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Tag: Sands China

  • Sands China mall sales increase when land-based visitors return

    Sands China mall sales increase when land-based visitors return

    Sands China mall revenue rose 5.8 per cent last year as Mainland China visitor numbers rebounded. Sands China owns The Venetian Macao, Sands Cotai Central, The Parisian Macao and The Plaza Macao shopping centres which boast a combined 1.87 million sqft of retail-mall space. They form a key part of the company’s giant gaming and resorts business in the territory, which combined posted US$8.67 billion in sales last year, up more than 14 per cent, and achieved a post-tax profit of $1.87 billion, up 17 per cent.

    The company says mall revenues for the year increased 5.8 per cent overall to $507 million, compared to $479 million the previous year.

    The increase was primarily driven by higher turnover fees from Shoppes at Four Seasons, Shoppes at Venetian and Shoppes at Cotai Central, and from additional retail space becoming available at Cotai Central.

    The strongest-performing mall complex was the smallest of the four, The Plaza Macao, which has the 241,548sqft gross leasable area (GLA). It achieved 99 per cent occupancy with a base rent of $460 per sqft and tenant sales of $4373 per sqft, contributing $145 million in revenue, up 10.7 per cent year on year.

    The weakest-performing mall was The Parisian Macao, with 89.8 per cent occupancy of its 295,915sqft GLA. Base rent per sqft was $156 and tenant sales per sqft $649. Revenue there fell 13.6 per cent year on year to just $57 million.

    The company’s largest Macau property, and its first, The Venetian Macao, has 813,376sqft of GLA. It achieved total mall revenues of $233 million last year – up 6.4 per cent – with 90.3 per cent occupancy, a base rent of $263 and tenant sales of $1746.

    Sands Cotai Central, with 519,681sqft GLA, achieved $69 million in revenue – up 9.5 per cent – and achieved 91.5 per cent occupancy. Base rent was $108 and tenant sales $892.

    Sands China said its food and beverage revenues rose 4.1 per cent last year to $304 million, driven primarily by increased foot traffic.

    Chairman Sheldon G Adelson said Macao’s development and evolution as Asia’s leading tourism destination accelerated during the year, with market-wide visitation from China reaching a record 25.2 million visits, an increase of 14 per cent compared to last year.

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  • New phase of Sands Cotai Central opens with Apple anchor

    New phase of Sands Cotai Central opens with Apple anchor

    Sands Cotai Central has opened phase four of its retail offer, adding almost 100,000sqft of retail space and 25 retailers.

    At the heart of the expansion is an Apple store, which opens today.

    The new space is home to several brands new to Macao: Calvin Klein Performance and Razzle. Other stores to open are MLB, Esprit, Guess, Watson’s, Noble Mart, Levi’s, Florsheim, Timberland, The North Face, Boy London, Zaxy and Bauhaus.

    Later this year, several restaurants will be added to the line-up, including Chiado, a modern yet authentic Portuguese concept developed in partnership with celebrity chef Henrique Sa Pessoa, and Crystal Jade La Mian Xiao Long Bao, which brings a contemporary twist to classic Beijing, Szechuan and Shanghai cuisine.

    “The addition of these new stores, especially the introduction of an iconic Apple Store, continues to ensure we provide our customers with more new-to-market brands, more choice and more amazing experiences,” said David Sylvester, executive VP of global retail at Las Vegas Sands Corp.

    Sands Cotai Central, which celebrated its sixth anniversary in April, has been the focal point of a wide range of products, offerings and experiences on the Cotai Strip, with access to four hotels since it opened in 2012.

    Earlier this year Sands China revealed plans to transform Sands Cotai Central into The Londoner Macao, which will feature new attractions including some of London’s most-recognisable landmarks.

  • Sands China launches branded Mastercard rewards program

    Sands China launches branded Mastercard rewards program

    Sands China, ICBC and Mastercard have launched a credit card allowing holders to collect points anywhere in the world which can be redeemed at Sands Macao’s integrated resorts.

    The ICBC Sands Lifestyle Mastercard holders will also have the opportunity to earn up to three times more points when they shop and 20 times more points when they stay at Sands Resorts Macao properties. ICBC Asia offers three times more points when they spend overseas with the card.

    The program is the first for Mastercard’s Pay with Rewards in Asia Pacific. It will have two levels of co-branded credit cards, including the Sands Lifestyle Platinum Mastercard and Sands Lifestyle World Mastercard.

    Cardholders can take advantage of benefits including hotel stays, dining, shopping, events and entertainment. This includes discounts on accommodation packages, ferry tickets, air travel and holiday packages with Cotai Travel, special offers at selected restaurants, Sands Shoppes and entertainment tickets to international and Asian theatre shows and music events.

    Initially, the program will only be available for customers living in Hong Kong and Macao. Customers living in Hong Kong can apply to join the program at ICBC (Asia) branches in Hong Kong or via the ICBC (Asia) website, while customers living in Macao can apply at ICBC (Macau) branches or via the ICBC (Macau) website.

    Dave Horton, chief marketing officer with Sands China, said the Sands Lifestyle program offers a range of attractive benefits for cardholders.

    Sands China, ICBC and Mastercard executives announce the new Sands Lifestyle loyalty program. From left: Ling Hai, co-president, Asia Pacific, Mastercard, Jiang Yisheng, CEO of ICBC Asia, Dave Horton, global chief marketing officer, Las Vegas Sands Corp & Sands China and Wang Du Fu, president, ICBC Card Center.

    “Designed to enhance the experience of our visitors to our integrated resorts and Macao in as destination, Sands Lifestyle is an innovative addition to our world-class facilities and one we anticipate will encourage more visitor arrivals.”

    Ling Hai, co-president, Asia-Pacific, Mastercard, added: “Today represents a number of firsts for Mastercard in China. It is the first time we are partnering with Sands China, one of the largest leisure brands and most popular lifestyle destinations in the region. The ICBC Sands Lifestyle Mastercard is also the first to launch the Mastercard Pay with Rewards product in Asia Pacific. We believe our partnership with Sands China is another step towards fulfilling our commitment to meeting the evolving desires of China’s burgeoning affluent population.”

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  • Sands China reveals retail mall performance

    Sands China reveals retail mall performance

    Sales may be down at Sands China’s shopping malls, but by nowhere near the decline in Macau’s gambling revenues.

    Sands China has revealed that gross revenue from tenants in the company’s retail malls on Cotai (The Venetian Macao, Four Seasons Macao and Sands Cotai Central) and Marina Bay Sands in Singapore was US$139.3 million for the third quarter of 2015, a decrease of 6.8 per cent compared to the third quarter of 2014.

    Operating profit derived from these retail mall assets decreased 5.2 per cent year on year to US$125 million.

    By comparison, total net revenue for Sands China fell 28.8 per cent to US$1.66 billion in the third quarter, down from $2.33 billion in the same period last year.

    As the table below shows, occupancy levels at the end of the three months to September 30 was running at 100 per cent – or close to it – at all the company’s retail properties in Macau. At the Marina Bay Sands, occupancy was at 95.5 per cent, perhaps reflecting an ongoing reshuffle of tenancies in the centre.

    Sands numbers

    The company’s operating profit margin across all the facilities ran at between 87.7 and 94.1 per cent.

    Sheldon Adelson, chairman and CEO of Sands China’s US parent Las Vegas Sands, said while the operating environment in Macao, particularly in the high-end gaming segments, remained challenging during the quarter, the company’s focus on the higher margin mass and non-gaming segments and the geographic diversification of its cash flows allowed the company to again deliver in excess of US$1 billion of adjusted property EBITDA during the quarter and weather this cyclical downturn better than the industry overall.

    “In Macao… we remain confident that our market-leading Cotai Strip properties, which will be complemented in the future by the St. Regis tower at Sands Cotai Central opening in December 2015, and by The Parisian Macao, targeted to open in late 2016, will continue to provide the economic benefits of diversification to Macao, help attract greater numbers of business and leisure travellers, and provide an outstanding and diversified platform for growth in the years ahead.”

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