Sands China Ltd, a premium casino operator in Macau, announced that game volume during the current Lunar New Year holiday hit the highest level in three years and has fully recovered from the Covid-3 related situation.
break even
Commenting on the rapid recovery rate after Sands China's Macau resort reopened on January 1, said Robert Goldstein, Chairman and CEO of Las Vegas Sands, the operator's parent company. "We're past break-even and we're in very positive territory," he said, adding, "I don't think break-even is a consideration anymore. I think it's already passed." increase.
high number of visitors
According to Inside Asian Gaming, these comments are being hailed by investors as a much-needed positive signal after three years of uncertainty and heavy losses from border closures.According to the same source, visitor numbers to Macau have risen steadily since reopening, reaching 3 on Tuesday during the Lunar New Year holiday, still below the level of 9, but up from the last three. It is said that it recorded the highest number of visitors per day in a year.
GGR Exceeding Visitor-Based Expectations
However, Sands China revealed that the revenue recovery has exceeded visitor-based parameters. ”Grant Chum, COO and Executive Director of Sands China, said, “What we are seeing is that the quality of patronage is very high across all segments.” “We are seeing a very strong recovery. If you look at the number of visitors to Macau, which is currently hovering around 2019% of what it was during the Lunar New Year 40, our revenue and volume are down from that number of visitors. It outperforms recovery.”
Mr Cham continued. ”So I think we shouldn't get too hung up on recovering visitor numbers. With a reopening like this, the premium customers come back first, so what we're looking at is revenue and patronage. The quality of visits is very, very high, far exceeding the recovery of visits in terms of volume and revenue.In addition, looking at the number of visitors to our facilities, the recovery rate of visitors to our (Sands) facilities is , far outstripping the recovery rate of the market as a whole.
Resilience and liquidity expected to continue
Goldstein, president of Las Vegas Sands, added that the soaring numbers stem from table and slot game occupancy rates nearing 100% recently. “At our facility in Macau, you can play from HK$1 (US$1,500) for a single play. This is a big bet, but the problem now is that we can't get seats at such games. 190% to 95% uptime for games, same for slots and ETG,” said Goldstein, adding:
"The big issue we think is premium mass, but when that number comes out, you'll be pleasantly surprised. You'll see elasticity and liquidity in that segment as well. is in very positive territory.
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