Sands China Expects Profits Boost from Gaming Tables
The Macau casino operator, Sands China Ltd, which is controlled by billionaire Sheldon Adelson, is expected to see a boost in revenues and profits after it received government approval to add 200 more gaming tables.
The approval was announced by Sands China Chief Executive Officer Edward Tracy in a press conference last Monday.
It is thought that the gambling operator will see around $500 million in added revenue each year from the new tables.
It will also get an extra $200 million of Ebitda, earnings before interest, taxes, depreciation and amortisation each year.
Sands China and its rivals such as Galaxy Entertainment Group Ltd, have been expanding on Macau’s popular Cotai strip for the past few years.
The Cotai strip has become Asia’s Las Vegas and Sands is planning to invest a minimum of $2.5 billion to build its fifth resort, The Parisian, in Macau.