The president of American casino and resort company Las Vegas Sands; Rob Goldstein has today spoke out about the impacts of social distancing on the corporations’ properties in Singapore and Macau.
Following the decline in net revenue of more than fifty percent, the company is hopeful of a return sometime in June 2020 on the premise of social distancing, but said that Singapore may prove to be more challenging.
Rob Goldstein said:
“In Singapore, social distancing did have an impact, because we’re limited there in terms of size of the operation, and I think it will have an impact on Singapore in the future. The question is how long those social distancing measures stay in place and we just don’t know, but it will have an impact, negative in terms of Singapore.
In Macau, I think we’re in a much different position because of the scale and size of operations. We have so much square footage there and so many more slots and tables that I think we can do much better business in Macau than in Singapore vis-à-vis social distancing. I think in Macau, once we’ve opened the doors back up and the 14-day quarantine and the IVS is back in place, we’ll be able to do quite well and the social distancing will have a minimal impact. Singapore could be adversely impacted by social distancing.
We do believe there will be some opening in May perhaps, or June, although it won’t be a flick of the switch. It will be a gradual process and the one thing we’re grateful for is that the majority of our income is derived from Asia, which as you know has been through these situations in the past.
They are more conversant with the problems and so we think the recovery back to gambling, back to visitation, will come rather quickly, albeit in gradual phases throughout the summer.
We feel pretty confident we’ll be back to a much better place this summer and then a much better place in the fall, and we have seen evidence of pent up demand like crazy from our customers who are asking when and we talk to them pretty regularly.
So we feel pretty good about the return of Macau first, far beyond what we’re going to see in the US.”