Macau casino operator Sands China Ltd has been reducing operating expenses in response to the dip in Macau tourism linked to Covid-19 outbreaks in the firm’s main source market, mainland China, said the company’s president, Wilfred Wong Ying Wai (pictured in a file photo).
Sands China had reduced the size of the non-resident workforce since the onset of the pandemic, but had kept local ID holders employed, and maintained training programmes for them, said Mr Wong in his Saturday comments on the sidelines of an event.
The volume of inbound tourists to Macau “might not change much” for the upcoming holiday period surrounding Labour Day in May, the executive stated.
“The only thing we can do now is to reduce all sorts of [operating] expenses a bit,” said Mr Wong.
The Sands China president added: “In terms of workforce, we have reduced some [staff], who are mainly imported labour; while we have kept the employment of the locals.”
About 75 percent of Sands China’s current workforce are Macao ID holders, he said.
“Since two years ago until now, we have reduced” the tally of the company’s non-resident workforce by “over 3,000,” he said.
If the Covid-19 challenges persist, the firm might have to slow some development-related investment, the Sands China president also stated.
“I believe that if this condition continues, some non-urgent development-related investment will be slowed a bit, except for some urgent maintenance work that needs to be done. This is inevitable considering such a difficult circumstance,” said Mr Wong. He did not specify to what work he was referring.
Sands China’s most-recent large-scale Macau scheme – a revamp of the former Sands Cotai Central resort as The Londoner Macao – has been launched in phases starting from February 8, 2021. That effort was now “largely complete”, including the launch of the Londoner Hotel and the luxury all-suite hotel, Londoner Court, according to the fourth quarter 2021 earnings call presentation released in January by Las Vegas Sands Corp, the parent of Sands China.
The amenities to be launched at the Londoner Macao complex include more food and drink outlets, shops, additional “London-themed” attractions, and the Londoner Arena, according to the presentation deck.
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