Las Vegas Sands Corporation (LVS) stated that Sands China has been operating well and expects it to resume dividend payout in the coming years and to actively repurchase shares in the market.
Robert G. Goldstein, Chairman and Chief Executive Officer (CEO) of LVS acknowledged that Sands China's retail business faces challenges, but the gambling sector is robust, continuing to record double-digit growth. He believes that various stimulus measures from the mainland will gradually impact consumers, although it is currently difficult to predict when and how this will manifest.
LVS also indicated that last quarter, the number of tourists to Macao had returned to over 90% of pre-pandemic levels and that the mainland's stimulus measures are expected to gradually benefit related businesses and could become one of the drivers of growth for next year. It holds confidence in China's economy and will continue to invest in Macao.
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