Macao and considers it an ideal market for additional capital investment.
Blame lies with Covid-19’s effect on Macao; CEO bullish on company’s future prospects, pointing to robust customer demand.
Move comes as gaming industry gears up for new licence tenders later this year and increasing unease over possible legal liabilities.
Integrated resorts like The Venetian and Four Seasons perform better but both Sands Macao and newly opened Londoner fare poorly.
Las Vegas Sands Corp. named acting Chief Executive Officer Robert Goldstein as permanent CEO following the death of Sheldon Adelson.
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