Las Vegas Sands is promoting its properties as the parent company of Sands China, a Macau casino operator.
The Kotai Arena, which can hold up to 15,000 seats, closed in January for renovations, according to a report by GGRAsia.
In a conference call after the parent's first-quarter earnings call, Mr Dumont also said the group had "began renovating its rooms" to the first Sheraton hotel tower, part of Phase 2 of the transformation at London's Macau casino resort (pictured).
"We plan to complete the first tower by the end of the year and the second by May 2025. Renovation of the casino on the Sheraton side of Macao, London, is expected to reopen in December 2024 and will begin in May this year," said Mr Dumont.
The COO acknowledged that the revamp at London Macao and Kotai Arena "had an impact" on the group's first-quarter performance.
"When we unveiled the [Kotai] Arena in January, we lost the benefits of our entertainment program during peak season," the executive said. "With a few hotel rooms and the arena unveiling, we felt that in terms of revenue."
"There's going to be chaos all year round," Mr. Dumont said. "You can't put a number on it, but it's not going to be unimportant."
However, he added: "While there will continue to be disruptions to these capital projects, our competitive position will be stronger than ever as these products come online between the end of 2024 and the first half of 2025."
According to the casino company, the price tag for the second phase of the Macao transformation in London amounts to US$1.2 billion. This includes the renovation of the Sheraton and Conrad hotels and the renovation of the Pacifica casino space.
After investing $1.35 billion (W1.35 billion) for the first phase, it features architecture from London's Palace of Westminster, including the Clock Tower, which is famous for its Big Ben. It cost an additional $400 million to develop Londoner Court, an accommodation tower with about 370 suites.
Additionally, Sands China Chief Executive Officer and President Grant Cheung-rok said that despite ongoing disruption related to changes in London Macao, Sands China was able to maintain adjusted real estate earnings by about "34%" in its first quarter interest, taxation, depreciation and amortisation (EBITDA) margin, which was "a really good number."
Mr Coom said the hotel group had lost "about 500 to 600 rooms" in the first quarter due to renovations to its first Sheraton hotel tower in London-the-Macao. The two Sheraton towers offer more than 4,000 rooms.
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