Las Vegas Sands (LVS) Chairman and CEO Robert Goldstein has bemoaned the lingering impact of the US-China trade war, as well as increased domestic and regional competition and the rise of online gambling across Asia for sustained flatness in the Macau market.
Goldstein also expressed a desire to improve the performance of his company’s Macau subsidiary, Sands China, which he said had not lived up to recent expectations despite those expectations being dampened due to a raft of substantial renovation projects that have limited its hotel room supply.
The long-time LVS executive was speaking at Bernstein’s 41st Annual Strategic Decisions Conference where he observed that one of the main challenges facing the Macau land-based gaming market in 2025 was falling spend per customer – a trend he attributed to a series of macro factors.
