- Total net revenues
increased 36.3% to a record US$1,628.6 million (HK$12,628.0 million)
- Rolling Chip Volume increased
45% to a record US$36,035.6 million (HK$279,416.4 million)
- Non-Rolling Chip win
increased 36% to a record US$658.4 million (HK$5,105.2 million)
- Adjusted EBITDA
increased 24.1% to a record US$485.1 million (HK$3,761.4 million)
- Net income increased 16.8%
to US$328.2 million (HK$2,544.8 million)
- Adjusted profit
increased 25.8% to US$367.1 million (HK$2,846.5 million), excluding pre-opening
expenses related to Sands Cotai Central
(Macao, November 8, 2012) – Sands
China Ltd. (HKSE: 1928) announced today a strong performance in its third
quarter, with double-digit increases in all three key performance indicators:
revenue, adjusted EBITDA and income.
Total net revenues
increased 36.3% to US$1,628.6 million (HK$12,628.0 million) for the third
quarter of 2012, compared to US$1,194.8 million (HK$9,311.6 million) for the
third quarter of 2011.Adjusted EBITDA for the quarter increased 24.1% to
US$485.1 million (HK$3,761.4 million), compared to US$390.9 million (HK$3,046.4
million) for the same quarter 2011. Net income increased 16.8% to US$328.2
million (HK$2,544.8 million) for the third quarter of 2012, compared to
US$281.1 million (HK$2,190.7 million) for the third quarter of 2011. Excluding
pre-opening expenses related to Sands Cotai Central, adjusted profit increased
25.8% to US$367.1 million (HK$2,846.5 million) for the third quarter of 2012,
compared to US$291.7 million (HK$2,273.3 million) for the third quarter of 2011.
The Venetian® Macao Third Quarter Operating
Results
The Venetian Macao
continued to enjoy strong visitation and financial performance. The property delivered
record adjusted property EBITDA of US$299.1 million, an increase of 18.2%
compared to US$253.1 million in the third quarter of 2011. The property
recorded a higher than expected Rolling Chip win percentage of 3.32%, compared
to 2.66% in the third quarter of 2011. Mall revenues increased 17.5% during the
quarter compared to the quarter last year.
Sands® Macao Third Quarter Operating
Results
Sands Macao’s
adjusted property EBITDA was US$80.6 million, an increase of 6.5% compared to last
year, while the adjusted property EBITDA margin increased 90 basis points to
25.7%. Non-Rolling Chip drop was US$739.0 million during the quarter, an
increase of 2.3%, despite 72 fewer Non-Rolling chip tables in operation during
the quarter. Slot handle increased 11.1% to US$596.3 million.
The Plaza™ Macao Third Quarter Operating Results
Rolling Chip volume at
The Plaza Macao reached US$8.96 billion for the quarter, an increase of 115.4%
compared to the third quarter of 2011. Non-Rolling Chip drop was a record US$110.8
million. Slot handle was US$214.8 million during the quarter, an increase of 6.6%
compared to the third quarter of 2011. Mall revenue increased 10.0% to US$23.1
million.
Sands® Cotai Central Third Quarter
Operating Results
The first phase of
Sands Cotai Central opened on April 11, 2012. The second phase opened on
September 20, 2012, adding additional mass gaming capacity, approximately 1,800
Sheraton-branded hotel rooms and additional retail amenities to the property
for the last eleven days of the quarter. Sands China Ltd. anticipates
that the subsequent phase of the development will complete in the first quarter
of 2013. Net revenues and adjusted property EBITDA for the third quarter of 2012
were US$293.6 million and US$53.4 million respectively, resulting in an EBITDA
margin of 18.2%. Rolling Chip volume reflected meaningful growth and reached
US$9.06 billion while Non-Rolling Chip drop reached US$542.0 million with
Non-Rolling Chip win percentage of 20.7%. Hotel occupancy reached 88.9% during
the quarter with an Average Daily Rate of US$149.
Sands China Ltd. has published
its full set of results for the fiscal third quarter ended September 30, 2012 on
the websites of The Stock Exchange of Hong Kong Limited and Sands China Ltd.
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About Sands China Ltd.
Sands China Ltd. (HKEx: 1928, Sands China or the Company) is a subsidiary
of global resort developer Las Vegas Sands Corp. (NYSE:LVS), and is listed on The
Stock Exchange of Hong Kong Limited. Sands China is the largest operator
of integrated resorts in Macao. The Company’s Cotai Strip® development
includes The Venetian® Macao-Resort-Hotel, The Plaza™ Macao and Sands®Cotai Central. The Company also owns and operates the Sands®
Macao on the Macao peninsula. The Company’s integrated resorts contain a
diversified mix of leisure and business attractions and transportation
operations, including large meeting and convention facilities, a wide range of
restaurants, shopping malls, world-class entertainment at the CotaiArena™ and
the Venetian Theatre, and a high-speed Cotai Water Jet ferry service between
Hong Kong and Macao. The Company’s property development projects on Cotai
have the goal of transforming Cotai into Asia’s premier entertainment and
business destination.
For more information, please visit www.sandschinaltd.com.