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Sands China Reports US$549 Million Net Loss for Q2 2020

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Sands China Ltd (SCL) has reported a loss of US$549 million for the three months to 30 June 2020, down from a net income of US$511 million in Q2 2019.

The figures, released by parent company Las Vegas Sands (LVS), reflect the tight border restrictions in place during the quarter to limit the spread of COVID-19, with SCL reporting a 98.1% decline in net revenues to just US$40 million.

Those revenues included just US$28 million at the Venetian Macao, down from US$854 million during the same quarter last year, US$10 million at Sands Cotai Central (down from US$483 million) and US$23 million at The Plaza and Four Seasons from US$211 million a year ago. The Parisian Macao reported a net revenue loss of US$19 million compared with net revenues of US$414 million in Q2 2019.

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The Venetian Macao fell to an Adjusted EBITDA loss of US$97 million, Sands Cotai Central a loss of US$79 million and the Parisian Macao a loss of US$81 million. Adjusted EBITDA loss for all Macau operations totaled US$312 million.

LVS, which suffered a group-wide loss of US$985 million in 2Q20 on net revenues of just US$98 million, revealed capital expenditure of US$382 million for the quarter of which US$337 million was in Macau, where the company is transforming Sands Cotai Central into The Londoner Macao.

“I am pleased to say that the early stages of the recovery process from the COVID-19 pandemic in each of our markets is now underway,” said LVS Chairman and CEO Sheldon Adelson.

“Our greatest priority during this period of the recovery remains our deep commitment to supporting our team members and to helping those in need in each of our local communities of Macau, Singapore and Las Vegas.

“We remain optimistic about an eventual recovery of travel and tourism spending across our markets, as well as our future growth prospects. We are fortunate that our financial strength will enable us to continue to execute our previously announced capital expenditure programs in both Macau and Singapore, while continuing to pursue growth opportunities in new markets.”

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S8UL rebrands as S∞UL on Valentine’s Day to celebrate the infinite love of gaming

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This Valentine’s Day, India’s leading esports and gaming organization, S8UL, is embracing the spirit of love with a special rebranding. In celebration of the special day, S8UL has transformed itself into S∞UL, a name that symbolizes S(oul), 8 (Infinity) and UL (You & Love), representing infinite love for gaming, community, and its fans.

Beyond competition, gaming is rooted in passion, friendship, and building strong community bonds. It has a unique ability to transcend geographical as well as cultural boundaries to strengthen connections and create lasting memories.

A report by the Entertainment Software Association (ESA), which included a survey of 13,000 players across 12 countries, found that 42% of gamers met a good friend, spouse, or significant other through video games.

With its infinity-inspired makeover, S8UL aims to cherish the deep connection between its creators, players, and supporters who make up the heart of the gaming ecosystem.

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To make the occasion even more special, S8UL is launching the #S8ULMates campaign, inviting fans to share their most cherished moments with the organization. Whether it’s a selfie with an S8UL creator, an unforgettable event experience, or a memory that defines their journey with the gaming powerhouse, fans can participate by posting about their favourite S8UL moment and expressing what the organization means to them. The best entries not only have a chance to be featured on S8UL’s official social media channels but also to win exclusive S8UL merchandise or a video call with their favorite S8UL creator.

How to participate in the #S8ULMates campaign:

  1. Post a photo
  2. Write a sentence about what S8UL means to you
  3. Tag @S8ULEsports and use the hashtag #S8ULMates to enter

S8UL’s prominent creators, including Naman Mathur (Mortal), Kaashvi Hiranandani (KaashPlays), Raj Varma (Snax), Payal Dhare (PayalGaming), Gulrez Khan (JokerKiHaveli), Aman Jain (Soul Aman) and others, will also be actively engaging with fans as part of the campaign.

Recently, S8UL’s prominent creator Kaashvi Hiranandani (KaashPlays) unveiled her new IP, ‘Kaash We Match’, a blind dating show that blends romance, gaming, and humor. The 12-episode series, which began in December 2024, offers a fresh take on dating shows by featuring cooperative gaming challenges like It Takes Two and Chained Together, designed to test contestants’ chemistry.

As S8UL and its creators continue to push the boundaries of content creation and esports in India, this rebranding is a tribute to the fans who make it all possible because, in gaming and in life, some bonds last forever.

The post S8UL rebrands as S∞UL on Valentine’s Day to celebrate the infinite love of gaming appeared first on European Gaming Industry News.

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DigiPlus Secures Three Prestigious Wins at the 2024 World Business Outlook Awards

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DigiPlus Interactive, the company behind leading digital entertainment brands BingoPlus, ArenaPlus and GameZone, has won three awards at the World Business Outlook Awards 2024. DigiPlus was awarded “Excellence in Technological Advancement and Integration,” “Excellence in Corporate Social Responsibility and Sustainable Practices” and “Best in Corporate Governance and Ethical Practices.”

The award for Excellence in Technological Advancement and Integration highlights DigiPlus’ transformative efforts in delivering world-class entertainment experiences while preserving cultural heritage.

DigiPlus’ commitment to ethical leadership earned it the Best in Corporate Governance and Ethical Practices award, as it upholds the highest standards of transparency, accountability and integrity – principles embedded deeply into the company’s governance frameworks and operations.

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The Excellence in Corporate Social Responsibility (CSR) and Sustainable Practices award underscores DigiPlus’ dedication to creating lasting impact through the BingoPlus Foundation, which operates with a ₱100 million commitment for CSR this year. Key projects include giving scholarships and robotics kits for youth, providing healthcare support for underserved communities and establishing PLUS centres for livelihood and healthcare.

“These awards serve as inspiration for us to keep raising the bar. At DigiPlus, we believe that innovation goes hand-in-hand with responsibility. We are driven to create platforms and experiences that not only entertain but also uplift communities and reinforce trust among our stakeholders,” said DigiPlus Chairman Eusebio Tanco.

The post DigiPlus Secures Three Prestigious Wins at the 2024 World Business Outlook Awards appeared first on European Gaming Industry News.

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PAGCOR, SMC BREAK GROUND FOR NEW PAGCOR CORPORATE CENTER

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The Philippine Amusement and Gaming Corporation (PAGCOR) and San Miguel Corporation (SMC) today broke ground for the state gaming firm’s new corporate office building at the Bagong Nayong Pilipino complex in Pasay City.

The PAGCOR Corporate Center – valued at Php2.45 billion – will be fully financed and constructed by SMC at no cost to PAGCOR, said Chairman and CEO Alejandro Tengco who led the project’s groundbreaking with SMC Chairman Ramon Ang.

During the simple ceremony, Mr. Tengco noted that for over four decades, PAGCOR has operated from various rented spaces under less-than-ideal conditions, with its workforce dispersed across multiple locations.

“Ang araw na ito ay katuparan ng isang pangarap para sa PAGCOR na magkaroon ng sariling tahanan,” he said. “We are truly blessed to witness this historic moment as we lay the groundwork for a vision that reflects our identity, core values and aspirations as an organization.”

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The corporate center will have a floor area of 40,000 square meters, with an additional 15,000 square meters designated for comprehensive fit-out.

“Since PAGCOR will not occupy all 40,000 square meters, we plan to lease some of the commercial spaces to generate rental income,” Chairman Tengco said. “These rental earnings should be enough to cover the building’s maintenance costs.”

Mr. Tengco said the agency’s collaboration with SMC exemplifies how private-public partnerships can maximize the potential of government assets to create more economic opportunities.

“The Nayong Pilipino complex, once known for its rich attractions, culture and history, had long lain dormant,” Mr. Tengco said. “Today, it is set to be transformed into a vibrant symbol of progress and opportunity for PAGCOR.”

For his part, SMC Chairman Ramon Ang said the construction of the PAGCOR Corporate Center represents a mutually beneficial partnership between the state gaming firm and the conglomerate.

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“This is a mutually beneficial partnership between PAGCOR and SMC,” he said. “While SMC will construct the Corporate Center, we will also use PAGCOR’s Nayong Pilipino property to build infrastructure that will complement airport requirements.”

The PAGCOR Corporate Center was designed by JSLA architectural design firm and will be built by New Golden City Builders. Both companies are known for big-ticket infrastructure projects in the country.

“SMC only commissioned the best architects and construction firms to ensure the project’s completion by 2028,” Mr. Ang added.

The construction of PAGCOR’s Corporate Center is part of the 25-year lease agreement entered into by the state gaming agency with SMC last December 12, 2024.

Aside from funding the building construction, SMC will pay monthly rental fees – with an annual escalation – for the use of PAGCOR’s 13-hectare Nayong Pilipino property for aviation-related projects.

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The post PAGCOR, SMC BREAK GROUND FOR NEW PAGCOR CORPORATE CENTER appeared first on European Gaming Industry News.

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