Financial Performance - The total net revenue for the year ended December 31, 2022, was 2,870,000,000 for the year ended December 31, 2021[6]. - The loss for the year ended December 31, 2022, was 1,050,000,000 for the year ended December 31, 2021[6]. - The adjusted property EBITDA loss for the year ended December 31, 2022, was 341,000,000 for the year ended December 31, 2021[6]. - The casino segment generated net revenue of 1,990,000,000 in the previous year, primarily due to a decrease in visitor numbers[87]. - The total revenue from hotel operations was 276,000,000, attributed to lower occupancy rates and revenue per available room[90]. - Shopping center revenue decreased to 473,000,000, mainly due to a reduction in turnover rent and base rent[93]. - The total operating expenses decreased to 3.41 billion[97]. - The company reported a net loss of 1.05 billion for the year ended December 31, 2021[104]. Visitor Statistics - The company attracted a total of 31,000,000 visitors across its properties in 2022, averaging approximately 85,000 visitors per day[9]. - In 2022, the total number of visitors to Macau was approximately 6,000,000, a decrease of about 86% compared to 2019 and a decline of approximately 26% from 2021[35]. - The total number of visitors to the Venetian Macao in 2022 was approximately 9,700,000, down from 12,800,000 in 2021 and 36,000,000 in 2019[69]. - The Londoner Macao has a total of 8,300,000 visitors in 2022, compared to 9,800,000 in 2021 and 19,200,000 in 2019[71]. - Macau Parisian had a total visitor count of approximately 3.3 million in 2022, down from 5.5 million in 2021 and 13 million in 2019[72]. - Macau Palace recorded a total visitor count of approximately 8.6 million in 2022, compared to 12 million in 2021 and 24.3 million in 2019[73]. - Macau Sands had a total visitor count of approximately 900,000 in 2022, a decrease from 1.5 million in 2021 and 5.7 million in 2019[74]. Market Position and Strategy - The company achieved the highest market share in room sales on major Chinese travel platforms, including Ctrip, Meituan, and Fliggy, for its properties in Macau[7]. - The company continues to focus on strategic partnerships and collaborations to enhance its market position and operational efficiency[7]. - The company aims to enhance its market share in Macau's gaming sector by focusing on high-margin mass gaming and providing luxury facilities and high-level services to VIP and premium customers[43]. - The company is focused on expanding its market presence and enhancing operational efficiency[31]. - The company aims to enhance its position as a leading developer and operator in Macau by expanding its Cotai integrated resorts and diversifying its service offerings[42]. Investments and Developments - 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 tourism destination in Asia[36]. - Recent investments include the addition of approximately 1,250 luxury suites and 2,700,000 square feet of new facilities, enhancing the overall accommodation and entertainment options in Macau[37]. - The company plans to develop a new 50,000 square meter garden-themed attraction, including a landmark greenhouse, to enhance its tourism offerings[59]. - The company aims to expand its conference and exhibition facilities by developing a new approximately 18,000 square meter venue to host more large-scale international events[58]. Awards and Recognition - The company was included in the Dow Jones Sustainability World Index for the first time in 2022 and has been recognized for its outstanding ESG practices[8]. - Sands China received multiple awards in 2022, including the Asia Pacific Tourism Association Gold Award and the 2022 Human Resources Management Excellence Award[14]. - The Venetian Macao was recognized as the Best Hotel Suite in Macao and received the M&C Asia Stella Award for Best Conference Hotel in Macao in 2022[14]. - The Londoner Macao achieved a five-star rating from Forbes Travel Guide in 2023 and was awarded the 2022 China’s Best Luxury Hotel by the 19th Golden Pillow Hotel Awards[16]. - The Four Seasons Hotel Macao received a five-star rating from Forbes Travel Guide in 2023 and was listed among China’s Top 10 Hotels by Condé Nast Traveler in 2022[19]. Corporate Governance - The company has a strong governance structure with various committees, including the Remuneration Committee and the Environmental, Social, and Governance Committee, to ensure compliance and strategic oversight[24]. - The board of directors consists of eight members, including three executive directors and five non-executive directors, with four being independent non-executive directors[163]. - The independent non-executive directors have specific responsibilities to safeguard minority shareholders' interests, given the majority ownership by LVS[166]. - The company has established a compliance committee to oversee adherence to applicable laws and regulations, including anti-money laundering policies[151]. - The board conducts an annual self-assessment to determine its effectiveness and that of its committees[195]. Legal and Regulatory Compliance - The company is involved in a legal dispute with Asian American Entertainment Corporation, claiming damages of MOP 96,450,000,000 (approximately USD 12,010,000,000) for alleged lost profits from 2004 to 2018[54]. - The company is subject to regulatory oversight by the Macau government, requiring bi-monthly progress reports on development projects[63]. - The company must comply with minimum insurance requirements for certain debt instruments and agreements, and failure to do so could lead to defaults[133]. - The company is subject to extensive regulations and licensing requirements across multiple jurisdictions, which could impact its operations and financial performance if licenses are not renewed or obtained[119]. Sustainability and Community Engagement - The company has committed to reducing Scope 1 and Scope 2 greenhouse gas emissions by 17.5% compared to the 2018 baseline by 2025[148]. - The company has planted 1,000 mangrove seedlings along the Macau coast in collaboration with the University of Saint Joseph as part of its water resource management initiatives[148]. - The company provided over 7,500,000 hours of community service since 2020 to support pandemic prevention efforts[153]. - The company aims to invest 110,000 hours in volunteer services for local community contributions by 2025[149]. Management and Leadership - The company’s leadership includes Robert Glen Goldstein as Chairman and CEO, with a board comprising eight members, four of whom are independent non-executive directors[21][22]. - The Chief Financial Officer, Dave Sun, has been with the company since 2007 and has extensive experience in financial management[33]. - The company has appointed Wilfred Wang as President and Executive Director, who has extensive experience in property development and has held various significant positions in the Hong Kong government and private sector[24]. - The company relies heavily on the continued service of its senior management team, and losing key personnel could significantly adversely affect its business[131].
金沙中国有限公司(01928) - 2022 - 年度财报