The full transformation of what used to be the Sands Cotai Central casino resort in Macau’s Cotai district into the Londoner Macao should be completed by early 2025, according to the management of Las Vegas Sands Corp. The latter is the parent company of Macau-based casino operator Sands China Ltd, which runs the property.
Las Vegas Sands had said in July that the US$1-billion phase two of the Londoner Macao property (pictured) was to be completed by 2026. According to an investor presentation published on Wednesday, the redevelopment is still scheduled to start next month, but completion has been move forward to around January 2025, on time for the Chinese New Year festive season, usually a peak season for Macau’s gaming industry.
Speaking on Wednesday on a conference call following the firm’s third-quarter earnings announcement, Grant Chum Kwan Lock, Sands China’s chief operating officer, said the firm would, during the next phase of renovation, try to “minimise the impact on the guest experience and the business operations”.
He added: “You’ll see some disruption on the gaming side in the middle of next year. We’ll be managing the Sheraton Tower renovation methodically and judiciously over the next 15, 18 months, to really continue to enhance the yielding on the customer front, but at the same time, try to get these works done as quickly as possible.”
Mr Chum highlighted the importance of completing the Londoner Macao transformation through the “repositioning” of the legacy assets in the south side of the resort, namely the Sheraton Towers and Pacifica gaming area.
“The sooner we make the entire resort ‘Londoner’, the better it will be for everyone – our guests, our staff – and for our business and the brand positioning,” he said. “We should take note that this part of the property portfolio is the lowest yielding part of the entire Cotai portfolio that we [Sands China] have both on the hotel and the gaming side.”
During the conference call, Robert Goldstein, chairman and chief executive of Las Vegas Sands, said the firm expected that the completed Londoner Macao would “meet and perhaps exceed the earning power of the Venetian Macao”, Sands China’s flagship property in the Cotai district.
According to Wednesday’s presentation deck, phase two of the Londoner Macao will include the “renovation and repositioning” of the Sheraton and Conrad hotels, as well as the renovation of the Pacifica casino space.
The company said it would add “new attractions, dining, retail and entertainment offerings” to the property. The aim is also to introduce “new health and wellness experiences,” it added.
Sands China held a formal launch event in May for the Londoner Macao, including an opening for its 6,000-seat arena. But the resort was always partially in operation during the reconversion from Sands Cotai Central – opened in 2012 – into the Londoner Macao.
Following a US$1.35-billion investment for phase one, the Londoner Macao now features the architecture of the Palace of Westminster in London, including the clock tower popularly known as Big Ben. An additional US$400 million was spent on developing Londoner Court, an accommodation tower with circa 370 suites.
The Londoner Macao features five accommodation products: The Londoner Hotel, Londoner Court, Conrad Macao, The St Regis Macao, and Sheraton Grand Macao.
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”We committed to the government to provide a full business idea and plan for Phase 1b around 12 months after the casino opens, therefore, probably early 2025”
President of the Mohegan Inspire Entertainment Resort in South Korea