{"id":8303,"date":"2022-08-09T00:00:00","date_gmt":"2022-08-09T00:00:00","guid":{"rendered":"https:\/\/www.mundovideo.com.co\/en\/asia\/deadline-for-sands-china-extension\/"},"modified":"2022-08-09T00:00:00","modified_gmt":"2022-08-09T00:00:00","slug":"deadline-for-sands-china-extension","status":"publish","type":"asia","link":"https:\/\/www.mundovideo.com.co\/en\/asia\/deadline-for-sands-china-extension\/","title":{"rendered":"Deadline for Sands China extension"},"content":{"rendered":"<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">Sands China has announced an extension of the deadline for exchanging US$1.95bn in outstanding notes until Monday, August 8. The senior notes were issued in three tranches, due in 2027, 2029 and 2031, but not registered for US regulatory purposes.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">The company proposes to swap them for new notes with the same coupon and maturity but registered under the US Securities Act 1933. More than 99 per cent of original certificate holders had submitted exchanges by the original August 4 deadline.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">Sands China has recently reported US$422m in net losses for Q2, an increase of 144 per cent over last year. The company reported an adjusted property EBITDA loss of US$110m. Revenue plunged by 56 per cent year-on-year to US$368m. The group incurred US$162m in interest expenses, while borrowings of US$951m under a credit facility raised the weighted average debt balance.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">As previously reported by Focus Gaming News, Sands China has entered into a loan agreement with Las Vegas Sands Corp (LVS) for MOP8bn (US$1bn) repayable on July 11, 2028.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">Las Vegas Sands CEO Robert Goldstein has suggested that the withdrawal of junket operations in Macau could be an opportunity for the company&rsquo;s subsidiary Sands China to increase profit margins in its casino operations.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">Goldstein stated: <\/span><\/span><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\"><em>&ldquo;The junket business &ndash; we always knew it &ndash; is a margin-challenged business. I feel grateful we have all this new space coming back to us that we can redeploy. I think it adds all kinds of premium opportunities for base mass, premium mass and direct premium as well. To me, it&rsquo;s a very valuable transition to a higher focus margin business<\/em><\/span><\/span><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">&rdquo;.<\/span><\/span><\/p>\n<p>&nbsp;<\/p>\n<p><span style=\"color:#333333\"><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">No Copyright infringement intended. Video\/Photo Unknown Direct for credits\/issue or text us +57 3606412 &#8230;&nbsp;<\/span><\/span><\/span><span style=\"color:#333333\"><span style=\"font-family:Arial,serif\"><span style=\"font-size:large\">| Respect to Photographers &amp; Influencers<\/span><\/span><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sands China has recently reported US$422m in net losses for Q2, an increase of 144 per cent over last year.<\/p>\n","protected":false},"author":1,"featured_media":5683,"menu_order":325,"comment_status":"open","ping_status":"open","template":"","format":"standard","meta":{"inline_featured_image":false,"_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[],"tags":[4192],"class_list":["post-8303","asia","type-asia","status-publish","format-standard","has-post-thumbnail","tag-sands-casino-extension-asia-sands-casino","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.6 - 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