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].
金沙中国有限公司(01928) - 2018 - 年度财报