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Goldstein re-elected as Sands China executive director

May 22, 2023 Latest News, Macau, Top of the deck  

Goldstein re-elected as Sands China executive director

Rob Goldstein (pictured), chairman and chief executive of Macau casino operator Sands China Ltd, has been re-elected as an executive director of the company, according to a Friday filing to the Hong Kong Stock Exchange.

Charles Forman and Kenneth Chung were also re-elected as non-executive directors at Sands China’s latest annual general meeting, stated the document.

The meeting also approved a general mandate to the directors to repurchase shares of Sands China not exceeding 10 percent of the total number of its issued shares. The firm’s directors also got the nod to allot, issue and deal with additional shares of the company not exceeding 20 percent of its issued shares.

Sands China is a unit of U.S.-based casino operator Las Vegas Sands Corp. Mr Goldstein is also chairman and CEO of the parent company.

Sands China reported in April adjusted property earnings before interest, taxation, depreciation, and amortisation (EBITDA) of US$398 million in the first quarter of 2023. That was on net revenue that rose by 132.1 percent year-on-year, to nearly US$1.28 billion.

Net loss for Sands China in the first three months of 2023 was US$10 million, down from US$348 million in the preceding quarter.

Earlier this month, the company said it had agreed with lenders to an 18-month extension of a dividend-restriction period as part of an amended and restated facility agreement worth circa US$2.49 billion.

In April 2020, the parent had said it would suspend its own dividend programme amid what at the time was the negative impact from the Covid-19 pandemic.

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