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4Q19 Earnings Call Presentation January 29, 2020 Forward Looking Statements
4Q19 Earnings Call Presentation January 29, 2020 Forward Looking Statements This presentation contains forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the company’s control, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to, general economic conditions, disruptions or reductions in travel, as well as in our operations, due to natural or man-made disasters, pandemics, epidemics, or outbreaks of infectious or contagious diseases such as the coronavirus originating in Wuhan, China, new development, construction and ventures, government regulation, risks relating to our gaming licenses and subconcession, fluctuations in currency exchange rates and interest rates, substantial leverage and debt service, gaming promoters, competition, tax law changes, infrastructure in Macao, political instability, civil unrest, terrorist acts or war, legalization of gaming, insurance, our subsidiaries’ ability to make distribution payments to us, and other factors detailed in the reports filed by Las Vegas Sands with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward- looking statements, which speak only as of the date thereof. Las Vegas Sands assumes no obligation to update such information. Within this presentation, the company may make reference -
Marina Bay Sands
3Q19 Earnings Call Presentation October 23, 2019 Forward Looking Statements This presentation contains forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve a number of risks, uncertainties or other factors beyond the company’s control, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to, general economic conditions, competition, new development, construction and ventures, substantial leverage and debt service, fluctuations in currency exchange rates and interest rates, government regulation, tax law changes and the impact of U.S. tax reform, legalization of gaming, natural or man- made disasters, terrorist acts or war, outbreaks of infectious diseases, insurance, gaming promoters, risks relating to our gaming licenses and subconcession, infrastructure in Macao, our subsidiaries’ ability to make distribution payments to us, and other factors detailed in the reports filed by Las Vegas Sands with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date thereof. Las Vegas Sands assumes no obligation to update such information. Within this presentation, the company may make reference to certain non-GAAP financial measures including “adjusted net income,” “adjusted earnings per diluted share,” and “consolidated adjusted property EBITDA,” which have directly comparable financial measures presented in accordance with accounting principles generally accepted in the United States of America ("GAAP"), along with “adjusted property EBITDA margin,” “hold-normalized adjusted property EBITDA,” “hold-normalized adjusted property EBITDA margin,” “hold-normalized adjusted net income,” and “hold-normalized adjusted earnings per diluted share,” as well as presenting these or other items on a constant currency basis. -
2020 Annual Report
Stock Code: 1928 and Note Stock Codes: 5140, 5141, 5142, 5725, 5727, 5733, 40246, 40247, 40584, 40585 www.sandschina.com From Luxury Duty Free Shopping, Exciting Entertainment and Fabulous Dining to World-Class Hotel Suites and MICE, Come and Discover Everything at Sands China. SANDS CHINA LTD. CONTENTS 1. OVERVIEW 4 1.1 Financial Results Summary 4 1.2 Highlights of 2020 5 1.3 Directors and Senior Management 11 2. BUSINESS REVIEW 18 2.1 Chairman’s Statement 18 2.2 Business Overview and Outlook 20 2.3 Our Properties 26 2.4 Management Discussion and Analysis 33 2.5 Priority Risk Factors 47 2.6 Stakeholder Information 59 3. CORPORATE GOVERNANCE 66 REPORT 3.1 Introduction 66 3.2 Corporate Governance Code Compliance 66 3.3 Board Governance Structure 67 3.4 The Board 68 3.5 Audit Committee 74 3.6 Remuneration Committee 76 3.7 Nomination Committee 78 3.8 Capex Committee 81 3.9 Risk Management and Internal Control 82 3.10 Shareholders 87 3.11 Compliance Disclosures and Other Matters 90 3.12 Directors’ Report 92 4. FINANCIAL STATEMENTS 113 4.1 Independent Auditor’s Report 113 4.2 Financial Statements 117 4.3 Notes to the Consolidated Financial Statements 123 4.4 Financial Summary 193 5. CORPORATE INFORMATION 194 6. CONTACT US 195 7. GLOSSARY 196 In case of any inconsistency between the English version and the Chinese version of this Annual Report, the English version shall prevail. SANDS CHINA LTD. 1.1 FINANCIAL HIGHLIGHTS 2 ANNUAL REPORT 2020 SANDS CHINA LTD. 1.1 FINANCIAL HIGHLIGHTS our Luxurious Hotel Rooms and Suites await you. -
Foster Plans New Beijing HQ As Base for China Expansion
FRIDAY August 12 2011 Issue 1977 £2.90 Making a splash bdonline.co.uk Zaha Hadid’s Aquatics Centre may be late to the party “One would think that one was in a but arrives with a flourish P.12 subterranean city, that’s how heavy is the atmosphere, how profound is A special bond the darkness!” Eric Parry is drawn to Fritz Höger’s Hamburg brick masterpiece P.16 BUILDING DESIGN ARCHITECTS’ FAVOURITE WEEKLY INSIDE NEWS ANALYSIS Architecture Foster plans new Beijing HQ and the riots Urban planning expert Wouter Vanstiphout looks at what this week’s violence could mean as base for China expansion for UK city development. P.3 NEWS Firm’s office will neighbour Ai Weiwei gallery and promote Chinese art and architecture Alsop’s latest incarnation Ellis Woodman galleries, it will have a café. It will “There is an Bank Headquarters in Hangzhou should take the plunge. “If you are host exhibitions by young artists awareness of and a scheme designed in collab- immersed in those places instead The name of Will Alsop’s latest Foster & Partners is designing its and architects in China. It will the fragility oration with Thomas Heather- of reading about them in the press venture, with ex RMJM principal own headquarters building in have an apartment for an artist in of being overly wick for the upmarket Bund dis- you do get a very different experi- Scott Lawrie, will be registered China as the firm looks to expand residence. dependent trict of Shanghai. ence.” in the next few weeks. P.5 the amount of business it carries “It will also be a centre for our- on one place” Foster said the firm was eyeing The company’s 2011 results will out in the country. -
4Q16 Earnings Call Presentation January 25, 2017
The Parisian Macao The Venetian Macao Sands Cotai Central, Macao Marina Bay Sands, Singapore (Opened Sept. 13, 2016) 4Q16 Earnings Call Presentation January 25, 2017 Sands Macao Four Seasons Macao Sands Bethlehem The Venetian Las Vegas The Palazzo, Las Vegas Forward Looking Statements This presentation contains forward‐looking statements that are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward‐looking statements involve a number of risks, uncertainties or other factors beyond the company’s control, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to, general economic conditions, competition, new development, construction and ventures, substantial leverage and debt service, government regulation, tax law changes, legalization of gaming, interest rates, future terrorist acts, influenza, insurance, gaming promoters, risks relating to our gaming licenses, certificate and subconcession, infrastructure in Macao, our ability to meet certain development deadlines, our subsidiaries’ ability to make distribution payments to us, and other factors detailed in the reports filed by Las Vegas Sands with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward‐looking statements, which speak only as of the date thereof. Las Vegas Sands assumes no obligation to update such information. Within this presentation, the company may make reference to certain non‐GAAP -
Morpheus Hotel Press Release
Studio London Morpheus, a new flagship hotel for the City of Dreams resort in Macau, 10 Bowling Green Lane London EC1R 0BQ opens Friday 15 June 2018. T +44 20 7253 5147 F +44 20 7251 8322 Asia’s most popular entertainment destination, Macau welcomed more than 32 [email protected] million tourists in 2017, with visitor numbers increasing every year. Located in www.zaha-hadid.com Cotai, Macau, City of Dreams is a leading integrated resort including casino, two theatres, shopping district, 20 restaurants and four hotels. Informed by the fluid forms within China’s rich traditions of jade carving, the Morpheus Hotel Morpheus’ design combines dramatic public spaces and generous guest rooms City of Dreams Resort with innovative engineering and formal cohesion. Macau Conceived as a vertical extrusion of its rectangular footprint, a series of voids is carved through its centre to create an urban window connecting the hotel’s interior communal spaces with the city and generating the sculptural forms that Press release define the hotel’s public spaces. 14 June 2018 Linked at ground level with the surrounding three-storey podium of the City of Dreams resort, the Morpheus houses 770 guest rooms, suites and sky villas, and includes civic spaces, meeting and event facilities, gaming rooms, lobby atrium, restaurants, spa and rooftop pool, as well as extensive back-of-house areas and ancillary facilities. The design resolves the hotel’s many complex programmes within a single cohesive envelope. Zaha Hadid Architects (ZHA) was commissioned to build the hotel in 2012. At that time, foundations were already in place of a condominium tower that did not progress. -
Morpheus Hotel Project Credits
Studio London 10 Bowling Green Lane Client: Melco Resorts & Entertainment London EC1R 0BQ T +44 20 7253 5147 Architect: Zaha Hadid Architects (ZHA) F +44 20 7251 8322 Design: Zaha Hadid and Patrik Schumacher [email protected] www.zaha-hadid.com ZHA Project directors: Viviana Muscettola, Michele Pasca di Magliano ZHA Facade director: Paolo Matteuzzi Morpheus Hotel ZHA Project architects: Michele Salvi, Bianca Cheung, Maria Loreto Flores, Clara Martins City of Dreams Resort Macau ZHA Project team: Miron Mutyaba, Milind Khade, Pierandrea Angius, Massimo Napoleoni, Stefano Iacopini, Davide Del Giudice, Luciano Letteriello, Luis Migue Samanez, Cyril Manyara, Alvin Triestanto, Muhammed Shameel, Goswin Rothenthal, Santiago Project Credits Fernandez-Achury, Vahid Eshraghi, Melika Aljukic ZHA Interior team: Daniel Fiser, Thomas Sonder, Daniel Coley, Yooyeon Noh, Jinqi Huang, Mirta Bilos, Alexander Kuroda, Gaganjit Singh, Marina Martinez, Shajay Bhooshan, Henry Louth, Filippo Nassetti, David Reeves, Marko Gligorov, Neil Ridgen, Milica Pihler- Mirjanic, Grace Chung, Mario Mattia, Mariagrazia Lanza ZHA Concept team: Viviana Muscettola, Tiago Correia, Clara Martins, Maria Loreto Flores, Victor Orive, Danilo Arsic, Ines Fontoura, Fabiano Costinanza, Rafael Gonzalez, Muhammed Shameel CONSULTANTS Executive architect: Leigh & Orange, Hong Kong Local architect: CAA City Planning & Engineering Consultants, Macau Structural engineering: Buro Happold International, London/Hong Kong M&E engineering: J. Roger Preston Facade engineering: Buro Happold International, Hong Kong Third party reviewer: Rolf Jensen & Associates Other interior designer: • Remedios Studio, Hong Kong – Guestrooms, L01 VIP lobby, L03 Spa & Gym, L40 Pool deck and pool villas • Westar Architects International – L02 Gaming areas & Li Ying Restaurant, L42 Gaming Salons Reg. VAT EC1R 0BQ.Registered Green Bowling Office: 10 Lane, London 3749443. -
Page 1 – 1 Barch Year 6 Continuity in Architecture
2010 Page 1 – 1 BArch Year 6 Continuity in Architecture Catalogue 2010 TABLE OF CONTENTS 2 – 3 Introduction from Head of School 4 – 17 BA (Hons) · Year 1 – 3 82 – 89 Research 4 – 5 Introduction 82 – 83 Architecture Research Centre at MIRIAD 6 – 9 Year 1 84 – 85 MA Architecture+Urbanism 10 – 13 Year 2 86 – 89 MARC · Manchester Architecture Research Centre 14 – 17 Year 3 18 – 81 BArch · Year 5 & 6 90 – 111 The School and the City 18 – 19 Introduction 90 – 91 msa squared International Collaboration & Exhibition 92 – 93 msa² · Manchester Society of Architects Design Awards 2010 22 – 29 Continuity in Architecture Year 5 & 6 96 – 97 MADF · Manchester Architecture & Design Festival Archaeology’s Places and Contemporary Uses · Venice 98 – 103 The Courtyard Project at the Manchester Museum Experiments in Urban Narratives · Manchester 104 – 107 Events month 108 – 109 mssa · the Manchester Student Society of Architecture 30 – 33 Emergent Urbanism Year 5 110 – 111 EASA 34 – 39 [Re_map] Year 6 International Workshop · Hannover 40 – 43 Prototype Year 5 44 – 47 Material-Space Year 5 48 – 53 Emergent Topographies Year 6 MAD-MAN 54 – 59 Displace Year 5 & 6 Heterotopia sequences workshop · Salerno & Naples, Italy 60 – 65 Biomimetics Year 5 & 6 Extreme Environments · Cornwall 66 – 71 msa Projects Year 5 & 6 Collaborations and Impact · Manchester City Council 72 – 75 Part-Time · Flexible Provision 76 – 77 BA · Humanities 78 – 79 BArch · Humanities 80 – 81 BArch · Technology · Climate Change, Proposition & Detail Page 1 Table of contents msa 2010 Catalogue 2010 INTRODUCTION Welcome to the 2010 review of the msa The school continues to be a popular and Student success this year includes the Kohn highly respected destination for the study of Pedersen Fox / Architecture Foundation Student – the catalogue summarises the breadth architecture in a city with a rich tradition and Travel Award won by Nandi (Marshal) Han, of activity within the school illustrating vibrant contemporary architectural scene. -
2Q18 Earnings Call Presentation July 25, 2018
The Venetian Macao Sands Cotai Central, Macao Marina Bay Sands, Singapore The Parisian Macao 2Q18 Earnings Call Presentation July 25, 2018 Sands Macao Four Seasons Macao Sands Bethlehem The Venetian Las Vegas The Palazzo, Las Vegas Forward Looking Statements This presentation contains forward‐looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward‐looking statements involve a number of risks, uncertainties or other factors beyond the company’s control, which may cause material differences in actual results, performance or other expectations. These factors include, but are not limited to, general economic conditions, competition, new development, construction and ventures, substantial leverage and debt service, fluctuations in currency exchange rates and interest rates, government regulation, tax law changes and the impact of U.S. tax reform, legalization of gaming, natural or man‐made disasters, terrorist acts or war, outbreaks of infectious diseases, insurance, gaming promoters, risks relating to our gaming licenses, certificate and subconcession, infrastructure in Macao, our subsidiaries’ ability to make distribution payments to us, and other factors detailed in the reports filed by Las Vegas Sands with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward‐looking statements, which speak only as of the date thereof. Las Vegas Sands assumes no obligation to update such information. Within this presentation, the -
Printmgr File
Safeguarding the well-being of our valued guests and colleagues is our top priority. Morpheus and Nüwa at City of Dreams, Star Tower at Studio City, Altira Macau and Nüwa at City of Dreams Manila have become among the first hotels and resorts in the world to achieve the Sharecare Health Security VERIFIED® with Forbes Travel Guide certification. Melco Resorts & Entertainment Limited | Annual Report 20202019 11 2 Melco Melco Resorts Resorts & & Entertainment Entertainment Limited Limited | | Annual Annual Report Report 2020 2020 Melco Resorts & Entertainment Limited | Annual Report 20202019 33 4 Melco Resorts & Entertainment Limited | Annual Report 2020 Melco Resorts & Entertainment Limited | Annual Report 20202019 55 6 Melco Resorts & Entertainment Limited | Annual Report 2020 Melco Resorts & Entertainment Limited | Annual Report 2019 77 8 Melco Resorts & Entertainment Limited | Annual Report 2020 Melco Resorts & Entertainment Limited | Annual Report 20202019 99 10 Melco Resorts & Entertainment Limited | Annual Report 2020 Melco Resorts & Entertainment Limited | Annual Report 2019 1111 12 Melco Resorts & Entertainment Limited | Annual Report 2020 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ‘ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR 12(g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR È ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ‘ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE -
Longleaf Partners Global Fund Commentary
Longleaf Partners December 31, 2017 4Q17 Global Fund Commentary Longleaf Partners Global Fund delivered a substantial The Fund’s strong return came in spite of both holding over 26.33% return in 2017, meaningfully exceeding our annual 10% cash in a rising market and having limited help from absolute goal of inflation plus 10% and the MSCI World much of what drove the index. Our investment discipline Index, up 22.40%, for the second consecutive year. The Fund requires a business with sustainable competitive advantage outperformed even after falling short in the fourth quarter as well as a material margin of safety between the stock price with a 2.64% gain versus 5.51% for the index. The Fund’s 2017 and intrinsic worth. This discipline resulted in cash but also results were particularly laudable given double-digit cash, in the Fund’s high 98% Active Share that made performance lower exposure to the industries and countries that drove MSCI all the more noteworthy. Information Technology (IT) drove World’s return and a market bias for momentum. much of the index results. The sector far surpassed all others with a 38% gain and was the largest contributor by far to Most companies positively contributed to the Fund’s performance. IT momentum chasing contributed to stocks that substantial 2017 results, and all of those posted double-digit others define as “growth” far surpassing those categorized gains. Investments that our management partners made in as “value,” 28% versus 17%. The Fund had one-third less the last few years began to deliver returns. -
Newsletter No 64 Spring 2011
Newsletter No 64 Spring 2011 AIA UK 2011 Excellence in Design Awards Winners Announced! Michael Lischer, FAIA The annual AIA UK’s Excellence in Design Awards Programme goes from strength to strength and is recognized for the high quality of entries and the variety of projects selected for award. By all accounts, the 2011 edition was a great success and culminated at the Awards Gala on the 13th of April. The capacity crowd at the Lilian Baylis Studio in London was entertained by presentations from each of the award winners, the 2011 jury, and Stef Kranendijk, CEO of the Desso, the Design Award’s sponsor. After the presentation of the awards, the swinging music from the jazz trio resumed and the wine flowed! Gala attendees took the opportunity to meet the winners and discuss their work during the reception that continued late into the evening. The jury chose to award four winners in the professional category and one Noel Hill Student Travel Award. The professional category was for built projects completed in the last three years by UK based architects for projects anywhere in the world and for architects based anywhere in the world for projects constructed in the UK. After much deliberation and discussion, the jury selected the following professional winners: EUROPEAN PROJECTS Terry Pawson Architects VISUAL - Centre for Contemporary Arts & The George Bernard Strange House Shaw Theatre, Carlow, Ireland SMALL PROJECTS Hugh Strange Architects Strange House, London, England INTERNATIONAL PROJECTS Zaha Hadid Architects Guangzhou Opera House, Guangzhow, China RENOVATION Haworth Tompkins The London Library, London, England 27 Old Gloucester Street London WC1N 3AX p: +44 (0)203 318 5722 continued on following page w: www.aiauk.org Centre for Contemporary Arts & The George Bernard Shaw Theatre AIA UK Excellence in Design Awards, cont.