Financial Performance - The total net revenue for the year ended December 31, 2021, was $2,870,000,000, an increase of 70.4% compared to $1,690,000,000 for the year ended December 31, 2020[5]. - The adjusted property EBITDA for the year ended December 31, 2021, was $341,000,000, recovering from an adjusted property EBITDA loss of $428,000,000 for the year ended December 31, 2020[5]. - The company reported a loss of $1,050,000,000 for the year ended December 31, 2021, which is an improvement from a loss of $1,520,000,000 for the year ended December 31, 2020[5]. - The gaming revenue for the year ended December 31, 2021, was $1,990 million, up 70.0% from $1,170 million in the previous year, driven by increased visitor numbers due to eased travel restrictions[108]. - Hotel revenue increased by 91.7% to $276 million from $144 million year-over-year, indicating a significant recovery in occupancy rates[107]. - Shopping mall revenue rose by 75.8% to $473 million compared to $269 million in the previous year, reflecting improved consumer spending[107]. - The company reported a net loss attributable to shareholders of $1,050 million for the year ended December 31, 2021, compared to a loss of $1,520 million in 2020, representing a 30.9% improvement[181]. - The basic loss per share for the year ended December 31, 2021, was 12.95 cents (1.01 HKD), down from 18.82 cents (1.46 HKD) in 2020, indicating a reduction of 31.0%[181]. Visitor Statistics - In 2021, Sands China attracted a total of 41,600,000 visitors across its properties, averaging approximately 114,000 visitors per day[11]. - The total number of visitors to Macau in 2021 was 7.7 million, representing a 30.7% increase from 2020, but an 80.4% decrease from 2019[56]. - The total number of visitors to The Venetian Macao in 2021 was approximately 12.8 million, compared to 10.8 million in 2020 and 36 million in 2019, indicating a significant recovery post-COVID-19[77]. - The Londoner Macao's total visitor count for 2021 was approximately 9.8 million, up from 6.4 million in 2020 and down from 19.2 million in 2019[81]. - Macau Parisian had a total of approximately 5,500,000 visitors in 2021, compared to 4,000,000 in 2020 and 13,000,000 in 2019, indicating a recovery trend[83]. Operational Developments - The company operates the largest integrated resort in Macau, with 12,373 hotel rooms and suites, and a retail shopping area of 2,100,000 square feet[4]. - The company launched the Londoner Hotel in January 2021, featuring 594 London-themed suites, as part of its major development project in Macau[8]. - The company provided medical observation facilities at the Sheraton Grand Macao Hotel, accommodating over 10,000 individuals during the pandemic[8]. - Sands China hosted approximately 731,000 visitors for MICE (Meetings, Incentives, Conferences, and Exhibitions) activities, with 672,000 attending 34 exhibitions and trade fairs[14]. - The company has invested over $15,000,000,000 to support the diversification of Macau's economy and enhance its position as a leading leisure and business travel destination in Asia[45]. Sustainability and Corporate Responsibility - Sands China was recognized as a component of the Dow Jones Sustainability Index for the Asia Pacific region, ranking in the top 20% of developed regions[1]. - The company established an Environmental, Social, and Governance (ESG) committee to oversee the implementation of sustainability measures[1]. - The company aims to reduce Scope 1 and Scope 2 greenhouse gas emissions by 17.5% compared to the 2018 baseline by 2025[190]. - Sands China has committed to donating 20,000 hygiene kits to global charity Children International in the Philippines as part of its ongoing corporate social responsibility efforts[189]. - The company has been recognized as a component of the DJSI Asia Pacific Sustainability Index and ranked 9th in the Hong Kong Business Sustainability Index[192]. Strategic Initiatives - The company aims to provide 7,000,000 hours of employee development training and 110,000 hours of volunteer service by 2025[1]. - The company continues to expand its market presence and enhance customer service standards across its properties[18]. - The company is exploring partnerships with local firms to enhance distribution channels and improve market penetration[34]. - The company plans to implement cost-cutting measures aimed at reducing operational expenses by 5% in the upcoming year[34]. - The company aims to maintain its leadership position in the integrated resort sector through ongoing innovation and strategic initiatives[18]. Challenges and Risks - The ongoing global pandemic has significantly impacted the company's financial and operational performance, leading to a focus on the safety and well-being of team members and customers[44]. - The company faces significant adverse impacts on its operating performance and cash flow due to the COVID-19 pandemic, with uncertainty regarding its future spread and duration[142]. - The company is subject to extensive regulations and must obtain licenses from multiple jurisdictions, with the risk of losing or failing to renew these licenses posing a significant threat to its operations[147]. - The company faces significant risks related to its debt obligations, including increased difficulty in meeting repayment responsibilities and potential limitations on operational flexibility due to restrictive covenants[151][152]. - The competitive landscape is intensifying, with new developments in Macau and other regions, increasing pressure on the company's market position[155][156]. Financial Position - As of December 31, 2021, the company had cash and cash equivalents totaling $678 million, with an available borrowing capacity of $1.54 billion[97]. - The company issued $1.95 billion of unsecured unregistered notes in September 2021, with proceeds used to fully redeem $1.8 billion of 4.600% senior notes due in 2023[126]. - The company has outstanding borrowings totaling $7.9 billion under priority notes and the 2018 SCL revolving credit facility, with an available borrowing limit of $1.75 billion[151]. - The company anticipates seeking additional waivers post-January 1, 2023, to comply with financial covenants, which may be affected by factors beyond its control, including ongoing travel and border restrictions due to COVID-19[127]. - The company has not declared a final dividend for the year ended December 31, 2021[136].

Financial Performance - The adjusted property EBITDA for Sands China Ltd. in the first half of 2021 was $234 million (HKD 1.82 billion), compared to an adjusted property EBITDA loss of $243 million (HKD 1.9 billion) in the first half of 2020, indicating a recovery from the pandemic impact[7]. - Total net revenue for the first half of 2021 was $1.62 billion (HKD 12.58 billion), representing a 91.0% increase from $848 million (HKD 6.57 billion) in the first half of 2020[7]. - The company reported a loss of $381 million (HKD 2.96 billion) in the first half of 2021, an improvement from a loss of $716 million (HKD 5.55 billion) in the same period of 2020[7]. - The total gaming revenue for the six months ending June 30, 2021, increased by 45.4% compared to the same period in 2020[15]. - The gaming revenue for the six months ended June 30, 2021, was $1,182,000,000, up 89.1% from $625,000,000 in the same period of 2020[25]. - The total comprehensive loss attributable to equity holders for the first half of 2021 was $383 million, compared to $701 million in the same period of 2020[102]. - The company reported a basic loss per share of 4.71 cents for the first half of 2021, an improvement from a loss of 8.85 cents per share in the same period of 2020[101]. - The company reported a net loss attributable to equity holders of $381 million for the six months ended June 30, 2021, compared to a loss of $716 million for the same period in 2020[118]. Visitor Trends - The total number of visitors to Macau from mainland China decreased from 2,300,000 in the quarter ending March 31, 2020, to 1,600,000 in the quarter ending March 31, 2021, while increasing to 2,000,000 in the quarter ending June 30, 2021[15]. - The total number of visitors to Macau for the six months ended June 30, 2021, was 3,600,000, representing a 52.3% increase compared to the same period in 2020[19]. - The company’s operations have been severely impacted by the decrease in visitors to Macau, with ongoing uncertainty regarding the duration and severity of the COVID-19 pandemic[111]. - The company’s properties remain open, but operations have been scaled back due to low visitor numbers and required safety measures[111]. Development and Renovation - Sands China Ltd. continues to focus on developing its Cotai properties and enhancing its integrated resort business model to become a leading destination for gaming, leisure, exhibitions, and conferences in Asia[9]. - The renovation of the VIP and premium mass gaming areas at The Venetian Macao has been completed, featuring modern designs and an increased number of private gaming rooms[10]. - The Londoner Macao project is ongoing, with phased deliveries expected throughout 2021, including the opening of a hotel with 594 London-themed suites in January 2021[12]. - The company is actively evaluating opportunities to enhance its product offerings, including significant upgrades to its hotels, restaurants, and gaming areas[9]. - The company is undergoing a major development project to transform Sands Cotai Central into The Londoner Macao, with the hotel opening in January 2021 and further retail options being expanded[109]. Revenue Streams - The company reported a significant increase in revenue from shopping centers, which reached $218,000,000, a 120.2% increase from $99,000,000 in the previous year[25]. - Total revenue for the Venetian Macao shopping center reached $95 million, a 102.1% increase compared to the previous period[32]. - The total revenue from the Macau Londoner was $959 million, a 70.9% increase from $561 million in the previous year[26]. - The total revenue from the Macau Parisian was $128 million, reflecting a 50.6% increase from $85 million in the previous year[26]. - The company reported a 10% increase in non-gaming revenue, highlighting the importance of diversified income streams[154]. Financial Position and Cash Management - The company reported a cash and cash equivalents balance of $861 million, excluding restricted cash, and an available borrowing capacity of $2 billion from the 2018 SCL revolving credit facility[15]. - The company has implemented cost-cutting measures and capital expenditure plans to minimize cash outflows during the current environment[15]. - The total assets as of June 30, 2021, amounted to $10,415 million, a decrease from $10,548 million as of December 31, 2020[103]. - The total liabilities increased to $8,853 million as of June 30, 2021, compared to $8,619 million as of December 31, 2020[105]. - The company’s total equity decreased to $1,562 million as of June 30, 2021, from $1,929 million as of December 31, 2020[105]. Corporate Governance - Robert Glen Goldstein serves as both Chairman and CEO since January 2021, enhancing strategic focus and management effectiveness[67]. - The company established an Environmental, Social, and Governance (ESG) Committee, chaired by Zhang Yun, to enhance governance practices[72]. - The company has five non-executive directors, four of whom are independent, providing independent judgment on strategy and performance[67]. - The company has implemented a securities trading code for directors and employees to comply with insider trading regulations[69]. Future Outlook - The company is optimistic about the future growth as travel restrictions are expected to be lifted, enhancing its market leadership position[18]. - The company provided a performance guidance of $1.5 billion in revenue for the second half of 2021, anticipating continued recovery[153]. - Sands China plans to expand its market presence in the Greater Bay Area, leveraging the region's economic growth potential[155]. - The company is exploring strategic partnerships for potential acquisitions to enhance its competitive position in the market[155].

Financial Performance - The total net revenue for the year ended December 31, 2020, was $1.69 billion (HKD 13.08 billion), a decrease of 80.8% compared to $8.81 billion (HKD 68.6 billion) for the year ended December 31, 2019[6]. - The group reported a loss of $1.52 billion (HKD 11.81 billion) for the year ended December 31, 2020, compared to a profit of $2.03 billion (HKD 15.83 billion) for the year ended December 31, 2019[6]. - Adjusted property EBITDA loss for the year ended December 31, 2020, was $428 million (HKD 3.32 billion), down from adjusted property EBITDA of $3.19 billion (HKD 24.87 billion) for the year ended December 31, 2019[6]. - Total net revenue decreased by 80.8% to $1,690,000,000 due to the impact of COVID-19 and related travel restrictions, with visitor numbers to Macau dropping by 85% to 5,900,000[33]. - Casino revenue decreased by 83.3% to $1,170,000,000 in 2020 from $7,020,000,000 in 2019, primarily due to reduced betting amounts caused by COVID-19 travel restrictions[76]. - Hotel revenue fell by 80.3% to $144,000,000 in 2020 from $731,000,000 in 2019, reflecting a significant drop in visitor numbers[76]. - Shopping center revenue decreased by 49.3% to $269,000,000 in 2020 from $531,000,000 in 2019, indicating challenges in retail operations[76]. - The company reported a significant impact on operations due to an 83.0% decline in total visitors from mainland China to Macau in 2020 compared to 2019[70]. - The company has a strong balance sheet with cash and cash equivalents totaling $861,000,000 as of December 31, 2020, and available credit of $2,020,000,000[71]. Visitor Engagement and Tourism Recovery - The company focused on local tourism recovery during the COVID-19 pandemic, launching initiatives like the "Sands Carnival" to support local tourism and consumption measures[7]. - The total number of visitors to the company's properties in 2020 reached 30.8 million, averaging approximately 84,000 visitors per day[10]. - The company hosted 237 events, attracting around 522,000 visitors, including exhibitions, trade shows, and corporate activities[9]. - The company’s properties offered approximately 1.7 million square feet of meeting and exhibition space, making it a leader in the MICE (Meetings, Incentives, Conferences, and Exhibitions) sector in the region[12]. - The company organized promotional activities in 11 major cities in Greater China to enhance its MICE offerings and attract more visitors[8]. - The company participated in major promotional events in Beijing and Qingdao to promote Macau and its hotels to the Chinese market[8]. - The company achieved significant engagement through live streaming events, with over 13 million views recorded during two "Boss Live" events in collaboration with Ctrip[7]. Operational Adjustments and Digital Transformation - The company accelerated its digital transformation to enhance customer experience and safety, introducing features like electronic room vouchers and contactless ticketing solutions[7]. - Payment transactions via Alipay and WeChat Pay showed a significant recovery in Q4 2020, reaching 90% of the consumption amount from the same period last year[7]. - The company provided approximately 2,000 hotel rooms for quarantine purposes to support the Macao government's COVID-19 response[69]. - The company has implemented cost-cutting measures and capital expenditure reductions to mitigate cash outflows during the current environment[71]. Awards and Recognitions - The company received multiple awards in 2020, recognizing its efforts in customer service and sustainable development[15]. - The company received multiple awards in 2020, including the Forbes Travel Guide Four-Star Rating for the St. Regis Macao and the World Spa Awards for the Best Hotel Spa in Macao[17]. - The Venetian Macao was recognized as the Best Hotel Suite in Macao by the World Travel Awards in 2020[16]. - The company achieved a ranking of 5th in the DestinAsian Readers' Choice Awards for Best Hotel in Macao[19]. Management and Governance - The company has a board of directors consisting of eight members, with four being independent non-executive directors[20]. - Robert Glen Goldstein was appointed as the Chairman and CEO of the company effective January 27, 2021[21]. - The company has a governance framework that emphasizes the importance of good corporate governance in creating shareholder value and managing stakeholder interests[161]. - The board consists of eight directors, including three executive directors and five non-executive directors, ensuring a balanced mix of skills and experience[167]. - The board's responsibilities include setting strategic goals, ensuring resources are available to achieve these goals, and maintaining high ethical standards[165]. Community Engagement and Sustainability - The company is actively involved in community and cultural initiatives, with its president holding several prominent positions in Hong Kong's cultural and film sectors[22]. - The company donated over 650,000 pieces of epidemic prevention materials and provided financial support to 500 underprivileged families[157]. - Sands China has been recognized for its contributions to the community, including providing services to 100 elderly residents for the Lunar New Year and donating 40,000 hygiene kits to families in need in the Philippines[158]. - The company aims to reduce Scope 1 and Scope 2 emissions by 17.5% by 2025 compared to the 2018 baseline[151]. Future Outlook and Strategic Plans - The company aims to accelerate capital investment plans to support Macau's long-term development as a leading leisure and business travel destination in Asia[34]. - The company is optimistic about future growth driven by increasing demand for tourism and entertainment in Asia post-pandemic[36]. - The company plans to expand its Cotai integrated resorts, developing four resorts and additional retail, dining, and entertainment facilities to meet diverse market needs[40]. - The company believes that the Macau market will recover and benefit from significant infrastructure investments in the Greater Bay Area[35]. Risks and Challenges - The company faces potential competition if the Macau government grants additional gaming licenses, as it currently holds one of the three operating rights[43]. - The company’s gaming concession agreement is set to expire on June 26, 2022, and failure to renew it could result in the loss of all gaming revenue from its properties[120]. - The company is exposed to risks related to fraud or cheating by customers, which could adversely affect its financial performance and reputation[118]. - The company faces significant risks related to construction projects, including potential cost overruns and delays due to unforeseen events, which could adversely impact financial performance and cash flow[120].

Financial Performance - The adjusted property EBITDA loss for Sands China Ltd. in the first half of 2020 was $243 million (HKD 1.9 billion), a decrease of 115.0% compared to $1.63 billion (HKD 12.7 billion) in the first half of 2019[11]. - The total net revenue for Sands China Ltd. in the first half of 2020 was $848 million (HKD 6.57 billion), down 81.0% from $4.47 billion (HKD 34.92 billion) in the first half of 2019[11]. - The company reported a loss of $716 million (HKD 5.55 billion) in the first half of 2020, a decline of 167.1% compared to a profit of $1.07 billion (HKD 8.34 billion) in the first half of 2019[11]. - For the six months ended June 30, 2020, the company reported net revenue of $848 million, a decrease of 81.0% compared to $4.47 billion for the same period in 2019[22]. - The company recorded an operating loss of $609 million and a net loss of $716 million for the first half of 2020, compared to operating income of $1.19 billion and net income of $1.07 billion in the same period last year[22]. - Adjusted property EBITDA for the first half of 2020 was a loss of $243 million, down from $1.63 billion in the prior year[22]. - Total gaming revenue in Macau for the first half of 2020 was $4.2 billion, a decrease of 77.3% compared to the same period in 2019[25]. - Total visitors to Macau in the first half of 2020 were 3.3 million, down 83.9% from the same period in 2019[25]. - Casino net revenue was $625 million, down 82.6% from $3.59 billion in the first half of 2019, primarily due to reduced betting amounts caused by COVID-19[30]. - Hotel revenue decreased by 80.5% to $71 million from $364 million in the same period of 2019[30]. - Retail revenue from shopping centers fell 58.8% to $99 million compared to $240 million in the first half of 2019[30]. - Food and beverage revenue dropped 82.5% to $27 million from $154 million in the same period of 2019[30]. - The company anticipates ongoing challenges due to travel restrictions and the impact of the COVID-19 pandemic on visitor numbers[25]. - The company reported a net loss attributable to equity holders of $(716) million for the six months ended June 30, 2020, compared to a profit of $1,067 million in the same period of 2019[115]. - Total comprehensive income for the period was $(701) million, a significant decrease from $1,071 million in the prior year[120]. Operational Adjustments - The company has implemented cost-cutting measures and capital expenditure reductions to mitigate cash outflows during the pandemic[22]. - The company remains optimistic about the recovery of Macau's tourism sector, especially following recent announcements regarding travel policy changes[23]. - The company temporarily closed several hotel facilities during the operational pause, with the Conrad Macao reopening on June 13, 2020[22]. - The company focused on operational efficiency and cost control measures in both gaming and non-gaming segments due to the impact of the COVID-19 pandemic[47]. - The company has committed to a capital investment project valued at $2.2 billion, which includes developments like The Londoner Macao and Four Seasons[23]. - The company has implemented various online training programs for team members, with an average of 7.5 courses completed per activated account on the LinkedIn Learning platform[74]. - The company maintained employee levels despite a significant decrease in visitors due to COVID-19, implementing flexible work arrangements to reduce costs and minimize cash outflows[74]. Property Developments - Sands China Ltd. continues to invest in its property portfolio to maintain high-quality offerings and competitiveness in the market[15]. - The Venetian Macao is undergoing renovations to its VIP and premium mass gaming areas, expected to be completed in phases throughout 2020[16]. - The Four Seasons Hotel Macao has completed its project, offering 289 luxury suites to cater to the growing demand from affluent travelers[17]. - The Parisian Macao's upgraded suites are well-received by premium mass guests, with a new restaurant featuring northeastern Chinese cuisine now fully operational[18]. - The Sands Cotai Central is being transformed into the Londoner Macao, which will introduce iconic London landmarks and new hotel offerings, with completion expected in phases by the end of 2020 and into 2021[18]. - The completion of the Londoner Macao project is expected to occur in phases by the end of 2020 and into 2021[61]. - The company has initiated gaming operations in the completed Four Seasons project, which offers 289 luxury suites[61]. Visitor Trends and Market Impact - Visitor numbers to Macau from mainland China decreased by 14.9% in January 2020, with a staggering drop of 83.3% during the first seven days of the Chinese New Year[21]. - Monthly gaming revenue in Macau saw a decline of 11.3% in January 2020, with further reductions of 79.7% to 97.0% from February to June 2020 compared to the same period in 2019[21]. - Due to COVID-19, visitor numbers to Macau significantly decreased, with a reported drop of 14.9% in January 2020 compared to the same month in 2019, and a staggering decline of 96.3% to 99.6% from February to June 2020[124]. - The group provided approximately 2,000 hotel rooms at the Sheraton Grand Macao for quarantine purposes to support the Macau government's COVID-19 response[123]. - The group’s restaurants and retail stores have gradually reopened, but full recovery timelines remain uncertain[124]. - The group’s ferry services between Macau and Hong Kong were suspended due to government restrictions, with no clear timeline for resumption[124]. Legal and Governance Matters - Legal claims against the company have increased, with one claim now amounting to approximately $12.08 billion, pending appeal[27]. - The company is actively defending against litigation and does not expect significant adverse effects on its financial condition from ongoing lawsuits[27]. - The company has adhered to all code provisions and certain recommended best practices regarding corporate governance during the reporting period[81]. - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended June 30, 2020, and confirmed compliance with applicable accounting standards[91]. - The company has established a code of conduct for securities trading, which all directors confirmed compliance with for the period up to June 30, 2020[84]. Shareholder Information - Sheldon Gary Adelson holds 5,657,814,885 shares, representing approximately 69.94% of the company's equity[98]. - The company has not declared a final dividend for the year ended December 31, 2019, and will not declare an interim dividend for the six months ended June 30, 2020[62]. - The board declared an interim dividend of HKD 0.99 per share, totaling HKD 8,010,000,000 (equivalent to $1,030,000,000), paid on February 21, 2020[62]. - The company has retained the 2009 and 2019 equity incentive plans to attract and retain talented personnel[101]. Future Outlook and Strategic Initiatives - The company is exploring potential mergers with other gaming operators to further consolidate its market position and expand its service offerings[168]. - The company plans to implement a new loyalty program aimed at increasing customer retention and engagement, set to launch in Q3 2024[167]. - The company is expanding its market presence with plans to open two new hotels in Macau by the end of 2024, which is expected to add approximately 2,000 rooms to its inventory[169]. - Future guidance indicates an expected revenue growth of 15% for the next fiscal year, driven by increased tourism and new product offerings[169]. - The company is investing in new technology to improve operational efficiency, with an expected ROI of XX% over the next two years[164]. - The company is focusing on developing new entertainment options, including a state-of-the-art theater expected to open in 2025, which will host major events and performances[167].

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].