The Las Vegas Sands Corp. announced its fourth quarter results for 2006 today, and in Macau, revenue increased 6.5 per cent to US$99.4 million at the Sands Macao. For all of 2006, revenue rose 27 per cent to US$343.3 million, up from US$270 million in 2005.
“In Asia, we delivered another strong quarter at The Sands Macao, with our mass market, VIP and slots businesses all reflecting increases in gaming win compared to the quarter one year ago,” William P. Weidner President and Chief Operating Officer for Las Vegas Sands Corp said. “For the fourth quarter total, despite the addition of incremental capacity in the marketplace, we captured 19 per cent of the table game market in Macao.”
He said the Venetian Macao is on track to open this summer and construction or preconstruction activities have commenced on all of Las Vegas Sands’ seven sites on the Cotai Strip.
Weidner is also optimistic toward the leasing of retail space and MICE (meetings, incentives, conventions and exhibitions) business at the Venetian Macao.
“We have also made strong progress in the leasing of our retail space and the development of our convention, tour and travel, and corporate meetings businesses on The Cotai Strip,” he said.
In neighboring Zhuhai, he said the Las Vegas Sands Corp is making significant strides toward the development of the Venetian Hengqin International Convention and Resort Project, although it remains subject to governmental approvals.
On February 8 in Singapore, the Marina Bay Sands breaks ground. Slated to open in 2009, Marina Bay will have 2,500 rooms, 1.2 million sq. ft of meetings space, 1 million sq. ft. of retail as well as gaming and entertainment venues.
