https://www.scmp.com/rss/245991/feed Sands China Limited is an integrated resort developer and operator in Macau and a subsidiary of Las Vegas Sands Corp, the owner of The Venetian Las Vegas and The Palazzo. It mainly operates in five segments in Macau: The Venetian Macao, Sands Macao, The Plaza Macao, Sands Cotai Central and ferry and other operations. Its business involves gaming areas, meeting space, convention andexhibition halls, retail and dining areas and entertainment venues. en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com The stock sell-off in Hong Kong has galvanised some of the biggest companies to rush out their buy-back programmes, with WuXi Biologics, Meituan and Swire Pacific aided by US$2.37 billion of support. Casino operator Sands China got US$249 million of backing from its parent. WuXi Biologics set aside US$600 million to repurchase its shares from the market, according to an exchange filing on Wednesday. The biotech firm suffered a 30 per cent rout in the preceding two days, crashing its market value... https://www.scmp.com/business/china-business/article/3244059/wuxi-meituan-swire-and-sands-china-get-us26-billion-stock-buying-support-hong-kong-stem-market-rout?utm_source=rss_feed https://www.scmp.com/business/china-business/article/3244059/wuxi-meituan-swire-and-sands-china-get-us26-billion-stock-buying-support-hong-kong-stem-market-rout?utm_source=rss_feed Wed, 06 Dec 2023 08:30:59 +0000 Mia Castagnone,Salina Li Mia Castagnone,Salina Li Macau’s casino operators will invest a combined 108 billion patacas (US$13.5 billion) to host conferences and sporting events and promote family entertainment over the next 10 years in response to the government’s call to help Asia’s gambling hub diversify its economy away from the industry. Each of the six operators – MGM Grand Paradise, Galaxy Casino, Venetian Macau, Melco Resorts Macau, Wynn Resorts Macau and SJM Resorts – will be spending hundreds of millions of dollars on new facilities and... https://www.scmp.com/business/companies/article/3203691/macaus-casino-operators-reveal-new-theme-parks-theatres-10-year-plan-diversify-citys-economy-away?utm_source=rss_feed https://www.scmp.com/business/companies/article/3203691/macaus-casino-operators-reveal-new-theme-parks-theatres-10-year-plan-diversify-citys-economy-away?utm_source=rss_feed Sat, 17 Dec 2022 09:53:17 +0000 Macau’s government signed contracts with six companies to renew their casino licences for the next 10 years in the world’s gambling hub, hot on the heels of easing Covid-19 quarantine rules for inbound visitors, including those from Hong Kong. Chief Executive Ho Iat-seng, Secretary for Administration and Justice Andre Cheong and Secretary for Economy and Finance Lei Wai Nong signed the concession agreements for the territory’s government, according to a live-stream of the proceedings by Macau... https://www.scmp.com/business/companies/article/3203604/macau-signs-pacts-6-casino-licensees-hot-heels-easing-covid-19-quarantine-rules?utm_source=rss_feed https://www.scmp.com/business/companies/article/3203604/macau-signs-pacts-6-casino-licensees-hot-heels-easing-covid-19-quarantine-rules?utm_source=rss_feed Fri, 16 Dec 2022 10:02:23 +0000 Macau’s government will sign contracts with the six winning casino concessionaires on Friday, according to a source. Last month, MGM Grand Paradise, Galaxy Casino, Venetian Macau, Melco Resorts Macau, Wynn Resorts Macau and SJM Resorts were awarded 10-year licences that run from January 1, 2023 to December 31, 2033. The announcement wrapped up a year-long jostling for the rights to operate gambling halls in the only place on Chinese soil where casinos are legal. The bidding process, which kicked... https://www.scmp.com/business/companies/article/3203301/macau-sign-licensing-agreements-6-winning-casino-operators-friday-source-says?utm_source=rss_feed https://www.scmp.com/business/companies/article/3203301/macau-sign-licensing-agreements-6-winning-casino-operators-friday-source-says?utm_source=rss_feed Wed, 14 Dec 2022 10:29:15 +0000 Mia Castagnone,Peggy Sito Mia Castagnone,Peggy Sito Macau’s government has renewed the concession periods of the city’s six incumbent gambling concessionaires for another 10 years, rejecting the Malaysian tycoon Lim Kok Thay’s surprise bid break into the world’s largest casino hub. MGM Grand Paradise Limited, Galaxy Casino Company, Venetian Macau, Melco Resorts Macau, Wynn Resorts Macau and SJM Resorts were awarded the six concessions, starting from January 1, 2023 through December 31, 2033, according to a statement by the territory’s... https://www.scmp.com/business/companies/article/3201080/macau-rejects-malaysias-genting-renewing-six-casino-licences-incumbent-operators?utm_source=rss_feed https://www.scmp.com/business/companies/article/3201080/macau-rejects-malaysias-genting-renewing-six-casino-licences-incumbent-operators?utm_source=rss_feed Sat, 26 Nov 2022 03:52:12 +0000 Martin Choi,Peggy Sito,Mia Castagnone Martin Choi,Peggy Sito,Mia Castagnone Seven companies conducted a beauty parade before Macau’s authorities in a closely watched contest for the right to operate half a dozen casino licences in the world’s largest gambling hub. The seven companies comprised all six existing casino operators whose current licenses are due to expire on December 31, plus a wild card bid by GMM Limited, a subsidiary of Malaysian casino operator Genting Malaysia, which is controlled by local tycoon Lim Kok Thay. The bids were presented to the Committee... https://www.scmp.com/business/article/3192707/seven-operators-vie-six-macau-casino-licences-bids-open-worlds-gambling?utm_source=rss_feed https://www.scmp.com/business/article/3192707/seven-operators-vie-six-macau-casino-licences-bids-open-worlds-gambling?utm_source=rss_feed Fri, 16 Sep 2022 06:00:33 +0000 Macau’s authorities will solicit public opinion to overhaul the city’s gambling laws, sending the shares of casino operators plunging in a US$17 billion wipeout, as the proposed revisions portend heightened scrutiny of capital flows and daily operations. The 45-day consultation will ask the public to give their feedback on a raft of rules including additional government oversight, permission for the remittances of dividends, and a proposal to slash the number of gambling tables. JPMorgan Chase... https://www.scmp.com/business/companies/article/3148858/macau-puts-casinos-cross-hairs-stem-capital-flows-and-tighten?utm_source=rss_feed https://www.scmp.com/business/companies/article/3148858/macau-puts-casinos-cross-hairs-stem-capital-flows-and-tighten?utm_source=rss_feed Wed, 15 Sep 2021 12:30:23 +0000 Macau’s government has extended the gambling licenses of SJM Holdings and MGM China Holdings by two years, putting them on equal footing with four other casino concessionaires that operate in the world’s largest gaming hub. The concessions of SJM and MGM China will expire on June 26, 2022, the same as Sands China, Wynn Macau, Galaxy Entertainment Group and Melco Resorts & Entertainment Limited. SJM and MGM China will have to pay 200 million patacas (US$24.7 million) each for the extension. The... https://www.scmp.com/business/companies/article/3001800/macau-extends-gambling-licenses-sjm-and-mgm-china-until-2022?utm_source=rss_feed https://www.scmp.com/business/companies/article/3001800/macau-extends-gambling-licenses-sjm-and-mgm-china-until-2022?utm_source=rss_feed Fri, 15 Mar 2019 04:07:57 +0000 Sands China, the Macau casino operator controlled by the American Sheldon Adelson, has not suffered any decline in revenue from high-stakes gamblers as the mainland's economic growth slows. The firm's business is expected to be "very strong", and the second half is traditionally better than the first, chief executive Edward Tracy said. Mainland public holidays in the latter half of the year would boost growth, he said. "We don't see anything on the horizon that's troubling," Tracy said. Improved... https://www.scmp.com/business/companies/article/1270567/china-slowdown-fails-hurt-sands-macau?utm_source=rss_feed https://www.scmp.com/business/companies/article/1270567/china-slowdown-fails-hurt-sands-macau?utm_source=rss_feed Thu, 27 Jun 2013 16:00:00 +0000 We hear there is light at the end of the tunnel for HSBC customers who have suffered dismay and distress when, on arriving in foreign parts, they weren't able to use their ATM card to withdraw cash. The problem is because HSBC's new ATM cards, with an embedded chip, no longer use the Plus payment network, but the UnionPay network, which has limited use outside Asia. UnionPay is the dominant payment network in China, and operates under the auspices of the central bank. Lai See has received... https://www.scmp.com/business/article/1261120/hsbc-end-unionpay-chaos-new-plus-atm-card?utm_source=rss_feed https://www.scmp.com/business/article/1261120/hsbc-end-unionpay-chaos-new-plus-atm-card?utm_source=rss_feed Fri, 14 Jun 2013 16:00:00 +0000 Sands China, the Macau arm of US casino mogul Sheldon Adelson, has entered into a licensing agreement with DreamWorks Animation SKG to host animated characters including Kung Fu Panda Po, Shrek and King Julien of Madagascar at its three Cotai Strip resorts. It will be the first DreamWorks Experience outside North America, where there are already 10 locations, said the studio's chief executive, Jeffrey Katzenberg. The deal will come into effect on July 1. The reason we've come here is because... https://www.scmp.com/news/china/article/1226966/sands-dreamworks-strike-macau-casino-licence-deal?utm_source=rss_feed https://www.scmp.com/news/china/article/1226966/sands-dreamworks-strike-macau-casino-licence-deal?utm_source=rss_feed Tue, 30 Apr 2013 12:45:23 +0000 Macau gaming stocks typically rebound as the Lunar New Year approaches, in expectation of mainland visitors flocking to the city's casinos over the holiday period. This year, visitor arrivals did not disappoint, and share prices duly went up. On Wednesday, 114,500 mainland visitors were estimated to have arrived in Macau, according to data from the government's tourist office, up 36 per cent from last year. The numbers are expected to continue rising for the rest of the week. "We would not be... https://www.scmp.com/business/money/markets-investing/article/1150470/jump-mainland-visitors-boosts-price-gaming-stocks?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1150470/jump-mainland-visitors-boosts-price-gaming-stocks?utm_source=rss_feed Thu, 14 Feb 2013 16:00:00 +0000 Speculation over a crackdown by Beijing on gambling in Macau affected the performance of the casino operator Sands China, which reported a subdued 9 per cent net increase in profit to HK$$9.58 billion for last year. The release yesterday of a "preliminary announcement of annual results" for the year ended December 31 came after speculation in international media that the mainland government was poised to crack down on Macau's junket operators. The South China Morning Post reported yesterday that... https://www.scmp.com/business/companies/article/1145594/sands-china-hit-crackdown-gambling-junkets-talk?utm_source=rss_feed https://www.scmp.com/business/companies/article/1145594/sands-china-hit-crackdown-gambling-junkets-talk?utm_source=rss_feed Thu, 07 Feb 2013 16:00:00 +0000 Sands China, the Macau operation of US casino magnate Sheldon Adelson, is poised to further expand its share of the city's lucrative gaming industry after posting hefty gains in last year's final quarter. "In Macau, we delivered record financial results with outstanding growth and strong operating momentum reflected in every segment of our business," said Adelson, the chairman and chief executive of the parent firm, Las Vegas Sands. Hong Kong-listed Sands China reported yesterday a 52.3 per cent... https://www.scmp.com/business/companies/article/1140045/weak-las-vegas-dampens-strong-profits-sands-macau-singapore?utm_source=rss_feed https://www.scmp.com/business/companies/article/1140045/weak-las-vegas-dampens-strong-profits-sands-macau-singapore?utm_source=rss_feed Thu, 31 Jan 2013 02:30:01 +0000 Sands China shares rose 1.6 per cent yesterday after the casino operator said it had received government approval for 200 more gaming tables. There was little change in the benchmark Hang Seng Index. Some of the new gaming tables would be added before the Lunar New Year holiday, which starts on February 10, Sands China chief executive Edward Tracy said. The Macau arm of gaming mogul Sheldon Adelson's Las Vegas Sands is the second-largest player in the world's No 1 gaming hub, with a market share... https://www.scmp.com/business/money/markets-investing/article/1138941/sands-china-shares-rise-clearance-200-more-gaming?utm_source=rss_feed https://www.scmp.com/business/money/markets-investing/article/1138941/sands-china-shares-rise-clearance-200-more-gaming?utm_source=rss_feed Tue, 29 Jan 2013 16:00:00 +0000 Sands China is expected to build a bigger stake in Macau's gaming market after gaining market share and posting better-than-expected profits in the third quarter. The Hong Kong-listed firm's share of gross gaming revenue in Macau rose to 19.3 per cent in the third quarter from 14.3 per cent last year, which translates to 35 per cent growth in market share, said Sheldon Adelson, the chairman of Sands China and its New York-listed parent, Las Vegas Sands. "Our industry-leading scale and... https://www.scmp.com/business/companies/article/1074831/sands-share-macau-revenue-rises-19pc?utm_source=rss_feed https://www.scmp.com/business/companies/article/1074831/sands-share-macau-revenue-rises-19pc?utm_source=rss_feed Fri, 02 Nov 2012 16:00:00 +0000 Hong Kong-listed Sands China, an arm of Las Vegas casino mogul Sheldon Adelson's Sands Corp, said net profit rose 6.4 per cent to US$279.3 million for this year's first quarter from US$262.4 million a year earlier. Sands China's net revenue for the quarter rose 25.1 per cent to US$1.45 billion, from US$1.16 billion in the same period last year. The Venetian, the firm's giant casino on the Cotai strip, 'delivered solid growth in gaming volumes in each segment of the business', it said in a filing... https://www.scmp.com/article/1000592/venetian-high-roller-sands-china?utm_source=rss_feed https://www.scmp.com/article/1000592/venetian-high-roller-sands-china?utm_source=rss_feed Wed, 09 May 2012 16:00:00 +0000 A maiden HK$4.67 billion dividend payout by Sands China may point the way to more distributions by other cashed-up Macau casino companies, say analysts. Sands China, 70.3 per cent owned by gaming magnate Sheldon Adelson's Las Vegas Sands, said yesterday it would pay a HK 58 cents-per-share interim dividend to shareholders of record as of February 20. The payout makes Sands China the third of the six Hong Kong-listed Macau casino operators, after SJM and Wynn Macau, to pay a dividend, and... https://www.scmp.com/article/991406/sands-china-joins-payout-club-hk467-billion-maiden-dividend?utm_source=rss_feed https://www.scmp.com/article/991406/sands-china-joins-payout-club-hk467-billion-maiden-dividend?utm_source=rss_feed Tue, 31 Jan 2012 16:00:00 +0000 Sands China's net income rose 41.2 per cent year on year to US$281 million in the third quarter with no sign that tightening credit on the mainland is hitting its VIP business, which relies heavily on private loan facilities from the mainland. The Hong Kong-listed subsidiary of Las Vegas-based Sands, which is run by gambling tycoon Sheldon Adelson, said its new property, Sands Cotai Central, is on track to open in the first quarter next year. The property, which has 1,800 rooms and one casino, ... https://www.scmp.com/article/984339/sands-eyes-strong-vip-gains-despite-credit-crunch?utm_source=rss_feed https://www.scmp.com/article/984339/sands-eyes-strong-vip-gains-despite-credit-crunch?utm_source=rss_feed Tue, 08 Nov 2011 16:00:00 +0000 Shares in Sands China, the Macau unit of billionaire Sheldon Adelson's Las Vegas Sands, plunged yesterday after the company said it was being investigated by Hong Kong's Securities and Futures Commission (SFC). In the latest twist in a bribery probe into the company's practices in Macau, Sands China said in statement that the stock market regulator had asked it to 'produce certain documents', without giving details. A person familiar with the case clarified that the SFC's actions were related... https://www.scmp.com/article/963819/sands-shares-plunge-sfc-probe?utm_source=rss_feed https://www.scmp.com/article/963819/sands-shares-plunge-sfc-probe?utm_source=rss_feed Thu, 31 Mar 2011 16:00:00 +0000