SJM Holdings: Expect SJEC to resume dividend and buyback shares in the market in the next few years
1min read Las Vegas Sands Corp (LVS.US) said its Macau unit, Sands China (01928), is performing well and expects to resume dividend payments in the next few years, and hopes to repurchase shares in the market. LVS chairman and CEO Sheldon Adelson said he is confident about the outlook for the Chinese economy, and believes the interest in traveling to Macau will continue, along with the good performance of its VIP business, and will continue to invest in Macau.
Adelson, chairman and CEO of LVS, acknowledged that Sands China's retail business is facing challenges, but its gaming business is robust, continuing to grow at double-digit rates, and believes the impact of the recent stimulus measures in China on consumers will gradually emerge.
He said that Macau's visitor arrivals have already recovered to over 90% of pre-pandemic levels in the third quarter, with an increase in "day trips", and with the stimulus measures in China, the mass gaming and retail businesses are expected to benefit, and may become one of the business growth drivers in the next year and beyond.
According to the information, Las Vegas Sands Corp is one of the largest gaming and hotel operating companies in the world, owning a series of upscale gaming hotels led by The Venetian, and has many overseas investments in Asia, in addition to its home country.
