Financial Performance - For the year ended December 31, 2019, net revenue was $8,810,000,000, an increase of 1.7% compared to $8,670,000,000 for the year ended December 31, 2018[4] - Operating expenses for the year ended December 31, 2019, were $6,530,000,000, remaining stable compared to $6,510,000,000 for the year ended December 31, 2018[4] - Profit for the year ended December 31, 2019, was $2,030,000,000, an increase of 8.4% from $1,870,000,000 for the year ended December 31, 2018[4] - Adjusted property EBITDA increased by 3.7% to $3,190,000,000 for the year ended December 31, 2019, compared to $3,080,000,000 for the year ended December 31, 2018[4] - The company reported a significant increase in revenue, achieving $1.3 billion in the last quarter, representing a 15% year-over-year growth[27] - User data showed a 20% increase in active users, reaching 5 million by the end of the quarter[27] - The company provided an optimistic outlook, projecting a revenue growth of 10-12% for the next fiscal year[27] - New product launches are expected to contribute an additional $200 million in revenue over the next year[27] - The company recorded an adjusted property EBITDA of $3,190,000,000, representing a 3.7% increase year-over-year, with an EBITDA margin of 36.3%[32] - Net revenue increased by 1.7% to $8,810,000,000, while annual profit grew by 8.4% to $2,030,000,000[32] Visitor Statistics - In 2019, Sands China properties attracted a total of 98.2 million visitors, averaging approximately 269,000 visitors per day[8] - The total number of website visits increased by 8% to approximately 23,500,000 in 2019[5] - Online channel views across all properties recorded approximately 6,700,000,000 views in 2019, an increase of 11% compared to 2018[5] - The Cotai Water Jet ferry service carried approximately 4.8 million passengers in 2019, averaging 13,000 passengers daily with 39 round trips provided each day[7] - The company hosted 921 events, attracting around 898,000 visitors, including 600,000 attendees at 33 exhibitions and trade fairs[10] - The PLPEX 2019 attracted around 20,000 visitors, showcasing the company's ability to draw significant crowds to its events[11] - The 2019 Macao International Trade and Investment Fair attracted approximately 50,000 visitors, highlighting the company's role in facilitating major trade events[11] Market Expansion and Partnerships - Collaborated with leading mobile payment applications Alipay and WeChat Pay, driving transactions valued at approximately MOP 5,800,000,000 in 2019, the highest in the Macau market[5] - Conducted the third "US MICE Activation" event in seven major cities in the US to expand the MICE market[5] - Announced the addition of The Venetian Macao and Parisian Macao to the InterContinental Hotels Group in June 2019, enhancing regional business and sales networks[5] - Sands China continues to enhance brand awareness through marketing activities across various regions, including China, Hong Kong, and the United States[7] - The company is expanding its market presence in Asia, targeting a 25% increase in market share by 2025[27] Awards and Recognition - Sands China has received multiple awards for its customer service and sustainable development efforts, reinforcing its position as a leading integrated resort in Asia[12] - The company received multiple awards in 2019, including the "Best International Gaming Property Experience (Gold)" at the Prevue Visionary Awards[17] - The company was ranked third among the best hotels in Macau according to the Forbes Travel Guide[16] - The company achieved a four-star rating from the Forbes Travel Guide for its Macau properties[14] - The company’s restaurant, 紫逸軒, received a one-star rating in the 2020 Michelin Guide for Hong Kong and Macau[16] - The company’s hotel, 澳門巴黎人, was recognized as one of the most popular resort hotels in China at the 2019 Golden Pillow Awards[14] - The company’s restaurant, 皇雀印度餐廳, was awarded a one-star rating in the Michelin Guide Hong Kong Macau 2020[13] - The company’s hotel, 澳門百利宮, was ranked sixth among the best hotels in Macau by DestinAsian readers[15] - The company’s hotel, 澳門金沙, was awarded the Best International Gaming Property Experience (Gold) at the 2019 Prevue Visionary Awards[17] - The company’s hotel, 澳門喜來登大酒店, was recognized as a top hotel in the 2019 Condé Nast Traveler list[13] - The company’s spa, 銥瑞水療, was awarded the 2019 Macau Best Hotel Spa at the World Spa Awards[14] Operational Developments - The company operates several properties in Macau, including The Venetian Macao, Sands Cotai Central, Parisian Macao, and Four Seasons Hotel Macao, with a total of 11,393 hotel rooms and suites as of December 31, 2019[56] - The Venetian Macao had approximately 36 million visitors in the year ending December 31, 2019, with a gaming area of about 374,000 square feet, featuring 656 gaming tables and 1,668 slot machines[58] - The total retail space across all properties is approximately 2,056,000 square feet, with 811 retail outlets and 158 restaurants as of December 31, 2019[56] - The Sands Cotai Central is undergoing a transformation into The Londoner Macao, with completion expected in phases during 2020 and 2021, adding approximately 600 suites post-renovation[57] - The company plans to enhance its integrated resort offerings, including the renovation and expansion of Sands Cotai Central into The Londoner Macao[40] Financial Health and Investments - The company has invested nearly $14,000,000,000 in Macau's economic diversification, including over 12,000 hotel rooms and 2,000,000 square feet of retail space[32] - Future investments will exceed $15,000,000,000, including approximately 600 new luxury suites at The Londoner Macao[32] - The company has a strong balance sheet with sufficient liquidity, including $2 billion of undrawn SCL revolving credit facility[38] - The company has successfully reduced operational costs by 5% through efficiency improvements[27] - The board of directors has approved a dividend increase of 10%, reflecting confidence in the company's financial health[27] Risk Factors - The company faces risks related to potential competition if the Macau government grants additional gaming licenses, which could adversely affect financial performance[103] - The company is sensitive to economic downturns that may reduce discretionary spending by consumers and businesses, impacting demand for luxury facilities[104] - The company faces intense competition in the hotel, resort, and casino sectors, particularly from new developments in Macau and other Asian markets, which could significantly impact its business and financial performance[106] - The company is prohibited from accepting RMB bets, and restrictions on RMB outflows from mainland China may hinder the visitation of mainland Chinese customers to Macau, negatively impacting the gaming industry[106] - The company relies heavily on the willingness of customers to visit its properties, with a significant portion of its clientele being international tourists, making it vulnerable to disruptions from pandemics or regional conflicts[109] Corporate Governance - The board of directors consists of eight members, including two executive directors and six non-executive directors, with four being independent non-executive directors[154] - The board has established a formal approval and authorization policy, which includes reviewing and approving annual operating and capital budgets, regulatory announcements, and capital projects not included in the annual budget[159] - The company has adopted a business ethics and conduct code applicable to all directors and team members, based on four main principles: respect for individuals, ethical business conduct, safeguarding company and investor interests, and optimizing community relations[160] - The company has implemented an anti-corruption policy to ensure compliance with applicable laws, including the U.S. Foreign Corrupt Practices Act and the Sarbanes-Oxley Act of 2002[161] - The company established a risk management and internal control system supported by comprehensive governance and audit functions[174] Sustainability Efforts - The company is committed to sustainable development and will publish a comprehensive sustainability report for the year ending December 31, 2019[137] - The company emphasizes environmental responsibility through its global sustainability strategy, aiming to reduce its environmental impact[138] - The company saved 23.4 million kilowatt-hours of energy annually through 24 efficiency projects, including optimizing refrigeration and insulation systems[143] - The company removed 2.2 million plastic straws and 15,400 plastic laundry bags from its operations[144] - The company recycled 5,874 tons of waste from its operations in 2019, including 2,622 tons from renovations[146]

Financial Performance - The adjusted property EBITDA for the first half of 2019 was $1,630,000,000, an increase of 5.6% compared to $1,540,000,000 in the first half of 2018[7]. - The total net revenue for the first half of 2019 was $4,470,000,000, reflecting a 4.8% increase from $4,270,000,000 in the same period of 2018[7]. - The profit for the first half of 2019 was $1,067,000,000, up 9.0% from $979,000,000 in the first half of 2018[7]. - The company's net revenue for the six months ended June 30, 2019, was $4,470 million, an increase of 4.8% compared to $4,270 million for the same period in 2018[22]. - The gaming revenue from the casino segment was $3,590 million, up 6.0% from $3,380 million in the previous year, primarily driven by an increase in the mass gaming segment at The Parisian Macao[22]. - The company reported a significant increase in expected credit loss provisions, rising 566.7% to $14 million from a recovery of $3 million in the previous year[33]. - The company reported a profit of $1,067 million for the six months ended June 30, 2019, up from $979 million in the same period of 2018, marking an increase of approximately 8.9%[105]. - The total comprehensive income for the period was $1,071 million, up from $962 million in 2018, reflecting an increase of 11.3%[100]. Revenue Sources - The group’s revenue sources primarily come from gaming, hotel, retail, dining, and other services within its properties in Macau[117]. - The total revenue from the shopping center segment was $240 million, reflecting a 3.0% increase from $233 million in the prior year[22]. - Total dining revenue for the six months ended June 30, 2019, was $154 million, a 1.3% increase from $152 million in the same period of 2018, driven by increased visitor numbers[31]. - Casino spending for the six months ended June 30, 2019, was $2,160,000,000, an increase of 3.8% compared to $2,080,000,000 for the same period in 2018[34]. Visitor Statistics - Macau's gaming revenue for the first half of 2019 was $18,500,000,000, a decrease of 0.5% compared to the same period in 2018[17]. - The number of visitors to Macau in the first half of 2019 was 20,300,000, indicating a continued increase in tourism[17]. - User data indicated a significant increase in visitor numbers, with a total of 2.5 million entries recorded across properties, up 20% compared to the previous quarter[167]. Capital Expenditures and Investments - The company plans to enhance its property portfolio through reinvestment to maintain high-quality offerings and competitiveness in the market[12]. - Total capital expenditures for the six months ended June 30, 2019, amounted to $225 million, with significant investments in various properties including $107 million for the Londoner Macao[48]. - The company plans to transform Sands Plaza into Londoner Mall, with an expected total leasable area of approximately 600,000 square feet after the completion of renovations at Sands Cotai Central[31]. - The company is exploring strategic acquisitions to bolster its market position, with potential targets identified that could add $150 million in annual revenue[163]. Operational Developments - The renovation of the VIP and premium mass gaming areas at The Venetian Macao is expected to be completed in phases by 2020[13]. - Approximately 290 new premium suites are being added to the Four Seasons Tower, with completion expected in Q1 2020[14]. - The company is transforming Sands Cotai Central into "The Londoner Macao," with new retail and dining options, and approximately 370 luxury suites expected to be completed by the end of 2020[15]. - The company plans to implement new marketing strategies that are expected to increase brand awareness and customer acquisition by 25% over the next year[163]. Legal and Compliance Matters - The company is involved in ongoing legal proceedings, including a significant claim for MOP 96.45 billion (approximately $11.98 billion) related to alleged losses from 2004 to 2018[20]. - The management believes that ongoing litigation will not have a significant adverse impact on the company's financial condition or operating results[20]. - The board of directors has maintained compliance with all code provisions and best practices during the reporting period[65]. Shareholder Information - Sheldon Gary Adelson holds 5,657,814,885 shares, representing approximately 69.96% of the company's issued share capital[78]. - The company has a significant family ownership structure, with Sheldon Gary Adelson and family members holding approximately 56% of LVS's issued common stock[84]. - As of June 30, 2019, the company had no knowledge of any major shareholders holding any short positions in the company's shares[84]. Employee and Team Development - Total full-time team members reached 28,249, with a gender ratio of 49% male and 51% female[59]. - A salary increase of MOP 600 was granted to team members earning MOP 13,000 or below, while those earning above received a 2.5% increase[60]. - 5,034 team members received hotel and restaurant safety training, achieving a 95% qualification rate[60]. Financial Position and Ratios - Total assets as of June 30, 2019, were $11,092 million, a decrease from $12,058 million as of December 31, 2018[104]. - The capital structure as of June 30, 2019, showed a debt-to-capital ratio of 51.5%, an increase from 38.3% as of December 31, 2018, due to dividend payments[56]. - The company reported a foreign exchange gain of $4 million, compared to a loss of $17 million in the previous year[100]. Future Outlook - The company provided an optimistic outlook for the next quarter, projecting a revenue increase of 20% based on current market trends and customer demand[165]. - Future guidance suggests a focus on sustainable practices, with a commitment to reducing operational costs by 10% over the next two years[167].

Financial Performance - For the year ended December 31, 2018, net revenue was $8,670,000,000, an increase of 14.2% compared to $7,590,000,000 for the year ended December 31, 2017[12]. - Operating expenses for the year ended December 31, 2018, were $6,510,000,000, up 12.0% from $5,810,000,000 for the year ended December 31, 2017[12]. - Adjusted property EBITDA increased by 17.9% to $3,080,000,000 for the year ended December 31, 2018, compared to $2,610,000,000 for the year ended December 31, 2017[12]. - Profit for the year ended December 31, 2018, was $1,870,000,000, a 17.0% increase from $1,600,000,000 for the year ended December 31, 2017[12]. - The company recorded a total revenue of $8,670,000,000, representing a growth of over 14% compared to the previous year[42]. - Adjusted property EBITDA reached $3,080,000,000, an increase of nearly 18%, with an EBITDA margin of 35.4%[42]. - Net profit grew by 17% to $1,870,000,000, demonstrating strong cash flow generation[42]. - The company plans to invest an additional $2,200,000,000 over the next three years, increasing total investment to over $15,000,000,000[42]. Visitor Statistics - The company recorded 21,800,000 unique visitors to its consolidated website in 2018, an 18% increase from 2017[13]. - In 2018, the total number of visitors to Sands China's properties reached 99.3 million, an increase from 92.4 million in 2017, averaging approximately 272,000 visitors per day[15]. - The company hosted 922 events, attracting 990,000 visitors in 2018[14]. - Sands China attracted 990,000 visitors to its MICE (Meetings, Incentives, Conferences, and Exhibitions) activities, with 621,000 attending 37 exhibitions and 370,000 participating in 885 meetings and corporate events[18]. - The total visitor count for The Venetian Macao in the fiscal year ending December 31, 2018, was approximately 36.4 million[69]. - The total visitor count for the Parisian Macao in the fiscal year ending December 31, 2018, was approximately 14.1 million[74]. - The total visitor count for Sands Cotai Central in the fiscal year ending December 31, 2018, was approximately 19.7 million[71]. - The total visitor count for the Macau Palazzo reached approximately 23,100,000 in the year ended December 31, 2018[75]. MICE and Events - The company generated over 262,400 room nights from the MICE (Meetings, Incentives, Conferences, and Exhibitions) business in 2018[13]. - Sands China hosted 76 different live entertainment events in 2018, attracting over 467,000 visitors, including major concerts by top artists such as Jay Chou and Bruno Mars[16]. - Major events held at the Venetian Macao's exhibition center included the 2018 Spring Carnival Auto Show, attracting 26,000 visitors, and the 35th Asian International Philatelic Exhibition, attracting 10,000 visitors[18]. - Sands China's exhibition space totals approximately 1.7 million square feet, making it one of the largest in Asia, particularly with the Venetian Macao's convention center[17]. Leadership and Governance - The board of directors consists of eight members, with four being independent non-executive directors[24]. - Sheldon Gary Adelson serves as the Chairman, CEO, and Executive Director since August 2004, with over 70 years of experience in the industry[25]. - The management team has extensive experience in the gaming and hospitality sectors, contributing to strategic decision-making[25][26][28]. - The company emphasizes innovation and development in the gaming and hospitality sectors, leveraging the expertise of its directors[25][26]. - The board includes members with diverse backgrounds in public service, law, and business, enhancing governance and strategic oversight[24][27][28]. Market and Expansion - The company aims to enhance its leadership position in non-gaming sectors, including MICE (Meetings, Incentives, Conferences, and Exhibitions) and retail[42]. - The company plans to continue investing in facility expansion to enhance the attractiveness of its Cotai property portfolio[49]. - The company has established partnerships with globally recognized hotel brands, including Four Seasons and St. Regis, to attract various market segments[48]. - The company is focused on maintaining strong governance through its independent board members[30][31][32][33]. Financial Risks and Challenges - The company has identified potential risks, including competition from additional gaming operators if the Macau government issues more gaming licenses[121]. - The company is particularly vulnerable to economic downturns that may reduce discretionary spending by consumers and businesses[122]. - The company faces intense competition in the hotel, resort, and casino sectors, particularly in Macau, where competitors are expanding their facilities and increasing hotel room availability[124]. - The company faces significant costs due to compliance with evolving privacy and cybersecurity laws, which may impact its ability to share information and market products[128]. Sustainability and Community Engagement - The company is committed to sustainable development and will publish an independent sustainability report covering the fiscal year ending December 31, 2018[156]. - The "Sands Eco 360" global sustainability program aims to reduce environmental impact while enhancing guest comfort and team member well-being[157]. - The company held 90 community events in 2018, resulting in nearly 125,000 actions taken by team members to reduce food waste[166]. - The company received multiple environmental awards in 2018, including the Platinum Award for Eco-Friendly Hotels in Macau[165]. Corporate Governance and Compliance - The company continues to enhance its corporate governance framework, adopting revised terms of reference for its nomination and audit committees[169]. - The board consists of eight directors, including two executive directors and six non-executive directors, with a meeting attendance rate of 100% for most members[177]. - The company adopted a new business ethics and compliance code applicable to all directors and employees, emphasizing integrity and ethical conduct[186]. - The Audit Committee held seven meetings in 2018, with all members attending every meeting, ensuring effective oversight of financial reporting and risk management[196].