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Sheldon Adelson’s Las Vegas Sands Make Huge Profits Thanks To Macau Market

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Published on:
Jan/28/2018

All is good for Sheldon Adelson, the owner of Las Vegas Sands. The man has every reason to be happy. He is doing all he can to ensure his business thrives. For now, the Las Vegas mogul is making huge profits. The annual net rises each year. But where does he get much of his profit from? Before anybody knows where Adelson receives his money from, it is good to see something. His net profit grows by 137.9 percent in the last part of 2017. Overall, his firm gets over $2.81 billion in 2017. This number is huge when you compare with the previous year. In 2016, Adelson’s gaming company gives him $1.67.

The total growth percentage for 2017 is 68 percent. The rate, of course, includes facilities in Las Vegas and Macau. Now, where does the highest share of the revenue come from? It is from Macau. Gambling in Macau is thriving. But Sheldon says that his facilities are doing better than the rest. But he justifies when speaking to investors. The Las Vegas Sands CEO reports that efforts by Macau properties to attract visitors are paying off. The CEO says that he employs mechanisms to attract visitors.  He also points out to non-gaming facilities. To these, he says they are slowly boosting the gaming sector.

“There are structural advantages that enable us to drive mass non-gaming growth. These are fully evident during the quarter. There are a variety of things. One is the scale and range of our Las Vegas hotel suite inventory. The other is the diversity of our non-gaming offering. When I say, I mean in retail and entertainment. There is also the unique benefit of inter-connectivity between our Cotai properties. These advantages give us mileage over our competitors. They allow us to attract more overnight visitors than any other operator. We increase their length of stay,” Adelson says. The Las Vegas CEO says that hotel occupancy grows tremendously in the last quarter of 2017. His properties have 94 percent occupancy. Also, this is even after adding some 3, 000 rooms thanks to the Parisian hotel.

In general, all of his properties host over 1 million people in the last quarter alone. Above all, this is the number of those who book for rooms in his features.  Sheldon says that Venetian Macau, for instance, is doing well. The hotel welcomes over 290 million of visitors in its first ten years.  “So far, the Venetian is the most-visited hotel in Asia. I believe it is in the world if I am not wrong,” he says.

 The business mogul is hopeful that all the efforts will work. For now, he is planning to rebrand Sands Cotai Central. He says that by making it into the Londoner will be a success.  After renovations, the facility will be a different thing. The Las Vegas Sands owner is very optimistic that all will go well. He says, “Upon its completion, the Londoner will accommodate more overnight guests than the Venetian and the Parisian combined.

Business/Financial News

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