{"id":215742,"date":"2022-06-02T11:13:00","date_gmt":"2022-06-02T18:13:00","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=215742"},"modified":"2022-06-02T11:24:45","modified_gmt":"2022-06-02T18:24:45","slug":"lvs-ceo-goldstein-remains-optimistic-on-macau-rebound","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/lvs-ceo-goldstein-remains-optimistic-on-macau-rebound\/","title":{"rendered":"Sands CEO Rob Goldstein Sees Macau Rebounding, Comfortable with Licensing"},"content":{"rendered":"

Las Vegas Sands (NYSE:LVS) CEO Rob Goldstein is comfortable with the gaming licensing situation in Macau, and believes it\u2019s just a matter of time before the world\u2019s largest casino center rebounds.<\/p>\n

\"Goldstein
Las Vegas CEO Rob Goldstein in an interview with Bloomberg<\/em>. He says it’s “unthinkable” Macau won’t rebound. (Image: Bloomberg<\/em>)<\/figcaption><\/figure>\n

Goldstein made the remarks at Bernstein\u2019s 38th Annual Strategic Decisions Conference, noting the issue of gaming permit renewal \u2013 a significant hurdle for the six Macau concessionaires in 2021 — is more tolerable today. The LVS boss also sees positivity in new regulations in the gaming hub.<\/p>\n

I don\u2019t think we should be concerned about the nuance of the gaming law. If anything, it\u2019s getting better for the operators. I think it\u2019s very favorable, and we shouldn\u2019t complain. Everyone gets a new license; life goes on,\u201d<\/strong> he said at the conference.<\/p><\/blockquote>\n

Because of the coronavirus pandemic, Macau authorities cannot earnestly tackle the issue of permit renewals this year. In March, it was revealed that the six concessionaires will pay about $6 million apiece<\/a> to have their licenses extended through the end of 2022.<\/p>\n

Macau a \u2018Black Box\u2019 for Investors<\/h2>\n

Casino stocks of all stripes are out of favor this year.<\/a> But those with Macau exposure are among the most repudiated, because China implemented a harsh zero coronavirus policy, which included severe travel restrictions.<\/p>\n

\n

That policy is frustrating executives<\/a>, including Goldstein, as it keeps would-be travelers at home in mainland China. However, Macau gaming venues are open, and operators are enduring significant cash burn as they wait for normalized travel trends to return.<\/p>\n<\/div>\n

\u201cMacau remains a total black box for the operators with exposure. There are no clear indicators as to when the Chinese market will fully ease their restrictive COVID measures<\/strong>, which should help drive the return of ‘normal’ business patterns to Macau,\u201d says Stifel analyst Steven Wieczynski in a recent note. \u201cAt this point, Macau operators are working on re-imaging or reengineering their business models for when the market opens back up.\u201d<\/p>\n

For his part, Goldstein believes Beijing is effectively managing the COVID-19 crisis, and that Chinese policymakers are being open with gaming operators.<\/p>\n

\u201cI think the government has done a good job, and the government has provided us with a lot of guidance. I won\u2019t publicly talk about what\u2019s happening in the inner circle. But I think all the operators have been rewarded for their patience and persistence, going through this whole thing,\u201d he said at the Bernstein conference.<\/p>\n

Optimistic About Macau Rebound<\/h2>\n

Sands China, the Macau arm of Las Vegas, operates six integrated resorts in the special administrative region (SAR), meaning its fortunes are highly tethered to a rebound there.<\/p>\n

Goldstein says it\u2019s \u201cunthinkable\u201d that such a recovery won\u2019t materialize.<\/strong><\/p>\n

\u201cI\u2019m a huge believer in China and the resurrection of the market,\u201d he said at the conference.<\/p>\n

He adds that Marina Bay Sands (MBS) in Singapore could return to pre-coronavirus levels prior to China fully reopening.<\/p>\n","protected":false},"excerpt":{"rendered":"

Las Vegas Sands (NYSE:LVS) CEO Rob Goldstein is comfortable with the gaming licensing situation in Macau, and believes it\u2019s just a matter of time before the world\u2019s largest casino center rebounds. Goldstein made the remarks at Bernstein\u2019s 38th Annual Strategic Decisions Conference, noting the issue of gaming permit renewal \u2013 a significant hurdle for the […]<\/p>\n","protected":false},"author":46,"featured_media":215743,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[],"acf":[],"yoast_head":"\nLVS CEO Goldstein Remains Optimistic On Macau Rebound<\/title>\n<meta name=\"description\" content=\"Sands CEO Goldstein Believes it's simply a matter of time before Macau recovers.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LVS CEO Goldstein Remains Optimistic On Macau Rebound\" \/>\n<meta property=\"og:description\" content=\"Sands CEO Goldstein Believes it's simply a matter of time before Macau recovers.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/lvs-ceo-goldstein-remains-optimistic-on-macau-rebound\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-06-02T18:13:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-06-02T18:24:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/RG.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1920\" \/>\n\t<meta property=\"og:image:height\" content=\"1080\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/lvs-ceo-goldstein-remains-optimistic-on-macau-rebound\/\",\"url\":\"https:\/\/www.casino.org\/news\/lvs-ceo-goldstein-remains-optimistic-on-macau-rebound\/\",\"name\":\"LVS CEO Goldstein Remains Optimistic On Macau Rebound\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/lvs-ceo-goldstein-remains-optimistic-on-macau-rebound\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/lvs-ceo-goldstein-remains-optimistic-on-macau-rebound\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/RG.jpg\",\"datePublished\":\"2022-06-02T18:13:00+00:00\",\"dateModified\":\"2022-06-02T18:24:45+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Sands CEO Goldstein Believes it's simply a matter of time before Macau recovers.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/lvs-ceo-goldstein-remains-optimistic-on-macau-rebound\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/lvs-ceo-goldstein-remains-optimistic-on-macau-rebound\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/lvs-ceo-goldstein-remains-optimistic-on-macau-rebound\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/RG.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/06\/RG.jpg\",\"width\":1920,\"height\":1080,\"caption\":\"Las Vegas CEO Rob Goldstein in an interview with Bloomberg. He says it's \\\"unthinkable\\\" Macau won't rebound. 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