Las Vegas Sands is one of the largest casino operators in the world and has been dominating the gambling industry for a long time. Led by Sheldon Adelson, the company has had its ups and downs, and it seems that the third quarter of 2019 was definitely a “down,” as its overall revenue declined by 3.6 percent.
Although Las Vegas set some records this September, the company’s revenue dropped in it by 6.6 percent. However, it seems that Sands officials are not that worried about the future of the company, simply because LSV is focused on another part of the world.
In fact, Sands has had an extraordinary couple of years in the Asian market, and analysts at Bernstein predict that the company is going to be the leading force for the next five years in this area.
According to this brokerage’s statement, which was released recently, Las Vegas Sands has been dominant in Macau and Singapore, which are the two epicenters of Asian gambling.
It has had a lot of success there, and these two places could be vital for “pushing the company forward.” In fact, the analysts who work for Bernstein, Vitaly Umansky, Kelsey Zhu, and Eunice Lee, stated that Las Vegas Sands is essentially an “Asian gaming company.” There’s a good reason for that, since approximately 90 percent of its revenue comes from Asia, mainly the two gambling centers there.
Analysts stated that Sands held a total of a third of the entire inventory of hotel rooms in Macau, being a “strong foothold” in the segment of the mass market. They also added that Sands China has been dropping the overall quality of room offer, as they were not competitive enough in both high-quality rooms and high-end suites in that area.
On the other hand, the company is aware of that and works on not only adding to the capacity but also redeveloping and upscaling their offer of rooms. Analysts agree that Sands will definitely see great benefits in Macau’s segment of premium mass gaming.
LSV Focuses on China
Las Vegas Sands has been at the forefront of the Asian gambling market for quite a while now, as the company’s officials were able to predict the high growth of this type of entertainment, especially in Macau. That’s why the company is devoted to improving their offer there. In fact, there are several plans to make Macau even more inviting to tourists.
First of all, the existing Sands Cotai Central is currently being converted into The Londoner Macao, which will offer a total of 600 suites that will be created from the existing 1,200 rooms. The company also plans on adding all-suite hotels called London Tower Suites and Grand Suites at Four Seasons.
While the former will feature a total of 370 suites, the latter will feature an astonishing number of 2,909 suites. It’s safe to say that LSV has big plans and that it is definitely going to focus on Asia more in the future.