Kotai Arena Reopens In November, Pacific Casino Regits Ready For December

Kotai Arena, a venue for performances and events at the Venetian Macau Casino Resort in the Kotai region of Macau, will "reopen in November" this year, said Patrick Dumont, president and chief operating officer of Las Vegas Sands Corp. on Wednesday.

Las Vegas Sands is the parent company of Macau casino operator Sands China, a promoter of the property.

With a capacity of up to 15,000 seats, Kotai Arena closed in January for renovation, GGRAsia reported.

In a conference call after the parent company's first-quarter earnings report, the Dumont chairman also said the group had "initiated a room renovation" of its first Sheraton hotel tower, part of the second phase of change at its London Macau casino resort (pictured).

"We plan to complete the first tower by the end of the year and the second by May 2025. Renovation of the casino on the Sheraton side of London and Macau will begin in May this year and reopen in December 2024," Mr. Dumont said.

The COO acknowledged that the revamp of London Macau and Kotai Arena had "impacted" the group's first-quarter results.

"When we opened [Kotai] Arena in January, we lost the benefits of our entertainment programmes during peak season," the executive says. "We felt this in terms of revenue as some hotel rooms went out and stadiums closed."

"There will be a pause," Mr. Dumont said throughout the year. "It can't be quantified, but it won't matter."

However, he added: "While there will be ongoing disruptions from these capital projects, with these products coming online between the end of 2024 and the first half of 2025, our competitiveness will be stronger than ever."

The second phase of the change in London and Macau costs US$1.2 billion, according to the casino company. This includes renovations at the Sheraton and Conrad hotels and a revamp of the Pacifica casino space.

London Macau, which invested $1.35 billion in the first phase, now features the architecture of London's Westminster Palace, including a clock tower popularly known as the Big Ben. An additional $400 million was spent on developing London Court, a lodging tower with about 370 suites. 동행복권파워볼

Also on the call, Sands China's chief executive and president, Grant Chumklak, said despite ongoing disruptions related to changes in London and Macau, Sands China was able to maintain property earnings adjusted to around "34%" in the first quarter, a "really good number."

Cheom said the first Sheraton hotel tower renovation in London and Macao had caused the group to "decrease by around 500 to 600 rooms" in the first quarter. The two Sheraton towers offer more than 4,000 rooms.