Sands gains VIP share

Sands China Ltd. reported a 63.3 percent rise in net profit for the first quarter from a year earlier to $452.9 million. Revenues rose 39.3 percent to $2.02 billion. Mass tables showed the most growth, with the company’s win there matching the overall revenue rise to reach $863 million. VIP volumes rose 24.9 percent to $41 billion as the company’s share of that market rose to 17.4 percent from 12.6 percent. The gains however were uneven across the company’s Macau properties, with VIP volumes slipping 15.4 percent at the Venetian Macao due to renovations of the Paiza Club which took 18 tables out of service. The Sands Macao also removed 71 mass tables. The Sands Macao and the Plaza Casino at the Four Seasons Hotel reported a decline in revenue and operating profits as their VIP hold rates fell from a year earlier. The company also said it would develop a 40,000 square foot area in the Sands Cotai Central building that was to be a theater for gaming use.

The company also announced a licensing deal with DreamWorks Animation SKG Inc. that will result in a daily parade and other performances by characters from films such as  Kung Fu Panda and Madagascar at Sands’ Macau properties. Visitors will also be able to meet, eat and take photos with the characters.