4/19/2023

speaker
Paul
Moderator

Good day, ladies and gentlemen, and welcome to the SANS first quarter 2023 earnings conference call. At this time, all participants have been placed on a listen-only mode, but we will open the floor for your questions and comments following the presentation. It is now my pleasure to turn the floor over to Mr. Daniel Briggs, Senior Vice President of Investor Relations at SANS. Sir, the floor is yours.

speaker
Daniel Briggs
Senior Vice President of Investor Relations

Thanks, Paul. Thank you all for joining the call today. With me today are Rob Goldstein, our Chairman and Chief Executive Officer, Patrick Dumont, our President and Chief Operating Officer, Dr. Wilfred Wong, the President of Sanchina, and Grant Chung, EVP of Asia Operations and COO of Sanchina. Today's conference call will contain forward-looking statements. We'll be making those statements under the safe harbor provision of federal securities laws. The company's actual results may differ materially from the results reflected in those forward-looking statements. In addition, we will discuss non-GAAP measures, Dan Mansoor- reconciliations to the most comparable gap financial measure are included in our press release, we have posted an earnings presentation on our website. Dan Mansoor- We may refer to that presentation during the call and finally for the Q amp a session. Dan Mansoor- We asked those with interest to please post one question and one follow up question, so we might allow everyone with interest, the opportunity to participate this presentation is being recorded i'll now turn the call over to rob.

speaker
Rob Goldstein
Chairman and Chief Executive Officer

Rob O' Thank you, Dan and thank you for joining the call. The results speak for themselves. There's a powerful recovery underway in Macau in both gaming and the non-gaming segments. The future looks very good for both markets. Our commitment to investing in both Macau and Singapore has never wavered. In Macau, following the relaxation of travel restrictions, increased visitation has driven gaming volumes, retail sales, and hotel occupancy during the quarter. In other words, business is back. SANS China is in a unique position to capture the opportunity. Our diversified IR model With continuous investment in non-gaming segments, mice, hotel suites, live entertainment, retail, food and beverage positions us well to deliver strong growth in the years ahead. Our focus is on all segments of the Macau market, including international tourists. We're excited to have the opportunity to deploy more capital to expand our non-gaming offerings in Macau. The $3.8 billion commitment we made as part of the concession tender is just the baseline. We will invest more in this extraordinary market. I look forward to everyone having the opportunity to witness the Londoner and the Four Seasons. The quality of our new product is exceptional. Maria Bay Sands delivered EBITDA of $394 million for the quarter. Mass Wind was an all-time property record of $549 million. Rolling volumes have nearly equaled the 2019 level. Our $1 billion suite and casino renovation program is progressing. More suite inventory will continue to come online throughout the remainder of the year. We'll have 400 suites available by the end of 2023, up from just 150 prior to our renovation. Okay, let's take some questions, and please ask away.

Disclaimer

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Investor presentation