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]