Net income for Sands China Ltd. increased 100.1 percent to US$267.4 million (MOP2.14 billion) in the second quarter of 2011, compared to a year before. Net revenues for the gaming operator rose 16.3 percent to US$1.21 billion in the same period, while adjusted property EBITDA went up by 27.1 percent to US$382.1 million, its parent company, Las Vegas Sands announced last night. In a conference call after announcing the results, Michael Leven, acting chief executive officer of Sands China announced the opening of parcel five in Cotai for the first quarter of 2012. “We have finalized franchising agreements with two very prominent international hotel brands for lot five and are now working with those companies to coordinate an announcement of those brands — which we expect will come very soon,” he said. “The opening of what we are calling lot six A, which will feature nearly 2,000 Sheraton-branded rooms, is on track for the third quarter of 2012,” Mr Leven added. Lot six B is schedule to open in early 2013. Mr Leven commented that it is expected that there will be approximately 200 gaming tables at each of the two casinos on parcels five and six and approximately 120–130 gaming tables in Paiza club. He also said Sands China will invest US$125 million in hardware to boost its VIP business. That includes “a variety of projects, several of which will be completed ahead of Chinese New Year 2012.” Finally, Sands China announced the promotion of Edward Tracy to the position of chief executive officer. Overall, Las Vegas Sands announced net income in the second quarter of 2011 increased to US$367.6 million, compared to a net loss of US$4.7 million in the second quarter of 2010. That was principally due to stronger results in Macau and at Marina Bay Sands in Singapore.