• Subscribe
  • Magazines
  • About
  • Contact
  • Advertise
Wednesday 6 August 2025
  • zh-hant 中文
  • ja 日本語
  • en English
IAG
Advertisement
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
    • Africa
    • Australia
    • Cambodia
    • China
    • CNMI
    • Europe
    • Hong Kong
    • India
    • Japan
    • Laos
    • Latin America
    • Malaysia
    • Macau
    • Nepal
    • New Zealand
    • North America
    • North Korea
    • Philippines
    • Russia
    • Singapore
    • South Korea
    • Sri Lanka
    • Thailand
    • UAE
    • Vietnam
  • Events
  • Contributors
  • SUBSCRIBE FREE
  • 中文
No Result
View All Result
IAG
No Result
View All Result

Sands China seen resuming dividend payments in mid-2025

Ben Blaschke by Ben Blaschke
Fri 25 Oct 2024 at 04:28
A New Macau

The Londoner Macao

22
SHARES
557
VIEWS
Print Friendly, PDF & Email

Sands China has flagged its hopes of resuming dividend payments within the next year, with analysts suggesting this will likely take place midway through 2025.

The company’s senior management briefly addressed the issue during Thursday’s 3Q24 earnings call on Friday, stating, “The company will hopefully be a dividend payer in the upcoming year.”

Although Sands did not explicitly address the timing of dividend resumption, JP Morgan analysts said they “continue to model Sands China to resume dividend alongside its interim/2Q result, likely in a July/August 2025 time-frame.”

Citi’s George Choi also said he expects dividend payments to resume sometime in 2025.

A mid-2025 resumption would put such payments in line with the completion of long-running renovation works at The Londoner Macao as well as at The Venetian Macao’s Cotai Arena, which have significantly impacted Sands China’s earnings throughout 2024.

The renovation has included remodelling the old Pacifica Casino – now Londoner Grand Casino – which closed in May before reopening last month; Cotai Arena which shut down in January and will reopen in November; and the substantial upgrading of 4,000 hotel rooms at Sheraton Grand.

Sheraton is scheduled to reopen in May 2025 as the Londoner Grand hotel offering a total of 2,405 keys broken down as 1,500 suites and 905 rooms.

“The room disruption will subside significantly from January/February 2025 with 1000+ new suites in operation (versus only 300 suites back in operation from 4Q24), followed by the rest of the suites/rooms to reopen by May 2025,” said JP Morgan’s DS Kim, Mufan Shi and Selina Li.

“All-in, the disruption should have peaked in 3Q in our view, and Sands shares should gradually rebound into 2025 (and beyond) with newer and better assets.”

Sands China’s 3Q24 results, reported by Inside Asian Gaming early Thursday, comfortably beat consensus with revenue of US$1.77 billion up 1% quarter-on-quarter and Adjusted Property EBITDA of US$585 million up 4.3%.

While the company lost 220bps of Macau-wide GGR share due to the continued disruption, analysts believe the company is well positioned to rebound next year.

“Sands materially reduced player reinvestment,” stated Seaport Research Partners’ Vitaly Umansky. “Management has focused on not paying for business and reversed course from more aggressive actions in Q2, which we view as a positive.

“Sands will continue to face disruption in Macau in Q4, but with more redeveloped rooms and the Cotai Arena coming on-line by end of Q4 and into early next year, Sands is set up to gain share in 2025.”

Umansky added, “Sands’ competitive advantage in Macau in the long run is its scale (the largest casino operation, the largest number of hotel rooms, retail and F&B offerings, diversified product inventory) along with a revamped and more premium positioned Londoner product.

“Once the redevelopment is completed, and in a market that continues to grow, The Londoner could generate EBITDA similar to Venetian, which did US$1.4 billion in 2019. However, it will take some time to get to that level (likely 2027 or later in our view).

“Additionally, base mass has lagged recovery in Macau, relative to premium. Once the base mass recovery accelerates, Sands will be the lead beneficiary of this customer base.”

RelatedPosts

MGTO to launch 10-day market in Macau’s NAPE to help area transform ahead of pending satellite casino closures

MGTO to launch 10-day market in Macau’s NAPE to help area transform ahead of pending satellite casino closures

Tue 5 Aug 2025 at 14:59
Experts claim 90% of Macau money exchange gangs eradicated since passing of illegal gaming law

Morgan Stanley says Macau now a growth market, raising 2025 GGR and EBITDA forecasts after two consecutive monthly beats

Mon 4 Aug 2025 at 11:48
Macau GGR up 19% year-on-year to MOP$22.1 billion in July, sets new post-pandemic record

Macau GGR up 19% year-on-year to MOP$22.1 billion in July, sets new post-pandemic record

Fri 1 Aug 2025 at 12:49
Melco’s long-stalled Countdown Hotel at City of Dreams to be converted into 150-key all-suite hotel

Melco’s long-stalled Countdown Hotel at City of Dreams to be converted into 150-key all-suite hotel

Fri 1 Aug 2025 at 06:45
Load More
Tags: DividendsJP MorganMacauSands ChinaSeaport Research PartnersThe Londoner Macao
Share9Share2
Ben Blaschke

Ben Blaschke

A former sports journalist in Sydney, Australia, Ben has been Managing Editor of Inside Asian Gaming since early 2016. He played a leading role in developing and launching IAG Breakfast Briefing in April 2017 and oversees as well as being a key contributor to all of IAG’s editorial pursuits.

Current Issue

Editorial – Better late than never

Editorial – Better late than never

by Ben Blaschke
Thu 31 Jul 2025 at 07:13

Inside Asian Gaming has in recent weeks been hearing increasing chatter around a possible move by Vietnamese authorities to introduce...

Angel’s Yasushi Shigeta

Angel’s Yasushi Shigeta

by Ben Blaschke
Thu 31 Jul 2025 at 07:08

Yasushi Shigeta, Chairman and owner of one of the world’s largest gaming industry suppliers, Angel Group, sits down with Inside...

The Magic Number

The Magic Number

by David Bonnet
Thu 31 Jul 2025 at 06:41

In this in-depth deep dive into the evolution of the Asian gaming landscape, David Bonnet argues that many regional jurisdictions...

Rashid Suliman – A road well traveled

Rashid Suliman – A road well traveled

by Ben Blaschke
Thu 31 Jul 2025 at 02:45

Rashid Suliman, Vice President of Global Gaming Asia-Pacific for casino solutions provider TransAct Technologies, provides some insight into his unique...

Evolution Asia
Your browser does not support HTML5 video.
Aristocrat
GLI
Nustar
SABA
Mindslot
Solaire
Hann
Tecnet
HKUST
NWR

Related Posts

Game changer: WPT’s Adam Pliska

Tournament poker now legal in Thailand as Acting PM overturns long-standing ban

by Ben Blaschke
Wed 6 Aug 2025 at 05:52

Tournament poker is now officially legal in Thailand after the government on Monday overturned a long-standing ban on the activity. According to The Bangkok Post, Acting Prime Minister Phumtham Wechayachai signed an order legalizing poker games for money under controlled...

10 Years Ago: The Star war

NSW casinos given two-year reprieve on plan to lower daily cash limit to AU$1,000

by Ben Blaschke
Wed 6 Aug 2025 at 05:21

The NSW state government has postponed by two years a plan to lower the daily cash limit for casino customers from AU$5,000 (US$3,235) to AU$1,000 (US$647) by two years. The new limit – representing the amount of raw cash each...

Grand Korea Leisure books US$11.4 million profit in 1Q25 on higher casino sales, better margins

Casino revenue at Grand Korea Leisure up 12% month-on-month to US$28 million in July

by Newsdesk
Wed 6 Aug 2025 at 05:03

Foreigner-only casino operator Grand Korea Leisure (GKL) continued its recent surge in July, with casino revenue more than doubling year-on-year to KRW39.0 billion (US$28.1 million), also representing a 12.0% improvement over June. The solid numbers echo similar growth being experienced...

Zitro reduced amount of non-recyclable waste produced by 73% in just two years

Zitro reduced amount of non-recyclable waste produced by 73% in just two years

by Newsdesk
Wed 6 Aug 2025 at 04:51

Spanish gaming supplier Zitro has revealed it reduced the amount of non-recyclable waste it produced in 2024 by 73% compared to its baseline year of 2022. The achievement, it said, marks significant progress in its environmental strategy and commitment to...

Your browser does not support the video tag.


IAG

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • SUBSCRIBE FREE
  • NEWSFEED
  • MAG ARTICLES
  • VIDEO
  • OPINION
  • TAGS
  • REGIONAL
  • EVENTS
  • CONSULTING
  • CONTRIBUTORS
  • MAGAZINES
  • ABOUT
  • CONTACT
  • ADVERTISE
  • 中文

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Add New Playlist

No Result
View All Result
  • 中文
  • Subscribe
  • Newsfeed
  • Mag Articles
  • Video
  • Opinion
  • Tags
  • Regional
  • Events
  • Contributors
  • Magazines
  • Advertise
  • Contact
  • About
  • Home for G2E Asia

© 2005-2025
Inside Asian Gaming.
All rights reserved.

  • 中文
  • English