Sands China Limited enjoyed a strong 2012, reporting a 25.5% increase in adjusted pre-tax earnings to US$1.97 billion on net revenues that were up 33.4% to $6.51 billion
The Macau gaming giant attributed the gains to a number of factors, principally the opening of Sands Cotai Central in two stages in April and September and strong visitation across the company’s four-property portfolio in both the mass-market and VIP segments.
Profit for the year was up 27.8% to $1.52 billion, excluding one-time losses related to the relinquishing of two land parcels on Cotai, pre-opening expenses related to the opening of Sands Cotai Central and closure of the ZAiA production show at The Venetian Macao.
“Our properties continue to generate market-leading visitation, and in 2012 we welcomed over 46 million visitors to our Cotai Strip properties, including over 5 million in the month of December alone,” said Sheldon Adelson, chairman of Hong Kong-listed SCL (HK: 1928) and chairman and CEO of Las Vegas-based, US-listed parent Las Vegas Sands (NYSE: LVS).
SCL’s Cotai resorts include The Venetian and the Plaza Macao. The company also operates Sands Macao on the Macau peninsula.
The company last week announced across-the-board 5% raises for full-time staff, effective 1st March, and said it is paying bonuses to eligible full-time employees.
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