Macau, China, July 24, 2025 (Lusa) - Macau casino operator Sands China announced on Thursday net profits of US$214 million (€181.8 million) in the second quarter, down 13% from the same period in 2024.
Sands China had already recorded a year-on-year drop of 32% in first-quarter profits. This comes after ending 2024 with profits of US$1.05 billion (€891.8 million), an increase of 50.9%.
In contrast, revenue from the company's five casinos in Macau rose 2.5% between April and June to US$1.8 billion (€1.53 billion).
Macau is the world's gambling capital and the only place in China where casino gambling is legal.
With revenues on the rise, Sands China posted operating profits of US$566 million (€480.7 million) in the second quarter of 2025, up 0.9% year-on-year.
Robert Goldstein, president of Sands China's parent company, Las Vegas Sands (LVS), set a target for Macau casinos of operating profits of between US$600 million and US$650 million (between €509 million and €552 million) per quarter.
According to a statement from Sands China, Goldstein also said in a conference call with investors that the annual target through 2027 is operating profit of between US$2.6 billion and US$2.7 billion (between €2.2 billion and €2.3 billion).
According to official data, the gambling industry in Macau recorded total revenues of 61.1 billion patacas (€51.9 billion) between April and June, 8.3% more than in the same period in 2024.
Even so, Goldstein recalled that Sands China had made a “decade-long commitment to make investments that enhance Macau’s appeal for business and leisure tourism and support its development as a world tourism centre”.
The company is one of six casino operators in the territory whose ten-year concession contract came into effect on 1 January 2023.
At the time, the six operators committed to investing “more than 100 billion patacas” (€10.6 billion) in elements not related to gambling. Sands announced “an iconic winter garden” covering 50,000 square metres.
“We remain excited about our opportunities to achieve industry-leading growth in both Macau and Singapore in the coming years,” Goldstein noted.
Sands China made total investments of US$286 million (€242.9 million) between April and June, including US$138 million (€117.2 million) in Macau.
Most of the money went to refurbishing the Londoner Macao integrated hotel-casino resort, a partnership with former British footballer David Beckham.
The refurbishment was completed in mid-April, in time for the so-called “golden week” of 1 May, a holiday period in mainland China and a peak season for tourism in Macau.
VQ/AYLS // AYLS
Lusa
