Sands China extends Wilfred Wong’s service contract until 2024

Gaming operator Sands China recently held its 2020 annual board meeting, with members approving an amendment to the service contract of President and Executive Director, Wilfred Wong Ying Wai, to extend its term from three to four years until February 20, 2024.

With the current Covid-19 pandemic in the background, during the meeting on June 19 the gaming concessionaire also re-elected Sheldon Adelson as Executive Director with 94 per cent of the votes, with Charles Daniel Forman and Victor Patrick Hoog Antink also re-elected as Non-Executive Directors.

Sands China saw its revenues plunge 65.1 per cent year-on-year in the first quarter of this year to some US$814 million (MOP6.5 billion), as the pandemic took its toll in the local gaming and tourism industry.

The group has also already indicated to have reported US$9 million (MOP71.8 million) in net revenues for April, a 98.7 per cent year-on-year decrease from the US$700 million reported in the same month of last year,