Sands China has repaid a subordinated unsecured term loan of $1bn to its Las Vegas Sands holding firm three years before its deadline.
The loan Sands China received from LVS on July 2022 was repayable on July 11, 2028, according to Asia Gaming Brief.
A Friday filing by the Macau gaming operator with the Hong Kong Stock Exchange stated the Sands China board was “pleased to announce” the full loan repayment on March 27.
Paying off the hefty loan early reflects Sands China’s strong financial performance over 2024, with the LVS subsidiary indicating in February it would be dishing out its “first dividend in five years.”
10.4% percent annual increase in net casino revenues
The Macau-headquartered firm reported a profit of $1.05bn for the full year 2024, while total net revenues for the same year hit $7.08bn, an 8.4% yearly increase. The results were driven by Sands China’s 10.4% annual increase in net casino revenues to the total tune of $5.35bn.
Macau continues to represent a major focus for LVS, with Chairman Robert Goldstein indicating that the Las Vegas-headquartered group has invested around $17bn “to diversify Macau’s economy and create Asia’s leading leisure and business tourism destination.”