Macau casino operator Sands China Ltd will revamp the VIP gaming areas of some of its Cotai properties, the firm said in its half-year report published on Friday. The refurbishment works of the VIP areas at the Venetian Macao (pictured) and Plaza Macao are expected to be completed next year, the company stated in the report, filed with the Hong Kong Stock Exchange.
“The VIP gaming areas in the Venetian Macao will be refurbished to provide the best possible service to our VIP and premium players,” said the firm. Sands China said the renovation works are expected to begin early next year and to be completed in June 2018.
“The objective is to create a new benchmark VIP gaming area in Macau, with all the associated world-class facilities and amenities,” stated the company.
The firm additionally said it would be adding “private gaming salons” at the Venetian Macao.
Sands China will also be refurbishing the VIP gaming areas at the Plaza Macao, creating “new entrances to the property and private gaming salons” for its VIP guests. The project is scheduled to begin later this year and to be completed in February 2018.
In the half-year report, Sands China additionally said it would make private smoking rooms available to its VIP guests at the firm’s properties.
Macau’s Legislative Assembly approved on July 14 a revised bill on smoking that bans tableside tobacco use in VIP rooms. Although the new rules apply from January 1, 2018, tableside smoking at VIP rooms will in effect be able to continue until January 1, 2019, as casinos have been given a year’s grace period to set up VIP smoking lounges.
The casino operator said it would set up smoking lounges in all VIP areas, as well as upgrade existing smoking lounges in mass gaming floors in order “to comply with the enhanced technical standards” to be set by the Macau government according to the new tobacco control law.
“We will start the design process [for the smoking lounges] this year and construction work is expected to commence next year,” said Sands China.
The firm additionally said that it would continue to reinvest in its properties to maintain “high quality products and remain competitive in the market”.
The company said that the Venetian Macao hotel tower was currently being refurbished, with works expected to be completed before the 2018 Chinese New Year period. The annual holiday is usually a peak season for Macau’s casino industry.
“This includes all 2,841 standard hotel suites, 64 Paiza suites and associated corridors and lift lobbies. The renovation includes a complete refresh of the suites in a more contemporary style with all new furniture and fixtures,” the firm added.
Sands China also said it had completed in early August the refurbishment of the Four Seasons Hotel, located at Plaza Macao.
On Friday, the company reported profit of US$678 million for the six months to June 30, up 23 percent from a year earlier. Sands China said the increase was “primarily attributable to the opening of the Parisian Macao”, the company’s fourth casino resort on Cotai. The firm’s second quarter results had already been partially announced in July by its parent company, U.S.-based Las Vegas Sands Corp.
Mar 05, 2021Despite United States-based casino group Las Vegas Sands Corp (LVS) being in line to generate US$6.25 billion from the sale of its Las Vegas, Nevada assets, Fitch Ratings Inc said in a Thursday memo...
Mar 05, 2021
Mar 05, 2021
“Prolonged closure of operations could derail earnings recovery and weigh on NagaCorp’s credit quality"
Junling Tan, Yu Sheng Tay and Vikas Halan
Analysts at credit rating agency Moody’s Investors Service