Sands to Invest $1.1 Billion in London-Themed Macau Remodel Christopher Palmeri, Bloomberg · October 25, 2017 at 4:30 pm Las Vegas Sands Corp., capitalizing on the rebound in Macau gambling, will spend $1.1 billion renovating its properties there, including turning the Sands Cotai Central into a London-themed resort. The property will be rebranded as the Londoner Macao and feature attractions tied to some of the English capital’s most recognizable landmarks, the company said Wednesday in a statement. Sands has already invested over $13 billion in the region since it was the first U.S. company to open a casino there in 2002. The Four Seasons Macao will get 295 new suites in a separate tower.Run by billionaire Sheldon Adelson, Sands and its rivals have been looking for vindication for their bets on expensive new properties after withstanding a Beijing-led corruption crackdown that stalled growth in Macau for three years. Overall gambling revenue in the region rose 22 percent to 67 billion patacas ($8.34 billion) in the third quarter, the fifth in a row of year-over-year growth. Macau, the only place in China where casino gambling is legal, accounts more than half of Sands’ sales. The city is seeing a return of VIP players even as new resorts such as Sands’ Parisian lure more middle-class gamblers. Sands reported that third-quarter profit rose to 77 cents share excluding some items, beating the 68-cent average of analysts’ estimates. Sales grew 7.7 percent to $3.2 billion, exceeding Wall Street projections of $3.13 billion. Shares of Sands climbed 2.1 percent to $64.22 in extended trading. They fell 0.4 percent to $62.91 at the close in New York and have gained 18 percent this year. Sands is the first of the major Macau casino operators to report third-quarter results. Wynn Resorts Ltd. is scheduled to release its earnings on Thursday. In Macau, the company’s earnings before interest, taxes, depreciation and amortization rose 3.8 percent to $652 million, beating the $641.3 million average of estimates compiled by researcher Consensus Metrix. Profit in Singapore, Sands’ second-largest market, climbed 13 percent to $442 million. Ebitda in Las Vegas fell 12 percent to $76 million.