Sands China posted a 16.1 per cent fall in profit in 2016, down to $1.2bn from $1.5bn in 2015, according to a preliminary announcement of its annual results.
Net revenue was $6.65bn, down 2.4 per cent on the year prior, while adjusted EBITDA for the year increased 0.9 per cent to $2.24bn.
The operator said the decrease in net revenues was due to the “overall market slowdown through the third quarter of 2016.”
Net casino revenue for the year was $5.6bn, a fall of 2.8 per cent compared to $5.7bn in 2015.
“Market conditions in Macau improved meaningfully during the year, and we again delivered a strong set of financial results,” said Sands chairman and chief executive officer Sheldon Adelson.
“We were encouraged that our mass gaming revenue saw positive year-on-year growth during the year, and that this growth accelerated through the year to reach 16 per cent growth in the fourth quarter,” he said.
Source: Asia Gaming Brief