Sands China (SCHYF) F-4/A4 Dec 20Registration of securities (foreign) (amended)Financial data

Company Profile

Cover

Cover	6 Months Ended
Cover	Jun. 30, 2020
Cover [Abstract]
Document Type	F-4/A
Amendment Flag	true
Entity Registrant Name	Sands China Ltd.
Entity Central Index Key	0001755281
Entity Emerging Growth Company	false
Entity Accounting Standard	IFRS
Amendment Description	To add XBRL tagging

Consolidated Income Statements

Consolidated Income Statements $ in Millions	6 Months Ended						12 Months Ended
Consolidated Income Statements $ in Millions	Jun. 30, 2020USD ($)$ / shares		Jun. 30, 2020$ / shares	Jun. 30, 2019USD ($)$ / shares		Jun. 30, 2019$ / shares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2019$ / shares	[4]	Dec. 31, 2018USD ($)$ / shares	Dec. 31, 2018$ / shares	[4]	Dec. 31, 2017USD ($)$ / shares		Dec. 31, 2017$ / shares	[4]
Profit or loss [abstract]
Net revenues	$ 848			$ 4,468			$ 8,808			$ 8,665			$ 7,586	[1]
Gaming tax	(336)			(1,757)			(3,421)			(3,430)			(2,925)	[2]
Employee benefit expenses	(554)			(651)			(1,292)			(1,238)			(1,193)	[2]
Depreciation and amortization	(338)			(364)			(706)			(655)			(676)	[2]
Inventories consumed	(11)			(50)			(97)			(99)			(98)	[2]
Other expenses and losses	(218)			(459)			(1,017)			(1,089)			(921)	[2]
Other expenses, gains and losses	(218)			(459)			(1,017)			(1,089)			(921)	[2]
Operating (loss) profit	(609)			1,187			2,275			2,154			1,773	[2]
Interest income	9			21			38			20			5	[2]
Interest expense, net of amounts capitalized	(116)			(147)			(280)			(225)			(153)	[2]
Loss on modification or early retirement of debt							0			(81)			0	[2]
(Loss) profit before income tax	(716)			1,061			2,033			1,868			1,625	[2]
Income tax (expense) benefit	0			6			0			7			(22)	[2]
(Loss) profit for the period attributable to equity holders of the Company	$ (716)			$ 1,067			$ 2,033			$ 1,875			$ 1,603	[2]
(Loss) earnings per share for (loss) profit attributable to equity holders of the Company
Basic (in US$ per share) \| (per share)	$ (0.0885)	[3]	$ (0.6859)	$ 0.1320	[3]	$ 1.0316	$ 0.2514	$ 1.9579		$ 0.2321	$ 1.8175		$ 0.1986	[2]	$ 1.5522
Diluted (in US$ per share) \| (per share)	$ (0.0885)	[3]	$ (0.6859)	$ 0.1319	[3]	$ 1.0308	$ 0.2513	$ 1.9571		$ 0.2319	$ 1.8159		$ 0.1985	[2]	$ 1.5514

[1]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[2]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[3]	The translation of US$ amounts into HK$ amounts has been made at the exchange rate of US$1.00 to HK$7.7504 (six months ended June 30, 2019: US$1.00 to HK$7.8152).
[4]	The translation of US$ amounts into HK$ amounts has been made at the exchange rate on December 31, 2017, 2018 and 2019 of US$1.00 to HK$7.8157, US$1.00 to HK$7.8306 and US$1.00 to HK$7.7879, respectively.

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of comprehensive income [abstract]
(Loss) profit for the period attributable to equity holders of the Company	$ (716)	$ 1,067	$ 2,033	$ 1,875	$ 1,603	[1]
Item that will not be reclassified subsequently to profit or loss:
Currency translation differences	15	4	16	(12)	(22)
Total comprehensive (expense) income for the period attributable to equity holders of the Company	$ (701)	$ 1,071	$ 2,049	$ 1,863	$ 1,581

[1]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.

Statement of financial position

Statement of financial position, current/non-current (Statement) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Non-current assets
Investment properties, net	$ 561	$ 587	$ 629	[1]
Property and equipment, net	8,684	8,361	8,134	[1]
Intangible assets, net	46	48	46	[1]
Other assets, net	32	34	47	[1]
Other receivables and prepayments, net	20	23	22	[1]
Trade and other receivables and prepayments, net	20	23	22	[1]
Total non-current assets	9,343	9,053	8,878	[1]
Current assets
Inventories	16	16	14	[1]
Other assets	13	35	0	[1]
Trade and other receivables and prepayments, net	355	510	477	[1]
Restricted cash and cash equivalents	16	15	13	[1]
Cash and cash equivalents	1,592	2,471	2,676	[1]
Total current assets	1,992	3,047	3,180	[1]
Total assets	11,335	12,100	12,058	[1]
EQUITY
Share capital	81	81	81
Reserves	2,648	4,365	4,328
Total equity	2,729	4,446	4,409
Non-current liabilities
Trade and other payables	119	122	104
Borrowings	7,054	5,589	5,552
Deferred income tax liabilities	42	45	50
Total non-current liabilities	7,215	5,756	5,706
Current liabilities
Trade and other payables	1,370	1,874	1,928
Current income tax liabilities	2	5	5
Borrowings	19	19	10
Total current liabilities	1,391	1,898	1,943
Total liabilities	8,606	7,654	7,649
Total equity and liabilities	11,335	12,100	12,058
Net current assets	601	1,149	1,237
Total assets less current liabilities	$ 9,944	$ 10,202	$ 10,115

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.

Consolidated Statements of Chan

Consolidated Statements of Changes in Equity - USD ($) $ in Millions	Total		Share capital	Capital reserve	Share premium	Statutory reserve	Share-based compensation reserves	Currency translation reserve	Retained earnings
Beginning balance at Dec. 31, 2016	$ 5,007		$ 81	$ 87	$ 1,411	$ 6	$ 89	$ 6	$ 3,327
(Loss) Profit for the period	1,603	[1]							1,603
Other comprehensive income (expense) for the period	(22)							(22)
Total comprehensive (expense) income	1,581							(22)	1,603
Exercise of share options	12				12
Conversion of equity awards to liability awards	(5)						(5)
Transfer to share premium upon exercise of share options					5		(5)
Forfeiture of share options							(3)		3
Share-based compensation of the Company	12						12
Dividends to equity holders of the Company	(2,069)								(2,069)
Ending balance at Dec. 31, 2017	4,538		81	87	1,428	6	88	(16)	2,864
Ending balance at Jan. 01, 2018	4,562		81	87	1,428	6	88	(16)	2,888
Changes on initial application of IFRS 9	24								24
Beginning balance at Dec. 31, 2017	4,538		81	87	1,428	6	88	(16)	2,864
(Loss) Profit for the period	1,875								1,875
Other comprehensive income (expense) for the period	(12)							(12)
Total comprehensive (expense) income	1,863							(12)	1,875
Exercise of share options	23				23
Transfer to share premium upon exercise of share options					6		(6)
Forfeiture of share options							(4)		4
Share-based compensation of the Company	14						14
Dividends to equity holders of the Company	(2,053)								(2,053)
Ending balance at Dec. 31, 2018	4,409		81	87	1,457	6	92	(28)	2,714
(Loss) Profit for the period	1,067								1,067
Other comprehensive income (expense) for the period	4							4
Total comprehensive (expense) income	1,071							4	1,067
Exercise of share options	23				23
Transfer to share premium upon exercise of share options					4		(4)
Forfeiture of share options							(1)		1
Share-based compensation of the Company	7						7
Dividends to equity holders of the Company	(2,054)								(2,054)
Ending balance at Jun. 30, 2019	3,456		81	87	1,484	6	94	(24)	1,728
Beginning balance at Dec. 31, 2018	4,409		81	87	1,457	6	92	(28)	2,714
(Loss) Profit for the period	2,033								2,033
Other comprehensive income (expense) for the period	16							16
Total comprehensive (expense) income	2,049							16	2,033
Exercise of share options	28				28
Transfer to share premium upon exercise of share options					6		(6)
Forfeiture of share options							(3)		3
Share-based compensation of the Company	14						14
Dividends to equity holders of the Company	(2,054)								(2,054)
Ending balance at Dec. 31, 2019	4,446		81	87	1,491	6	97	(12)	2,696
(Loss) Profit for the period	(716)								(716)
Other comprehensive income (expense) for the period	15							15
Total comprehensive (expense) income	(701)							15	(716)
Exercise of share options	2				2
Transfer to share premium upon exercise of share options					1		(1)
Forfeiture of share options							(3)		3
Share-based compensation of the Company	7						7
Dividends to equity holders of the Company	(1,025)								(1,025)
Ending balance at Jun. 30, 2020	$ 2,729		$ 81	$ 87	$ 1,494	$ 6	$ 100	$ 3	$ 958

[1]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.

Statement of cash flows, indire

Statement of cash flows, indirect method (Statement) - USD ($) $ in Millions	6 Months Ended			12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019		Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2017
Net cash generated from (used in) operating activities
Cash generated from operations				$ 2,818		$ 3,055		$ 2,632
Income tax paid				(6)		(6)		(6)
Net cash generated from (used in) operating activities	$ (644)	$ 1,486		2,812		3,049		2,626
Cash flows from (used in) investing activities
Increase in restricted cash and cash equivalents	(1)	(1)		(2)		(2)		(1)
Purchases of property and equipment	(561)	(212)		(720)		(492)		(423)
Additions to investment properties	(3)	(6)		(16)		(16)		(45)
Purchases of intangible assets	(7)	(7)		(18)		(24)		(9)
Proceeds from disposal of property and equipment, investment properties and intangible assets	0	1		1		5		13
Interest received	11	24		40		16		4
Net cash from (used in) investing activities	(561)	(201)		(715)		(513)		(461)
Cash flows from (used in) financing activities
Proceeds from exercise of share options	2	23		28		23		12
Proceeds from Senior Notes	1,496	0		0		5,500		0
Proceeds from bank loans	403	0		0		746		650
Repayments of bank loans	(404)	0		0		(5,083)		(669)
Dividends paid	(1,030)	(2,051)		(2,051)		(2,052)		(2,067)
Repayments of lease liabilities	(7)	(8)		(13)		(15)		(5)
Payments for deferred financing costs	(12)	(2)		(2)		(90)		0
Interest paid	(120)	(140)		(274)		(128)		(128)
Net cash from (used in) financing activities	328	(2,178)		(2,312)		(1,099)		(2,207)
Net increase (decrease) in cash and cash equivalents	(877)	(893)		(215)		1,437		(42)
Cash and cash equivalents at beginning of period	2,471	2,676	[1]	2,676	[1]	1,239		1,284
Effect of exchange rate on cash and cash equivalents	(2)	2		10		0		(3)
Cash and cash equivalents at end of period	1,592	1,785		2,471		2,676	[1]	$ 1,239
Cash and cash equivalents comprised
Cash at bank and on hand	202	485
Short-term bank deposits	$ 1,390	$ 1,300		$ 1,886		$ 2,173

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.

General information

General information	6 Months Ended	12 Months Ended
General information	Jun. 30, 2020	Dec. 31, 2019
Disclosure of general information about financial statements [Abstract]
Disclosure of general information about financial statements [text block]	GENERAL INFORMATION Principal activities The Group is principally engaged in the operation of casino games of chance or games of other forms and the development and operation of integrated resorts and other ancillary services in Macao. The Group’s immediate holding company is Venetian Venture Development Intermediate II. Las Vegas Sands Corp., a company incorporated in Nevada, U.S.A. which indirectly holds 69.9% ownership interest in the Group as at June 30, 2020, is the Group’s ultimate holding company. The Company was incorporated in the Cayman Islands on July 15, 2009 as an exempted company with limited liability under the Companies Law, Cap 22 (Law 3 of 1961, as consolidated and revised) of the Cayman Islands. The address of the Company’s registered office is Intertrust Corporate Services (Cayman) Limited, 190 Elgin Avenue, George Town, Grand Cayman KY1-9005, Cayman Islands. The Company’s principal place of business is Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong. The Group owns and operates The Venetian Macao, Sands Cotai Central, The Parisian Macao, The Plaza Macao and Sands Macao. The Group’s properties collectively feature some of the world's largest casinos, luxury suites and hotel rooms, different restaurants and food outlets, spas and theaters for live performances, as well as other integrated resort amenities. In 2020, the Group continued to progress on key development projects for the conversion of Sands Cotai Central into The Londoner Macao. The Group expects the Londoner Court to be completed in late 2020 and The Londoner Macao project to be completed in phases throughout 2020 and 2021. The construction of The Grand Suites at Four Seasons is now complete and features 289 luxury suites. We have initiated approved gaming operations in this space and are utilizing suites on a simulation basis for trial and feedback purposes. The unaudited condensed consolidated financial statements are presented in millions of units of United States dollars (“US$ in millions”), unless otherwise stated. The condensed consolidated financial statements were approved for issue by the Board of Directors of the Company on August 14, 2020. These condensed consolidated financial statements have not been audited. Recent developments COVID-19 Pandemic In early January 2020, an outbreak of a respiratory illness caused by a novel coronavirus was identified and the disease has since spread rapidly across the world causing the World Health Organization to declare the outbreak of a pandemic on March 12, 2020. As a result, people across the globe have been advised to avoid non-essential travel. Steps have also been taken by various countries to restrict inbound international travel and implement closures of non-essential operations to contain the spread of the virus. Visitation to Macao has decreased substantially, driven by various government policies limiting travel. The China IVS and tour group visas were suspended, and a complete ban on entry or a need to undergo enhanced quarantine requirements depending on the person’s residency and their recent travel history, has been enacted by the Macao government for Macao residents, citizens of the People’s Republic of China, Hong Kong residents, foreigner workers residing in Macao and international travelers. On July 13, 2020, it was announced Chinese nationals with negative COVID-19 test result and green health-code, traveling between any of the nine designated cities in Guangdong province and Macao, are exempt from the 14-day mandatory quarantine effective from July 15, 2020. This was subsequently extended to all cities within the Guangdong province effective from July 29, 2020, followed by all of mainland China effective from August 12, 2020. The China IVS and tour group visas recommenced for certain regions beginning on August 12, 2020 and were extended to all of mainland China effective September 23, 2020. Hong Kong and Taiwanese residents who have not visited a foreign country in the prior 14 days and tested negative for COVID-19 1. GENERAL INFORMATION (CONTINUED) Recent developments (continued) COVID-19 Pandemic (continued) are allowed to enter Macao subject to a mandatory 14 days of centralized isolation. All other foreign nationals, including those holding a temporary work permit, currently are not permitted to enter Macao. The Macao government suspended all gaming operations beginning on February 5, 2020. The Group’s casino operations resumed on February 20, 2020, except for casino operations at Sands Cotai Central, which resumed on February 27, 2020. Certain health safeguards, however, such as limiting the number of seats per table game, slot machine spacing, temperature checks, mask protection, health declarations, showing green health-codes, and negative COVID-19 test results remain in effect at the present time. The Group is currently unable to determine when these measures will be modified or cease to be necessary. Some of the Group’s hotel facilities were also closed during the casino suspension in response to the drop in visitation and, with the exception of the Conrad Macao, Cotai Strip at Sands Cotai Central (the "Conrad hotel"), these hotels were gradually reopened from February 20, 2020, in line with operational needs and demand. The Conrad hotel reopened on June 13, 2020. Additionally, in support of the Macao government’s initiatives to fight the COVID-19 Pandemic, the Group provided one tower (approximately 2,000 hotel rooms) at the Sheraton Grand Macao Hotel, Cotai Strip at Sands Cotai Central to the Macao government to house individuals who return to Macao for quarantine purposes during two different periods in 2020. A limited number of restaurants across the Group’s properties have reopened. The majority of retail outlets in the Group's various shopping malls are open with reduced operating hours. The timing and manner in which these areas will return to full operation are currently unknown. The Hong Kong government temporarily closed the Hong Kong China Ferry Terminal in Kowloon on January 30, 2020 and the Hong Kong Macau Ferry Terminal in Hong Kong on February 4, 2020. In response, the Group suspended its Macao ferry operations between Macao and Hong Kong. The timing and manner in which the Group’s normal ferry operations will be able to resume are currently unknown. The Macao government announced total visitation from mainland China to Macao on a monthly basis decreased by 14.9% (with an 83.3% decrease in visitation over the first seven days of Chinese New Year Holiday) in January 2020 and decreased in a range of 96.3% to 99.6% in February to June 2020, as compared to the same periods in 2019. It also announced monthly gross gaming revenue decreased by 11.3% in January 2020 and decreased in a range of 79.7% to 97.0% in February to June 2020 as compared to the same periods in 2019. Current impact of the COVID-19 Pandemic on the Group's Liquidity and Financial Results The disruptions arising from the COVID-19 Pandemic had a significant adverse impact on the Group’s operations during the six months ended June 30, 2020. Net revenues for the six months ended June 30, 2020, totaled US$848 million compared to US$4.47 billion for the six months ended June 30, 2019, representing a decrease of 81.0%. We recorded an operating loss of US$609 million and a net loss of US$716 million in the first half of 2020, as compared to an operating income of US$1.19 billion and a net income of US$1.07 billion in the same period in the prior year. Adjusted property EBITDA loss totaled US$243 million in the half year ended June 30, 2020, as compared to adjusted property EBITDA of US$1.63 billion in the same period in the prior year. As of June 30, 2020, the Group had total liquidity of US$3.63 billion, consisting of US$1.61 billion of total cash and cash equivalents and US$2.02 billion of available borrowing capacity under the 2018 SCL Revolving Facility. The Group believes it will be able to support its continuing operations, complete the major construction projects that are underway, and respond to the current COVID-19 Pandemic challenges. The Group has taken various mitigating measures to manage through the current environment, including a cost and capital expenditure reduction program to minimize cash outflow of non-essential items. On April 17, 2020, the Company announced that the Board resolved not to recommend the payment of a final dividend in respect of the year ended December 31, 2019. 1. GENERAL INFORMATION (CONTINUED) Recent developments (continued) Current impact of the COVID-19 Pandemic on the Group's Liquidity and Financial Results (continued) If the Group's integrated resorts are not permitted to resume normal operations, travel restrictions such as those related to the China IVS and other global restrictions on inbound travel from other countries are not modified or eliminated or the global response to contain the COVID-19 Pandemic escalates or is unsuccessful, the Group's operations, cash flows and financial condition will be further materially impacted. The duration and intensity of this global health emergency and related disruptions are uncertain. Given the dynamic nature of these circumstances, the impact on the Company’s consolidated results of operations, cash flows and financial condition in 2020 will be material. The Group cannot reasonably estimate the impact at this time. It is unknown when the COVID-19 Pandemic will end, when or how quickly the current travel restrictions will be modified or cease to be necessary and the resulting impact on the Group's business and the willingness of the Group’s customers to spend on travel, entertainment and MICE.	GENERAL INFORMATION Principal activities The Group is principally engaged in the operation of casino games of chance or games of other forms and the development and operation of destination properties and other ancillary services in Macao. The Group’s immediate holding company is Venetian Venture Development Intermediate II. Las Vegas Sands Corp., a company incorporated in Nevada, U.S.A., indirectly holds 69.95% ownership interest in the Group as at December 31, 2019, and is the Group’s ultimate holding company. The Company was incorporated in the Cayman Islands on July 15, 2009 as an exempted company with limited liability under the Companies Law, Cap 22 (Law 3 of 1961, as consolidated and revised) of the Cayman Islands. The address of the Company’s registered office is Intertrust Corporate Services (Cayman) Limited, 190 Elgin Avenue, George Town, Grand Cayman KY1-9005, Cayman Islands. The Company’s principal place of business is Level 54, Hopewell Centre, 183 Queen’s Road East, Hong Kong. The Group owns and operates The Venetian Macao-Resort-Hotel (“The Venetian Macao”), which anchors the Cotai Strip, the Group’s master-planned development of integrated resort properties in Macao. Sands Cotai Central opened in phases, beginning in April 2012. The property currently features four hotel towers, consisting of hotel rooms and suites under the Conrad, Sheraton and St. Regis brands. The Company previously announced the renovation, expansion and rebranding of Sands Cotai Central into a new destination integrated resort, The Londoner Macao, by adding extensive thematic elements both externally and internally. The Londoner Macao will feature new attractions and features from London, including some of London’s most recognizable landmarks, such as the Houses of Parliament and Big Ben. Our retail offerings will be expanded and rebranded as the Shoppes at Londoner and the Group will add a number of new restaurants and bars. The Group will add approximately 370 luxury suites in The Londoner Court and the prior Holiday Inn-branded rooms and suites are being converted to approximately 600 London-themed suites, referred to as The Londoner Macao Hotel. The Group is utilizing suites as they are completed on a simulation basis for trial and feedback purposes. Construction has commenced and is being phased to minimize disruption during the property’s peak periods. The Group expects the Londoner Court to be completed in late 2020 and The Londoner Macao project to be completed in phases throughout 2020 and 2021. In September 2016, the Group opened The Parisian Macao, an integrated resort connected to The Venetian Macao and The Plaza Macao. The Group owns The Plaza Macao, which is located adjacent and connected to The Venetian Macao. The Plaza Macao is an integrated resort that includes the Four Seasons Hotel Macao, the Plaza Casino, Shoppes at Four Seasons and Paiza Mansions. The Group also previously announced The Grand Suites at Four Seasons, which will feature approximately 290 additional premium quality suites. The Group has initiated approved gaming operations in this space and are utilizing suites as they are completed on a simulation basis for trial and feedback purposes. The Group expects the project to be completed in the first half of 2020. The Group also owns and operates the Sands Macao, the first Las Vegas-style casino in Macao. The Group’s other ancillary services include ferry operations and other related operations. The Company’s shares were listed on the Main Board of the Stock Exchange of Hong Kong Limited on November 30, 2009. The consolidated financial statements are presented in millions of units of United States dollars (“US$ in millions”), unless otherwise stated. 1. GENERAL INFORMATION (CONTINUED) Subsequent events COVID-19 Pandemic In early January 2020, an outbreak of a respiratory illness caused by a novel coronavirus was identified and the disease has since spread rapidly across the world causing the World Health Organization to declare the outbreak of a pandemic on March 12, 2020. As a result, people across the globe have been advised to avoid non-essential travel. Steps have also been taken by various countries to restrict inbound international travel and implement closures of non-essential operations to contain the spread of the virus. Visitation to Macao has decreased substantially, driven by various government policies limiting travel. The China IVS and tour group visas were suspended, and a complete ban on entry or a need to undergo enhanced quarantine requirements depending on the person’s residency and their recent travel history, has been enacted by the Macao government for Macao residents, citizens of the People’s Republic of China, Hong Kong residents, foreigner workers residing in Macao and international travelers. On July 13, 2020, it was announced Chinese nationals with negative COVID-19 test result and green health-code, traveling between any of the nine designated cities in Guangdong province and Macao, are exempt from the 14-day mandatory quarantine effective from July 15, 2020. This was subsequently extended to all cities within the Guangdong province effective from July 29, 2020, followed by all of mainland China effective from August 12, 2020. The China IVS and tour group visas recommenced for certain regions beginning on August 12, 2020 and were extended to all of mainland China effective September 23, 2020. Hong Kong and Taiwanese residents who have not visited a foreign country in the prior 14 days and tested negative for COVID-19 are allowed to enter Macao subject to a mandatory 14 days of centralized isolation. All other foreign nationals, including those holding a temporary work permit, currently are not permitted to enter Macao. The Macao government suspended all gaming operations beginning on February 5, 2020. The Group’s casino operations resumed on February 20, 2020, except for casino operations at Sands Cotai Central, which resumed on February 27, 2020. Certain health safeguards, however, such as limiting the number of seats per table game, slot machine spacing, temperature checks, mask protection, health declarations, showing green health-codes, and negative COVID-19 test results remain in effect at the present time. The Group is currently unable to determine when these measures will be modified or cease to be necessary. Some of the Group’s hotel facilities were also closed during the casino suspension in response to the drop in visitation and, with the exception of the Conrad Macao, Cotai Strip at Sands Cotai Central (the "Conrad hotel"), these hotels were gradually reopened from February 20, 2020, in line with operational needs and demand. The Conrad hotel reopened on June 13, 2020. Additionally, in support of the Macao government’s initiatives to fight the COVID-19 Pandemic, the Group provided one tower (approximately 2,000 hotel rooms) at the Sheraton Grand Macao Hotel, Cotai Strip at Sands Cotai Central to the Macao government to house individuals who return to Macao for quarantine purposes during two different periods in 2020. A limited number of restaurants across the Group’s properties have reopened. The majority of retail outlets in the Group's various shopping malls are open with reduced operating hours. The timing and manner in which these areas will return to full operation are currently unknown. The Hong Kong government temporarily closed the Hong Kong China Ferry Terminal in Kowloon on January 30, 2020 and the Hong Kong Macau Ferry Terminal in Hong Kong on February 4, 2020. In response, the Group suspended its Macao ferry operations between Macao and Hong Kong. The timing and manner in which the Group’s normal ferry operations will be able to resume are currently unknown. 1. GENERAL INFORMATION (CONTINUED) Subsequent events (continued) COVID-19 Pandemic (continued) The Macao government announced total visitation from mainland China to Macao on a monthly basis decreased by 14.9% (with an 83.3% decrease in visitation over the first seven days of Chinese New Year Holiday) in January 2020 and decreased in a range of 96.3% to 99.6% in February to June 2020, as compared to the same periods in 2019. It also announced monthly gross gaming revenue decreased by 11.3% in January 2020 and decreased in a range of 79.7% to 97.0% in February to June 2020 as compared to the same periods in 2019. Current impact of the COVID-19 Pandemic on the Group's Liquidity and Financial Results The disruptions arising from the COVID-19 Pandemic had a significant adverse impact on the Group’s operations during the six months ended June 30, 2020. Net revenues for the six months ended June 30, 2020, totaled US$848 million compared to US$4.47 billion for the six months ended June 30, 2019, representing a decrease of 81.0%. We recorded an operating loss of US$609 million and a net loss of US$716 million in the first half of 2020, as compared to an operating income of US$1.19 billion and a net income of US$1.07 billion in the same period in the prior year. Adjusted property EBITDA loss totaled US$243 million in the half year ended June 30, 2020, as compared to adjusted property EBITDA of US$1.63 billion in the same period in the prior year. As of June 30, 2020, the Group had total liquidity of US$3.63 billion, consisting of US$1.61 billion of total cash and cash equivalents and US$2.02 billion of available borrowing capacity under the 2018 SCL Revolving Facility. The Group believes it will be able to support its continuing operations, complete the major construction projects that are underway, and respond to the current COVID-19 Pandemic challenges. The Group has taken various mitigating measures to manage through the current environment, including a cost and capital expenditure reduction program to minimize cash outflow of non-essential items. On April 17, 2020, the Company announced that the Board resolved not to recommend the payment of a final dividend in respect of the year ended December 31, 2019. If the Group's integrated resorts are not permitted to resume normal operations, travel restrictions such as those related to the China IVS and other global restrictions on inbound travel from other countries are not modified or eliminated or the global response to contain the COVID-19 Pandemic escalates or is unsuccessful, the Group's operations, cash flows and financial condition will be further materially impacted. The duration and intensity of this global health emergency and related disruptions are uncertain. Given the dynamic nature of these circumstances, the impact on the Company’s consolidated results of operations, cash flows and financial condition in 2020 will be material. The Group cannot reasonably estimate the impact at this time. It is unknown when the COVID-19 Pandemic will end, when or how quickly the current travel restrictions will be modified or cease to be necessary and the resulting impact on the Group's business and the willingness of the Group’s customers to spend on travel, entertainment and MICE.

Basis of Preparation

Basis of Preparation	6 Months Ended
Basis of Preparation	Jun. 30, 2020
Basis of Preparation [Abstract]
Disclosure of basis of consolidation [text block]	BASIS OF PREPARATION The condensed consolidated financial statements for the six months ended June 30, 2020 have been prepared in accordance with International Accounting Standard (“IAS”) 34 Interim Financial Reporting issued by the International Accounting Standards Board (“IASB”) and the applicable disclosure requirements of Appendix 16 to the Listing Rules. They should be read in conjunction with the Group’s annual financial statements for the year ended December 31, 2019, which were prepared in accordance with International Financial Reporting Standards (“IFRS”). Audited figures as indicated in this condensed consolidated financial statements for the six months ended June 30, 2020 are derived from the audited consolidated financial statement of the Group as at and for the year ended December 31, 2019 on which an auditor's report was issued on October 16, 2020. The condensed consolidated financial statements have been prepared on the historical cost basis, except for financial liabilities for cash-settled share-based payment transactions and derivative financial instruments that are measured at fair value.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended	12 Months Ended
Summary of Significant Accounting Policies	Jun. 30, 2020	Dec. 31, 2019
Disclosure of significant accounting policies [Abstract]
Disclosure of significant accounting policies [text block]	SIGNIFICANT ACCOUNTING POLICIES The accounting policies adopted and methods of computation used in the preparation of the condensed consolidated financial statements for the six months ended June 30, 2020 are consistent with those adopted and as described in the Group’s annual financial statements for the year ended December 31, 2019. For the amendments to standards in IFRSs that are effective for the period, the Group has adopted at their respective effective dates and the adoption had no material impact on the results of operations and financial position of the Group. The preparation of condensed consolidated financial statements requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets, liabilities, income and expenses. Actual results may differ from these estimates. In preparing these condensed consolidated financial statements, the significant judgments made by management in the process of applying the Group’s accounting policies and the key sources of estimation uncertainty were the same as those applied to the consolidated financial statements for the year ended December 31, 2019. The Group’s activities expose it to a variety of financial risks: market risk, credit risk and liquidity risk. The condensed consolidated financial statements do not include all financial risk management information and disclosures required in the annual financial statements and should be read in conjunction with the Group’s annual financial statements for the year ended December 31, 2019. There have been no significant changes in any risk management policies since the year ended December 31, 2019.	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The principal accounting policies applied in the preparation of the consolidated financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated. (a) Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with the following accounting policies which conform with International Financial Reporting Standards (“IFRS”). The preparation of the consolidated financial statements in accordance with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 3. The consolidated financial statements have been prepared on the historical cost basis except for financial liabilities for cash-settled share-based payment transactions and derivative financial instruments that are measured at fair value. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (a) Basis of preparation (continued) The consolidated financial statements are prepared solely for inclusion in the offering memorandum of the Company in connection with the proposed offering of the senior notes. As a result, the consolidated financial statements may not be suitable for another purpose. Accordingly, the consolidated balance sheet as at December 31, 2017 and the consolidated income statement, the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year ended December 31, 2016 have not been presented. (b) Changes in accounting policies and disclosures During the year ended December 31, 2017, 2018 and 2019, there have been a number of new standards and new amendments to standards that have come into effect, which the Group has adopted at their respective dates. Details of the adoption of material new standards are set out below. IFRS 15 Revenue from Contracts with Customers (“IFRS 15”) The accounting standard establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The core principle of IFRS 15 is an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. It also requires more detailed disclosures to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. See Note 4 for these disclosures. The Group adopted the new standard on January 1, 2018, on a full retrospective basis. The standard changes the accounting for complimentary services (including rooms, food and beverage, and other services) provided to casino guests as incentives related to gaming play. Complimentary revenues were previously excluded from revenues in the accompanying consolidated income statement prepared in accordance with IFRS. The adoption of the new standard resulted in a decrease in casino revenue due to complimentary services provided and recognition of revenue in the resulting business category of the goods or services provided when the services are rendered. The cost of providing such complimentary services were regrouped in the respective business categories. Certain commission arrangements with third parties were reclassified out of operating expenses and netted with revenue. The effect of adoption of this standard is set out below. Effect on the consolidated income statement for the year ended December 31, 2017: For the year ended December 31, 2017 as previously stated Effects of IFRS 15 Reclassification (Note) For the year ended December 31, 2017 as restated (US$ in millions) Net revenues $ 7,715 $ (129) $ — $ 7,586 Gaming promoter/agency commissions (135) 127 8 — Other expenses, gains and losses (915) 2 (8) (921) Note: Amount represented agency commissions. As the amount was immaterial, it was reclassified to “Other expenses, gains and losses” for the purpose of presenting the consolidated income statement. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (b) Changes in accounting policies and disclosures (continued) IFRS 9 Financial Instruments (“IFRS 9”) The accounting standard replaces the provisions of International Accounting Standards (“IAS”) 39 Financial Instruments: Recognition and Measurement (“IAS 39”) that relates to the recognition, classification and measurement of financial assets and financial liabilities, derecognition of financial instruments, impairment of financial assets and hedge accounting. The adoption of IFRS 9 from January 1, 2018 resulted in changes in accounting policies and adjustments to the amounts recognized in the financial statements. In accordance with the transition provisions in IFRS 9 (7.2.15), the financial information for the year ended December 31, 2017 have not been restated. Effect on the consolidated retained earnings as of January 1, 2018 is as follows: Note (US$ in millions) Closing retained earnings as of December 31, 2017 - IAS 39 $ 2,864 Decrease in carrying amount of bank loan measured at amortized cost (i) 24 Opening retained earnings as of January 1, 2018 - IFRS 9 $ 2,888 (i) Classification and measurement — borrowings Following the adoption of IFRS 9, the Group is no longer able to defer the recognition of gain from the modification of debt, which did not result in a derecognition of the financial liability. Under the Group’s previous accounting policies, this gain would have been recognized over the remaining life of the borrowing by adjusting the effective interest rate, on the basis the terms and conditions of the credit facility remained largely unchanged. As a result, the carrying amount of the bank loan which was still recognized on the date of the adoption of IFRS 9 decreased by US$24 million and the opening retained earnings as of January 1, 2018 increased accordingly. (ii) Impairment of financial asset The Group’s financial assets consist of cash and cash equivalents, restricted cash and cash equivalents and trade and other receivables that are subsequently recognized at amortized cost. The Group applies the IFRS 9 simplified approach to measure expected credit losses (“ECL”), using a lifetime expected loss allowance for all trade and other receivables. Cash and cash equivalents and restricted cash and cash equivalents are also subject to the impairment requirements of IFRS 9 and, due to their nature, the expected loss allowance is immaterial. To measure the expected credit losses, except for credit impaired balances and outstanding significant balances that have been assessed individually, the remaining trade receivables have been grouped based on shared credit risk characteristics and days past due. The loss allowance for trade receivables applying lifetime expected credit loss as compared to the incurred loss model of IAS 39 did not result in a material difference and hence did not result in an adjustment of opening retained earnings as of January 1, 2018. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (b) Changes in accounting policies and disclosures (continued) IFRS 16 Leases (“IFRS 16”) The accounting standard superseded the requirements in IAS 17 Leases (“IAS 17”) and the related interpretations to introduce a comprehensive model for the identification of lease arrangements and accounting treatments for both lessors and lessees. The Group adopted the new standard on January 1, 2019. IFRS 16 distinguishes lease and service contracts on the basis of whether an identified asset is controlled by a customer. Distinctions of operating leases and finance leases are removed for lessee accounting, and is replaced by a model where a right-of-use asset and a corresponding liability have to be recognized for all leases by lessees, except for short-term leases and leases of low-value assets. Lessor accounting remains largely unchanged under the new standard. On transition to IFRS 16, the Group elected to apply the practical expedient for lease definition. The Group applied IFRS 16 only to contracts previously identified as leases applying IAS 17 and IFRIC-Int 4 Determining whether an Arrangement Contains a Lease (“IFRIC-Int 4”). Contracts that were not identified as leases under IAS 17 and IFRIC-Int 4 were not reassessed. Therefore, the definition of a lease under IFRS 16 was applied only to contracts entered into or modified on or after January 1, 2019. Further, the Group elected the modified retrospective approach for the application of IFRS 16, under which the effect of initial application was recognized at January 1, 2019. Accordingly, the financial information presented as at December 31, 2018 and for the years ended December 31, 2017, and 2018 were not restated. The lease liability was measured at the present value of the remaining lease payments at the date of initial application and the right-of-use asset was measured at an amount equal to the lease liability immediately before the date of initial application. The adoption of this standard did not have an impact on net income. The impact on transition is summarized below: December 31, Impact on transition January 1, 2019 (US$ in millions) Right-of-use assets comprise of: Investment properties - Leasehold interests in land $ 44 $ — $ 44 Property and equipment, net - Leasehold interests in land 552 — 552 Property and equipment, net - Other 4 6 10 Lease liabilities comprise of: Current liabilities - Borrowings $ 10 $ 4 $ 14 Non-current liabilities - Borrowings 125 2 127 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (b) Changes in accounting policies and disclosures (continued) IFRS 16 Leases (continued) The Group has already recognized an asset and a related finance lease liability for finance lease arrangements and prepaid lease payments for leasehold interests in land where the Group was a lessee under IAS 17, therefore the additional right-of-use assets and lease liabilities recognized upon adoption for leases previously classified as operating leases were US$6 million. The weighted average incremental borrowing rate applied to lease liabilities recognized in the consolidated balance sheet at January 1, 2019 was 3.9%. (US$ in millions) Operating lease commitments disclosed as at December 31, 2018 $ 7 Discounted using the incremental borrowing rate as at January 1, 2019 7 Add: Finance lease liabilities recognized as at December 31, 2018 135 Recognition exemption for: Short-term leases and leases of low-value assets (1) Lease liabilities recognized as at January 1, 2019 $ 141 In the consolidated balance sheet, the Group presents right-of-use assets that do not meet the definition of “investment property” in “property and equipment.” Right-of-use assets that meet the definition of “investment property” are presented within “investment properties” and lease liabilities are presented within “borrowings.” Right-of-use assets are included within the same category under “property and equipment,” which the corresponding underlying assets would be presented if they were owned. In the consolidated statement of cash flows, the Group has previously presented operating lease payments under cash flows from operating activities. Upon the adoption of IFRS 16, lease payments and any associated interest paid are presented under cash flows from financing activities except for leases with an expected term of 12 months or less and leases of low-value assets which are presented under cash flows from operating activities. New standards and amendments to IFRS issued but not yet effective The Group has not early adopted the new or revised standards, amendments and interpretations that have been issued, but are not effective for the year ended December 31, 2019. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (c) Subsidiaries Consolidation The consolidated financial statements incorporate the financial statements of the Company and entities controlled by the Company and its subsidiaries. Control is achieved when the Company: • has power over the investee; • is exposed, or has rights, to variable returns from its involvement with the investee; and • has the ability to use its power to affect its returns. The Group reassesses whether or not it controls an investee if facts and circumstances indicate there are changes to one or more of the three elements of control listed above. Subsidiaries are fully consolidated from the date on which control is transferred to the Group and are deconsolidated from the date that control ceases. Intra-group transactions, balances and unrealized gains and losses on transactions between group companies are eliminated. Profit and losses resulting from inter-company transactions are also eliminated. The particulars of the Group’s principal subsidiaries as at December 31, 2019 are set out in Note 31. (d) Segment reporting Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. The chief operating decision maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as a group of senior management that makes strategic decisions. (e) Foreign currency translation (i) Functional and presentation currency Items included in the financial statements of each of the Group’s companies are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The Company’s functional currency is Macao patacas (“MOP”). The consolidated financial statements are presented in US$, which is the presentation currency of LVS. (ii) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are remeasured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the consolidated income statement. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (e) Foreign currency translation (continued) (iii) Group companies The results of operations and financial position of all the group companies (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: • Assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet; • Income and expenses for each income statement are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rates on the dates of the transactions); and • All resulting exchange differences are recognized in other comprehensive income (expense) (currency translation differences) and will not be reclassified subsequently to profit or loss. On consolidation, exchange differences arising from the translation of the net investment in foreign entities, and of borrowings, are recognized in other comprehensive income (expense). When a foreign operation is sold, such exchange differences are recognized in the consolidated income statement as part of the gain or loss on sale. On the disposal of a foreign operation (that is, a disposal of the Group’s entire interest in a foreign operation, or a disposal involving loss of control over a subsidiary that includes a foreign operation), all of the exchange differences accumulated in equity in respect of that operation attributable to the equity holders of the Company are reclassified to profit or loss. In the case of a partial disposal that does not result in the Group losing control over a subsidiary that includes a foreign operation, the proportionate share of accumulated exchange differences are reattributed to non-controlling interests and are not recognized in profit or loss. (f) Investment properties Investment properties, principally comprising buildings and building improvements, are held for long-term rental yields or capital appreciation or both, and are not occupied by the Group. Investment properties currently being constructed or developed are classified as investment properties and stated at cost, less accumulated impairment losses, if any. Investment properties are initially measured at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses, if any. Investment properties are depreciated on a straight-line basis, at rates sufficient to write off their costs over their estimated useful lives of 3 to 50 years. The residual values and useful lives of investment properties are reviewed, and adjusted as appropriate at each balance sheet date. The effects of any revision are included in the consolidated income statement when the changes arise. During the year ended December 31, 2017, the Group revised the estimated useful lives of certain investment properties. See Note 3(a) for details. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (g) Property and equipment Leasehold interests in land classified as leases and all other property and equipment, except construction-in- progress, are stated at historical cost less accumulated depreciation and accumulated impairment losses. The cost of an asset comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Leasehold interests in land classified as leases commence amortization from the time when the land interest becomes available for its intended use. Leasehold interests in land classified as leases are amortized and other property and equipment are depreciated on a straight-line basis, at rates sufficient to write off their costs over their estimated useful lives. Property and equipment are depreciated as follows: Leasehold interests in land classified as leases 50 years Leasehold improvements Shorter of lease term or 3 years Land improvements, buildings and building improvements 10–50 years Leased buildings and equipment Lease term Ferries 20 years Furniture, fittings and equipment 3–20 years Vehicles 5–6 years During the year ended December 31, 2017, the Group revised the estimated useful lives of certain property and equipment. See Note 3(a) for details. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognized. All other repairs and maintenance are charged to the consolidated income statement during the financial period in which they are incurred. Construction-in-progress represents property and equipment under construction and is stated at cost, less accumulated impairment losses, if any. This includes the direct costs of purchase, construction and capitalized borrowing costs. Construction-in-progress is not depreciated until such time as the relevant assets are completed and ready for their intended use, at which time they are transferred to the relevant asset category. The assets’ residual values and useful lives are reviewed, and adjusted if applicable, at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized within “Other expenses, gains and losses” in the consolidated income statement. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (h) Intangible assets Computer software Acquired computer software licenses are capitalized on the basis of the costs incurred to acquire and bring to use the specific software. These costs are amortized over their estimated useful lives of 4 years. (i) Impairment of non-financial assets Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows (i.e. cash generating units or “CGU”). Non-financial assets that suffered impairment are reviewed for possible reversal of the impairment at each reporting date. (j) Financial assets Classification and subsequent measurement of financial assets (before application of IFRS 9 on January 1, 2018) The Group’s financial assets consist of receivables, which are classified as loans and receivables under IAS 39 and are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and for which management has no intention of trading. They are included in current assets, except for the amounts settled or expected to be settled more than twelve months after the end of the reporting period, which are classified as non-current. Receivables are subsequently carried at amortized cost. Financial assets and liabilities are offset and the net amount is reported in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. Impairment of financial assets (before application of IFRS 9 on January 1, 2018) The Group assesses at the end of each reporting period whether there is objective evidence a financial asset or group of financial assets is impaired. A financial asset or a group of financial assets is impaired and impairment losses are incurred only if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a “loss event”) and that loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (j) Financial assets (continued) Impairment of financial assets (before application of IFRS 9 on January 1, 2018) (continued) The criteria the Group uses to determine there is objective evidence of an impairment loss include: i. Significant financial difficulty of the issuer or obligor; ii. A breach of contract, such as a default or delinquency in interest or principal payments; iii. The Group, for economic or legal reasons relating to the borrower’s financial difficulty, granting to the borrower a concession the lender would not otherwise consider; iv. It becomes probable the borrower will enter bankruptcy or other financial reorganization; v. Observable data indicating there is a measurable decrease in the estimated future cash flows from a portfolio of financial assets since the initial recognition of those assets, although the decrease cannot yet be identified with the individual financial assets in the portfolio, including: (i) adverse changes in the payment status of borrowers in the portfolio; or (ii) national or local economic conditions that correlate with defaults on the assets in the portfolio. The Group first assesses whether objective evidence of an impairment exists. For the receivables, the amount of the loss is measured as the difference between the asset’s carrying amount and the estimated future cash flows (excluding future credit losses that have not been incurred). The carrying amount of the asset is reduced and the amount of the loss is recognized in the consolidated income statement. If, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized (such as an improvement in the debtor’s credit rating), the reversal of the previously recognized impairment loss is recognized in the consolidated income statement. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (j) Financial assets (continued) Classification and subsequent measurement of financial assets (upon application of IFRS 9 on January 1, 2018) Financial assets that meet the following conditions are subsequently measured at amortized cost: • the financial asset is held within a business model whose objective is to collect contractual cash flows; and • the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets that meet the following conditions are subsequently measured at fair value through other comprehensive income (“FVTOCI”): • the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling; and • the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. All other financial assets are subsequently measured at fair value through profit or loss (“FVTPL”). The Group’s financial assets consist of cash and cash equivalents, restricted cash and cash equivalents and trade and other receivables. Financial assets and liabilities are offset and the net amount is reported in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. Interest income is recognized by applying the effective interest rate, except for short-term receivables where the recognition of interest would be immaterial. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (j) Financial assets (continued) Impairment of financial assets (upon application of IFRS 9 on January 1, 2018) The Group recognizes a loss allowance for ECL on trade and other receivables which are subject to impairment under IFRS 9. The amount of ECL is updated at each reporting date to reflect changes in credit risk since initial recognition. Lifetime ECL represents the ECL that will result from all possible default events over the expected life of the relevant instrument. Assessments are done based on the Group’s historical credit loss experience, adjusted for factors specific to the debtors, general economic conditions and an assessment of both the current conditions at the reporting date as well as the forecast of future conditions. a. Definition of default For internal credit risk management, the Group considers an event of default occurs when information developed internally or obtained from external sources indicates the debtor is unlikely to pay its creditors, including the Group, in full (without taking into account any collateral held by the Group). b. Credit-impaired financial assets A financial asset is credit-impaired when one or more events of default that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. Evidence of a financial asset that is credit-impaired includes observable data about the following events: i. Significant financial difficulty of the issuer or the borrower; ii. A breach of contract, such as a default or past due event; iii. The Group, for economic or legal reasons relating to the borrower’s financial difficulty, grants to the borrower a concession the lender would not otherwise consider; iv. It becomes probable the borrower will enter bankruptcy or other financial reorganization; v. The disappearance of an active market for that financial asset because of financial reorganization; or vi. Observable data indicating there is a measurable decrease in the estimated future cash flows from a portfolio of financial assets since the initial recognition of those assets, although the decrease cannot yet be identified with the individual financial assets in the portfolio, including: (i) adverse changes in the payment status of borrowers in the portfolio; or (ii) national or local economic conditions that correlate with defaults on the assets in the portfolio. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (j) Financial assets (continued) Impairment of financial assets (upon application of IFRS 9 on January 1, 2018) (continued) c. Write-off policy The Group writes off a financial asset when there is information indicating the counterparty is in severe financial difficulty and there is no realistic prospect of recovery, for example, when the counterparty has been placed under liquidation or has entered into bankruptcy proceedings. Financial assets written off may still be subject to enforcement activities under the Group’s recovery procedures, taking into account legal advice where appropriate. A write-off constitutes a derecognition event. Any subsequent recoveries are recognized in profit or loss. d. Measurement and recognition of ECL The measurement of ECL is a function of the probability of default, loss given default (i.e. the magnitude of the loss if there is a default) and the exposure at default. The assessment of the probability of default and loss given default is based on historical data adjusted by forward-looking information. Generally, the ECL is the difference between all contractual cash flows due to the Group in accordance with the contract and the cash flows the Group expects to receive. Where ECL is measured on a collective basis or cater for cases where evidence at the individual instrument level may not yet be available, the financial instruments are grouped based on shared credit risk characteristics and days past due. The grouping is regularly reviewed by management to ensure the constituents of each group continue to share similar credit risk characteristics. The Group recognizes an impairment gain or loss in profit or loss for trade and other receivables by adjusting their carrying amount through a loss allowance account. Derecognition of financial assets (before and after application of IFRS 9 on January 1, 2018) The Group derecognizes a financial asset when the consideration was received. On derecognition of a financial asset measured at amortized cost, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss. (k) Cash and cash equivalents Cash and cash equivalents include cash and short-term deposits with original maturities of three months or less. Restricted cash and cash equivalents are excluded from cash and cash equivalents in the consolidated statement of cash flows. Restricted cash and cash equivalents represent sinking funds set aside to cover the cost of capital expenses, including repairs, renovations, replacements and maintenance of a substantial but infrequent or irregular nature of the Group’s shopping malls. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (l) Inventories Inventories consist primarily of food, beverage, retail products, ferry parts and general operating supplies, and are stated at the lower of cost and net realizable value. Cost is determined using the weighted average method. Net realizable value is the estimated selling price in the ordinary course of business, less applicable selling expenses. (m) Share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issuance of equity instruments are shown in equity as a deduction, net of tax, from the proceeds. (n) Financial liabilities The Group’s financial liabilities, including borrowings and trade and other payables, are initially measured at fair value and subsequently measured at amortized cost, using the effective interest method. Derecognition/substantial modification of financial liabilities The Group derecognizes financial liabilities when, and only when, the Group’s obligations are discharged,

Critical Accounting Estimates a

Critical Accounting Estimates and Judgments	12 Months Ended
Critical Accounting Estimates and Judgments	Dec. 31, 2019
Disclosure of critical accounting estimates and judgments [Abstract]
Critical Accounting Estimates and Judgments	CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS Estimates and judgments are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. The Group makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of potentially causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are addressed below. (a) Useful lives of investment properties and property and equipment The Group depreciates investment properties and property and equipment on a straight-line basis over their estimated useful lives with no residual value assumed. The estimated useful lives are based on the nature of the assets, as well as current operating strategy and legal considerations, such as contractual life. Future events, such as property expansions, property developments, new competition or new regulations, could result in a change in the manner in which the Group uses certain assets and could have an impact on the estimated useful lives of such assets. During the year ended December 31, 2017, the Group changed the estimated useful lives of certain of its property and equipment and investment properties based on a combination of factors accumulating over time that provided the Group with updated information to make a better estimate on the economic lives of these assets. These factors included (1) the accumulation of historical asset replacement data at the Group’s operating properties, which reflects the actual length of time the Group uses certain assets, (2) the stabilization of the operating, regulatory and competitive environment in Macao, which includes meeting the final land concession government-imposed deadlines for the Group’s properties on Cotai, (3) transitioning to more predictable renovation cycles at the Group’s operating properties and (4) consideration of the estimated useful lives assigned to buildings of the Group’s peers in the gaming and hospitality industry. Based on these factors, as well as the anticipated use and condition of the assets evaluated, the Group determined changes to the useful lives of certain property and equipment and investment properties were appropriate. As a result, the Group revised the estimated useful lives of its leasehold interests in land, land improvements, buildings and building improvements from a range of 15 to 40 years to 10 to 50 years and certain other furniture, fittings and equipment from 3 to 6 years to 5 to 10 years to better reflect the estimated periods during which these assets are expected to remain in service. These changes in estimated useful lives of the assets were accounted for as changes in accounting estimates effective July 1, 2017. The impact of these changes for the year ended December 31, 2017, was a decrease in depreciation expense and an increase in operating profit of US$89 million, and an increase in net profit attributable to equity holders of the Company of US$88 million, or earnings per share of US1.10 cents on a basic and diluted basis. 3. CRITICAL ACCOUNTING ESTIMATES AND JUDGMENTS (CONTINUED) (b) Impairment of non-financial assets The Group follows the guidance of IAS 36 Impairment of Assets to determine when assets are impaired, which requires significant judgment. In making this judgment, the Group evaluates, among other factors, the duration and extent to which the recoverable amount of assets is less than their carrying balance, including factors such as the industry performance and changes in operational and financing cash flows. When required, the recoverable amount of the CGU would be determined based on value-in-use calculations. These calculations require the use of estimates, including operating results, income and expenses of the business, long-term growth rates, future returns and discount rate. Changes in the key assumptions on which the recoverable amount of the assets is based could significantly affect the Group’s financial position and results of operations. During the year ended December 31, 2019, the Group’s ferry operations experienced a decline in passenger volume primarily due to the opening of the Hong Kong-Zhuhai-Macao Bridge, which opened in October 2018. The continuing decline in passenger volume resulted in the Group taking two ferries out of service and implementing other cost cutting measures to maintain the overall efficiency of the ferry operations. The Group determined the projected discounted cash flows were not anticipated to recover the ferry assets’ carrying value. For the year ended December 31, 2019, an impairment charge of US$65 million was recorded for the excess of the carrying value over the recoverable value of US$51 million, which was determined to be the fair value less cost of disposal of the ferries in the ferry operations. The estimated fair value of the ferries was determined using level 3 inputs based on recent offers received for the two ferries currently not in service. (c) Provision of expected credit loss for trade receivables The Group applies the IFRS 9 simplified approach to measure expected credit losses, using a lifetime expected loss allowance for all trade and other receivables. The Group determines the allowance based on specific customer information, historical write-off experience, current industry and economic data and an assessment of both the current conditions at the reporting date as well as the forecast of future conditions. A provision of expected credit loss for trade receivables is recorded when the Group believes it is probable the recoverable amount of the receivables will be less than their carrying amounts. Account balances are written off against the allowance when the Group considers the receivables to be uncollectible. Management believes there are no concentrations of credit risk for which an allowance has not been established. Although management believes the allowance is adequate, it is possible the estimated amount of cash collections with respect to trade receivables could change. (d) Litigation provisions The Group is subject to various claims and legal actions. The accruals for these claims and legal actions are estimated in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets . Based on consultations with legal counsel, management estimated no significant loss would be incurred beyond the amounts provided. Actual results could differ from these estimates.

Net Revenues

Net Revenues	12 Months Ended
Net Revenues	Dec. 31, 2019
Disclosure of revenue from contracts with customers [Abstract]
Disclosure of revenue from contracts with customers [text block]	NET REVENUES The Group generates revenues at its properties by providing the following types of products and services: casino, rooms, mall, food and beverage and convention, ferry, retail and other. Revenue disaggregated by type of revenue and property is as follows: Casino Rooms Mall (ii) Food and beverage Convention, ferry, retail and other Net revenues (US$ in millions) Year ended December 31, 2017 The Venetian Macao $ 2,362 $ 179 $ 220 $ 74 $ 89 $ 2,924 Sands Cotai Central 1,433 291 63 102 27 1,916 The Parisian Macao 1,120 128 66 61 20 1,395 The Plaza Macao 391 34 131 28 3 587 Sands Macao 574 19 — 27 6 626 Ferry and other operations — — — — 153 153 Inter-segment revenues (i) — — (1) — (14) (15) $ 5,880 $ 651 $ 479 $ 292 $ 284 $ 7,586 Year ended December 31, 2018 The Venetian Macao $ 2,829 $ 223 $ 234 $ 81 $ 107 $ 3,474 Sands Cotai Central 1,622 331 69 102 29 2,153 The Parisian Macao 1,265 124 57 65 22 1,533 The Plaza Macao 502 39 145 29 4 719 Sands Macao 598 17 3 27 5 650 Ferry and other operations — — — — 151 151 Inter-segment revenues (i) — — (1) — (14) (15) $ 6,816 $ 734 $ 507 $ 304 $ 304 $ 8,665 Year ended December 31, 2019 The Venetian Macao $ 2,875 $ 222 $ 254 $ 73 $ 86 $ 3,510 Sands Cotai Central 1,541 320 71 97 23 2,052 The Parisian Macao 1,376 130 53 70 21 1,650 The Plaza Macao 650 41 151 31 4 877 Sands Macao 576 18 3 27 4 628 Ferry and other operations — — — — 106 106 Inter-segment revenues (i) — — (1) — (14) (15) $ 7,018 $ 731 $ 531 $ 298 $ 230 $ 8,808 Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2. (i) Inter-segment revenues are charged at prevailing market rates. (ii) Of this amount, US$406 million and US$73 million for the year ended December 31, 2017, US$436 million and US$71 million for the year ended December 31, 2018, and US$456 million and US$75 million for the year ended December 31, 2019 are related to income from right-of-use and management fee and other, respectively. Income from right-of-use is recognized in accordance with IAS 17 Leases for the years ended December 31, 2017 and 2018 and IFRS 16 Leases for the year ended December 31, 2019. All other revenue are recognized in accordance with IFRS 15 Revenue from contracts with customers . 4. NET REVENUES (CONTINUED) Contract and Contract Related Liabilities The Group provides numerous products and services to its customers. There is often a timing difference between the cash payment by the customers and recognition of revenue for each of the associated performance obligations. The Group has the following main types of liabilities associated with contracts with customers: (1) outstanding chip liability, (2) loyalty program liability, and (3) customer deposits and other deferred revenue for gaming and non-gaming products and services yet to be provided. The outstanding chip liability represents the collective amounts owed to junket operators and patrons in exchange for gaming chips in their possession. Outstanding chips are expected to be recognized as revenue or redeemed for cash within one year of being purchased. The loyalty program liability represents a deferral of revenue until patron redemption of points earned. The loyalty program points are expected to be redeemed and recognized as revenue within one year of being earned. Customer deposits and other deferred revenue represent cash deposits made by customers for future services provided to be by the Group. With the exception of mall deposits, which typically extend beyond a year based on the terms of the lease, the majority of these customer deposits and other deferred revenue are expected to be recognized as revenue or refunded to the customer within one year of the date the deposit was recorded. The following table summarizes the liability activity related to contracts with customers: Outstanding Chips Liability Loyalty Program Liability Customer Deposits and Other Deferred Revenue (i) 2018 2019 2018 2019 2018 2019 (US$ in millions) Balance at January 1 $ 418 $ 514 $ 30 $ 33 $ 424 $ 497 Balance at December 31 514 485 33 31 497 395 Increase (decrease) $ 96 $ (29) $ 3 $ (2) $ 73 $ (102) (i) Of this amount, US$121 million, US$127 million and US$129 million as of January 1, 2018, December 31, 2018, and December 31, 2019, respectively, relates to mall deposits that are accounted for based on lease terms usually greater than one year.

Segment Information

Segment Information	6 Months Ended	12 Months Ended
Segment Information	Jun. 30, 2020	Dec. 31, 2019
Disclosure of entity's operating segments [Abstract]
Segment Information	SEGMENT INFORMATION Management has determined the operating segments based on the reports reviewed by a group of senior management, which is the chief operating decision-maker of the Group that makes strategic decisions. The Group considers the business from a property and service perspective. The Group’s principal operating and developmental activities occur in Macao, which is the sole geographic area in which the Group is domiciled. The Group reviews the results of operations for each of its key operating segments, which are also the reportable segments: The Venetian Macao, Sands Cotai Central, The Parisian Macao, The Plaza Macao and Sands Macao. The Group also reviews construction and development activities for each of its primary projects currently under development, in addition to its reportable segments noted above, which include the renovation, expansion and rebranding of Sands Cotai Central to The Londoner Macao, The Grand Suites at Four Seasons and the Londoner Court. The Group has included Ferry and other operations (comprised primarily of the Group’s ferry operations and various other operations that are ancillary to its properties) to reconcile to consolidated results of operations and financial condition. The Venetian Macao, Sands Cotai Central, The Parisian Macao, The Plaza Macao and Sands Macao derive their revenues primarily from casino wagers, room sales, rental income from the Group’s mall tenants, food and beverage transactions, convention sales and entertainment. Ferry and other operations mainly derive their revenues from the sale of ferry tickets for transportation between Hong Kong and Macao. 4. SEGMENT INFORMATION (CONTINUED) The Group’s segment information is as follows: Casino Rooms Mall (ii), (iii) Food and beverage Convention, ferry, retail and other Total net revenues (US$ in millions) (Unaudited) Net Revenues Six months ended June 30, 2020 The Venetian Macao $ 256 $ 22 $ 47 $ 6 $ 12 $ 343 Sands Cotai Central 124 27 16 9 4 180 The Parisian Macao 85 14 10 6 3 118 The Plaza Macao 91 5 26 4 — 126 Sands Macao 69 3 1 2 1 76 Ferry and other operations — — — — 13 13 Inter-segment revenues (i) — — (1) — (7) (8) $ 625 $ 71 $ 99 $ 27 $ 26 $ 848 Six months ended June 30, 2019 The Venetian Macao $ 1,438 $ 110 $ 118 $ 39 $ 46 $ 1,751 Sands Cotai Central 803 161 32 50 14 1,060 The Parisian Macao 730 64 27 35 12 868 The Plaza Macao 335 20 62 16 2 435 Sands Macao 280 9 2 14 2 307 Ferry and other operations — — — — 55 55 Inter-segment revenues (i) — — (1) — (7) (8) $ 3,586 $ 364 $ 240 $ 154 $ 124 $ 4,468 (i) Inter-segment revenues are charged at prevailing market rates. (ii) Of this amount, US$64 million and US$35 million (six months ended June 30, 2019: US$203 million and US$37 million) are related to income from right of use and management fee and other, respectively. Income from right of use is recognized in accordance with IFRS 16 Leases . (iii) For the six months ended June 30, 2020, rent concessions of US$135 million were provided to tenants as a result of the COVID-19 Pandemic and the impact on mall operations. 4. SEGMENT INFORMATION (CONTINUED) Six months ended June 30, 2020 2019 (US$ in millions) (Unaudited) Adjusted property EBITDA (i) The Venetian Macao $ (48) $ 697 Sands Cotai Central (79) 377 The Parisian Macao (84) 302 The Plaza Macao 10 168 Sands Macao (32) 83 Ferry and other operations (10) (2) Total adjusted property EBITDA (243) 1,625 Share-based compensation, net of amount capitalized (ii) (8) (7) Corporate expense (iii) (28) (66) Pre-opening expense (5) (10) Depreciation and amortization (338) (364) Net foreign exchange gains 20 12 Loss on disposal of property and equipment, investment properties and intangible assets (7) (3) Operating (loss) profit (609) 1,187 Interest income 9 21 Interest expense, net of amounts capitalized (116) (147) (Loss) profit before income tax (716) 1,061 Income tax benefit — 6 (Loss) profit for the period attributable to equity holders of the Company $ (716) $ 1,067 (i) Adjusted property EBITDA, which is a non-IFRS financial measure, is profit or loss attributable to equity holders of the Company before share-based compensation, corporate expense, pre-opening expense, depreciation and amortization, net foreign exchange gains or losses, impairment loss on property and equipment, gain or loss on disposal of property and equipment, investment properties and intangible assets, interest, gain or loss on modification or early retirement of debt and income tax benefit or expense. Management utilizes adjusted property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation. Integrated resort companies have historically reported adjusted property EBITDA as a supplemental performance measure to IFRS financial measures. In order to view the operations of their properties on a more stand-alone basis, integrated resort companies, including the Group, have historically excluded certain expenses that do not relate to the management of specific properties, such as pre-opening expense and corporate expense, from their adjusted property EBITDA calculations. Adjusted property EBITDA should not be interpreted as an alternative to profit or operating profit (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with IFRS. The Group has significant uses of cash flow, including capital expenditures, dividend payments, interest payments, debt principal repayments and income taxes, which are not reflected in adjusted property EBITDA. Not all companies calculate adjusted property EBITDA in the same manner. As a result, adjusted property EBITDA as presented by the Group may not be directly comparable to other similarly titled measures presented by other companies. (ii) The amount comprises of US$6 million equity-settled shared-base payment expense, net of amounts capitalized and US$2 million cash-settled share-based payment expense, net of amounts capitalized (six months ended June 30, 2019: US$7 million and nil respectively). (iii) The amount excludes share-based payment expense of US$1 million (six months ended June 30, 2019: nil). 4. SEGMENT INFORMATION (CONTINUED) Six months ended June 30, 2020 2019 (US$ in millions) (Unaudited) Depreciation and amortization The Venetian Macao $ 87 $ 79 Sands Cotai Central 118 164 The Parisian Macao 84 79 The Plaza Macao 30 19 Sands Macao 13 13 Ferry and other operations 6 10 $ 338 $ 364 Six months ended June 30, 2020 2019 (US$ in millions) (Unaudited) Capital expenditures The Venetian Macao $ 66 $ 38 Sands Cotai Central 368 107 The Parisian Macao 7 14 The Plaza Macao 127 59 Sands Macao 3 6 Ferry and other operations — 1 $ 571 $ 225 June 30, December 31, 2020 2019 (US$ in millions) (Unaudited) (Audited) Total assets The Venetian Macao $ 3,052 $ 3,236 Sands Cotai Central 4,046 4,531 The Parisian Macao 2,253 2,372 The Plaza Macao 1,257 1,255 Sands Macao 268 323 Ferry and other operations 459 383 $ 11,335 $ 12,100 Almost all of the non-current assets of the Group are located in Macao.	SEGMENT INFORMATION Management has determined the operating segments based on the reports reviewed by a group of senior management which is the chief operating decision maker of the Group that makes strategic decisions. The Group considers the business from a property and service perspective. The Group’s principal operating and developmental activities occur in Macao, which is the sole geographic area in which the Group is domiciled. The Group reviews the results of operations for each of its key operating segments, which are also the reportable segments: The Venetian Macao, Sands Cotai Central, The Parisian Macao, The Plaza Macao and Sands Macao. The Group also reviews construction and development activities for each of its primary projects currently under development, in addition to its reportable segments noted above, which include the renovation, expansion and rebranding of Sands Cotai Central to The Londoner Macao, The Grand Suites at Four Seasons and The Londoner Court. The Group has included Ferry and other operations (comprised primarily of the Group’s ferry operations and various other operations that are ancillary to its properties) to reconcile to consolidated results of operations and financial condition. The Venetian Macao, Sands Cotai Central, The Parisian Macao, The Plaza Macao and Sands Macao derive their revenues primarily from casino wagers, room sales, rental income from the Group’s mall tenants, food and beverage transactions, convention sales and entertainment. Ferry and other operations mainly derive their revenues from the sale of ferry tickets for transportation between Hong Kong and Macao. The Group’s segment information is as follows: Year ended December 31, 2017 2018 2019 (US$ in millions) Net revenues The Venetian Macao $ 2,924 $ 3,474 $ 3,510 Sands Cotai Central 1,916 2,153 2,052 The Parisian Macao 1,395 1,533 1,650 The Plaza Macao 587 719 877 Sands Macao 626 650 628 Ferry and other operations 153 151 106 Inter-segment revenues (i) (15) (15) (15) $ 7,586 $ 8,665 $ 8,808 Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2. (i) Inter-segment revenues are charged at prevailing market rates. 5. SEGMENT INFORMATION (CONTINUED) The following is a reconciliation of Adjusted Property EBITDA to profit for the year attributable to equity holders of the Company: Year ended December 31, 2017 2018 2019 Note (US$ in millions) Adjusted Property EBITDA (Unaudited) (i) The Venetian Macao $ 1,137 $ 1,378 $ 1,407 Sands Cotai Central 633 759 726 The Parisian Macao 412 484 544 The Plaza Macao 233 262 345 Sands Macao 174 178 175 Ferry and other operations 22 18 (4) Total Adjusted Property EBITDA 2,611 3,079 3,193 Share-based compensation, net of amount capitalized (ii) (12) (13) (14) Corporate expense 5(a) (120) (125) (129) Pre-opening expense 5(b) (7) (5) (23) Depreciation and amortization (676) (655) (706) Net foreign exchange (losses) gains 7(a) (11) 4 35 Impairment loss on property and equipment 3(b) — — (65) Loss on disposal of property and equipment, investment properties and intangible assets 7(a) (12) (131) (16) Operating profit 1,773 2,154 2,275 Interest income 5 20 38 Interest expense, net of amounts capitalized (153) (225) (280) Loss on modification or early retirement of debt — (81) — Profit before income tax 1,625 1,868 2,033 Income tax (expense) benefit (22) 7 — Profit for the year attributable to equity holders of the Company $ 1,603 $ 1,875 $ 2,033 (i) Adjusted Property EBITDA, which is a non-IFRS financial measure, is profit or loss attributable to equity holders of the Company before share-based compensation, corporate expense, pre-opening expense, depreciation and amortization, net foreign exchange gains or losses, impairment loss on property and equipment, gain or loss on disposal of property and equipment, investment properties and intangible assets, interest, gain or loss on modification or early retirement of debt and income tax benefit or expense. Management utilizes Adjusted Property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation. Gaming companies have historically reported Adjusted Property EBITDA as a supplemental performance measure to IFRS financial measures. In order to view the operations of their casinos on a more stand-alone basis, gaming companies, including the Group, have historically excluded certain expenses that do not relate to the management of specific casino properties, such as pre-opening expense and corporate expense, from their Adjusted Property EBITDA calculations. Adjusted Property EBITDA should not be interpreted as an alternative to profit or operating profit (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with IFRS. The Group has significant uses of cash flow, including capital expenditures, dividend payments, interest payments and debt principal repayments, which are not reflected in Adjusted Property EBITDA. Not all companies calculate Adjusted Property EBITDA in the same manner. As a result, Adjusted Property EBITDA as presented by the Group may not be directly comparable to other similarly titled measures presented by other companies. (ii) The amount comprises of equity settled share-based payment expense, net of amounts capitalized and cash settled share-based payment expense, net of amounts capitalized amounting to US$12 million and nil, US$13 million and nil, and US$13 million and US$1 million for the years ended December 31, 2017, 2018 and 2019, respectively. 5. SEGMENT INFORMATION (CONTINUED) (a) Corporate expense Year ended December 31, 2017 2018 2019 Note (US$ in millions) Royalty fees 27(a)(v) $ 98 $ 106 $ 110 Management fees 6 6 5 Employee benefit expenses 6 7 7 Other support services 4 3 4 Other expenses 6 3 3 $ 120 $ 125 $ 129 (b) Pre-opening expense Year ended December 31, 2017 2018 2019 (US$ in millions) Utilities and operating supplies $ 2 $ 2 $ — Management fees 1 — — Employee benefit expenses — 1 9 Contract labor and services — 1 3 Advertising and promotions — — 9 Other support services 3 1 1 Other expenses 1 — 1 $ 7 $ 5 $ 23 Year ended December 31, 2017 2018 2019 (US$ in millions) Depreciation and amortization The Venetian Macao $ 151 $ 146 $ 159 Sands Cotai Central 239 274 299 The Parisian Macao 204 163 161 The Plaza Macao 36 33 40 Sands Macao 31 24 27 Ferry and other operations 15 15 20 $ 676 $ 655 $ 706 5. SEGMENT INFORMATION (CONTINUED) Year ended December 31, 2017 2018 2019 (US$ in millions) Capital expenditures The Venetian Macao $ 152 $ 179 $ 131 Sands Cotai Central 84 130 276 The Parisian Macao 204 130 32 The Plaza Macao 22 63 296 Sands Macao 10 29 16 Ferry and other operations 5 1 3 $ 477 $ 532 $ 754 December 31, 2018 2019 (US$ in millions) Total assets The Venetian Macao $ 3,447 $ 3,236 Sands Cotai Central 4,378 4,531 The Parisian Macao 2,489 2,372 The Plaza Macao 913 1,255 Sands Macao 328 323 Ferry and other operations 503 383 $ 12,058 $ 12,100 Almost all of the non-current assets of the Group are located in Macao.

Employee Benefits Expenses (Inc

Employee Benefits Expenses (Including Directors' Emoluments)	12 Months Ended
	Dec. 31, 2019
Disclosure of employee benefits [Abstract]
Employee Benefit Expenses (Including Directors' Emoluments)	EMPLOYEE BENEFIT EXPENSES (INCLUDING DIRECTORS’ EMOLUMENTS) Year ended December 31, 2017 2018 2019 (US$ in millions) Wages, salaries, bonus and termination costs $ 1,048 $ 1,096 $ 1,145 Staff meals 57 55 57 Pension costs - defined contribution plan 37 38 40 Share-based compensation, net of amount capitalized (i) 12 13 14 Other employee benefit expenses 39 36 36 $ 1,193 $ 1,238 $ 1,292 (i) Share-based compensation of nil, US$1 million and US$1 million was capitalized during the years ended December 31, 2017, 2018 and 2019, respectively. For further information related to the Company’s equity award plan and LVS’ equity award plan, see Note 28 to the consolidated financial statements. (a) Pension costs — defined contribution plan Contributions totaling US$7 million and US$8 million remained payable to the provident fund as at December 31, 2018 and 2019, respectively. Forfeited contributions totaling US$4 million and US$4 million were utilized during the years ended December 31, 2018 and 2019, respectively, leaving US$1 million and US$1 million available as at December 31, 2018 and 2019, respectively, to reduce future contributions. (b) Directors’ emoluments The remuneration of the Company’s Directors is as follows: Fees Salaries Discretionary bonuses (i) Pension costs Estimated money value of other benefits (ii) Total (US$ in thousands) Year ended December 31, 2017 Executive Directors Sheldon Gary Adelson $ — $ — $ — $ — $ — $ — Wong Ying Wai — 2,334 1,497 116 637 4,584 Non-Executive Directors Robert Glen Goldstein — — — — — — Charles Daniel Forman 150 — — — — 150 Independent Non-Executive Directors Chiang Yun 150 — — — — 150 Victor Patrick Hoog Antink 180 — — — — 180 Steven Zygmunt Strasser 180 — — — — 180 Kenneth Patrick Chung 150 — — — — 150 Wang Sing (iii) 70 — — — — 70 $ 880 $ 2,334 $ 1,497 $ 116 $ 637 $ 5,464 6. EMPLOYEE BENEFIT EXPENSES (INCLUDING DIRECTORS’ EMOLUMENTS) (CONTINUED) (b) Directors’ emoluments (continued) Fees Salaries Discretionary bonuses (i) Pension costs Estimated money value of other benefits (ii) Total (US$ in thousands) Year ended December 31, 2018 Executive Directors Sheldon Gary Adelson $ — $ — $ — $ — $ — $ — Wong Ying Wai — 2,337 1,494 117 667 4,615 Non-Executive Directors Robert Glen Goldstein — — — — — — Charles Daniel Forman 150 — — — — 150 Independent Non-Executive Directors Chiang Yun 150 — — — — 150 Victor Patrick Hoog Antink 180 — — — — 180 Steven Zygmunt Strasser 180 — — — — 180 Kenneth Patrick Chung 150 — — — — 150 Wang Sing (iii) 117 — — — — 117 $ 927 $ 2,337 $ 1,494 $ 117 $ 667 $ 5,542 Fees Salaries Discretionary bonuses (i) Pension costs Estimated money value of other benefits (ii) Total (US$ in thousands) Year ended December 31, 2019 Executive Directors Sheldon Gary Adelson $ — $ — $ — $ — $ — $ — Wong Ying Wai — 2,350 1,502 117 618 4,587 Non-Executive Directors Robert Glen Goldstein — — — — — — Charles Daniel Forman 150 — — — — 150 Independent Non-Executive Directors Chiang Yun 150 — — — — 150 Victor Patrick Hoog Antink 180 — — — — 180 Steven Zygmunt Strasser 180 — — — — 180 Kenneth Patrick Chung 150 — — — — 150 $ 810 $ 2,350 $ 1,502 $ 117 $ 618 $ 5,397 (i) The discretionary bonuses are determined by reference to the individual performance of the Directors and the Chief Executives and the Group’s performance, and approved by the Remuneration Committee. (ii) Other benefits mainly include share-based compensation, accommodation, meals, home visit travel costs and medical insurance. (iii) Wang Sing was appointed as an Independent Non-Executive Director with effect from July 14, 2017 and resigned as an Independent Non-Executive Director with effect from October 11, 2018. 6. EMPLOYEE BENEFIT EXPENSES (INCLUDING DIRECTORS’ EMOLUMENTS) (CONTINUED) (b) Directors’ emoluments (continued) The Executive Directors’ emoluments were for their services in connection with the management of the affairs of the Group. The Non-Executive Directors’ and Independent Non-Executive Directors’ emoluments were for their services as directors of the Company. In addition to the Directors’ emoluments disclosed above, Sheldon Gary Adelson and Robert Glen Goldstein received compensation (inclusive of share-based compensation) from LVS in respect of their services to LVS and its subsidiaries (including the Group). An amount of US$3 million, US$3 million and US$4 million was charged by LVS to the Group in respect of management and administrative services of Robert Glen Goldstein provided to the Group for the years ended December 31, 2017, 2018 and 2019, respectively. No emoluments were paid to any Directors as an inducement to join or upon joining the Group or as compensation for loss of office for the years ended December 31, 2017, 2018 and 2019. With the exception of the continuing connected transactions disclosed in the 2017 Annual Report, 2018 Annual Report and 2019 Annual Report of the Company, none of the Directors has any material interests in transactions, arrangements or contracts entered into by the Company or the LVS Group. None of the Directors waived or has agreed to waive any emoluments for the years ended December 31, 2017, 2018 and 2019. (c) Five highest paid individuals For the years ended December 31, 2017, 2018 and 2019, the five individuals whose emoluments were the highest in the Group include one Director, whose emoluments are reflected in the analysis presented above. The emoluments payable to the remaining four individuals for the years ended December 31, 2017, 2018 and 2019, are as follows: Year ended December 31, 2017 2018 2019 (US$ in thousands) Basic salaries, allowances and benefits in kind $ 5,462 $ 5,496 $ 5,501 Bonus 2,980 2,551 3,858 Pension costs 191 191 219 $ 8,633 $ 8,238 $ 9,578 6. EMPLOYEE BENEFIT EXPENSES (INCLUDING DIRECTORS’ EMOLUMENTS) (CONTINUED) (c) Five highest paid individuals (continued) The emoluments of the above mentioned individuals fall within the following bands: Year ended December 31, 2017 2018 2019 (Number of individuals) HK$13,000,001 (approximately US$1,669,000) – 1 1 — HK$15,500,001 (approximately US$1,990,000) – — 1 — HK$16,000,001 (approximately US$2,054,000) – — 1 2 HK$16,500,001 (approximately US$2,119,000) – 1 — — HK$17,500,001 (approximately US$2,247,000) – — — 1 HK$18,000,001 (approximately US$2,311,000) – 1 — — HK$18,500,001 (approximately US$2,375,000) – 1 — — HK$19,000,001 (approximately US$2,440,000) – — 1 — HK$24,500,001 (approximately US$3,146,000) – — — 1 4 4 4 No emoluments were paid to any of the five highest paid individuals as an inducement to join or upon joining the Group or as compensation for loss of office for the years ended December 31, 2017, 2018 and 2019.

Other Expenses, Gains and Losse

Other Expenses, Gains and Losses	12 Months Ended
Other Expenses, Gains and Losses	Dec. 31, 2019
Analysis of income and expense [abstract]
Other expenses, gains and losses [text block]	OTHER EXPENSES, GAINS AND LOSSES (a) An analysis of the operating expenses is as follows: Year ended December 31, 2017 2018 2019 (US$ in millions) Gaming tax $ 2,925 $ 3,430 $ 3,421 Employee benefit expenses 1,193 1,238 1,292 Depreciation and amortization 676 655 706 Inventories consumed 98 99 97 Other expenses, gains and losses (i) 921 1,089 1,017 Operating expenses $ 5,813 $ 6,511 $ 6,533 Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2. (i) Analysis of other expenses, gains and losses is as follows: Year ended December 31, 2017 2018 2019 Note (US$ in millions) Utilities and operating supplies $ 200 $ 207 $ 195 Contract labor and services 141 151 152 Advertising and promotions 116 124 129 Royalty fees 103 112 113 Repairs and maintenance 83 93 85 Management fees (1) 42 50 47 Provision for doubtful accounts, net 4 — — Provision for expected credit losses, net — 9 24 Operating lease expense 30 15 — Lease payments for which the recognition exemption is applied and variable lease payments not included in lease liabilities 14(c) — — 8 Auditor's remuneration 2 2 2 Loss on disposal of property and equipment, investment properties and intangible assets (2) 12 131 16 Impairment loss on property and equipment (3) 3(b) — — 65 Net foreign exchange losses (gains) 11 (4) (35) Other support services 111 100 101 Other operating expenses 66 99 115 $ 921 $ 1,089 $ 1,017 (1) Total management fees includes amounts charged by third parties and charged by related parties, net of amounts capitalized of US$22 million and US$20 million, US$23 million and US$27 million, and US$24 million and US$23 million for the years ended December 31, 2017, 2018 and 2019, respectively. (2) The loss on disposal of property and equipment, investment properties and intangible assets for the year ended December 31, 2018 primarily consisted of a loss of US$128 million on asset disposals related to the preparation of the construction site for The Grand Suites at Four Seasons. (3) The impairment loss for the year ended December 31, 2019 resulted from the decrease in volume of passengers in our ferry operations. For details refer to Note 3(b). 7. OTHER EXPENSES, GAINS AND LOSSES (CONTINUED) (b) The operating expenses can also be analyzed as follows: Year ended December 31, 2017 2018 2019 (US$ in millions) Casino $ 3,646 $ 4,216 $ 4,226 Rooms 176 185 190 Mall 53 53 55 Food and beverage 241 252 258 Convention, ferry, retail and other 209 212 178 Provision for doubtful accounts, net 4 — — Provision for expected credit losses, net — 9 24 General and administrative expense 657 672 698 Corporate expense 121 125 129 Pre-opening expense 7 5 23 Depreciation and amortization 676 655 706 Loss on disposal of property and equipment, investment properties and intangible assets 12 131 16 Impairment loss on property and equipment — — 65 Net foreign exchange losses (gains) 11 (4) (35) Operating expenses $ 5,813 $ 6,511 $ 6,533 Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.

Interest Expense, Net of Amount

Interest Expense, Net of Amounts Capitalized	12 Months Ended
Interest Expense, Net of Amounts Capitalized	Dec. 31, 2019
Disclosure of interest expense [Abstract]
Interest Expense, Net of Amounts Capitalized	INTEREST EXPENSE, NET OF AMOUNTS CAPITALIZED Year ended December 31, 2017 2018 2019 (US$ in millions) Bank borrowings $ 117 $ 85 $ — Senior Notes — 103 253 Amortization of deferred financing costs 21 22 15 Finance lease liabilities 7 8 — Lease liabilities — — 8 Standby fee and other financing costs 10 11 13 155 229 289 Less: interest capitalized (2) (4) (9) Interest expense, net of amounts capitalized $ 153 $ 225 $ 280 A capitalization rate of 2.7% to 3.3%, 3.2% to 5.4% and 4.4% to 5.3% for the years ended December 31, 2017, 2018 and 2019, respectively, was used, representing the effective finance costs of the loans to finance the assets under construction.

Income Tax Expense (Benefit)

Income Tax Expense (Benefit)	6 Months Ended	12 Months Ended
Income Tax Expense (Benefit)	Jun. 30, 2020	Dec. 31, 2019
Major components of tax expense (income) [abstract]
Disclosure of income tax [text block]	INCOME TAX BENEFIT Six months ended June 30, 2020 2019 (US$ in millions) (Unaudited) Current income tax Lump sum in lieu of Macao complementary tax on dividends $ 2 $ 2 Deferred income tax (2) (8) Income tax benefit $ — $ (6)	INCOME TAX EXPENSE (BENEFIT) Year ended December 31, 2017 2018 2019 (US$ in millions) Current income tax Lump sum in lieu of Macao complementary tax on dividends $ 5 $ 5 $ 5 Other overseas taxes 1 — — Deferred income tax expense (benefit) 16 (12) (5) Income tax expense (benefit) $ 22 $ (7) $ — Deferred income tax benefit was US$12 million for the year ended December 31, 2018, compared to deferred income tax expense of US$16 million for the year ended December 31, 2017. The deferred income tax benefit in 2018 was primarily due to the reversal of deferred tax liabilities related to accelerated tax depreciation allowance. The 2017 deferred income tax expense was primarily driven by the increase in valuation allowance related to net operating tax losses which either expired or are expected to expire without being utilized. Deferred income tax benefit was US$5 million for the year ended December 31, 2019, compared to deferred income tax benefit of US$12 million for the year ended December 31, 2018. The deferred income tax benefit in 2019 was primarily due to the reversal of deferred tax liabilities related to accelerated tax depreciation allowance. (a) Macao complementary tax Macao complementary tax is levied at progressive rates ranging from 3% to 9% on the taxable income above MOP32,000 (equivalent to US$4,000) but below MOP300,000 (equivalent to US$37,500), and thereafter at a fixed rate of 12%. For the years ended December 31, 2017, 2018 and 2019, a special complementary tax incentive was provided to the effect that the tax free income threshold was increased from MOP32,000 to MOP600,000 (equivalent to US$4,000 to US$75,000) with the profit above MOP600,000 (equivalent to US$75,000) being taxed at a fixed rate of 12%. Pursuant to the Dispatch No. 320/2013 issued by the Chief Executive of Macao on October 3, 2013, VML was granted an extension of the tax exemption regarding Macao complementary tax on its gaming activities for an additional five years, effective from the tax year 2014 to the tax year 2018. Pursuant to the Dispatch No. 194/2018 issued by the Chief Executive of Macao on August 20, 2018, VML was granted an extension of the tax exemption through June 26, 2022, the date VML’s subconcession agreement expires. Regarding the other subsidiaries, during the years ended December 31, 2017, 2018 and 2019, Macao complementary tax is calculated progressively at a maximum of 12% of the estimated assessable profit. (b) Lump sum in lieu of Macao complementary tax on dividends VML entered into Shareholder Dividend Tax Agreements with the Macao government. The agreements provided for an annual payment in lieu of Macao complementary tax otherwise due by VML’s shareholders on dividend distributions to them from gaming profits, effective through the end of 2018. In April 2019, VML entered into another Shareholder Dividend Tax Agreement with the Macao government for an extension of the agreement through June 26, 2022, to correspond to the Macao complementary tax exemption on its gaming activities (see also Note 9(a)). (c) Hong Kong profits tax The Company’s subsidiaries that carry on business in Hong Kong are subject to the Hong Kong profits tax at the maximum rate of 16.5% for the years ended December 31, 2017, 2018 and 2019. 9. INCOME TAX EXPENSE (BENEFIT) (CONTINUED) (d) Reconciliation between income tax expense (benefit) and accounting profit at applicable tax rates The tax on the Group’s profit before income tax differs from the theoretical amount that would arise using the domestic tax rates applicable to profits of the consolidated entities in the respective jurisdictions as follows: Year ended December 31, 2017 2018 2019 (US$ in millions) Profit before income tax $ 1,625 $ 1,868 $ 2,033 Tax calculated at domestic rates applicable to profits in the respective jurisdictions 208 238 261 Tax effects of : Income not subject to tax (i) (837) (905) (966) Expenses not deductible for tax purposes (i), (ii) 549 574 603 Amortization of pre-opening expenses previously not recognized (9) (3) (1) Origination and reversal of temporary difference, net 20 4 4 Tax losses for which no deferred income tax assets were recognized 87 80 95 Lump sum in lieu of Macao complementary tax of dividends 5 5 5 Other (1) — (1) Income tax expense (benefit) $ 22 $ (7) $ — (i) For the years ended December 31, 2017, 2018 and 2019, VML was exempt from Macao complementary tax on its gaming activities (see also Note 9(a)). In addition, lease/right-of-use income recorded in VML, Venetian Cotai Limited (“VCL”) and Venetian Orient Limited (“VOL”) were subject to property tax (Note (ii)), and should, therefore, also be excluded from Macao complementary tax calculations. Accordingly, casino revenues and lease/right-of-use income and their corresponding expenses incurred were presented as “Income not subject to tax” and “Expenses not deductible for tax purposes,” respectively, in the calculations above.

(Loss) Earnings Per Share

(Loss) Earnings Per Share	6 Months Ended	12 Months Ended
(Loss) Earnings Per Share	Jun. 30, 2020	Dec. 31, 2019
(Loss) Earnings per share [Abstract]
(Loss) Earnings per share	(LOSS) EARNINGS PER SHARE Basic earnings (loss) per share is calculated by dividing the profit (loss) for the period attributable to equity holders of the Company by the weighted average number of ordinary shares outstanding during the period. Diluted earnings (loss) per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. The calculation of basic and diluted (loss) earnings per share is based on the following: Six months ended June 30, 2020 2019 (Unaudited) (Loss) profit attributable to equity holders of the Company (US$ in $ (716) $ 1,067 Weighted average number of shares for basic (loss) earnings per 8,088,743 8,082,946 Adjustment for share options (thousand shares) (i) — 5,686 Weighted average number of shares for diluted (loss) earnings 8,088,743 8,088,632 (Loss) earnings per share, basic (ii) (US8.85 cents) US13.20 cents (Loss) earnings per share, basic (HK68.59 cents) HK103.16 cents (Loss) earnings per share, diluted (ii) (US8.85 cents) US13.19 cents (Loss) earnings per share, diluted (HK68.59 cents) HK103.08 cents (i) The computation of the diluted loss per share for the six months ended June 30, 2020 did not assume the exercise of the Company’s share options because the exercise would result in a decrease in loss per share. For the six months ended June 30, 2019, the Company had outstanding share options that will potentially dilute the ordinary shares. (ii) The translation of US$ amounts into HK$ amounts has been made at the exchange rate of US$1.00 to HK$7.7504 (six months ended June 30, 2019: US$1.00 to HK$7.8152).	EARNINGS PER SHARE Basic earnings per share is calculated by dividing the profit for the year attributable to equity holders of the Company by the weighted average number of ordinary shares outstanding during the year. Diluted earnings per share is calculated by adjusting the weighted average number of ordinary shares outstanding to assume conversion of all dilutive potential ordinary shares. For the years ended December 31, 2017, 2018 and 2019, the Company had outstanding share options that would potentially dilute the ordinary shares. 10. EARNINGS PER SHARE (CONTINUED) The calculation of basic and diluted earnings per share is based on the following: Year ended December 31, 2017 2018 2019 Profit attributable to equity holders of the Company (US$ in millions) $ 1,603 $ 1,875 $ 2,033 Weighted average number of shares for basic earnings per share (thousand shares) 8,072,709 8,078,946 8,085,149 Adjustments for share options (thousand shares) 4,544 7,328 5,057 Weighted average number of shares for diluted earnings per share (thousand shares) 8,077,253 8,086,274 8,090,206 Earnings per share, basic US19.86 cents US23.21 cents US25.14 cents Earnings per share, basic (i) HK155.22 cents HK181.75 cents HK195.79 cents Earnings per share, diluted US19.85 cents US23.19 cents US25.13 cents Earnings per share, diluted (i) HK155.14 cents HK181.59 cents HK195.71 cents (i) The translation of US$ amounts into HK$ amounts has been made at the exchange rate on December 31, 2017, 2018 and 2019 of US$1.00 to HK$7.8157, US$1.00 to HK$7.8306 and US$1.00 to HK$7.7879, respectively.

Dividends

Dividends	6 Months Ended	12 Months Ended
Dividends	Jun. 30, 2020	Dec. 31, 2019
Disclosure of dividends [Abstract]
Dividends	DIVIDENDS Six months ended June 30, 2020 2019 (US$ in millions) (Unaudited) 2019 interim dividend of HK$0.99 (equivalent to US$0.127) per ordinary share declared on January 17, 2020 and paid $ 1,025 $ — 2018 interim dividend of HK$0.99 (equivalent to US$0.127) per ordinary share declared on January 18, 2019 and paid — 1,023 2018 final dividend of HK$1.00 (equivalent to US$0.127) per ordinary share declared on May 24, 2019 and paid — 1,031 $ 1,025 $ 2,054 On January 17, 2020, the Board declared an interim dividend of HK$0.99 (equivalent to US$0.127) per share. The interim dividend, amounting in aggregate to HK$8.01 billion (equivalent to US$1.03 billion), was paid on February 21, 2020. On April 17, 2020, the Board resolved not to recommend the payment of a final dividend in respect of the year ended December 31, 2019. The Board does not recommend the payment of an interim dividend for the six months ended June 30, 2020.	DIVIDENDS Year ended December 31, 2017 2018 2019 2017 interim dividend of HK$0.99 (equivalent to US$0.127) per ordinary share declared on January 19, 2018 and paid $ 1,023 $ — $ — 2017 final dividend of HK$1.00 (equivalent to US$0.127) per ordinary share declared on May 25, 2018 and paid 1,030 — — 2018 interim dividend of HK$0.99 (equivalent to US$0.127) per ordinary share declared on January 18, 2019 and paid — 1,023 — 2018 final dividend of HK$1.00 (equivalent to US$0.127) per ordinary share declared on May 24, 2019 and paid — 1,031 — 2019 interim dividend of HK$0.99 (equivalent to US$0.127) per ordinary share declared on January 17, 2020 and paid — — 1,025 $ 2,053 $ 2,054 $ 1,025 Both the interim and final dividends referred to above have not been recognized as a liability as at December 31, 2017, 2018 and 2019. They have been or will be reflected as appropriations of reserves during 2018, 2019 and 2020, respectively. On January 17, 2020, the Board declared an interim dividend of HK$0.99 (equivalent to US$0.127) per share, payable to Shareholders of the Company whose names appeared on the register of members of the Company on February 5, 2020. The interim dividend, amounting in aggregate to HK$8.01 billion (equivalent to US$1.03 billion), was paid on February 21, 2020. On April 17, 2020, the Board resolved not to recommend the payment of a final dividend in respect of the year ended December 31, 2019.

Investment Properties, Net

Investment Properties, Net	12 Months Ended
Investment Properties, Net	Dec. 31, 2019
Disclosure of detailed information about investment property [abstract]
Disclosure of investment property [text block]	INVESTMENT PROPERTIES, NET Total (US$ in millions) At January 1, 2018 Cost $ 1,626 Accumulated depreciation (315) At January 1, 2018 1,311 Year ended December 31, 2018 Opening net book amount 1,311 Additions 62 Adjustments to project costs 5 Disposals (92) Transfers (i) (609) Depreciation (45) Exchange difference (3) Closing net book amount 629 At January 1, 2019 Cost 988 Accumulated depreciation (359) At January 1, 2019 $ 629 Year ended December 31, 2019 Opening net book amount $ 629 Additions 6 Transfers 6 Depreciation (57) Exchange difference 3 Closing net book amount 587 At December 31, 2019 Cost 1,004 Accumulated depreciation (417) At December 31, 2019 $ 587 (i) Pursuant to IAS 40 Investment Property , an entity shall transfer a property to/or from investment property when and only when there is a change in use. Subsequent to the Board’s approval in October 2017 to introduce approximately 370 new suites in the Londoner Court and approximately 290 new suites in The Grand Suites at Four Seasons, observable actions have taken place to support management’s intention to convert the Londoner Court and The Grand Suites at Four Seasons to owner-occupied assets. As a result, during the year ended December 31, 2018, the assets pertaining to the Londoner Court and The Grand Suites at Four Seasons with an aggregate carrying amount of US$609 million were transferred from investment properties to property and equipment. 12. INVESTMENT PROPERTIES, NET (CONTINUED) (a) Measuring investment property at fair value The Group engaged an independent professional valuer, Knight Frank Petty Limited, to perform the valuation of the Group’s investment properties, which are located in Macao, on an annual basis. Knight Frank Petty Limited is a professionally qualified independent external valuer, and had appropriate recent experience in the relevant location and category of the properties being valued. In determining the fair value of the investment properties, the valuer uses assumptions and estimates that reflect, amongst other factors, comparable market transactions in an active market, lease/right-of-use income from current leases/right-of-use and assumptions about lease/right-of- use income from future leases/rights-of-use in light of current market conditions, capitalization rates, terminal yield and reversionary income potential. Valuations were based on income and an open market value approach for all completed properties as follows: December 31, 2018 2019 (US$ in millions) Fair value of the investment properties $ 8,243 $ 8,354 In estimating the fair value of the properties, the highest and best use of the properties is their current use. The fair value estimate of the Group’s investment properties is a Level 3 input. (b) Amounts recognized in profit or loss for investment properties Year ended December 31, 2017 2018 2019 (US$ in millions) Mall income $ 479 $ 507 $ 531 Direct operating expenses arising from investment properties that generate right-of-use income $ 55 $ 51 $ 50 Direct operating expenses that did not generate right-of-use income $ 2 $ 5 $ 5 (c) Leasing arrangements The investment properties are leased to mall tenants under operating leases with rentals payable on a monthly basis. Lease payments in the mall leasing contracts include variable lease payments that depend on turnover of the retail store. Where necessary to reduce credit risk, the Group may obtain bank guarantees for the term of a lease or cash security deposit at the commencement of a lease. There is no residual value guarantee for our current mall leases. The future aggregate minimum lease/base fee receivables under non-cancelable agreements are as follows: December 31, 2018 2019 (US$ in millions) No later than 1 year $ 331 $ 361 1 to 2 years 257 289 2 to 3 years 188 205 3 to 4 years 124 67 4 to 5 years 33 42 Later than 5 years 59 47 $ 992 $ 1,011 Turnover fees, representing variable lease income, earned during the years ended December 31, 2017, 2018 and 2019 were US$28 million, US$64 million and US$74 million, respectively.

Property and Equipment, Net

Property and Equipment, Net	6 Months Ended	12 Months Ended
Property and Equipment, Net	Jun. 30, 2020	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [abstract]
Property and Equipment, Net	PROPERTY AND EQUIPMENT, NETDuring the six months ended June 30, 2020, the Group had additions of property and equipment with a cost of US$609 million and disposed property and equipment with a net book value of US$17 million (six months ended June 30, 2019: US$285 million and US$2 million, respectively).	PROPERTY AND EQUIPMENT, NET The movements of property and equipment for the year are as follows: Leasehold interests in land Land improvements Buildings and building improvements Leasehold improvements Vehicles Ferries Furniture, fittings & equipment Construction-in-progress Total (US$ in millions) At January 1, 2018 Cost $ 596 $ 381 $ 8,510 $ 7 $ 40 $ 251 $ 1,724 $ 93 $ 11,602 Accumulated depreciation (111) (134) (2,301) (6) (32) (117) (1,214) — (3,915) At January 1, 2018 $ 485 $ 247 $ 6,209 $ 1 $ 8 $ 134 $ 510 $ 93 $ 7,687 Year ended December 31, 2018 Opening net book amount $ 485 $ 247 $ 6,209 $ 1 $ 8 $ 134 $ 510 $ 93 $ 7,687 Additions 10 1 2 — 3 — 98 385 499 Adjustments to project costs — — (5) — — — 3 (6) (8) Disposals — (4) (34) — — — (4) (1) (43) Transfers 69 13 725 — — — 114 (312) 609 Depreciation (12) (14) (421) — (4) (12) (135) — (598) Exchange difference — — (11) — — — (1) — (12) Closing net book amount $ 552 $ 243 $ 6,465 $ 1 $ 7 $ 122 $ 585 $ 159 $ 8,134 At January 1, 2019 Cost $ 675 $ 389 $ 9,161 $ 7 $ 43 $ 251 $ 1,904 $ 159 $ 12,589 Accumulated depreciation (123) (146) (2,696) (6) (36) (129) (1,319) — (4,455) At January 1, 2019 $ 552 $ 243 $ 6,465 $ 1 $ 7 $ 122 $ 585 $ 159 $ 8,134 Year ended December 31, 2019 Opening net book amount $ 552 $ 243 $ 6,465 $ 1 $ 7 $ 122 $ 585 $ 159 $ 8,134 IFRS 16 transition adjustment — — 6 — — — — — 6 Restated balance, beginning of period $ 552 $ 243 $ 6,471 $ 1 $ 7 $ 122 $ 585 $ 159 $ 8,140 Additions — 3 7 1 35 — 89 768 903 Adjustments to project costs — — — — — — 1 (13) (12) Disposals — — (1) — — — (3) (4) (8) Transfers — 5 265 — — — 143 (419) (6) Impairment — — — — — (65) — — (65) Depreciation (12) (9) (442) (1) (6) (12) (151) — (633) Exchange difference — 1 35 — — — 3 3 42 Closing net book amount $ 540 $ 243 $ 6,335 $ 1 $ 36 $ 45 $ 667 $ 494 $ 8,361 At December 31, 2019 Cost $ 675 $ 399 $ 9,377 $ 7 $ 63 $ 252 $ 2,082 $ 494 $ 13,349 Accumulated depreciation (135) (156) (3,042) (6) (27) (207) (1,415) — (4,988) At December 31, 2019 $ 540 $ 243 $ 6,335 $ 1 $ 36 $ 45 $ 667 $ 494 $ 8,361 13. PROPERTY AND EQUIPMENT, NET (CONTINUED) Interest expense of US$4 million and US$9 million per Note 8 and other direct costs of US$23 million and US$26 million have been capitalized for the years ended December 31, 2018 and 2019, respectively. The Group received land concessions from the Macao government to build on the sites on which Sands Macao, The Venetian Macao, The Plaza Macao, Sands Cotai Central and The Parisian Macao are located. The Group does not own these land sites; however, the land concessions, which have an initial term of 25 years and are renewable at the Group’s option, in accordance with Macao laws, grant the Group exclusive use of the land. As specified in the land concessions, the Group is required to pay premiums for each parcel as well as annual rent for the term of the land concessions, which may be revised every five years by the Macao government. The initial land lease premiums for all parcels have been fully paid for. The Group anticipates a useful life of 50 years related to these land concessions. As at December 31, 2018 and 2019, the Group’s property and equipment were not pledged as securities for any liabilities. Leased assets under IAS 17 (before application of IFRS 16 on January 1, 2019) As at December 31, 2018, equipment included the following amounts where the Group was the lessee under finance leases: December 31, 2018 (US$ in millions) Cost $ 14 Accumulated depreciation (10) Net book amount $ 4 As at December 31, 2018, the Group leased various equipment under non-cancelable finance lease agreements. The lease terms were between three

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2019
Disclosure of quantitative information about leases for lessee [abstract]
Disclosure of additional information about leasing activities for lessee [text block]	LEASES This note provides information for leases where the Group is a lessee. For leases where the Group is a lessor, see Note 12(c). (a) Operating lease arrangements under IAS 17 (before application of IFRS 16 on January 1, 2019) As at December 31, 2018, the Group had future aggregate minimum lease payments under non-cancelable operating leases for property and equipment as follows: December 31, 2018 (US$ in millions) No later than 1 year $ 5 Later than 1 year and no later than 5 years 2 $ 7 From January 1, 2019, the Group has recognized right-of-use assets and lease liabilities for these leases, except for short-term and leases with low-value assets, see Note 2(b), Note 14(b) and Note 14 (c) for further information. 14. LEASES (CONTINUED) (b) Right-of-use assets under IFRS 16 (upon application of IFRS 16 on January 1, 2019) The movements of right-of-use assets included within property and equipment, net are as follows: Property and equipment - Leasehold interests in land Property and equipment, net - Other Investment properties - Leasehold interests in land Total Right-of-use assets (US$ millions) At December 31, 2018 Cost $ 675 $ 14 $ 56 $ 745 Accumulated depreciation (123) (10) (12) (145) At December 31, 2018 $ 552 $ 4 $ 44 $ 600 At January 1, 2019 Opening net book amount $ 552 $ 4 $ 44 $ 600 IFRS 16 transition adjustment — 6 — 6 Restated balance, beginning of period $ 552 $ 10 $ 44 $ 606 Additions — 20 — 20 Depreciation (12) (9) (1) (22) Closing net book amount $ 540 $ 21 $ 43 $ 604 At December 31, 2019 Cost $ 675 $ 32 $ 56 $ 763 Accumulated depreciation (135) (11) (13) (159) At December 31, 2019 $ 540 $ 21 $ 43 $ 604 In 2018, the Group has already recognized an asset and a related finance lease liability for finance lease arrangements and prepaid lease payments for leasehold interests in land where the Group was a lessee under IAS 17, therefore the additional right-of-use assets and lease liabilities recognized upon adoption for leases previously classified as operating leases were US$6 million. The assets were presented in property and equipment and the liabilities as part of the Group’s borrowings. 14. LEASES (CONTINUED) (c) Lease liabilities Finance lease liabilities under IAS 17 (before application of IFRS 16 on January 1, 2019) For the year ended December 31, 2018, the Group was a lessee under finance leases for land and equipment. (i) The future minimum lease payments (including interest) and the present value of the minimum lease payments under finance lease obligations for land were as follows: December 31, 2018 (US$ in millions) Minimum finance lease payments: No later than 1 year $ 8 Later than 1 year and no later than 2 years 5 Later than 2 years and no later than 5 years 16 Later than 5 years 312 341 Future finance charges on finance lease obligations (211) Present value of finance lease liabilities $ 130 Present value of minimum finance lease payments: No later than 1 year $ 8 Later than 1 year and no later than 2 years 5 Later than 2 years and no later than 5 years 12 Later than 5 years 105 $ 130 (ii) The future minimum lease payments (including interest) and the present value of the minimum lease payments under finance lease obligations for equipment were as follows: December 31, 2018 (US$ in millions) Minimum finance lease payments: No later than 1 year $ 2 Later than 1 year and no later than 2 years 2 Later than 2 years and no later than 5 years 1 5 Future finance charges on finance lease obligations — Present value of finance lease liabilities $ 5 Present value of minimum finance lease payments: No later than 1 year $ 2 Later than 1 year and no later than 2 years 2 Later than 2 years and no later than 5 years 1 $ 5 14. LEASES (CONTINUED) (c) Lease liabilities (continued) Finance lease liabilities under IFRS 16 (upon application of IFRS 16 on January 1, 2019) The lease liabilities included within borrowings are as follows: January 1, December 31, (US$ in millions) Current liabilities - Borrowings $ 14 $ 19 Non-current liabilities - Borrowings 127 128 Total lease liabilities $ 141 $ 147 The weighted average effective interest rate of lease liabilities as at December 31, 2019 is 4.9%. The maturity analysis of the lease liabilities are presented in Note 29(a)(iii). (d) Amounts recognized in the consolidated income statement under IFRS 16 (upon application of IFRS 16 on January 1, 2019) Year ended December 31, (US$ in millions) Depreciation charge of right-of-use: Investment properties, net - Leasehold interests in land $ 1 Property and equipment, net - Leasehold interests in land 12 Property and equipment, net - other 9 $ 22 Interest expense on lease liabilities $ 8 Expense relating to short-term leases for which the recognition exemption is applied 2 Expense relating to low-value items for which the recognition exemption is applied 1 Expense relating to variable lease payments not included in lease liabilities 5 $ 38 The total cash outflow for leases including interest payments for the year ended December 31, 2019 is US$30 million, which includes variable lease payments, low-value lease payments and short-term lease payments of US$8 million in total. (e) Extension and termination options and residual value guarantee (upon application of IFRS 16 on January 1, 2019) During the year ended December 31, 2019, the Group has leases for various real estate (including leasehold interest in land), vehicles and equipment. The Group’s leases include options to extend the lease term by one month to 25 years. Termination options are included in property and equipment leases across the Group. These are used to maximize operational flexibility in terms of managing the assets used in the group’s operations. The majority of the termination options held are exercisable only by the group and not by the respective lessor. During the year ended December 31, 2019, the Group’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Financial Instruments by Catego

Financial Instruments by Category	6 Months Ended	12 Months Ended
Financial Instruments by Category	Jun. 30, 2020	Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract]
Financial instruments by Category	FAIR VALUE AND FAIR VALUE HIERARCHY OF FINANCIAL INSTRUMENTS The carrying values of cash and cash equivalents, restricted cash and cash equivalents, trade and other receivables and trade and other payables approximate their fair values at each balance sheet date. The estimated fair value of the Group’s Senior Notes as at June 30, 2020 was approximately US$7.49 billion (as at December 31, 2019: US$5.53 billion), which was based on level 2 inputs (quoted prices in markets that are not active) (as at December 31, 2019: same). In August 2018, the Company entered into interest rate swap agreements (the “IR Swaps”), which qualified and were designated as fair value hedges, swapping fixed-rate for variable-rate interest to hedge changes in the fair value of interest payments of Senior Notes issued in August 2018. These IR Swaps have a total notional value of US$5.50 billion and expire in August 2020. The total fair value of the IR Swaps as at June 30, 2020 was US$73 million (as at December 31, 2019: US$82 million). In the accompanying consolidated balance sheet, US$13 million (as at December 31, 2019: US$35 million) was recorded as an asset in “Other assets, net” current with an equal corresponding adjustment recorded against the carrying value of the related Senior Notes issued in August 2018, which adjustment represents the fair value of the additional interest income expected to be received subsequent to June 30, 2020, for the remaining term of the IR Swaps. The remaining US$60 million (as at December 31, 2019: US$47 million) was recorded as a receivable in “Trade and other receivables, net” current. The fair value of the IR Swaps was estimated using level 2 inputs obtained directly from the contractual counterparties and the final rate set was completed in May 2020 and no uncertainty in the outcome of the derivatives remains. As at December 31, 2019, the fair value of the IR Swaps was estimated using level 2 inputs from recently reported market forecasts of interest rates. Gains and losses due to changes in fair value of the IR Swaps completely offset changes in the fair value of the hedged portion of the underlying debt. Additionally, for the six months ended June 30, 2020, the Company recorded a US$40 million (six months ended June 30, 2019: US$5 million) reduction to interest expense related to the realized amount associated with the IR Swaps.	FINANCIAL INSTRUMENTS BY CATEGORY December 31, 2018 2019 Note (US$ in millions) Financial Assets Amortized cost: Trade and other receivables, net 18 $ 427 $ 456 Restricted cash and cash equivalents 13 15 Cash and cash equivalents 19 2,676 2,471 Deposits 3 3 3,119 2,945 FVTPL: Derivative financial instruments 24 15 34 Total $ 3,134 $ 2,979 December 31, 2018 2019 Note (US$ in millions) Financial Liabilities Amortized cost: Trade and other payables 22 $ 1,635 $ 1,459 Borrowings 23 5,562 5,608 Total $ 7,197 $ 7,067

Intangible Assets, Net

Intangible Assets, Net	12 Months Ended
Intangible Assets, Net	Dec. 31, 2019
Disclosure of detailed information about intangible assets [abstract]
Intangible Assets, Net	INTANGIBLE ASSETS, NET Computer software (US$ in millions) At January 1, 2018 Cost $ 88 Accumulated amortization (54) At January 1, 2018 $ 34 Year ended December 31, 2018 Opening net book amount $ 34 Additions 24 Amortization (12) Closing net book amount $ 46 At December 31, 2018 Cost $ 112 Accumulated amortization (66) At December 31, 2018 $ 46 Year ended December 31, 2019 Opening net book amount $ 46 Additions 18 Amortization (16) Closing net book amount $ 48 At December 31, 2019 Cost $ 130 Accumulated amortization (82) At December 31, 2019 $ 48

Deferred Income Tax Liabilities

Deferred Income Tax Liabilities	12 Months Ended
Deferred Income Tax Liabilities	Dec. 31, 2019
Changes in deferred tax liability (asset) [abstract]
Disclosure of deferred taxes [text block]	DEFERRED INCOME TAX LIABILITIES Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off and when the deferred income taxes relate to income taxes levied by the same taxation authority on either the taxable entity or different taxable entities where there is an intention to settle the balances on a net basis. The movements of the deferred tax liabilities are as follows: Accelerated depreciation allowance (US$ in millions) At January 1, 2018 $ (62) Credit for the year 12 At December 31, 2018 (50) Credit for the year 5 At December 31, 2019 $ (45) 17. DEFERRED INCOME TAX LIABILITIES (CONTINUED) Deferred tax assets are recognized for tax loss carryforwards to the extent realization of the related tax benefit through future taxable profits is probable. The unrecognized deferred income tax assets in respect of losses that can be carried forward against future taxable income and pre-opening expenses are as follows: December 31, 2018 2019 (US$ in millions) Arising from unused tax losses $ 270 $ 283 Arising from pre-opening expenses 6 4 $ 276 $ 287 As at December 31, 2018 and 2019, subject to the agreement by tax authorities, out of the total unrecognized tax losses of approximately US$2,210 million and US$2,311 million, respectively, an amount of approximately US$122 million and US$120 million, respectively, can be carried forward indefinitely. The remaining amount of approximately US$2,088 million and US$2,191 million for the years ended December 31, 2018 and 2019, respectively, will expire in one

Trade and Other Receivables and

Trade and Other Receivables and Prepayments, Net	6 Months Ended	12 Months Ended
Trade and Other Receivables and Prepayments, Net	Jun. 30, 2020	Dec. 31, 2019
Trade and other receivables [abstract]
Trade and Other Receivables and Prepayments, Net	TRADE RECEIVABLES, NET The aging analysis of trade receivables, net of provision for expected credit losses of US$112 million (as at December 31, 2019: US$106 million), is as follows: June 30, December 31, 2020 2019 (US$ in millions) (Unaudited) (Audited) 0–30 days $ 107 $ 259 31–60 days 4 42 61–90 days 2 26 Over 90 days 116 73 $ 229 $ 400 Trade receivables mainly consist of casino receivables. Absent special approval, the credit period granted to selected premium and mass market players is typically 7–15 days, while for gaming promoters, the receivable is typically repayable within one month following the granting of the credit, subject to terms of the relevant credit agreement.	TRADE AND OTHER RECEIVABLES AND PREPAYMENTS, NET December 31, 2018 2019 Note (US$ in millions) Trade receivables $ 461 $ 506 Less: provision for expected credit losses (94) (106) Trade receivables, net 18(a) 367 400 Other receivables 60 56 Prepayments 41 49 Deferred rent 81 81 Less: amortization of deferred rent (46) (50) provision for doubtful deferred rent (4) (3) Prepayments, net 72 77 Trade and other receivables and prepayments, net 499 533 Less: non-current portion: prepayments (3) (6) deferred rent (19) (17) (22) (23) Current portion $ 477 $ 510 Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019. 18. TRADE AND OTHER RECEIVABLES AND PREPAYMENTS, NET (CONTINUED) The trade and other receivables, net of provision for expected credit losses, are denominated in the following currencies: December 31, 2018 2019 (US$ in millions) HK$ $ 341 $ 386 US$ 57 52 MOP 29 18 $ 427 $ 456 (a) Trade receivables, net The aging analysis of trade receivables, net of provision for expected credit losses, is as follows: December 31, 2018 2019 (US$ in millions) 0 - 30 days $ 236 $ 259 31 - 60 days 39 42 61 - 90 days 28 26 Over 90 days 64 73 $ 367 $ 400 The carrying values of trade receivables approximate their fair values at each balance sheet date. The maximum exposure to credit risk is the fair values of trade receivables at each balance sheet date. Trade receivables are comprised of casino, mall and hotel receivables. The Group extends credit to approved customers and gaming promoters following background checks and investigations of creditworthiness. Business or economic conditions, the legal enforceability of gaming debts, or other significant events in foreign countries could affect the collectability of receivables from customers and gaming promoters residing in these countries. Trade receivables mainly consist of casino receivables. Credit is granted to certain gaming promoters on a revolving basis. All gaming promoter credit lines are generally subject to monthly review and regular settlement procedures to evaluate the current status of liquidity and financial health of these gaming promoters. Credit is granted based on the performance and financial background of the gaming promoter and, if applicable, the gaming promoter’s guarantor(s). Absent special approval, the credit period granted to selected premium and mass market players is typically 7–15 days, while for gaming promoters, the receivable is typically repayable within one month following the granting of the credit, subject to terms of the relevant credit agreement. The Group generally does not charge interest for credit granted, but requires a personal check or other acceptable forms of security. 18. TRADE AND OTHER RECEIVABLES AND PREPAYMENTS, NET (CONTINUED) (a) Trade receivables, net (continued) The Group maintains a provision for expected credit losses on casino, mall and hotel receivables and regularly evaluates the balances. The Group specifically analyzes the collectability of each account with a significant balance, based upon the aging of the account, the customer’s financial condition, collection history and any other known information, and the Group makes an allowance for trade receivables. The Group also monitors regional and global economic conditions and forecasts in its evaluation of the adequacy of the recorded provisions. Table games play is primarily cash play, as credit play represented approximately 15.3% and 14.7% of total table games play for the years ended December 31, 2018 and 2019, respectively. The credit extended to gaming promoters and premium players can be offset by the commissions payable to and front money deposited by these gaming promoters, which is considered in the establishment of the provision for expected credit losses. The Group currently has a legally enforceable right to offset the commissions payable and front money deposits against the casino receivables and intends to settle on a net basis. As at December 31, 2018 and 2019, a gross amount of casino receivables after provision for expected credit losses of US$442 million and US$374 million, respectively, was offset by commissions payable and front money deposits in an aggregate amount of US$191 million and US$78 million, respectively, resulting in net amounts of casino receivables after provision for expected credit losses of US$251 million and US$296 million, respectively. There is a concentration of credit risk related to net casino receivables as 33.3% and 41.9% of the casino receivables as at December 31, 2018 and 2019, respectively, were from the top five customers. Other than casino receivables, there is no other concentration of credit risk with respect to trade receivables as the Group has a large number of customers. The Group believes the concentration of its credit risk in casino receivables is mitigated substantially by its credit evaluation process, credit policies, credit control and collection procedures, and also believes that there are no significant credit risk inherent in the Group’s trade receivables that has not been provided for as at December 31, 2018 and 2019. As at December 31, 2018 and 2019, included in the Group’s trade receivables balance are debtors with aggregate carrying amount of US$247 million and US$288 million, respectively, which are past due as at the reporting date. The Directors of the Company are in the view there have been no significant increase in credit risk nor default because these relate to a number of independent customers that are either active and or have a good track record and established creditworthiness with the Group. As at December 31, 2018 and 2019, except for credit impaired balances and outstanding significant balances with gross amount of US$167 million and US$120 million, respectively, that have been assessed individually, as part of the Group’s credit risk management, the Group uses debtors’ aging to assess the impairment for its customers because these remaining customers consist of a large number of small customers with common risk characteristics representative of the customers’ abilities to pay all amounts due in accordance with the contractual terms. 18. TRADE AND OTHER RECEIVABLES AND PREPAYMENTS, NET (CONTINUED) (a) Trade receivables, net (continued) The following table provides information about the exposure to credit risk for trade receivables which are assessed based on provision matrix as at December 31, 2018 and 2019 within lifetime ECL. December 31, 2018 2019 Provision matrix – debtors' aging Average loss rate (US$ in millions) Current (not past due) — $ 86 $ 169 1-90 days past due 2% - 10% 102 97 91-360 days past due 15% - 25% 56 62 More than 360 days past due 50% - 100% 50 58 $ 294 $ 386 The average loss rates are estimated based on historical observed default rates over the expected life of the receivable balance and are adjusted for forward-looking information available without undue cost or effort. The grouping is regularly reviewed by management to ensure relevant information about specific debtors is updated. The following table shows the movement in lifetime ECL that has been recognized for trade receivables under the simplified approach. December 31, 2018 2019 (US$ in millions) At beginning of year $ 111 $ 94 Provision for expected credit losses, net 7 24 Amounts written-off (24) (13) Exchange difference — 1 At end of year $ 94 $ 106 (b) Other receivables and deferred rent The carrying values of other receivables approximate their fair values at each balance sheet date, which also represent the Group’s maximum exposure to credit risk as at December 31, 2018 and 2019. The Group holds security deposits, bank guarantees and letters of credit for certain other receivables and deferred rent. Impairment charges of US$2 million and nil related to deferred rent were recorded for the years ended December 31, 2018 and 2019, respectively, and included in “Other expenses, gains and losses” in the consolidated income statement. Amounts are charged to the provision account and generally written off when the recoverability is remote.

Cash and Cash Equivalents

Cash and Cash Equivalents	12 Months Ended
Cash and Cash Equivalents	Dec. 31, 2019
Cash and cash equivalents [abstract]
Cash and Cash Equivalents	CASH AND CASH EQUIVALENTS December 31, 2018 2019 (US$ in millions) Cash at bank and on hand $ 503 $ 585 Short-term bank deposits 2,173 1,886 $ 2,676 $ 2,471 The cash and cash equivalents are denominated in the following currencies: December 31, 2018 2019 (US$ in millions) HK$ $ 1,497 $ 1,712 US$ 1,066 639 MOP 82 82 Singapore dollar 10 15 Japanese Yen 13 14 RMB 8 9 $ 2,676 $ 2,471 As at December 31, 2018 and 2019, the effective interest rates on short-term bank deposits ranged from 1.4% to 3.1% and 2.3% to 2.9%, respectively, per annum. These deposits have maturities ranging from 8 to 88 days and 12 to 61 days, respectively. The carrying values of cash equivalents are their fair values as at December 31, 2018 and 2019. The estimated fair value of the Group’s cash and cash equivalents is based on level 1 inputs (quoted market prices in active markets) as at December 31, 2018 and 2019. The maximum credit exposure of cash and cash equivalents of the Group as at December 31, 2018 and 2019 amounted to US$2,494 million and US$2,277 million, respectively.

Share Capital

Share Capital	6 Months Ended	12 Months Ended
Share Capital	Jun. 30, 2020	Dec. 31, 2019
Disclosure of classes of share capital [abstract]
Disclosure of classes of share capital [text block]	SHARE CAPITAL Ordinary shares of US$0.01 each (US$ in millions) Issued and fully paid: At January 1, 2019 (audited) 8,080,603,691 $ 81 Shares issued upon exercise of share options 6,091,900 — At June 30, 2019 (unaudited) 8,086,695,591 81 At January 1, 2020 (audited) 8,088,352,216 81 Shares issued upon exercise of share options 714,900 — At June 30, 2020 (unaudited) 8,089,067,116 $ 81	SHARE CAPITAL Ordinary shares of US$0.01 each (US$ in millions) Authorized At January 1, 2017, December 31, 2017, December 31, 2018 and December 31, 2019 16,000,000,000 $ 160 Issued and fully paid At January 1, 2017 8,071,130,245 $ 81 Shares issued upon exercise of share options 3,287,521 — At December 31, 2017 8,074,417,766 81 Shares issued upon exercise of share options 6,185,925 — At December 31, 2018 8,080,603,691 81 Shares issued upon exercise of share options 7,748,525 — At December 31, 2019 8,088,352,216 $ 81

Reserves

Reserves	12 Months Ended
Reserves	Dec. 31, 2019
Disclosure of reserves within equity [abstract]
Disclosure of reserves within equity [text block]	RESERVES The amount of the Group’s reserves and the movements therein for the years ended December 31, 2017, 2018 and 2019 are set out in the consolidated statement of changes in equity. (a) Capital reserve The capital reserve represents the combined share premium of Venetian Venture Development Intermediate Limited (“VVDIL”) and Cotai Services (HK) Limited. (b) Statutory reserve The statutory reserve represents amounts set aside from the income statement that are not distributable to Shareholders/quotaholders of the group companies incorporated. The Macao Commercial Code #432 requires that companies incorporated in Macao that are limited by shares should set aside a minimum of 10% of the company’s profit after taxation to the statutory reserve until the balance of the reserve reaches a level equivalent to 25% of the company’s capital. For companies incorporated in Macao that are limited by quotas, the Macao Commercial Code #377 requires that a company should set aside a minimum of 25% of the company’s profit after taxation to the statutory reserve until the balance of the reserve reaches a level equivalent to 50% of the company’s capital.

Trade and Other Payables

Trade and Other Payables	6 Months Ended	12 Months Ended
Trade and Other Payables	Jun. 30, 2020	Dec. 31, 2019
Trade and other payables [abstract]
Trade and other payables	TRADE AND OTHER PAYABLES June 30, December 31, 2020 2019 (US$ in millions) Notes (Unaudited) (Audited) Trade payables $ 22 $ 47 Customer deposits and other deferred revenue (i) 421 395 Outstanding chips liability (i) 382 485 Construction payables and accruals 283 278 Interest payables 138 130 Accrued employee benefit expenses 96 174 Other tax payables 31 302 Loyalty program liability (i) 30 31 Casino liabilities 24 41 Payables to related companies ― non-trade 14(b) 8 9 Other payables and accruals 54 104 1,489 1,996 Less: non-current portion (119) (122) Current portion $ 1,370 $ 1,874 (i) These balances represent the Group’s main types of liabilities associated with contracts with customers. With the exception of mall deposits, which typically extend beyond a year based on the terms of the lease, these liabilities are generally expected to be recognized as revenue or redeemed for cash within one year of being purchased, earned or deposited. The aging analysis of trade payables based on invoice date is as follows: June 30, December 31, 2020 2019 (US$ in millions) (Unaudited) (Audited) 0–30 days $ 17 $ 33 31–60 days 2 6 61–90 days 1 6 Over 90 days 2 2 $ 22 $ 47	TRADE AND OTHER PAYABLES December 31, Note 2018 2019 (US$ in millions) Trade payables $ 33 $ 47 Outstanding chips liability (i) 4 514 485 Customer deposits and other deferred revenue (i) 4 497 395 Other tax payables 325 302 Construction payables and accruals 147 278 Accrued employee benefit expenses 155 174 Interest payables 125 130 Casino liabilities 67 41 Loyalty program liability (i) 4 33 31 Payables to related companies - non-trade 27(b) 9 9 Other payables and accruals 127 104 2,032 1,996 Less: non-current portion (104) (122) Current portion $ 1,928 $ 1,874 (i) These balances represent the Group’s main types of liabilities associated with contracts with customers. The monetary trade and other payables are denominated in the following currencies: December 31, 2018 2019 (US$ in millions) HK$ $ 997 $ 832 MOP 483 475 US$ 145 137 Other currencies 10 15 $ 1,635 $ 1,459 The aging analysis of trade payables based on invoice date is as follows: December 31, 2018 2019 (US$ in millions) 0-30 days $ 27 $ 33 31-60 days 3 6 61-90 days 2 6 Over 90 days 1 2 $ 33 $ 47

Borrowings

Borrowings	6 Months Ended	12 Months Ended
Borrowings	Jun. 30, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [abstract]
Borrowings	BORROWINGS June 30, December 31, 2020 2019 (US$ in millions) (Unaudited) (Audited) Non-current portion Senior Notes, unsecured $ 7,013 $ 5,535 Lease liabilities 127 128 7,140 5,663 Less: deferred financing costs (86) (74) 7,054 5,589 Current portion Lease liabilities 19 19 Total borrowings $ 7,073 $ 5,608 2018 SCL Credit Facility On March 27, 2020, the Company entered into a waiver and amendment request letter relating to the 2018 SCL Revolving Facility with the lenders' agent (acting on behalf of the arrangers and lenders) to (i) waive the financial requirements for the Company to ensure the consolidated leverage ratio does not exceed 4.00x and the consolidated interest coverage ratio is greater than 2.50x from January 1, 2020 to July 1, 2021 (the “Relevant Period”); (ii) waive any default that may arise as a result of any breach of the financial requirements above during the Relevant Period; and (iii) extend the date by which the Company may supply the agent with its audited annual financial statements for the 2019 and 2020 financial years to April 30, 2020 and April 30, 2021 respectively. Pursuant to the waiver and amendment request letter, the Company agreed to pay a customary fee to the lenders that consented. As at June 30, 2020, the Group had US$2.02 billion (as at December 31, 2019: US$2.0 billion) of available borrowing capacity under the 2018 SCL Revolving Facility. Senior Notes On August 9, 2018, the Company issued, in a private offering, three series of senior unsecured notes in an aggregate principal amount of US$5.50 billion, consisting of US$1.80 billion of 4.600% Senior Notes due August 8, 2023 (the “2023 Notes”), US$1.80 billion of 5.125% Senior Notes due August 8, 2025 (the “2025 Notes”), and US$1.90 billion of 5.400% Senior Notes due August 8, 2028 (the “2028 Notes”). On June 4, 2020, the Company issued, in a private offering, two series of senior unsecured notes in an aggregate principal amount of US$1.50 billion, consisting of US$800 million of 3.800% Senior Notes due January 8, 2026 (the “2026 Notes”) and US$700 million of 4.375% Senior Notes due June 18, 2030 (the “2030 Notes”, and together with the 2023 Notes, 2025 Notes, 2026 Notes and 2028 Notes, the “Senior Notes”). Original issue discount and deferred financing costs relating to the 2026 Notes and 2030 Notes were US$18 million, resulting in US$1.48 billion of net proceeds for incremental liquidity and general corporate purposes. There are no interim principal payments on the 2026 Notes and 2030 Notes and interest is payable semi-annually in arrears on January 8 and July 8 of each year, beginning on January 8, 2021, with respect to the 2026 Notes, and on June 18 and December 18, commencing on December 18, 2020, with respect to the 2030 Notes. The 2026 Notes and 2030 Notes are senior unsecured obligations of the Company. Each series of notes ranks equally in right of payment with all of the Company's existing and future senior unsecured debt and will rank senior in right of payment to all of the Company’s future subordinated debt, if any. These Senior Notes will be effectively subordinated in right of payment to all of the Company’s future secured debt (to the extent of the value of the collateral securing such debt), and will be structurally subordinated to all of the liabilities of the Company’s subsidiaries. None of the Company’s subsidiaries guarantee these Senior Notes. 12. BORROWINGS (CONTINUED) Senior Notes (continued) The 2026 Notes and 2030 Notes were issued pursuant to an indenture dated June 4, 2020 (the “Indenture”), between the Company and U.S. Bank National Association, as trustee. The Indenture contains covenants, subject to customary exceptions and qualifications, that limit the ability of the Company and its subsidiaries to, among other things, incur liens, enter into sale and leaseback transactions and consolidate, merge, sell or otherwise dispose of all or substantially all of the Company’s assets on a consolidated basis. The Indenture also provides for customary events of default.	BORROWINGS December 31, 2018 2019 (US$ in millions) Non-current portion Senior Notes, unsecured $ 5,515 $ 5,535 Finance lease liabilities on leasehold interests in land 122 — Lease liabilities — 128 Other finance lease liabilities 3 — 5,640 5,663 Less: deferred financing costs (88) (74) 5,552 5,589 Current portion Finance lease liabilities on leasehold interests in land 8 — Lease liabilities — 19 Other finance lease liabilities 2 — 10 19 Total borrowings $ 5,562 $ 5,608 The Group’s borrowings are denominated in the following currencies: December 31, 2018 2019 (US$ in millions) US$ $ 5,427 $ 5,461 MOP 135 130 HK$ — 17 $ 5,562 $ 5,608 The contractual maturities of Senior Notes are as follows: December 31, 2018 2019 (US$ in millions) Repayable over 2 years but not exceeding 5 years $ 1,800 $ 1,800 Repayable over 5 years 3,700 3,700 5,500 5,500 Fair value adjustment of the interest rate swaps 15 35 $ 5,515 $ 5,535 The estimated fair value of the Group’s Senior Notes as at December 31, 2018 and 2019 was approximately US$5.52 billion and US$5.53 billion, respectively. The estimated fair value of the Group’s Senior Notes as at December 31, 2018 and 2019 is based on recent trades, if available, and indicative pricing from market information (level 2 inputs). 23. BORROWINGS (CONTINUED) Senior Notes On August 9, 2018, the Company issued three series of senior unsecured notes in an aggregate principal amount of US$5.50 billion, consisting of US$1.80 billion of 4.600% senior notes due August 8, 2023 (the “2023 Notes”), US$1.80 billion of 5.125% senior notes due August 8, 2025 (the “2025 Notes”) and US$1.90 billion of 5.400% senior notes due August 8, 2028 (the “2028 Notes” and, together with the 2023 Notes and the 2025 Notes, the “Senior Notes”). A portion of the net proceeds from the issuance was used to repay in full the outstanding borrowings under the 2016 VML Credit Facility (defined below). There are no interim principal payments on the Senior Notes and interest is payable semi-annually in arrears on each February 8 and August 8, commencing on February 8, 2019. In connection with the Senior Notes, the Company entered into fixed-to-variable interest rate swap contracts (see Note 24). The Senior Notes are general senior obligations. Each series of Senior Notes rank equally in right of payment with all of the Company’s existing and future senior unsecured debt and rank senior in right of payment to all of the Company’s future subordinated debt, if any. The Senior Notes are effectively subordinated in right of payment to all of the Company’s future secured debt (to the extent of the value of the collateral securing such debt) and are structurally subordinated to all of the liabilities of the Company’s subsidiaries. None of the Company’s subsidiaries guarantee the Senior Notes. The Senior Notes were issued pursuant to an indenture, dated August 9, 2018 (the “Indenture”), between the Company and U.S. Bank National Association, as trustee. Upon the occurrence of certain events described in the Indenture, the interest rate on the Senior Notes may be adjusted. The Indenture contains covenants, subject to customary exceptions and qualifications, that limit the ability of the Company and its subsidiaries to, among other things, incur liens, enter into sale and leaseback transactions and consolidate, merge, sell or otherwise dispose of all or substantially all of the Company’s assets on a consolidated basis. The Indenture also provides for customary events of default. 2018 SCL Credit Facility On November 20, 2018, the Company as borrower, entered into a facility agreement with the arrangers and lenders named therein and Bank of China Limited, Macau Branch, as agent for the lenders, (the “2018 SCL Credit Facility”) pursuant to which the lenders made available a US$2.0 billion revolving unsecured credit facility to the Company (the “2018 SCL Revolving Facility”). The facility is available until July 31, 2023, and the Company may draw loans under the facility, which may consist of general revolving loans (consisting of a United States dollar component and a Hong Kong dollar component) or loans drawn under a swing-line loan sub-facility (denominated in either United States dollars or Hong Kong dollars). The Company may utilize the loans for general corporate purposes and working capital requirements of the Company and its subsidiaries. Loans under the 2018 SCL Revolving Facility bear interest calculated by reference to (1) in the case of general revolving loans denominated in United States dollars, the London Interbank Offered Rate (“LIBOR”), (2) in the case of loans denominated in United States dollars drawn under the swing-line loan sub-facility, a United States dollar alternate base rate (determined by reference to, among other things, the United States dollar prime lending rate and the Federal Funds Effective Rate), (3) in the case of general revolving loans denominated in Hong Kong dollars, the Hong Kong Interbank Offered Rate (“HIBOR”) or (4) in the case of loans denominated in Hong Kong dollars drawn under the swing-line loan sub-facility, a Hong Kong dollar alternate base rate (determined by reference to, among other things, the Hong Kong dollar prime lending rate), in each case, plus a margin determined by reference to the consolidated leverage ratio. The initial margin for general revolving loans is 2.0% per annum and the initial margin for loans drawn under the swing-line loan sub-facility is 1.0% per annum. The Company is also required to pay a commitment fee of 0.60% per annum on the undrawn amounts under the 2018 SCL Revolving Facility. As at December 31, 2018 and 2019, the Company had US$2.0 billion of available borrowing capacity under the 2018 SCL Revolving Facility. 23. BORROWINGS (CONTINUED) 2018 SCL Credit Facility (continued) The 2018 SCL Credit Facility contains affirmative and negative covenants customary for similar unsecured financings, including, but not limited to, limitations on indebtedness secured by liens on principal properties and sale and leaseback transactions. The 2018 SCL Credit Facility also requires the Company to maintain a maximum ratio of total indebtedness to trailing twelve-month adjusted earnings before interest, income taxes, depreciation and amortization, as defined in the 2018 SCL Credit Facility (the “SCL Credit Facility Adjusted EBITDA”) of 4.00x throughout the life of the facility, and a minimum ratio of the SCL Credit Facility Adjusted EBITDA to net interest expense (including capitalized interest) of 2.50x throughout the life of the facility. The 2018 SCL Credit Facility also contains certain events of default (some of which are subject to grace and remedy periods and materiality qualifiers), including, but not limited to, events relating to the Company’s gaming operations and the loss or termination of certain land concession contracts. On March 27, 2020, the Company obtained a waiver and amendment request letter relating to the 2018 SCL Revolving Facility from the agent and lenders party to (i) waive the financial requirements for the Company to ensure the consolidated leverage ratio does not exceed 4.00x and the consolidated interest coverage ratio is greater than 2.50x from January 1, 2020 to July 1, 2021 (“Relevant Period”); (ii) waive any default that may arise as a result of any breach of the financial requirements above during the Relevant Period; and (iii) extend the date by which the Company may supply the agent with its audited annual financial statements for the 2019 and 2020 financial years to April 30, 2020 and April 30, 2021 respectively. Pursuant to the waiver and amendment request letter, the Company agreed to pay a customary fee to the lenders that consented thereto. 2016 VML Credit Facility Two subsidiaries of the Company, VML US Finance LLC, the Borrower, and Venetian Macau Limited (“VML”), as guarantor, entered into a credit agreement (the “2016 VML Credit Facility”), which pursuant to various amendments, provided for a $4.12 billion term loan (the “2016 VML Term Loans”), a $269 million non-extended term loan (the “2016 Non-Extended VML Term Loans”) and a $2.0 billion revolving facility (the “2016 VML Revolving Facility,” and together with the 2016 VML Term Loans and the 2016 Non-Extended VML Term Loans, the “2016 VML Credit Facility”). Borrowings under the 2016 VML Term Loans were used for working capital requirements and general corporate purposes, including to make any investment or payment not specifically prohibited by the terms of the loan documents. The Group paid standby fees of 0.5% per annum on the undrawn amounts under the 2016 VML Revolving Facility. The weighted average interest rate on the 2016 VML Credit Facility for the years ended December 31, 2017 and 2018 was 2.6% and 3.1%, respectively. As previously described, a portion of the proceeds from the Senior Notes was used to repay the outstanding borrowings under the 2016 VML Credit Facility. As a result, the Group recorded a $72 million loss on early retirement of debt during the year ended December 31, 2018. On November 20, 2018, effective as of November 21, 2018, the 2016 VML Credit Facility was terminated. As a result, the Group recorded a $9 million loss on early retirement of debt during year ended December 31, 2018. 23. BORROWINGS (CONTINUED) Reconciliation of liabilities arising from financing activities The table below details changes in the Group’s liabilities arising from financing activities, including both cash and non-cash changes. Liabilities arising from financing activities are those for which cash flows were, or future cash flows will be, classified in the Group’s consolidated statement of cash flows as cash flows from financing activities. Bank loans (i) Finance lease liabilities on leasehold interest in land Other finance lease liabilities Deferred financing costs Interest payables Dividend payables Total (US$ in millions) Balance as at January 1, 2017 $ 4,388 $ 72 $ 8 $ (94) $ 47 $ — $ 4,421 Financing cash flows (19) (2) (3) — (128) (2,067) (2,219) Non-cash changes: Accruals — — — — 134 2,069 2,203 Amortization — — — 21 — — 21 Foreign exchange movement (21) — — — — (2) (23) True-up adjustment — (1) — — — — (1) Adjustment arising from change in lease term of leasehold interests in land — 63 — — (48) — 15 Balance as at December 31, 2017 $ 4,348 $ 132 $ 5 $ (73) $ 5 $ — $ 4,417 Bank loans (i) Senior Notes Finance lease liabilities on leasehold interest in land Other finance lease liabilities Deferred financing costs Interest payables Dividend payables Total (US$ in millions) Balance as at January 1, 2018 $ 4,348 $ — $ 132 $ 5 $ (73) $ 5 $ — $ 4,417 Adjustments arising from adoption of IFRS 9 — — — — (24) — — (24) Restated opening balance 4,348 — 132 5 (97) 5 — 4,393 Financing cash flows (4,337) 5,500 (13) (2) (90) (128) (2,052) (1,122) Non-cash changes: Accruals — — 11 2 (2) 248 2,053 2,312 Amortization — — — — 22 — — 22 Foreign exchange movement (11) — — — — — (1) (12) Loss on modification or early retirement of debt — — — — 79 — — 79 Fair value adjustment of the interest rate swaps — 15 — — — — — 15 Balance as at December 31, 2018 $ — $ 5,515 $ 130 $ 5 $ (88) $ 125 $ — $ 5,687 Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019. (i) The cash flows from bank loans make up the net amount of proceeds from bank loans and repayments of bank loans in the statement of cash flows. 23. BORROWINGS (CONTINUED) Reconciliation of liabilities arising from financing activities (continued) Senior Notes Lease liabilities Deferred financing costs Interest payables Dividend payables Total (US$ in millions) Balance as at January 1, 2019 $ 5,515 $ 135 $ (88) $ 125 $ — $ 5,687 Adjustments arising from adoption of IFRS 16 — 6 — — — 6 Restated opening balance 5,515 141 (88) 125 — 5,693 Financing cash flows — (13) (2) (274) (2,051) (2,340) Non-cash changes: Interest rate swap interest income unsettled — — — 5 — 5 Accruals — 19 1 274 2,054 2,348 Amortization — — 15 — — 15 Foreign exchange movement — — — — (3) (3) Fair value adjustment of the interest rate swaps 20 — — — — 20 Balance as at December 31, 2019 $ 5,535 $ 147 $ (74) $ 130 $ — $ 5,738

Derivative Financial instrument

Derivative Financial instruments	12 Months Ended
Derivative Financial instruments	Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract]
Disclosure of derivative financial instruments [text block]	DERIVATIVE FINANCIAL INSTRUMENTS Accounting standards require an entity to recognize all derivatives as either assets or liabilities on the balance sheet and measure those instruments at fair value. If specific conditions are met, a derivative may be designated as a hedge of specific financial exposures. The accounting for changes in fair value of a derivative depends on the intended use of the derivative and, if used in hedging activities, on its effectiveness as a hedge. In order to qualify for hedge accounting, the underlying hedged item must expose the Group to risks associated with market fluctuations and the financial instrument used must be designated as a hedge and reduce the Group’s exposure to market fluctuation throughout the hedge period. Changes in market rates and prices, such as interest rates, foreign currency exchange rates and commodity prices, can impact the Group’s results of operations. The Group’s primary exposures to market risk are interest rate risk associated with long-term debt and foreign currency exchange rate risk associated with the Group’s operations. The Group has a policy aimed at managing interest rate risk associated with its current and anticipated future borrowings and foreign currency exchange rate risk associated with operations of its foreign subsidiaries. This policy enables the Group to use any combination of interest rate swaps, futures, options, caps, forward contracts and similar instruments. The Group does not hold or issue financial instruments for trading purposes and does not enter into derivative transactions that would be considered speculative positions. In August 2018, the Group entered into interest rate swap agreements (the “IR Swaps”), which were qualified and designated as fair value hedges, swapping fixed-rate for variable-rate interest to hedge changes in the fair value of interest payments. These IR Swaps have a total notional value of US$5.50 billion and expire in August 2020. The total fair value of the IR Swaps as of December 31, 2018 and 2019 was US$56 million and US$82 million, respectively. In the accompanying consolidated balance sheet, US$15 million was recorded as an asset in “Other assets, net” non-current as of December 31, 2018, and US$35 million was recorded as an asset in “Other assets, net” current as of December 31, 2019 with an equal corresponding adjustment recorded against the carrying value of the Senior Notes. The realized portion of IR Swaps of US$41 million and US$47 million as of December 31, 2018 and 2019, respectively, was recorded as interest receivables in “Trade and other receivables and prepayments, net.” The fair value of the IR Swaps was estimated using level 2 inputs from recently reported market forecasts of interest rates. Gains and losses due to changes in fair value of the IR Swaps completely offset changes in the fair value of the hedged portion of the underlying debt; therefore, no gain or loss has been recognized due to hedge ineffectiveness. Additionally, for the years ended December 31, 2018 and 2019, the Group recorded US$9 million and US$23 million, respectively, as a reduction to interest expense related to the realized amount associated with the IR Swaps.

Note to Consolidated Statement

Note to Consolidated Statement of Cash Flows	12 Months Ended
Note to Consolidated Statement of Cash Flows	Dec. 31, 2019
Statement of cash flows [abstract]
Disclosure of cash flow statement [text block]	NOTE TO CONSOLIDATED STATEMENT OF CASH FLOWS Cash generated from operations is as follows: Year ended December 31, 2017 2018 2019 (US$ in millions) Profit before income tax $ 1,625 $ 1,868 $ 2,033 Adjustments for: Interest income (5) (20) (38) Interest and other finance costs 132 203 265 Depreciation and amortization 676 655 706 Amortization of deferred financing costs 21 22 15 Amortization of deferred rent 15 15 13 Amortization of other assets 3 3 3 Loss on disposal of property and equipment, investment properties and intangible assets 12 131 16 Impairment loss on property and equipment — — 65 Loss on modification or early retirement of debt — 81 — Provision for doubtful accounts, net 4 — — Provision for expected credit losses, net — 9 24 Equity-settled share-based compensation expense, net of amounts capitalized 12 13 13 Net foreign exchange losses (gains) 11 (5) (34) Changes in working capital: Other assets (1) (1) (5) Inventories (1) 1 (2) Trade and other receivables and prepayments 37 (180) (65) Trade and other payables 91 260 (191) Cash generated from operations $ 2,632 $ 3,055 $ 2,818

Related Party Transactions

Related Party Transactions	6 Months Ended	12 Months Ended
Related Party Transactions	Jun. 30, 2020	Dec. 31, 2019
Disclosure of transactions between related parties [abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS There has been no significant changes to the arrangements of related party transactions during the six months ended June 30, 2020. Refer to 2019 annual report for details on the arrangements. The Group had the following significant transactions with related parties during the period: (a) Transactions during the period (i) Management fee income and expenses During the six months ended June 30, 2020, management fee income from fellow subsidiaries was US$2 million (six months ended June 30, 2019: US$2 million). During the six months ended June 30, 2020, management fee expenses incurred from services provided by LVS and fellow subsidiaries were US$7 million and US$2 million, respectively (six months ended June 30, 2019: US$9 million and US$3 million, respectively). (ii) Key management personnel remuneration During the six months ended June 30, 2020, the aggregate amount of emoluments paid or payable by the Group to the Directors and key management personnel of the Company was US$3 million (six months ended June 30, 2019: US$3 million). In addition, Sheldon Gary Adelson and Robert Glen Goldstein received compensation (inclusive of share-based compensation) in both periods from LVS in respect of their services to LVS and its subsidiaries (including our Group). US$1 million (six months ended June 30, 2019: US$2 million) was charged by LVS to the Group in respect of such management and administrative services of Robert Glen Goldstein provided to the Group for the six months ended June 30, 2020. Save as disclosed above, no other transactions have been entered into with the Directors of the Company during the six months ended June 30, 2020 and the six months ended June 30, 2019. 14. RELATED PARTY TRANSACTIONS (CONTINUED) (a) Transactions during the period (continued) (iii) Royalty fees During the six months ended June 30, 2020, the Group incurred US$11 million (six months ended June 30, 2019: US$56 million) of royalty fees under the agreement with Las Vegas Sands, LLC in November 2009. (b) Period-end balances between the Group and related companies June 30, December 31, 2020 2019 (US$ in millions) Notes (Unaudited) (Audited) Receivables from related companies: Fellow subsidiaries $ — $ 2 Payables to related companies: LVS 8 3 Intermediate holding company — 5 Fellow subsidiaries — 1 11 $ 8 $ 9 The payables to related companies are unsecured, interest-free and has a credit period of 45 days. As of December 31, 2019, the receivables to related companies were unsecured, interest-free and had a credit period of 45 days.	RELATED PARTY TRANSACTIONS For the purposes of these consolidated financial statements, parties are considered to be related to the Group if the party has the ability, directly or indirectly, to exercise significant influence over the Group in making financial and operating decisions, or vice versa. Related parties may be individuals (being members of key management personnel, significant Shareholders and/or their close family members) or other entities, and include entities which are under the significant influence of related parties of the Group where those parties are individuals. The Group’s immediate holding company is VVDI (II). LVS is the Group’s ultimate holding company. Related companies represent the group companies of the LVS Group. Save as disclosed elsewhere in the consolidated financial statements, the Group had the following transactions with related parties during the year: (a) Transactions during the year (i) Management fee income Year ended December 31, 2017 2018 2019 (US$ in millions) LVS $ 1 $ 1 $ — Intermediate holding companies 1 — — Fellow subsidiaries 3 4 5 $ 5 $ 5 $ 5 Management services are provided by the Group to LVS Group companies. These services include, but are not limited to, accounting services, information technology support, sourcing of goods and services, and design, development and construction consultancy services. Management fees are charged at actual costs incurred or on a cost-plus basis. 27. RELATED PARTY TRANSACTIONS (CONTINUED) (a) Transactions during the year (continued) (ii) Management fee expense Year ended December 31, 2017 2018 2019 (US$ in millions) LVS $ 14 $ 20 $ 19 Fellow subsidiaries 6 7 7 $ 20 $ 27 $ 26 Management services are provided by LVS Group companies. These services include, but are not limited to, human resources support, accounting services, sourcing of goods and services, sourcing of tenants for the malls, transportation services, other various types of marketing and promotion activities for the Group, and design, development and construction consultancy services. Management fees are charged at actual costs incurred or on a cost-plus basis. (iii) Expenses billed to/paid by other LVS group companies During the years ended December 31, 2017, 2018 and 2019, the Group incurred certain expenses on behalf of other LVS group companies, or vice versa. The Group charged/reimbursed other LVS group companies for these expenses at cost. (iv) Key management personnel remuneration No transactions have been entered into with the Directors of the Company (being the key management personnel) during the years ended December 31, 2017, 2018 and 2019 other than the emoluments paid to them (being the key management personnel remuneration) as disclosed in Note 6. (v) Royalty fees In November 2009, the Group entered into an agreement with Las Vegas Sands, LLC (“LVS LLC”), an intermediate holding company incorporated in the United States of America, for the use of the trademarks and other intellectual property rights as defined in the agreement. For each of the full fiscal years through the full fiscal year ended December 31, 2012, the Group was required to pay LVS LLC an annual royalty in the amount of 1.5% of non-gaming revenue and Paiza-related gaming revenue of the Sands Macao, 1.5% of all revenue of The Venetian Macao, and 1.5% of all gaming revenue of the Plaza Casino at The Plaza Macao (the “Relevant Royalty”), provided that the total royalty payable in connection with these three properties in each fiscal year was capped at US$20 million per full fiscal year. For each of the subsequent full fiscal years through the full fiscal year ending December 31, 2022, the Group is required to pay an annual royalty being the lesser of the Relevant Royalty or the annual caps reflecting an increase of 20.0% for each subsequent year. Each subsequent Casino Gaming property the Group operates which utilizes any of the licensed marks in connection with generating the relevant revenue will pay for each of the first three fiscal calendar years after commencement of operations of each subsequent property, a royalty fee of 1.5% of the respective gross revenues of the operations in connection with which such licensed marks are used (each, the “Subsequent Casino Gaming Property Royalty”), subject to a US$20 million cap per fiscal year. For the fiscal calendar years thereafter until expiration of the initial term, the Group will pay LVS LLC an annual royalty being the lesser of the Subsequent Casino Gaming Property Royalty or the annual caps reflecting an increase of 20.0% for each subsequent year. After the commencement of the operation of Sands Cotai Central and The Parisian Macao in April 2012 and September 2016 respectively, the Group is required to pay royalty fees in connection with these properties. During the years ended December 31, 2017, 2018 and 2019, the Group incurred US$98 million, US$106 million and US$110 million of royalty fees, respectively. 27. RELATED PARTY TRANSACTIONS (CONTINUED) (a) Transactions during the year (continued) (vi) Share-based compensation The Group participates in the share-based compensation plan of LVS (Notes 6 and 28). (b) Year-end balances between the Group and related companies December 31, 2018 2019 (US$ in millions) Receivables from related companies: Fellow subsidiary $ — $ 2 The receivables from related companies are unsecured, interest free and have a credit term of 45 days. December 31, 2018 2019 Note (US$ in millions) Payables to related companies: LVS $ 4 $ 3 Intermediate holding company 4 5 Fellow subsidiaries 1 1 22 $ 9 $ 9 The payables to related companies are unsecured, interest free and have a credit term of 45 days.

Share-Based Compensation

Share-Based Compensation	12 Months Ended
Share-Based Compensation	Dec. 31, 2019
Disclosure of share-based payment arrangements [Abstract]
Disclosure of share-based payment arrangements	SHARE-BASED COMPENSATION (a) Share Options of the Company 2009 Equity Award Plan The Company adopted the 2009 Equity Award Plan on November 8, 2009 (amended on February 19, 2016) for grants of options to purchase Shares. The purpose of the 2009 Equity Award Plan was to give the Company a competitive edge in attracting, retaining and motivating employees, directors and consultants of our Group. The 2009 Equity Award Plan provided for an aggregate of 804,786,508 Shares to be available for awards, representing 10% of the Shares in issue upon completion of the Global Offering. The Company’s Remuneration Committee might, from time to time, grant awards of share options, share appreciation rights, restricted shares, restricted share units, share bonuses (“Share-based Awards”), performance compensation awards or any combination of the foregoing pursuant to the 2009 Equity Award Plan. Subject to certain criteria as defined in the 2009 Equity Award Plan, employees, directors and consultants of our Group were eligible for awards under the 2009 Equity Award Plan. The 2009 Equity Award Plan expired on November 30, 2019, being the tenth anniversary of November 30, 2009. On and after November 30, 2019, no awards may be granted under the 2009 Equity Award Plan. However, all existing awards granted under the 2009 Equity Award Plan which are unexercised or unvested will remain valid and (where applicable) exercisable in accordance with their respective terms of grant despite the expiry of the 2009 Equity Award Plan. 28. SHARE-BASED COMPENSATION (CONTINUED) (a) Share Options of the Company (continued) 2019 Equity Award Plan The 2019 Equity Award Plan was approved by the Shareholders at the Company’s annual general meeting held on May 24, 2019, and became effective on December 1, 2019. There is no material difference between the terms of the 2009 Equity Award Plan and the terms of the 2019 Equity Award Plan. Accordingly, the 2019 Equity Award Plan will have the same benefits as the 2009 Equity Award Plan, namely attracting able persons to enter and remain in the employ of our Group. It will also provide a means whereby employees, directors and consultants of our Group can acquire and maintain Share ownership, or be paid incentive compensation measured by reference to the value of Shares, thereby strengthening their commitment to the welfare of our Group and promoting an identity of interest between Shareholders and these persons. The maximum number of Shares that may be issued upon exercise of all Share-based Awards (including options) under which new Shares will be issued to be granted under the 2019 Equity Award Plan and similar share-based awards under any other award plans of the Company (under which new Shares will be issued pursuant to any grant) must not in aggregate exceed 808,619,139 Shares, representing 10% of the total number of Shares in issue as at May 24, 2019, being the date of Shareholders’ approval of the 2019 Equity Award Plan. As at December 31, 2019, there were 808,619,139 Shares available for grant under the 2019 Equity Award Plan and no Share-based Awards (including options) under which new Shares will be issued were granted during the year under the 2019 Equity Award Plan. Fair value estimates of the share options Share options under both the 2009 Equity Award Plan and 2019 Equity Award Plan were granted with an exercise price not less than the highest of (i) the official closing price of the Shares as stated in the daily quotation sheet of the Stock Exchange on the date of grant, which must be a business day, (ii) the average of the official closing price of the Shares as stated in the daily quotation sheets of the Stock Exchange for the five business days immediately preceding the date of grant and (iii) the nominal value of a Share. The outstanding share options generally vest over four years and have ten-year contractual terms. Compensation cost for all share option grants, which all have graded vesting, is net of estimated forfeitures and is recognized on an accelerated granted attribution approach over the awards’ respective requisite service periods. The Company estimates the fair value of share options using the Black-Scholes option-pricing model. Expected volatilities are based on the Company’s historical volatility for a period equal to the expected life of the share options. The expected option life is based on the contractual term of the option as well as historical exercise and forfeiture behavior. The risk-free interest rate for periods equal to the expected term of the share option is based on the Hong Kong government Bond rate in effect at the time of the grant for share options granted. The expected dividend yield is based on the estimate of annual dividends expected to be paid at the time of the grant. The Group has no legal or constructive obligation to repurchase or settle the options in cash. 28. SHARE-BASED COMPENSATION (CONTINUED) (a) Share option of the Company (continued) A summary of the share option activity for the Company’s 2009 Equity Award Plan is presented below: Year Ended December 31, 2017 2018 2019 Number of options Weighted average exercise price (US$) Number of options Weighted average exercise price (US$) Number of options Weighted average exercise price (US$) Outstanding at January 1 38,185 $ 4.48 48,252 $ 4.39 57,382 $ 4.81 Granted 17,364 4.23 18,873 5.62 19,410 5.08 Exercised (3,287) 3.61 (6,186) 3.74 (7,749) 3.65 Forfeited (4,010) 5.20 (3,557) 5.24 (4,169) 5.35 Outstanding at December 31 48,252 4.39 57,382 4.81 64,874 4.99 Exercisable at December 31 14,608 $ 5.02 18,152 $ 5.00 22,214 $ 5.10 The weighted average share price at the date of exercise for share options exercised during the years ended December 31, 2017, 2018 and 2019 was US$4.74, US$5.72 and US$5.26, respectively. The range of exercise prices and the weighted average remaining contractual life of the above share options outstanding as at the dates indicated are as follows: December 31, 2017 2018 2019 Range of exercise prices Number of options outstanding Weighted average remaining contractual life Number of options outstanding Weighted average remaining contractual life Number of options outstanding Weighted average remaining contractual life 1.01 - 2.00 893 2.30 811 1.29 210 0.42 2.01 - 3.00 470 3.74 283 2.80 76 1.86 3.01 - 4.00 19,311 7.79 14,805 6.94 11,045 5.88 4.01 - 5.00 20,108 8.76 18,673 8.00 16,092 7.41 5.01 - 6.00 592 5.82 15,991 9.01 31,292 8.65 6.01 - 7.00 1,868 6.56 2,227 7.26 2,023 6.42 7.01 - 8.00 2,972 6.28 2,554 5.29 2,098 4.32 8.01 - 9.00 2,038 6.21 2,038 5.21 2,038 4.21 48,252 7.82 57,382 7.64 64,874 7.49 28. SHARE-BASED COMPENSATION (CONTINUED) (a) Share option of the Company (continued) Fair value estimates of the share options under 2009 Equity Award Plan The fair value of each option grant was estimated on the grant date using the Black-Scholes option-pricing model with the following weighted average assumptions: Year ended December 31, 2017 2018 2019 Expected volatility 36.9 % 36.0 % 36.9 % Expected life (years) 4.4 4.7 4.8 Risk-free annual interest rate 1.3 % 1.7 % 1.7 % Expected dividends 6.6 % 5.8 % 5.0 % Weighted average share price at the date of grant (US$) 4.23 5.58 5.06 Weighted average exercise price (US$) 4.23 5.62 5.08 Weighted average fair value of each share option granted by the Company (US$) 0.71 1.01 1.03 (b) Restricted share units of the Company Under the 2009 Equity Award Plan, the grant date fair value of restricted share units is the share price of the ordinary shares of the Company at the respective grant date. The number of unvested equity-settled restricted share units represents the number of ordinary shares of the Company to be given to the employees upon vesting. As a result of the Company cash-settling and planning to cash-settle certain future unvested restricted share units on their vesting dates, 852,000 outstanding restricted share units under the 2009 Equity Award Plan were modified from equity awards to cash-settled liability awards during the year ended December 31, 2017. The modification affected four employees and resulted in no additional compensation expense. All cash-settled restricted share units have been vested during the year ended December 31, 2018. Summaries of the unvested restricted share units under the 2009 Equity Award Plan are presented below: Year Ended December 31, 2017 2018 Number of restricted share units Weighted average grant date fair value Number of restricted Weighted average grant date fair value Equity-settled Unvested at January 1 852 $ 7.51 — $ — Modified to cash-settled (852) 7.51 — — Unvested at December 31 — $ — — $ — 28. SHARE-BASED COMPENSATION (CONTINUED) (b) Restricted share units of the Company (continued) Year Ended December 31, 2017 2018 Number of restricted Weighted average grant date fair value Number of restricted Weighted average grant date fair value Cash-settled Unvested at January 1 236 $ 7.13 852 $ 7.51 Modified from equity-settled 852 7.51 — — Vested (236) 7.13 (852) 7.51 Unvested at December 31 852 $ 7.51 — $ — The fair value of each restricted share unit on its grant date is the closing price of the Shares on its grant date. The fair value of each restricted share unit is re-measured at the end of each reporting period until its vesting date. Upon vesting of each restricted share unit, the Group will pay the grantees an amount in cash calculated based on the higher of (i) the closing price of the Company’s shares on the vesting date, and (ii) the average closing price of the Company’s shares for the five trading days immediately preceding the vesting date. If the vesting date is not a trading day, the trading day immediately preceding the vesting date shall be considered as the vesting date. All cash-settled restricted share units have been vested during the year ended December 31, 2018. During the years ended December 31, 2017 and 2018, the Company paid US$3 million and US$5 million, respectively, to settle vested restricted share units that were previously classified as equity awards. As at December 31, 2017, the accrued liability associated with these cash-settled restricted share units was US$4 million. For the years ended December 31, 2017 and 2018, no fair value gain or loss on remeasurement of the liability was recognized in the consolidated financial statements. In 2019, the Company grants certain restricted share units (under which no new Shares will be issued) to eligible participants under the 2009 Equity Award Plan. Such restricted share units will vest over a 3-year period starting from September 13, 2019. Grantees are entitled to a future cash payment from our Group that is equivalent to the fair value of the vested restricted share units and any accumulated dividends in cash upon vesting. A summary of the restricted share units under the 2009 Equity Award Plan for the year ended December 31, 2019 is presented below: Number of restricted Weighted average grant date fair value Unvested at January 1, 2019 — $ — Granted 1,412 4.99 Vested — — Forfeited (5) 4.99 Unvested at December 31, 2019 1,407 $ 4.99 28. SHARE-BASED COMPENSATION (CONTINUED) (b) Restricted share units of the Company (continued) The fair value of each restricted share unit on its grant date is the closing price of the Shares on its grant date. The fair value of each restricted share unit is re-measured at the end of each reporting period until its vesting date. Upon vesting of each restricted share unit, the Group will pay the grantees an amount in cash calculated based on the higher of (i) the closing price of the Company’s shares on the vesting date, and (ii) the average closing price of the Company’s shares for the five trading days immediately preceding the vesting date, in addition to any accumulated cash and dividends equivalents paid by the Company in respect of one Share. If the vesting date is not a trading day, the trading day immediately preceding the vesting date shall be considered as the vesting date. Compensation cost for all restricted share units, which all have graded vesting, is recognized on an accelerated granted attribution approach over the restricted share units’ respective requisite service periods. As at December 31, 2019, the accrued liability associated with these cash-settled restricted share units was US$1 million. For the year ended December 31, 2019, the loss on re-measurement of the liability was less than US$1 million. (c) Share options of LVS The Group participates in the equity-settled share-based compensation plan of LVS which provides for the granting of share options to purchase LVS common stock (the “2004 Plan”). The 2004 Plan had an original term of ten years and was subsequently extended to December 2019. This was further extended to December 2024 and the number of shares of common stock available for grants was increased by 10,000,000 shares from 26,344,000 (the “Amended 2004 Plan”). Share option awards are granted with an exercise price equal to the fair market value (as defined in the Amended 2004 Plan) of LVS’ share on the date of grant. The outstanding share options generally vest over three to four years and have ten-year contractual terms. As at December 31, 2019, there were 9,777,920 shares available for grant under the Amended 2004 Plan. For the purpose of financial reporting of the Group, share-based compensation expense arising from the granting of share options by LVS to the Directors and employees of the Group, to the extent of services rendered to the Group, is deemed to have been allocated to the Group as its expense with the corresponding increase in the share option reserve under equity in the relevant companies comprising the Group. A summary of the share option activity for the 2004 Plan operated by LVS is presented below: Year Ended December 31, 2017 2018 2019 Number of options Weighted average exercise price (US$) Number of options Weighted average exercise price (US$) Number of options Weighted average exercise price (US$) Outstanding at January 1 357 71.20 198 72.83 57 69.00 Granted 34 63.13 23 77.44 42 57.05 Exercised (34) 51.09 (62) 66.18 — — Transfer-out (i) (12) 22.90 — — — — Expired (147) 75.93 (102) 80.08 — — Outstanding at December 31 198 72.83 57 69.00 99 63.97 Exercisable at December 31 164 74.83 11 63.13 30 66.82 (i) Transfer-in and transfer-out represent movement of options owned by grantees who transferred from other subsidiaries of LVS to the Group, or vice versa. 28. SHARE-BASED COMPENSATION (CONTINUED) (c) Share options of LVS (continued) The related weighted average share price at the time of exercise during the years ended December 31, 2017 and 2018 was US$69.08 and US$77.66, respectively. The expense allocated to the Group in relation to the Amended 2004 Plan during the years ended December 31, 2017, 2018 and 2019 was US$0.6 million, US$0.3 million and US$0.3 million, respectively.

Fair Value and Fair Value Hiera

Fair Value and Fair Value Hierarchy of Financial Instruments	6 Months Ended	12 Months Ended
	Jun. 30, 2020	Dec. 31, 2019
Disclosure of financial liabilities [abstract]
Fair value and fair value hierarchy of financial instruments	FAIR VALUE AND FAIR VALUE HIERARCHY OF FINANCIAL INSTRUMENTS The carrying values of cash and cash equivalents, restricted cash and cash equivalents, trade and other receivables and trade and other payables approximate their fair values at each balance sheet date. The estimated fair value of the Group’s Senior Notes as at June 30, 2020 was approximately US$7.49 billion (as at December 31, 2019: US$5.53 billion), which was based on level 2 inputs (quoted prices in markets that are not active) (as at December 31, 2019: same). In August 2018, the Company entered into interest rate swap agreements (the “IR Swaps”), which qualified and were designated as fair value hedges, swapping fixed-rate for variable-rate interest to hedge changes in the fair value of interest payments of Senior Notes issued in August 2018. These IR Swaps have a total notional value of US$5.50 billion and expire in August 2020. The total fair value of the IR Swaps as at June 30, 2020 was US$73 million (as at December 31, 2019: US$82 million). In the accompanying consolidated balance sheet, US$13 million (as at December 31, 2019: US$35 million) was recorded as an asset in “Other assets, net” current with an equal corresponding adjustment recorded against the carrying value of the related Senior Notes issued in August 2018, which adjustment represents the fair value of the additional interest income expected to be received subsequent to June 30, 2020, for the remaining term of the IR Swaps. The remaining US$60 million (as at December 31, 2019: US$47 million) was recorded as a receivable in “Trade and other receivables, net” current. The fair value of the IR Swaps was estimated using level 2 inputs obtained directly from the contractual counterparties and the final rate set was completed in May 2020 and no uncertainty in the outcome of the derivatives remains. As at December 31, 2019, the fair value of the IR Swaps was estimated using level 2 inputs from recently reported market forecasts of interest rates. Gains and losses due to changes in fair value of the IR Swaps completely offset changes in the fair value of the hedged portion of the underlying debt. Additionally, for the six months ended June 30, 2020, the Company recorded a US$40 million (six months ended June 30, 2019: US$5 million) reduction to interest expense related to the realized amount associated with the IR Swaps.	FINANCIAL INSTRUMENTS BY CATEGORY December 31, 2018 2019 Note (US$ in millions) Financial Assets Amortized cost: Trade and other receivables, net 18 $ 427 $ 456 Restricted cash and cash equivalents 13 15 Cash and cash equivalents 19 2,676 2,471 Deposits 3 3 3,119 2,945 FVTPL: Derivative financial instruments 24 15 34 Total $ 3,134 $ 2,979 December 31, 2018 2019 Note (US$ in millions) Financial Liabilities Amortized cost: Trade and other payables 22 $ 1,635 $ 1,459 Borrowings 23 5,562 5,608 Total $ 7,197 $ 7,067

Financial Risk Management

Financial Risk Management	12 Months Ended
Financial Risk Management	Dec. 31, 2019
Disclosure of nature and extent of risks arising from financial instruments [abstract]
Financial Risk Management	FINANCIAL RISK MANAGEMENT (a) Financial risk factors The Group’s activities expose it to a variety of financial risks: market risk, credit risk and liquidity risk. The Group’s overall financial risk management program, mainly carried out by a central treasury department and approved by the Board of Directors, focuses on the unpredictability of financial markets and seeks to minimize potential adverse effects on the Group’s financial performance. (i) Market risk Market risk is the risk of loss arising from adverse changes in market rates and prices, such as interest rates and foreign currency exchange rates. Interest rate risk The Group’s primary exposure to market risk is interest rate risk associated with its variable rate long-term borrowings for the year ended December 31, 2017, and fixed rate long-term borrowings and interest rate swap contracts for the years ended December 31, 2018 and 2019. However, management monitors interest rate exposures and will consider hedging significant interest rate risk should the need arise. The Group does not hold or issue financial instruments for trading purposes and does not enter into derivative transactions that would be considered speculative positions. For the years ended December 31, 2018 and 2019, the Group holds derivative financial instruments which consist of interest rate swap contracts on the fixed rate Senior Notes, which have been designated as hedging instruments for accounting purposes. The Group’s borrowings at variable rates were denominated in US$, HK$ and MOP during the year ended December 31, 2017, and the Group’s borrowings at fixed rates were denominated in US$ during the years ended December 31, 2018 and 2019. As at December 31, 2018 and 2019, the estimated fair value of fixed rate long-term borrowings was approximately US$5.52 billion and US$5.53 billion, respectively, compared to its carrying value of US$5.50 billion and US$5.50 billion, respectively. The estimated fair value of fixed rate long-term borrowings is based on level 2 inputs (quoted prices in markets that are not active). A change in interest rates on fixed rate long-term borrowings impacts its fair value. A hypothetical 100 basis points change in market rates would cause the fair value of the fixed rate long-term borrowings as at December 31, 2018 and 2019 to change by US$308 million and US$303 million, respectively, inclusive of the impact from the interest rate swaps. The total notional amount of our fixed-to-variable interest rate swaps was US$5.50 billion as at December 31, 2018 and 2019. The fair value of the interest rate swaps, on a stand-alone basis, as at December 31, 2018 and 2019, was an asset of US$56 million and US$82 million, respectively. A hypothetical 100 basis points change in LIBOR would cause the fair value of the interest rate swaps as at December 31, 2018 and 2019 to change by approximately US$88 million and US$34 million, respectively. 29. FINANCIAL RISK MANAGEMENT (CONTINUED) (a) Financial risk factors (continued) (i) Market risk (continued) Interest rate risk (continued) As at December 31, 2017, if interest rates on US$-denominated borrowings had been 50 basis-points higher/lower with all other variables held constant, pre-tax profit for the year would have been lower/higher by US$9 million. As at December 31, 2017, if interest rates on HK$-denominated borrowings had been 50 basis-points higher/lower with all other variables held constant, pre-tax profit for the year would have been lower/higher by US$10 million. As at December 31, 2017, if interest rates on MOP-denominated borrowings had been 50 basis-points higher/lower with all other variables held constant, pre-tax profit would have been lower/higher by US$3 million. This analysis does not include the effect of interest capitalized. Foreign exchange risk The Group’s foreign currency transactions are mainly denominated in US$. The majority of assets and liabilities are denominated in US$, HK$ and MOP, and there are no significant assets and liabilities denominated in other currencies. The Group is subject to foreign exchange rate risk arising from future commercial transactions and recognized assets and liabilities denominated in a currency other than MOP, which is the functional currency of the major operating companies within the Group. For companies with MOP as their functional currency, as at December 31, 2017, 2018 and 2019, if the US$ had weakened by 1% against the MOP with all other variables held constant, it would cause a foreign currency transaction loss of approximately US$15 million, US$40 million and US$49 million, respectively, mainly as a result of the translation of US$-denominated intercompany debt held as at December 31, 2017, and the translation of US$-denominated debt held by SCL as at December 31, 2018 and 2019. The HK$ is pegged to the US$ within a narrow range and the MOP is pegged to the HK$, therefore the Group does not expect fluctuations in the values of these currencies to have a material impact on the operations. (ii) Credit risk The Group is potentially subject to concentrations of credit risk from financial instruments, which consist principally of cash and cash equivalents, restricted cash and cash equivalents and trade and other receivables. The Group maintains cash and cash equivalents and restricted cash and cash equivalents and receivables associated with the derivative contracts with various creditworthy financial institutions. Management monitors this credit risk on an on-going basis and does not believe that the Group has any other significant exposure to any individual or institution as at December 31, 2017, 2018 and 2019. See Note 18 for details of credit risk related to trade receivables. 29. FINANCIAL RISK MANAGEMENT (CONTINUED) (a) Financial risk factors (continued) (iii) Liquidity risk Liquidity risk is the financial risk arising from the difficulty in meeting obligations associated with financial liabilities settled by cash or other financial assets. The 2018 SCL Credit Facility requires the Group to comply with financial covenants, which include maintaining a maximum leverage ratio of debt to SCL Credit Facility Adjusted EBITDA. The maximum leverage ratio is 4.0x for all quarterly periods through maturity. As at December 31, 2018 and 2019, the leverage ratio, as defined per the credit facility agreement, was 1.9x and 1.8x, respectively, compared to the maximum leverage ratio allowed of 4.0x and 4.0x, respectively. If the Group is unable to maintain compliance with the financial covenants under the credit facility, the Group would be in default with regard to any borrowings under the credit facility. The Group’s financial liabilities, based on the contractual undiscounted cash flows are as follows: Within the first year In the second year In the third to fifth year Over the fifth year Total (US$ in millions) At December 31, 2018 Senior Notes principal $ — $ — $ 1,800 $ 3,700 $ 5,500 Senior Notes interests 277 277 833 698 2,085 Finance lease liabilities on leasehold interests in land 8 5 16 312 341 Other finance lease liabilities 2 2 1 — 5 Trade and other payables 1,546 22 55 12 1,635 At December 31, 2019 Senior Notes principal $ — $ — $ 1,800 $ 3,700 $ 5,500 Senior Notes interests 278 278 750 503 1,809 Lease liabilities 20 13 18 307 358 Trade and other payables 1,359 36 43 21 1,459 29. FINANCIAL RISK MANAGEMENT (CONTINUED) (b) Capital risk management The Group’s primary objective when managing capital is to safeguard the Group’s ability to continue as a going concern in order to provide returns for Shareholders and benefits for other stakeholders, by pricing products and services commensurately with the level of risk. The capital structure of the Group consists of debt, which includes borrowings (including current and non-current borrowings as shown in the consolidated balance sheet), net of cash and cash equivalents, and equity attributable to Shareholders, comprising issued share capital and reserves as disclosed in Notes 20 and 21, respectively. The Group actively and regularly reviews and manages its capital structure to maintain the net debt-to-capital ratio (gearing ratio) at an appropriate level based on its assessment of the current risk and circumstances. This ratio is calculated as net debt divided by total capital. Net debt is calculated as interest bearing borrowings, net of deferred financing costs, less cash and cash equivalents and restricted cash and cash equivalents. Total capital is calculated as equity, as shown in the consolidated balance sheet, plus net debt. December 31, 2018 2019 (US$ in millions) Interest bearing borrowings, net of deferred financing costs $ 5,427 $ 5,461 Less: cash and cash equivalents (2,676) (2,471) restricted cash and cash equivalents (13) (15) Net debt 2,738 2,975 Total equity 4,409 4,446 Total capital $ 7,147 $ 7,421 Gearing ratio 38.3 % 40.1 %

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended	12 Months Ended
Commitments and Contingencies	Jun. 30, 2020	Dec. 31, 2019
Commitments and contingencies [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES (a) Capital commitments Property and equipment commitments not provided for are as follows: June 30, December 31, 2020 2019 (US$ in millions) (Unaudited) (Audited) Contracted but not provided for $ 615 $ 1,001 (b) Litigation The Group has contingent liabilities arising in the ordinary course of business. Management has made estimates for potential litigation costs based upon consultation with legal counsel. Actual results could differ from these estimates; however, in the opinion of management, such litigation and claims will not have a material adverse effect on the Group’s financial condition, results of operations or cash flows.	COMMITMENTS AND CONTINGENCIES (a) Capital commitments Significant capital expenditure on property and equipment contracted for at the end of the reporting periods but not recognized as liabilities is as follows: December 31, 2018 2019 (US$ in millions) Contracted but not provided for $ 507 $ 1,001 26. COMMITMENTS AND CONTINGENCIES (CONTINUED) (b) Litigation The Group has contingent liabilities arising in the ordinary course of business. Management has made estimates for potential litigation costs based upon consultation with legal counsel. Actual results could differ from these estimates; however, in the opinion of management, such litigation and claims will not have a material adverse effect on the Group’s financial condition, results of operations or cash flows. (c) Concession and Subconcession On June 26, 2002, the Macao government granted a concession to operate casinos in Macao through June 26, 2022, subject to certain qualifications, to Galaxy, a consortium of Macao and Hong Kong-based investors. During December 2002, VML and Galaxy entered into a subconcession agreement that was recognized and approved by the Macao government and allows VML to develop and operate casino projects, including The Venetian Macao, Sands Cotai Central, The Parisian Macao, The Plaza Macao and Sands Macao, separately from Galaxy. Beginning on December 26, 2017, the Macao government may redeem the subconcession agreement by providing the Group at least one year’s prior notice. The subconcession of VML will expire on June 26, 2022. Under the subconcession, the Group is obligated to pay to the Macao government an annual premium with a fixed portion and a variable portion based on the number and type of gaming tables it employs and gaming machines it operates. The fixed portion of the premium is equal to MOP30 million (approximately US$4 million at the exchange rate in effect on December 31, 2019). The variable portion is equal to MOP300,000 per gaming table reserved exclusively for certain kinds of games or players, MOP150,000 per gaming table not so reserved and MOP1,000 per electrical or mechanical gaming machine, including slot machines (approximately US$37,399, US$18,700 and US$125, respectively, at the exchange rate in effect on December 31, 2019), subject to a minimum of MOP45 million (approximately US$6 million at the exchange rate in effect on December 31, 2019). The Group is also obligated to pay a special gaming tax of 35% of gross gaming revenues and applicable withholding taxes. The Group must also contribute 4% of its gross gaming revenue to utilities designated by the Macao government, a portion of which must be used for promotion of tourism in Macao. Based on the number and types of gaming tables employed and gaming machines in operation as at December 31, 2018, the Group was obligated under its subconcession to make minimum future payments of approximately US$42 million in each of the next three years in the period ending December 31, 2021, and approximately US$21 million during the year ending December 31, 2022. Based on the number and types of gaming tables employed and gaming machines in operation as at December 31, 2019, the Group was obligated under its subconcession to make minimum future payments of approximately US$42 million during each of the next two years in the period ending December 31, 2021, and approximately US$21 million during the year ending December 31, 2022. (d) Construction labor The Group, in the past, has utilized an imported construction labor quota granted to it and its appointed construction manager, Hsin Chong Engineering (Macau) Limited, by the Labour Affairs Bureau of the Macao government for purposes of completing outstanding areas within Sands Cotai Central and The Parisian Macao project and for additions and alterations work in The Venetian Macao, The Plaza Macao and Sands Cotai Central (the “Old Group Quota”). Following the completion of The Parisian Macao project, the Old Group Quota was held exclusively by the Group and expired on December 31, 2018. In December 2018, the Group applied to the Labour Affairs Bureau of the Macao government for the renewal of the Old Group Quota as well as for the granting of an additional imported construction labor quota (“New Group Quota,” and together with the “Old Group Quota,” the “Group Quota”), which were approved and granted in January 2019. The Group retained a new construction management company, BCA (Macau) Limited, to manage the Group Quota in future development works on behalf of, and as directed by the Group with the Group’s contractors and consultants. The Group has ceased its engagement with Hsin Chong Engineering (Macau) Limited as its appointed construction manager since then. The Group Quota covers the importation of non-resident staff and workers that represents only part of the imported staff and labor required to complete the construction work. The shortfall of the imported staff and labor are covered by separate quotas awarded by the Labour Affairs Bureau of the Macao government directly to the various construction companies contracted by the Group for the construction work (the “Contractor Quota”). 26. COMMITMENTS AND CONTINGENCIES (CONTINUED) (d) Construction labor (continued) In accordance with Macao labor law, the Group is primarily liable to fulfill all employer legal obligations and for the costs associated with persons employed under the Group Quota. In the past, such employees were managed and supervised by the Group’s contractors. The contractors utilizing the Group Quota are contractually obligated to pay all employer costs and to indemnify the Group for any costs they may incur as a result of the persons employed. In addition, the Group has the right of recovering the costs they may incur against any amounts due to the contractors. The Group, however, may still have a contingency for the payments to the construction labor if the contractors fail to pay the salaries and the Group is unable to fully recover the amounts due to the construction labor from the contractors. Up to December 31, 2018, the Group continued to employ imported staff and labor under the Old Group Quota. Upon the approval and grant of the Group Quota in January 2019 and the additional approval and grant of the Group Quota during 2019, the Group employs imported staff and labor under the Group Quota. The Group is not directly liable for employer costs associated with staff and labor imported by contractors under the Contractor Quota.

Company Balance Sheet

Company Balance Sheet	12 Months Ended
Company Balance Sheet	Dec. 31, 2019
Disclosure of separate financial statements [Abstract]
Disclosure of separate financial statements	COMPANY BALANCE SHEET December 31, 2018 2019 Note (US$ in millions) ASSETS Non-current assets Interests in subsidiaries $ 1,951 $ 1,129 Note receivable from a subsidiary 5,239 5,919 Other assets 15 — Other receivables and prepayments 39 — Total non-current assets 7,244 7,048 Current assets Other assets — 35 Other receivables and prepayments 64 96 Cash and cash equivalents 279 216 Total current assets 343 347 Total assets $ 7,587 $ 7,395 EQUITY Capital and reserves attributable to equity holders of the Company Share capital $ 81 $ 81 Reserves 30(a) 1,954 1,738 Total equity 2,035 1,819 LIABILITY Non-current liability Borrowings 5,427 5,461 Other payables — 1 Total non-current liabilities 5,427 5,462 Current liability Other payables 125 114 Total current liability 125 114 Total liabilities 5,552 5,576 Total equity and liability $ 7,587 $ 7,395 Net current assets $ 218 $ 233 Total assets less current liability $ 7,462 $ 7,281 Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019. 30. COMPANY BALANCE SHEET (CONTINUED) (a) The movements of reserves during the years are as follows Capital reserve Share premium Share-based compensation reserves Currency translation reserve Retained earnings Total (US$ in millions) Balance at January 1, 2017 $ 106 $ 1,411 $ 50 $ (3) $ 634 $ 2,198 Profit for the year — — — — 1,645 1,645 Other comprehensive expense for the year — — — (11) — (11) Total comprehensive (expense) income — — — (11) 1,645 1,634 Exercise of share options — 12 — — — 12 Conversion of equity awards to liability awards — — (5) — — (5) Transfer to share premium upon exercise of share options — 5 (5) — — — Forfeiture of share options — — (3) — 3 — Share-based compensation of the Company — — 12 — — 12 Dividends to equity holders of the Company — — — — (2,069) (2,069) Balance at December 31, 2017 106 1,428 49 (14) 213 1,782 Profit for the year — — — — 2,192 2,192 Other comprehensive expense for the year — — — (4) — (4) Total comprehensive (expense) income — — — (4) 2,192 2,188 Exercise of share options — 23 — — — 23 Transfer to share premium upon exercise of share options — 6 (6) — — — Forfeiture of share options — — (4) — 4 — Share-based compensation of the Company — — 14 — — 14 Dividends to equity holders of the Company (Note 11) — — — — (2,053) (2,053) Balance at December 31, 2018 106 1,457 53 (18) 356 1,954 Profit for the year — — — — 1,792 1,792 Other comprehensive expense for the year — — — 4 — 4 Total comprehensive income — — — 4 1,792 1,796 Exercise of share options — 28 — — — 28 Transfer to share premium upon exercise of share options — 6 (6) — — — Forfeiture of share options — — (3) — 3 — Share-based compensation of the Company — — 14 — — 14 Dividends to equity holders of the Company (Note 11) — — — — (2,054) (2,054) Balance at December 31, 2019 $ 106 $ 1,491 $ 58 $ (14) $ 97 $ 1,738

Principal Subsidiaries

Principal Subsidiaries	12 Months Ended
Principal Subsidiaries	Dec. 31, 2019
Disclosure of interests in other entities [Abstract]
Principal Subsidiaries	PRINCIPAL SUBSIDIARIES Details of the Group’s principal subsidiaries as at December 31, 2017, 2018 and 2019 are as follows: Name Place of incorporation or establishment/ operations and date of incorporation or Principal activities Particulars of issued share/registered capital Effective interests held Directly held: Venetian Venture Cayman Islands, Investment holding US$1 100% SCL IP Holdings, LLC United States, Holder of trademark licenses As at December 31, 2017 and 2018: US$100 As at December 31, 2019: US$527,802,937.56 100% Indirectly held: Cotai Ferry Company Macao/Macao and High speed ferry transportation services MOP10,000,000 100% Cotai Strip Lot 2 Apart Macao, Hotel apartments MOP6,498,900 100% Cotai Services (HK) Hong Kong, Business support services, marketing and operation of ferry business As at December 31, 2017 and 2018: HK$1 As at December 31, 2019: HK$749,025,708.72 100% CotaiJet 1 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 2 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 3 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 4 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% 31. PRINCIPAL SUBSIDIARIES (CONTINUED) Name Place of incorporation or establishment/ operations and date of incorporation or establishment Principal Particulars of issued share/ Effective interests held CotaiJet 5 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 6 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 7 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 8 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 9 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 10 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 11 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 12 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 13 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 14 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 311 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$6,423,536.85 100% CotaiJet 312 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$6,339,957.74 100% 31. PRINCIPAL SUBSIDIARIES (CONTINUED) Name Place of incorporation or establishment/ operations and date of incorporation or Principal Particulars of issued share/ Effective interests held CotaiJet 313 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$6,312,405.81 100% CotaiJet 314 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$6,486,421.42 100% CotaiJet 315 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$6,332,468.30 100% CotaiJet 316 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$6,439,507.84 100% CotaiJet 317 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$6,526,794.49 100% CotaiJet 318 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$7,936,384.02 100% CotaiJet 319 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$7,838,910.17 100% CotaiJet 320 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$6,123,939.20 100% CotaiJet 350 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$7,173,446.06 100% 31. PRINCIPAL SUBSIDIARIES (CONTINUED) Name Place of incorporation or establishment/ operations and date of incorporation or Principal Particulars of issued share/ Effective interests held CotaiJet 351 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$7,115,613.37 100% CotaiJet 352 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$7,292,634.59 100% CotaiJet 353 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$7,264,364.42 100% Cotaiwaterjet Sea Bridge 1 Ltd. Cayman Islands/Macao Pontoon leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$24,365.38 100% Cotaiwaterjet Sea Bridge 2 Ltd. Cayman Islands/Macao Pontoon leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$25,651.14 100% Cotaiwaterjet Sea Bridge 1 (HK) Limited Hong Kong/Macao Pontoon leasing (Note (i)) HK$1 100% Cotaiwaterjet Sea Bridge 2 (HK) Limited Hong Kong/Macao Pontoon leasing (Note (i)) HK$1 100% Sands Cotai East Holdings Limited Cayman Islands/Macao, Holder of hotel franchise agreement US$1 100% 31. PRINCIPAL SUBSIDIARIES (CONTINUED) Name Place of incorporation or establishment/ operations and date of incorporation or establishment Principal activities Particulars of issued share/ registered capital Effective interests held Sands Cotai West Cayman Islands/Macao, Holder of hotel franchise agreement US$1 100% Sands Resorts Hong Kong, Travel and tourism agency services HK$500,000 100% Sands Resorts Hong Kong, Transportation services HK$1 100% Sands Resorts Hong Kong, Transportation services HK$1 100% Sands Resorts Hong Kong, Transportation services HK$1 100% Sands Venetian Security Limited Macao, Security services MOP1,000,000 100% Venetian Cotai Hotel Management Limited Macao, Human resources administration MOP500,000 100% Venetian Cotai Limited Macao, Hotels, restaurants, shopping mall, and conference and convention MOP200,000,000 100% Venetian Macau Limited (Note (ii)) Macao, Gaming and other related activities MOP200,000,000 100% Venetian Orient Limited Macao, Hotels, restaurants, shopping mall, and conference and convention MOP100,000 100% Venetian Retail Limited Macao, Mall management MOP1,500,000 100% Venetian Travel Limited Macao, Travel and tourism agency services MOP2,400,000 100% Venetian Transportation Services Limited Macao, Transportation services and other related activities MOP25,000 100% V-HK Services Limited Hong Kong, Marketing and customer development services HK$1 100% 31. PRINCIPAL SUBSIDIARIES (CONTINUED) Name Place of incorporation or establishment/ operations and date of incorporation or Principal Particulars of issued share/ Effective interests held VML US Finance LLC (Note (iii)) United States, January 3, 2006 Financing Nil 100% Zhuhai Cotai Information Services Outsourcing Co., Ltd.(Note (iv)) China, Outsourcing services, including information technology, accounting, hotel management and marketing US$800,000 100% Zhuhai Cotai Logistics Hotel Services Co., Ltd. China, Procurement, US$4,500,000 100% Zhuhai Hengqin Cotai Information Services Co., Ltd. (Note (iv)) China, Outsourcing services, including information technology, accounting, hotel management and marketing US$2,000,000 100% Notes: (i) Each of the Cayman Islands registered companies has transferred their ferry or pontoon and related assets, respectively, to each of the Hong Kong registered companies within the Group in December 2019 as a result of a Group reorganization. These Cayman Islands companies are dissolved on March 31, 2020. (ii) 10% of the company’s issued share capital is held through an usufruct agreement whereby VVDIL has the sole and exclusive benefit. Accordingly, the profits and losses and assets and liabilities of the company have been consolidated as to 100% thereof into the consolidated financial statements. (iii) The company is dissolved on May 24, 2019. (iv) These entities are wholly foreign owned enterprises established in China.

Summary of Significant Accoun_2

Summary of Significant Accounting (Policies)	12 Months Ended
Summary of Significant Accounting (Policies)	Dec. 31, 2019
Disclosure of significant accounting policies [Abstract]
Disclosure of basis of preparation of financial statements [text block]	Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with the following accounting policies which conform with International Financial Reporting Standards (“IFRS”). The preparation of the consolidated financial statements in accordance with IFRS requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group’s accounting policies. The areas involving a higher degree of judgment or complexity, or areas where assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 3. The consolidated financial statements have been prepared on the historical cost basis except for financial liabilities for cash-settled share-based payment transactions and derivative financial instruments that are measured at fair value. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (a) Basis of preparation (continued) The consolidated financial statements are prepared solely for inclusion in the offering memorandum of the Company in connection with the proposed offering of the senior notes. As a result, the consolidated financial statements may not be suitable for another purpose. Accordingly, the consolidated balance sheet as at December 31, 2017 and the consolidated income statement, the consolidated statement of comprehensive income, the consolidated statement of changes in equity and the consolidated statement of cash flows for the year ended December 31, 2016 have not been presented.
Disclosure of changes in accounting policies [text block]	Changes in accounting policies and disclosures During the year ended December 31, 2017, 2018 and 2019, there have been a number of new standards and new amendments to standards that have come into effect, which the Group has adopted at their respective dates. Details of the adoption of material new standards are set out below. IFRS 15 Revenue from Contracts with Customers (“IFRS 15”) The accounting standard establishes a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers. The core principle of IFRS 15 is an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. It also requires more detailed disclosures to enable users of financial statements to understand the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. See Note 4 for these disclosures. The Group adopted the new standard on January 1, 2018, on a full retrospective basis. The standard changes the accounting for complimentary services (including rooms, food and beverage, and other services) provided to casino guests as incentives related to gaming play. Complimentary revenues were previously excluded from revenues in the accompanying consolidated income statement prepared in accordance with IFRS. The adoption of the new standard resulted in a decrease in casino revenue due to complimentary services provided and recognition of revenue in the resulting business category of the goods or services provided when the services are rendered. The cost of providing such complimentary services were regrouped in the respective business categories. Certain commission arrangements with third parties were reclassified out of operating expenses and netted with revenue. The effect of adoption of this standard is set out below. Effect on the consolidated income statement for the year ended December 31, 2017: For the year ended December 31, 2017 as previously stated Effects of IFRS 15 Reclassification (Note) For the year ended December 31, 2017 as restated (US$ in millions) Net revenues $ 7,715 $ (129) $ — $ 7,586 Gaming promoter/agency commissions (135) 127 8 — Other expenses, gains and losses (915) 2 (8) (921) Note: Amount represented agency commissions. As the amount was immaterial, it was reclassified to “Other expenses, gains and losses” for the purpose of presenting the consolidated income statement. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (b) Changes in accounting policies and disclosures (continued) IFRS 9 Financial Instruments (“IFRS 9”) The accounting standard replaces the provisions of International Accounting Standards (“IAS”) 39 Financial Instruments: Recognition and Measurement (“IAS 39”) that relates to the recognition, classification and measurement of financial assets and financial liabilities, derecognition of financial instruments, impairment of financial assets and hedge accounting. The adoption of IFRS 9 from January 1, 2018 resulted in changes in accounting policies and adjustments to the amounts recognized in the financial statements. In accordance with the transition provisions in IFRS 9 (7.2.15), the financial information for the year ended December 31, 2017 have not been restated. Effect on the consolidated retained earnings as of January 1, 2018 is as follows: Note (US$ in millions) Closing retained earnings as of December 31, 2017 - IAS 39 $ 2,864 Decrease in carrying amount of bank loan measured at amortized cost (i) 24 Opening retained earnings as of January 1, 2018 - IFRS 9 $ 2,888 (i) Classification and measurement — borrowings Following the adoption of IFRS 9, the Group is no longer able to defer the recognition of gain from the modification of debt, which did not result in a derecognition of the financial liability. Under the Group’s previous accounting policies, this gain would have been recognized over the remaining life of the borrowing by adjusting the effective interest rate, on the basis the terms and conditions of the credit facility remained largely unchanged. As a result, the carrying amount of the bank loan which was still recognized on the date of the adoption of IFRS 9 decreased by US$24 million and the opening retained earnings as of January 1, 2018 increased accordingly. (ii) Impairment of financial asset The Group’s financial assets consist of cash and cash equivalents, restricted cash and cash equivalents and trade and other receivables that are subsequently recognized at amortized cost. The Group applies the IFRS 9 simplified approach to measure expected credit losses (“ECL”), using a lifetime expected loss allowance for all trade and other receivables. Cash and cash equivalents and restricted cash and cash equivalents are also subject to the impairment requirements of IFRS 9 and, due to their nature, the expected loss allowance is immaterial. To measure the expected credit losses, except for credit impaired balances and outstanding significant balances that have been assessed individually, the remaining trade receivables have been grouped based on shared credit risk characteristics and days past due. The loss allowance for trade receivables applying lifetime expected credit loss as compared to the incurred loss model of IAS 39 did not result in a material difference and hence did not result in an adjustment of opening retained earnings as of January 1, 2018. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (b) Changes in accounting policies and disclosures (continued) IFRS 16 Leases (“IFRS 16”) The accounting standard superseded the requirements in IAS 17 Leases (“IAS 17”) and the related interpretations to introduce a comprehensive model for the identification of lease arrangements and accounting treatments for both lessors and lessees. The Group adopted the new standard on January 1, 2019. IFRS 16 distinguishes lease and service contracts on the basis of whether an identified asset is controlled by a customer. Distinctions of operating leases and finance leases are removed for lessee accounting, and is replaced by a model where a right-of-use asset and a corresponding liability have to be recognized for all leases by lessees, except for short-term leases and leases of low-value assets. Lessor accounting remains largely unchanged under the new standard. On transition to IFRS 16, the Group elected to apply the practical expedient for lease definition. The Group applied IFRS 16 only to contracts previously identified as leases applying IAS 17 and IFRIC-Int 4 Determining whether an Arrangement Contains a Lease (“IFRIC-Int 4”). Contracts that were not identified as leases under IAS 17 and IFRIC-Int 4 were not reassessed. Therefore, the definition of a lease under IFRS 16 was applied only to contracts entered into or modified on or after January 1, 2019. Further, the Group elected the modified retrospective approach for the application of IFRS 16, under which the effect of initial application was recognized at January 1, 2019. Accordingly, the financial information presented as at December 31, 2018 and for the years ended December 31, 2017, and 2018 were not restated. The lease liability was measured at the present value of the remaining lease payments at the date of initial application and the right-of-use asset was measured at an amount equal to the lease liability immediately before the date of initial application. The adoption of this standard did not have an impact on net income. The impact on transition is summarized below: December 31, Impact on transition January 1, 2019 (US$ in millions) Right-of-use assets comprise of: Investment properties - Leasehold interests in land $ 44 $ — $ 44 Property and equipment, net - Leasehold interests in land 552 — 552 Property and equipment, net - Other 4 6 10 Lease liabilities comprise of: Current liabilities - Borrowings $ 10 $ 4 $ 14 Non-current liabilities - Borrowings 125 2 127 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (b) Changes in accounting policies and disclosures (continued) IFRS 16 Leases (continued) The Group has already recognized an asset and a related finance lease liability for finance lease arrangements and prepaid lease payments for leasehold interests in land where the Group was a lessee under IAS 17, therefore the additional right-of-use assets and lease liabilities recognized upon adoption for leases previously classified as operating leases were US$6 million. The weighted average incremental borrowing rate applied to lease liabilities recognized in the consolidated balance sheet at January 1, 2019 was 3.9%. (US$ in millions) Operating lease commitments disclosed as at December 31, 2018 $ 7 Discounted using the incremental borrowing rate as at January 1, 2019 7 Add: Finance lease liabilities recognized as at December 31, 2018 135 Recognition exemption for: Short-term leases and leases of low-value assets (1) Lease liabilities recognized as at January 1, 2019 $ 141 In the consolidated balance sheet, the Group presents right-of-use assets that do not meet the definition of “investment property” in “property and equipment.” Right-of-use assets that meet the definition of “investment property” are presented within “investment properties” and lease liabilities are presented within “borrowings.” Right-of-use assets are included within the same category under “property and equipment,” which the corresponding underlying assets would be presented if they were owned. In the consolidated statement of cash flows, the Group has previously presented operating lease payments under cash flows from operating activities. Upon the adoption of IFRS 16, lease payments and any associated interest paid are presented under cash flows from financing activities except for leases with an expected term of 12 months or less and leases of low-value assets which are presented under cash flows from operating activities. New standards and amendments to IFRS issued but not yet effective The Group has not early adopted the new or revised standards, amendments and interpretations that have been issued, but are not effective for the year ended December 31, 2019.
Description of accounting policy for subsidiaries [text block]	Subsidiaries Consolidation The consolidated financial statements incorporate the financial statements of the Company and entities controlled by the Company and its subsidiaries. Control is achieved when the Company: • has power over the investee; • is exposed, or has rights, to variable returns from its involvement with the investee; and • has the ability to use its power to affect its returns. The Group reassesses whether or not it controls an investee if facts and circumstances indicate there are changes to one or more of the three elements of control listed above. Subsidiaries are fully consolidated from the date on which control is transferred to the Group and are deconsolidated from the date that control ceases. Intra-group transactions, balances and unrealized gains and losses on transactions between group companies are eliminated. Profit and losses resulting from inter-company transactions are also eliminated. The particulars of the Group’s principal subsidiaries as at December 31, 2019 are set out in Note 31.
Description of accounting policy for segment reporting [text block]	Segment reportingOperating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker. The chief operating decision maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as a group of senior management that makes strategic decisions.
Description of accounting policy for foreign currency translation [text block]	Foreign currency translation (i) Functional and presentation currency Items included in the financial statements of each of the Group’s companies are measured using the currency of the primary economic environment in which the entity operates (the “functional currency”). The Company’s functional currency is Macao patacas (“MOP”). The consolidated financial statements are presented in US$, which is the presentation currency of LVS. (ii) Transactions and balances Foreign currency transactions are translated into the functional currency using the exchange rates prevailing at the dates of the transactions or valuation where items are remeasured. Foreign exchange gains and losses resulting from the settlement of such transactions and from the translation at year-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognized in the consolidated income statement. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (e) Foreign currency translation (continued) (iii) Group companies The results of operations and financial position of all the group companies (none of which has the currency of a hyperinflationary economy) that have a functional currency different from the presentation currency are translated into the presentation currency as follows: • Assets and liabilities for each balance sheet presented are translated at the closing rate at the date of that balance sheet; • Income and expenses for each income statement are translated at average exchange rates (unless this average is not a reasonable approximation of the cumulative effect of the rates prevailing on the transaction dates, in which case income and expenses are translated at the rates on the dates of the transactions); and • All resulting exchange differences are recognized in other comprehensive income (expense) (currency translation differences) and will not be reclassified subsequently to profit or loss. On consolidation, exchange differences arising from the translation of the net investment in foreign entities, and of borrowings, are recognized in other comprehensive income (expense). When a foreign operation is sold, such exchange differences are recognized in the consolidated income statement as part of the gain or loss on sale. On the disposal of a foreign operation (that is, a disposal of the Group’s entire interest in a foreign operation, or a disposal involving loss of control over a subsidiary that includes a foreign operation), all of the exchange differences accumulated in equity in respect of that operation attributable to the equity holders of the Company are reclassified to profit or loss. In the case of a partial disposal that does not result in the Group losing control over a subsidiary that includes a foreign operation, the proportionate share of accumulated exchange differences are reattributed to non-controlling interests and are not recognized in profit or loss.
Description of accounting policy for investment property [text block]	Investment propertiesInvestment properties, principally comprising buildings and building improvements, are held for long-term rental yields or capital appreciation or both, and are not occupied by the Group. Investment properties currently being constructed or developed are classified as investment properties and stated at cost, less accumulated impairment losses, if any. Investment properties are initially measured at cost and subsequently carried at cost less accumulated depreciation and accumulated impairment losses, if any. Investment properties are depreciated on a straight-line basis, at rates sufficient to write off their costs over their estimated useful lives of 3 to 50 years. The residual values and useful lives of investment properties are reviewed, and adjusted as appropriate at each balance sheet date. The effects of any revision are included in the consolidated income statement when the changes arise. During the year ended December 31, 2017, the Group revised the estimated useful lives of certain investment properties. See Note 3(a) for details.
Description of accounting policy for property, plant and equipment [text block]	Property and equipment Leasehold interests in land classified as leases and all other property and equipment, except construction-in- progress, are stated at historical cost less accumulated depreciation and accumulated impairment losses. The cost of an asset comprises its purchase price and any directly attributable costs of bringing the asset to its working condition and location for its intended use. Leasehold interests in land classified as leases commence amortization from the time when the land interest becomes available for its intended use. Leasehold interests in land classified as leases are amortized and other property and equipment are depreciated on a straight-line basis, at rates sufficient to write off their costs over their estimated useful lives. Property and equipment are depreciated as follows: Leasehold interests in land classified as leases 50 years Leasehold improvements Shorter of lease term or 3 years Land improvements, buildings and building improvements 10–50 years Leased buildings and equipment Lease term Ferries 20 years Furniture, fittings and equipment 3–20 years Vehicles 5–6 years During the year ended December 31, 2017, the Group revised the estimated useful lives of certain property and equipment. See Note 3(a) for details. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable future economic benefits associated with the item will flow to the Group and the cost of the item can be measured reliably. The carrying amount of the replaced part is derecognized. All other repairs and maintenance are charged to the consolidated income statement during the financial period in which they are incurred. Construction-in-progress represents property and equipment under construction and is stated at cost, less accumulated impairment losses, if any. This includes the direct costs of purchase, construction and capitalized borrowing costs. Construction-in-progress is not depreciated until such time as the relevant assets are completed and ready for their intended use, at which time they are transferred to the relevant asset category. The assets’ residual values and useful lives are reviewed, and adjusted if applicable, at the end of each reporting period. An asset’s carrying amount is written down immediately to its recoverable amount if the asset’s carrying amount is greater than its estimated recoverable amount. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognized within “Other expenses, gains and losses” in the consolidated income statement.
Description of accounting policy for intangible assets other than goodwill [text block]	Intangible assets Computer software Acquired computer software licenses are capitalized on the basis of the costs incurred to acquire and bring to use the specific software. These costs are amortized over their estimated useful lives of 4 years.
Description of accounting policy for impairment of non-financial assets [text block]	Impairment of non-financial assetsAssets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate the carrying amount may not be recoverable. An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash inflows (i.e. cash generating units or “CGU”). Non-financial assets that suffered impairment are reviewed for possible reversal of the impairment at each reporting date.
Description of accounting policy for financial assets [text block]	Financial assets Classification and subsequent measurement of financial assets (before application of IFRS 9 on January 1, 2018) The Group’s financial assets consist of receivables, which are classified as loans and receivables under IAS 39 and are non-derivative financial assets with fixed or determinable payments that are not quoted in an active market and for which management has no intention of trading. They are included in current assets, except for the amounts settled or expected to be settled more than twelve months after the end of the reporting period, which are classified as non-current. Receivables are subsequently carried at amortized cost. Financial assets and liabilities are offset and the net amount is reported in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. Impairment of financial assets (before application of IFRS 9 on January 1, 2018) The Group assesses at the end of each reporting period whether there is objective evidence a financial asset or group of financial assets is impaired. A financial asset or a group of financial assets is impaired and impairment losses are incurred only if there is objective evidence of impairment as a result of one or more events that occurred after the initial recognition of the asset (a “loss event”) and that loss event (or events) has an impact on the estimated future cash flows of the financial asset or group of financial assets that can be reliably estimated. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (j) Financial assets (continued) Impairment of financial assets (before application of IFRS 9 on January 1, 2018) (continued) The criteria the Group uses to determine there is objective evidence of an impairment loss include: i. Significant financial difficulty of the issuer or obligor; ii. A breach of contract, such as a default or delinquency in interest or principal payments; iii. The Group, for economic or legal reasons relating to the borrower’s financial difficulty, granting to the borrower a concession the lender would not otherwise consider; iv. It becomes probable the borrower will enter bankruptcy or other financial reorganization; v. Observable data indicating there is a measurable decrease in the estimated future cash flows from a portfolio of financial assets since the initial recognition of those assets, although the decrease cannot yet be identified with the individual financial assets in the portfolio, including: (i) adverse changes in the payment status of borrowers in the portfolio; or (ii) national or local economic conditions that correlate with defaults on the assets in the portfolio. The Group first assesses whether objective evidence of an impairment exists. For the receivables, the amount of the loss is measured as the difference between the asset’s carrying amount and the estimated future cash flows (excluding future credit losses that have not been incurred). The carrying amount of the asset is reduced and the amount of the loss is recognized in the consolidated income statement. If, in a subsequent period, the amount of the impairment loss decreases and the decrease can be related objectively to an event occurring after the impairment was recognized (such as an improvement in the debtor’s credit rating), the reversal of the previously recognized impairment loss is recognized in the consolidated income statement. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (j) Financial assets (continued) Classification and subsequent measurement of financial assets (upon application of IFRS 9 on January 1, 2018) Financial assets that meet the following conditions are subsequently measured at amortized cost: • the financial asset is held within a business model whose objective is to collect contractual cash flows; and • the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. Financial assets that meet the following conditions are subsequently measured at fair value through other comprehensive income (“FVTOCI”): • the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling; and • the contractual terms give rise on specified dates to cash flows that are solely payments of principal and interest on the principal amount outstanding. All other financial assets are subsequently measured at fair value through profit or loss (“FVTPL”). The Group’s financial assets consist of cash and cash equivalents, restricted cash and cash equivalents and trade and other receivables. Financial assets and liabilities are offset and the net amount is reported in the balance sheet when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis or realize the asset and settle the liability simultaneously. Interest income is recognized by applying the effective interest rate, except for short-term receivables where the recognition of interest would be immaterial. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (j) Financial assets (continued) Impairment of financial assets (upon application of IFRS 9 on January 1, 2018) The Group recognizes a loss allowance for ECL on trade and other receivables which are subject to impairment under IFRS 9. The amount of ECL is updated at each reporting date to reflect changes in credit risk since initial recognition. Lifetime ECL represents the ECL that will result from all possible default events over the expected life of the relevant instrument. Assessments are done based on the Group’s historical credit loss experience, adjusted for factors specific to the debtors, general economic conditions and an assessment of both the current conditions at the reporting date as well as the forecast of future conditions. a. Definition of default For internal credit risk management, the Group considers an event of default occurs when information developed internally or obtained from external sources indicates the debtor is unlikely to pay its creditors, including the Group, in full (without taking into account any collateral held by the Group). b. Credit-impaired financial assets A financial asset is credit-impaired when one or more events of default that have a detrimental impact on the estimated future cash flows of that financial asset have occurred. Evidence of a financial asset that is credit-impaired includes observable data about the following events: i. Significant financial difficulty of the issuer or the borrower; ii. A breach of contract, such as a default or past due event; iii. The Group, for economic or legal reasons relating to the borrower’s financial difficulty, grants to the borrower a concession the lender would not otherwise consider; iv. It becomes probable the borrower will enter bankruptcy or other financial reorganization; v. The disappearance of an active market for that financial asset because of financial reorganization; or vi. Observable data indicating there is a measurable decrease in the estimated future cash flows from a portfolio of financial assets since the initial recognition of those assets, although the decrease cannot yet be identified with the individual financial assets in the portfolio, including: (i) adverse changes in the payment status of borrowers in the portfolio; or (ii) national or local economic conditions that correlate with defaults on the assets in the portfolio. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (j) Financial assets (continued) Impairment of financial assets (upon application of IFRS 9 on January 1, 2018) (continued) c. Write-off policy The Group writes off a financial asset when there is information indicating the counterparty is in severe financial difficulty and there is no realistic prospect of recovery, for example, when the counterparty has been placed under liquidation or has entered into bankruptcy proceedings. Financial assets written off may still be subject to enforcement activities under the Group’s recovery procedures, taking into account legal advice where appropriate. A write-off constitutes a derecognition event. Any subsequent recoveries are recognized in profit or loss. d. Measurement and recognition of ECL The measurement of ECL is a function of the probability of default, loss given default (i.e. the magnitude of the loss if there is a default) and the exposure at default. The assessment of the probability of default and loss given default is based on historical data adjusted by forward-looking information. Generally, the ECL is the difference between all contractual cash flows due to the Group in accordance with the contract and the cash flows the Group expects to receive. Where ECL is measured on a collective basis or cater for cases where evidence at the individual instrument level may not yet be available, the financial instruments are grouped based on shared credit risk characteristics and days past due. The grouping is regularly reviewed by management to ensure the constituents of each group continue to share similar credit risk characteristics. The Group recognizes an impairment gain or loss in profit or loss for trade and other receivables by adjusting their carrying amount through a loss allowance account. Derecognition of financial assets (before and after application of IFRS 9 on January 1, 2018) The Group derecognizes a financial asset when the consideration was received. On derecognition of a financial asset measured at amortized cost, the difference between the asset’s carrying amount and the sum of the consideration received and receivable is recognized in profit or loss.
Description of accounting policy for determining components of cash and cash equivalents [text block]	Cash and cash equivalentsCash and cash equivalents include cash and short-term deposits with original maturities of three months or less. Restricted cash and cash equivalents are excluded from cash and cash equivalents in the consolidated statement of cash flows. Restricted cash and cash equivalents represent sinking funds set aside to cover the cost of capital expenses, including repairs, renovations, replacements and maintenance of a substantial but infrequent or irregular nature of the Group’s shopping malls.
Description of accounting policy for measuring inventories [text block]	InventoriesInventories consist primarily of food, beverage, retail products, ferry parts and general operating supplies, and are stated at the lower of cost and net realizable value. Cost is determined using the weighted average method. Net realizable value is the estimated selling price in the ordinary course of business, less applicable selling expenses.
Description of accounting policy for issued capital [text block]	Share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issuance of equity instruments are shown in equity as a deduction, net of tax, from the proceeds.
Description of accounting policy for financial liabilities [text block]	Financial liabilities The Group’s financial liabilities, including borrowings and trade and other payables, are initially measured at fair value and subsequently measured at amortized cost, using the effective interest method. Derecognition/substantial modification of financial liabilities The Group derecognizes financial liabilities when, and only when, the Group’s obligations are discharged, canceled or have expired. The difference between the carrying amount of the financial liability derecognized and the consideration paid and payable is recognized in profit or loss. When the contractual terms of financial liability are modified such that the revised terms would result in a substantial modification from the original terms, after taking into account all relevant facts and circumstances including qualitative factors, such modification is accounted for as derecognition of the original financial liability and the recognition of new financial liability. The difference between the carrying amount of the financial liability derecognized and the fair value of consideration paid or payable, including any liabilities assumed and derivative components, is recognized in profit or loss. Non-substantial modifications of financial liabilities (before application of IFRS 9 on January 1, 2018) For non-substantial modifications of financial liabilities that do not result in derecognition, at the point of modification, the carrying amount of the relevant financial liabilities is revised for directly attributable transaction costs and any consideration paid to or received from the counterparty. The effective interest rate is then adjusted to amortize the difference between the revised carrying amount and the expected cash flows over the life of the modified instrument. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (n) Financial liabilities (continued) Non-substantial modifications of financial liabilities (upon application of IFRS 9 on January 1, 2018) For non-substantial modifications of financial liabilities that do not result in derecognition, the carrying amount of the relevant financial liabilities will be calculated at the present value of the modified contractual cash flows discounted at the financial liabilities’ original effective interest rate. Transaction costs or fees incurred are adjusted to the carrying amount of the modified financial liabilities and are amortized over the remaining term. Any adjustment to the carrying amount of the financial liability is recognized in profit or loss at the date of modification.
Description of accounting policy for trade and other payables [text block]	Trade payables Trade payables are obligations to pay for goods or services acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less (or in the normal operating cycle of the business if longer). If not, they are presented as non-current liabilities. Trade payables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method.
Description of accounting policy for borrowings [text block]	Borrowings and financing costs Borrowings are recognized initially at fair value, net of transaction costs incurred. Borrowings are subsequently stated at amortized cost; any difference between the proceeds (net of transaction costs) and the redemption value is recognized in the consolidated income statement over the period of the borrowings using the effective interest method. Fees paid on the establishment of loan facilities are recognized as transaction costs of the loan to the extent it is probable some or all of the facilities will be drawn down. In this case, the fee is deferred until the draw-down occurs. To the extent there is no evidence it is probable some or all of the facilities will be drawn down, the fee is capitalized as a pre-payment for liquidity services and amortized over the period of the facility to which it relates. Borrowings are classified as current liabilities unless the Group has an unconditional right to defer settlement of the liability for at least twelve months after the balance sheet date. A qualifying asset is an asset that takes a substantial period of time to get ready for its intended use (Note 2(g)). Financing costs incurred for the construction of any qualifying asset, less any investment income on the temporary investment of related borrowings, are capitalized during the period that is required to complete and prepare the asset for its intended use. Other financing costs, net of interest income, are expensed.
Description of accounting policy for income tax [text block]	Income tax Income tax expense is comprised of current and deferred tax. (i) Current income tax Current income tax is calculated on the basis of the tax laws enacted or substantively enacted at the balance sheet date in the countries where the Company and its subsidiaries operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which the applicable tax regulation is subject to interpretation and establishes provisions where appropriate on the basis of amounts expected to be paid to the tax authorities. (ii) Deferred income tax Deferred income tax is recognized for temporary differences arising between the tax bases of assets and liabilities and their carrying values in the consolidated financial statements. Deferred income tax is not accounted for if it arises from initial recognition of an asset or a liability in a transaction other than a business combination that, at the time of the transaction, affects neither accounting nor taxable profit or loss. Deferred income tax is determined using tax rates (and laws) enacted or substantively enacted at the balance sheet date and are expected to apply when the related deferred income tax asset is realized or the deferred income tax liability is settled. Deferred income tax assets are recognized only to the extent it is probable future taxable profit will be available against which the temporary differences can be utilized. Deferred income tax is provided for temporary differences arising from investments in subsidiaries, except when the timing of the reversal of the temporary difference can be controlled by the Group and it is probable the temporary difference will not reverse in the foreseeable future. (iii) Offsetting Deferred income tax assets and liabilities are offset when there is a legally enforceable right to offset current tax assets against current tax liabilities and when the deferred income tax assets and liabilities relate to income taxes levied by the same taxation authority on either the taxable entity or different taxable entities where there is an intention to settle the balances on a net basis.
Description of accounting policy for taxes other than income tax [text block]	Gaming tax According to the gaming subconcession granted by the Macao government and the relevant legislation, the Group is required to pay 35% gaming tax on gross gaming revenues, which represents net wins from casino operations. The Group is also required to pay an additional 4% of gross gaming revenues as public development and social related contributions. On a monthly basis, the Group also makes certain variable and fixed payments to the Macao government based on the number of slot machines and table games in its possession. These expenses are reported as “Gaming tax” in the consolidated income statement.
Description of accounting policy for employee benefits [text block]	Employee benefits (i) Pension obligations The Group operates the Private Provident Fund Scheme and Non-Mandatory Central Provident Fund Scheme (collectively, the “Schemes”) through its subsidiaries in Macao. The Schemes are managed by a fund management entity. The Private Provident Fund Scheme is a defined contribution plan available to eligible full-time employees after a three-month probation period. The Group makes a monthly contribution calculated at 5% of each employee’s basic salary to the fund and the employee is eligible to receive, upon resignation, 30% of these contributions after working for three consecutive years, gradually increasing up to 100% after working for ten years. The Non-Mandatory Central Provident Fund Scheme was introduced on July 1, 2019 and serves as an alternative defined contribution plan to employees with Macao residency status. Eligible employees in this scheme can make self-contribution alongside with the contribution from the Group. Eligible employees employed before July 1, 2019 participating in the Private Provident Fund Scheme can opt to interface to the Non-Mandatory Central Provident Fund Scheme. Those who joined after July 1, 2019 can only participate in the Non-Mandatory Central Provident Fund Scheme. The vesting schedule of the Non-Mandatory Central Provident Fund is the same as the Private Provident Fund Scheme but the withdrawal of funds in the Non-Mandatory Central Provident Fund is only available when the employee reaches the age of 65 or above. The Group has no further payment obligations once the contributions have been paid to the Schemes managed by a fund management entity. The contributions are recognized as employee benefit expenses when they are due and are reduced by contributions forfeited by those employees who leave the scheme prior to the contributions being fully vested. Prepaid contributions are recognized as an asset to the extent a cash refund or a reduction in the future payments is available. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (r) Employee benefits (continued) (ii) Share-based compensation Equity-settled share-based payment transactions 1. Share options of the Company The Company adopts an equity award plan for grants of options to purchase ordinary shares of the Company. The cash subscribed for the shares issued when the options are exercised is credited to share capital (nominal value) and share premium, net of any directly attributable transaction costs. At the time when the options are exercised, the amount previously recognized in share-based compensation reserve will be transferred to share premium. When the options are forfeited after the vesting date or are still not exercised at the expiry date, the amount previously recognized in share-based compensation reserve will be transferred to retained earnings. 2. Share options of LVS The Group participates in the equity-settled share-based compensation plan of LVS for grants of options to purchase common stock of LVS. Share-based compensation expense arising from the granting of share options by LVS to the employees of the Group, to the extent of services rendered to the Group, is deemed to have been allocated to the Group as an expense with the corresponding increase in the share-based compensation reserves under equity. The fair value of the employee services received in exchange for the grant of the options under the Equity Award Plan and the 2004 Plan is recognized as an expense. The total amount to be expensed is determined by reference to the fair value of the options granted, excluding the impact of any service and non-market performance vesting conditions (for example, profitability, sales growth targets and remaining an employee of the entity over a specified time period). Non-market vesting conditions are included in assumptions about the number of options that are expected to vest. The total amount expensed is recognized over the vesting period, which is the period over which all of the specified vesting conditions are to be satisfied. At the end of each reporting period, the Group revises its estimates of the number of options expected to vest based on the non-market vesting conditions and service conditions. The Group recognizes the impact of revisions to the original estimates, if any, in the consolidated income statement, with a corresponding adjustment to equity. When the options of the Equity Award Plan are exercised, the Company issues new shares. The proceeds received net of any directly attributable transaction costs are credited to share capital and share premium. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (r) Employee benefits (continued) (ii) Share-based compensation (continued) Cash-settled share-based payment transactions of the Company For cash-settled share-based payments, a financial liability is recognized for the employee services acquired, measured initially at the fair value of the liability. At the end of each reporting period until the liability is settled, and at the date of settlement, the fair value of the liability is remeasured, with any changes in fair value recognized in profit or loss for the year. (iii) Social security fund Full-time employees of the Group are covered by a government-mandated defined contribution plan pursuant to which a fixed amount of retirement benefit would be determined and paid by the Macao government. Contributions are generally made by both employees and employers by paying a fixed amount on a monthly basis to the Social Security Fund Contribution managed by the Macao government. The Group funds the entire contribution and has no further commitments beyond its monthly contributions. (iv) Annual leave and other paid leave Employee entitlement to annual leave is recognized when it accrues to employees. A provision is made for the estimated liability for annual leave as a result of services rendered by employees during the year. Employee entitlements to maternity leave and sick leave are not recognized until the time of leave. (v) Termination benefits Termination benefits are payable when employment is terminated by the Group before the normal retirement date, or whenever an employee accepts voluntary redundancy in exchange for these benefits. The Group recognizes termination benefits at the earlier of when the Group can no longer withdraw the offer of the termination benefits and when it recognizes any related restructuring costs. In the case of an offer made to encourage voluntary redundancy, the termination benefits are measured based on the number of employees expected to accept the offer. Benefits falling due more than twelve months after the balance sheet date are discounted to their present value. (vi) Bonus plans The Group recognizes a liability and an expense for bonuses where contractually obliged or where there is a past practice that has created a constructive obligation.
Description of accounting policy for provisions [text block]	Provisions Provisions are recognized when: the Group has a present legal or constructive obligation as a result of past events; it is probable an outflow of resources will be required to settle the obligation; and the amount has been reliably estimated. Provisions are not recognized for future operating losses. Provisions are measured at the present value of management’s best estimate of the expenditure to be required to settle the present obligation at the reporting date. The pre-tax discount rate used to determine the present value reflects current market assessments of the time value of money and the risks specific to the liability. The increase in the provision due to the passage of time is recognized as interest expense.
Description of accounting policy for contingent liabilities and contingent assets [text block]	Contingent liabilities A contingent liability is a possible obligation that arises from past events and whose existence will only be confirmed by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the Group. It can also be a present obligation arising from past events that is not recognized because it is not probable an outflow of economic resources will be required or the amount of the obligation cannot be measured reliably. A contingent liability is not recognized but is disclosed in the notes to the consolidated financial statements unless the probability of outflow of resources embodying economic benefits is remote. When a change in the probability of an outflow occurs so the outflow is probable, it will then be recognized as a provision.
Description of accounting policy for recognition of revenue [text block]	Revenue recognition Revenue from contracts with customers primarily consists of casino wagers, room sales, food and beverage transactions, convention sales and entertainment and ferry ticket sales. These contracts can be written, oral or implied by customary business practices. Gross casino revenue is the aggregate of gaming wins and losses. The commissions rebated to junket operators and premium players for rolling play, cash discounts and other cash incentives to patrons related to gaming play are recorded as a reduction to gross casino revenue. Gaming contracts include a performance obligation to honor the patron’s wager and typically include a performance obligation to provide a product or service to the patron on a complimentary basis to incentivize gaming or in exchange for points earned under the Group’s loyalty programs. For wagering contracts that include complimentary products and services provided by the Group to incentivize gaming, the Group allocates the relative stand-alone selling price of each product and service to the respective revenue type. Complimentary products or services provided under the Group’s control and discretion, which are supplied by third parties, are recorded as an operating expense. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (u) Revenue recognition (continued) For wagering contracts that include products and services provided to a patron in exchange for points earned under the Group’s loyalty programs, the Group allocates the estimated fair value of the points earned to the loyalty program liability. The loyalty program liability is a deferral of revenue until redemption occurs. Upon redemption of loyalty program points for Group-owned products and services, the stand-alone selling price of each product or service is allocated to the respective revenue type. For redemptions of points with third parties, the redemption amount is deducted from the loyalty program liability and paid directly to the third party. Any discounts received by the Group from the third party in connection with this transaction are recorded to other revenue. After allocation to the other revenue types for products and services provided to patrons as part of a wagering contract, the residual amount is recorded to casino revenue as soon as the wager is settled. As all wagers have similar characteristics, the Group accounts for its gaming contracts collectively on a portfolio basis versus an individual basis. Hotel revenue recognition criteria are met at the time of occupancy. Food and beverage revenue recognition criteria are met at the time of service. Convention revenues are recognized when the related service is rendered or the event is held. Deposits for future hotel occupancy, convention space or food and beverage services contracts are recorded as deferred revenue until the revenue recognition criteria are met. Cancelation fees for convention contracts are recognized upon cancelation by the customer and are included in other revenues. Ferry and entertainment revenue recognition criteria are met at the completion of the ferry trip or event, respectively. Revenue from contracts with a combination of these services is allocated pro rata based on each service’s relative stand-alone selling price. The Group’s accounting policy for recognition of revenue from operating leases is described in the accounting policy for leases/right-of-use below.
Description of accounting policy for pre-opening expenses	Pre-opening expensesPre-opening expenses represent personnel and other costs incurred prior to the opening of new properties and are expensed as incurred.
Description of accounting policy for leases [text block]	Leases/right-of-use As the lessee for operating leases (before application of IFRS 16 on January 1, 2019) Leases in which a significant portion of the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases (net of any incentives received from the lessor) are charged to the consolidated income statement on a straight-line basis over the period of the lease. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (w) Leases/right-of-use (continued) As the lessee for finance leases (before application of IFRS 16 on January 1, 2019) The Group leases land and certain equipment. Leases of land and equipment where the Group has substantially all the risks and rewards of ownership are classified as finance leases. Finance leases are recognized at the leases’ commencement at the lower of the fair value of the leased assets and the present value of the minimum lease payments. Each lease payment is allocated between the liability and finance charges. The corresponding rental obligations, net of finance charges, are included in borrowings. The interest element of the finance cost is charged to the consolidated income statement over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The land and equipment acquired under a finance lease are depreciated over the shorter of the useful life of the asset and the lease term. Assets acquired pursuant to finance leases that transfer to the Group substantially all the rewards and risks of ownership are accounted for as if purchased. As the lessee for leases (upon application of IFRS 16 on January 1, 2019) The Group leases various land, real estate, vehicles, and equipment. The Group determines if a contract is or contains a lease at the inception or modification of a contract. A contract is, or contains a lease if the contract conveys a right to control the use of an identified asset for a period of time in exchange for consideration. Control over the use of the identified asset means the lessee has both (a) the right to obtain substantially all of the economic benefits from the use of the asset and (b) the right to direct the use of the asset. The Group’s lease arrangements have lease and non-lease components. The Group applies the practical expedient to account for the lease components and any associated non-lease components as a single lease component for all classes of underlying assets. The Group applies the recognition exemption for leases with an expected term of 12 months or less and leases of low-value assets. These leases are not accounted for on the balance sheet and the related lease expense is recognized on a straight-line basis over the expected lease term. The lease liability is initially measured at the present value of fixed lease payments over the expected lease term at commencement date. As the implicit rate is not determinable in most of the Group’s leases, management uses the incremental borrowing rate based on the information available at commencement date in determining the present value of future payments. The expected lease terms include options to extend the lease when it is reasonably certain the Group will exercise such extension option or to terminate the lease when it is reasonably certain the Group will not exercise such termination option. 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (w) Leases/right-of-use (continued) As the lessee for leases (upon application of IFRS 16 on January 1, 2019) (continued) Variable rents that do not depend on an index or rate are not included in the measurement of the lease liability and the right-of-use asset. The related payments are recognized as an expense in the period in which the event or condition that triggers those payments occurs. Lease payments are allocated between principal and finance cost. The finance cost is charged to profit or loss over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. The right-of-use asset is initially measured at cost comprising the amount of the initial measurement of lease liability with adjustments, if any, at commencement date, any lease payments made at or before the commencement date less any lease incentives received, any initial indirect costs, and restoration costs. Right-of-use assets are generally depreciated over the shorter of the asset’s useful life and the lease term on a straight-line basis. It is subsequently measured at cost less accumulated depreciation and impairment losses, and adjusted for certain remeasurements of the lease liabilities. As the lessor/grantor for leases/right-of-use (before and after the application of IFRS 16 on January 1, 2019) Lessor accounting remains largely unchanged under the new standard. The Group leases space at several of its integrated resorts to various third parties as part of its mall operations, as well as retail and office space. Leases for which the Group is a lessor are classified as a finance or operating lease. Whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee, the contract is classified as a finance lease. All other leases are classified as operating leases. Leases, in which the Group is the lessor, are substantially all accounted for as operating leases and the lease components and non-lease components are accounted for separately. When assets are leased/granted out under an agreement for the right-of-use, the asset is included in the consolidated balance sheet based on the nature of the asset. Lease rental/income from right-of-use (net of any incentives given to tenants or to retailers) is recognized over the terms of the lease/right-of-use on a straight-line basis. Turnover fees arising under operating leases/right-of-use are recognized as income in the period in which they are earned.
Description of accounting policy for dividends [text block]	Dividend distributionsDividend distributions to the Company’s Shareholders are recognized as a liability in the Group’s and the Company’s financial statements in the period in which the dividends are approved by the Company’s Shareholders or directors, where appropriate.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	12 Months Ended
Summary of Significant Accounting Policies (Tables)	Dec. 31, 2019
Disclosure of significant accounting policies [Abstract]
Disclosure of initial application of standards or interpretations - IFRS 15	Effect on the consolidated income statement for the year ended December 31, 2017: For the year ended December 31, 2017 as previously stated Effects of IFRS 15 Reclassification (Note) For the year ended December 31, 2017 as restated (US$ in millions) Net revenues $ 7,715 $ (129) $ — $ 7,586 Gaming promoter/agency commissions (135) 127 8 — Other expenses, gains and losses (915) 2 (8) (921) Note: Amount represented agency commissions. As the amount was immaterial, it was reclassified to “Other expenses, gains and losses” for the purpose of presenting the consolidated income statement.
Disclosure of initial application of standards or interpretations - IFRS 9	Effect on the consolidated retained earnings as of January 1, 2018 is as follows: Note (US$ in millions) Closing retained earnings as of December 31, 2017 - IAS 39 $ 2,864 Decrease in carrying amount of bank loan measured at amortized cost (i) 24 Opening retained earnings as of January 1, 2018 - IFRS 9 $ 2,888
Disclosure of initial application of standards or interpretations - IFRS 16	The impact on transition is summarized below: December 31, Impact on transition January 1, 2019 (US$ in millions) Right-of-use assets comprise of: Investment properties - Leasehold interests in land $ 44 $ — $ 44 Property and equipment, net - Leasehold interests in land 552 — 552 Property and equipment, net - Other 4 6 10 Lease liabilities comprise of: Current liabilities - Borrowings $ 10 $ 4 $ 14 Non-current liabilities - Borrowings 125 2 127 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (CONTINUED) (b) Changes in accounting policies and disclosures (continued) IFRS 16 Leases (continued) The Group has already recognized an asset and a related finance lease liability for finance lease arrangements and prepaid lease payments for leasehold interests in land where the Group was a lessee under IAS 17, therefore the additional right-of-use assets and lease liabilities recognized upon adoption for leases previously classified as operating leases were US$6 million. The weighted average incremental borrowing rate applied to lease liabilities recognized in the consolidated balance sheet at January 1, 2019 was 3.9%. (US$ in millions) Operating lease commitments disclosed as at December 31, 2018 $ 7 Discounted using the incremental borrowing rate as at January 1, 2019 7 Add: Finance lease liabilities recognized as at December 31, 2018 135 Recognition exemption for: Short-term leases and leases of low-value assets (1) Lease liabilities recognized as at January 1, 2019 $ 141
Estimated useful lives of assets	Property and equipment are depreciated as follows: Leasehold interests in land classified as leases 50 years Leasehold improvements Shorter of lease term or 3 years Land improvements, buildings and building improvements 10–50 years Leased buildings and equipment Lease term Ferries 20 years Furniture, fittings and equipment 3–20 years Vehicles 5–6 years

Net Revenues (Tables)

Net Revenues (Tables)	12 Months Ended
Net Revenues (Tables)	Dec. 31, 2019
Disclosure of revenue from contracts with customers [Abstract]
Revenue disaggregated by type of revenue and property	Revenue disaggregated by type of revenue and property is as follows: Casino Rooms Mall (ii) Food and beverage Convention, ferry, retail and other Net revenues (US$ in millions) Year ended December 31, 2017 The Venetian Macao $ 2,362 $ 179 $ 220 $ 74 $ 89 $ 2,924 Sands Cotai Central 1,433 291 63 102 27 1,916 The Parisian Macao 1,120 128 66 61 20 1,395 The Plaza Macao 391 34 131 28 3 587 Sands Macao 574 19 — 27 6 626 Ferry and other operations — — — — 153 153 Inter-segment revenues (i) — — (1) — (14) (15) $ 5,880 $ 651 $ 479 $ 292 $ 284 $ 7,586 Year ended December 31, 2018 The Venetian Macao $ 2,829 $ 223 $ 234 $ 81 $ 107 $ 3,474 Sands Cotai Central 1,622 331 69 102 29 2,153 The Parisian Macao 1,265 124 57 65 22 1,533 The Plaza Macao 502 39 145 29 4 719 Sands Macao 598 17 3 27 5 650 Ferry and other operations — — — — 151 151 Inter-segment revenues (i) — — (1) — (14) (15) $ 6,816 $ 734 $ 507 $ 304 $ 304 $ 8,665 Year ended December 31, 2019 The Venetian Macao $ 2,875 $ 222 $ 254 $ 73 $ 86 $ 3,510 Sands Cotai Central 1,541 320 71 97 23 2,052 The Parisian Macao 1,376 130 53 70 21 1,650 The Plaza Macao 650 41 151 31 4 877 Sands Macao 576 18 3 27 4 628 Ferry and other operations — — — — 106 106 Inter-segment revenues (i) — — (1) — (14) (15) $ 7,018 $ 731 $ 531 $ 298 $ 230 $ 8,808 Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2. (i) Inter-segment revenues are charged at prevailing market rates. (ii) Of this amount, US$406 million and US$73 million for the year ended December 31, 2017, US$436 million and US$71 million for the year ended December 31, 2018, and US$456 million and US$75 million for the year ended December 31, 2019 are related to income from right-of-use and management fee and other, respectively. Income from right-of-use is recognized in accordance with IAS 17 Leases for the years ended December 31, 2017 and 2018 and IFRS 16 Leases for the year ended December 31, 2019. All other revenue are recognized in accordance with IFRS 15 Revenue from contracts with customers .
Contract and contract related liabilities	The following table summarizes the liability activity related to contracts with customers: Outstanding Chips Liability Loyalty Program Liability Customer Deposits and Other Deferred Revenue (i) 2018 2019 2018 2019 2018 2019 (US$ in millions) Balance at January 1 $ 418 $ 514 $ 30 $ 33 $ 424 $ 497 Balance at December 31 514 485 33 31 497 395 Increase (decrease) $ 96 $ (29) $ 3 $ (2) $ 73 $ (102) (i) Of this amount, US$121 million, US$127 million and US$129 million as of January 1, 2018, December 31, 2018, and December 31, 2019, respectively, relates to mall deposits that are accounted for based on lease terms usually greater than one year.

Segment Information (Tables)

Segment Information (Tables)	6 Months Ended	12 Months Ended
Segment Information (Tables)	Jun. 30, 2020	Dec. 31, 2019
Disclosure of entity's operating segments [Abstract]
Disclosure of operating segments	The Group’s segment information is as follows: Casino Rooms Mall (ii), (iii) Food and beverage Convention, ferry, retail and other Total net revenues (US$ in millions) (Unaudited) Net Revenues Six months ended June 30, 2020 The Venetian Macao $ 256 $ 22 $ 47 $ 6 $ 12 $ 343 Sands Cotai Central 124 27 16 9 4 180 The Parisian Macao 85 14 10 6 3 118 The Plaza Macao 91 5 26 4 — 126 Sands Macao 69 3 1 2 1 76 Ferry and other operations — — — — 13 13 Inter-segment revenues (i) — — (1) — (7) (8) $ 625 $ 71 $ 99 $ 27 $ 26 $ 848 Six months ended June 30, 2019 The Venetian Macao $ 1,438 $ 110 $ 118 $ 39 $ 46 $ 1,751 Sands Cotai Central 803 161 32 50 14 1,060 The Parisian Macao 730 64 27 35 12 868 The Plaza Macao 335 20 62 16 2 435 Sands Macao 280 9 2 14 2 307 Ferry and other operations — — — — 55 55 Inter-segment revenues (i) — — (1) — (7) (8) $ 3,586 $ 364 $ 240 $ 154 $ 124 $ 4,468 (i) Inter-segment revenues are charged at prevailing market rates. (ii) Of this amount, US$64 million and US$35 million (six months ended June 30, 2019: US$203 million and US$37 million) are related to income from right of use and management fee and other, respectively. Income from right of use is recognized in accordance with IFRS 16 Leases . (iii) For the six months ended June 30, 2020, rent concessions of US$135 million were provided to tenants as a result of the COVID-19 Pandemic and the impact on mall operations. 4. SEGMENT INFORMATION (CONTINUED) Six months ended June 30, 2020 2019 (US$ in millions) (Unaudited) Adjusted property EBITDA (i) The Venetian Macao $ (48) $ 697 Sands Cotai Central (79) 377 The Parisian Macao (84) 302 The Plaza Macao 10 168 Sands Macao (32) 83 Ferry and other operations (10) (2) Total adjusted property EBITDA (243) 1,625 Share-based compensation, net of amount capitalized (ii) (8) (7) Corporate expense (iii) (28) (66) Pre-opening expense (5) (10) Depreciation and amortization (338) (364) Net foreign exchange gains 20 12 Loss on disposal of property and equipment, investment properties and intangible assets (7) (3) Operating (loss) profit (609) 1,187 Interest income 9 21 Interest expense, net of amounts capitalized (116) (147) (Loss) profit before income tax (716) 1,061 Income tax benefit — 6 (Loss) profit for the period attributable to equity holders of the Company $ (716) $ 1,067 (i) Adjusted property EBITDA, which is a non-IFRS financial measure, is profit or loss attributable to equity holders of the Company before share-based compensation, corporate expense, pre-opening expense, depreciation and amortization, net foreign exchange gains or losses, impairment loss on property and equipment, gain or loss on disposal of property and equipment, investment properties and intangible assets, interest, gain or loss on modification or early retirement of debt and income tax benefit or expense. Management utilizes adjusted property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation. Integrated resort companies have historically reported adjusted property EBITDA as a supplemental performance measure to IFRS financial measures. In order to view the operations of their properties on a more stand-alone basis, integrated resort companies, including the Group, have historically excluded certain expenses that do not relate to the management of specific properties, such as pre-opening expense and corporate expense, from their adjusted property EBITDA calculations. Adjusted property EBITDA should not be interpreted as an alternative to profit or operating profit (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with IFRS. The Group has significant uses of cash flow, including capital expenditures, dividend payments, interest payments, debt principal repayments and income taxes, which are not reflected in adjusted property EBITDA. Not all companies calculate adjusted property EBITDA in the same manner. As a result, adjusted property EBITDA as presented by the Group may not be directly comparable to other similarly titled measures presented by other companies. (ii) The amount comprises of US$6 million equity-settled shared-base payment expense, net of amounts capitalized and US$2 million cash-settled share-based payment expense, net of amounts capitalized (six months ended June 30, 2019: US$7 million and nil respectively). (iii) The amount excludes share-based payment expense of US$1 million (six months ended June 30, 2019: nil). 4. SEGMENT INFORMATION (CONTINUED) Six months ended June 30, 2020 2019 (US$ in millions) (Unaudited) Depreciation and amortization The Venetian Macao $ 87 $ 79 Sands Cotai Central 118 164 The Parisian Macao 84 79 The Plaza Macao 30 19 Sands Macao 13 13 Ferry and other operations 6 10 $ 338 $ 364 Six months ended June 30, 2020 2019 (US$ in millions) (Unaudited) Capital expenditures The Venetian Macao $ 66 $ 38 Sands Cotai Central 368 107 The Parisian Macao 7 14 The Plaza Macao 127 59 Sands Macao 3 6 Ferry and other operations — 1 $ 571 $ 225 June 30, December 31, 2020 2019 (US$ in millions) (Unaudited) (Audited) Total assets The Venetian Macao $ 3,052 $ 3,236 Sands Cotai Central 4,046 4,531 The Parisian Macao 2,253 2,372 The Plaza Macao 1,257 1,255 Sands Macao 268 323 Ferry and other operations 459 383 $ 11,335 $ 12,100	The Group’s segment information is as follows: Year ended December 31, 2017 2018 2019 (US$ in millions) Net revenues The Venetian Macao $ 2,924 $ 3,474 $ 3,510 Sands Cotai Central 1,916 2,153 2,052 The Parisian Macao 1,395 1,533 1,650 The Plaza Macao 587 719 877 Sands Macao 626 650 628 Ferry and other operations 153 151 106 Inter-segment revenues (i) (15) (15) (15) $ 7,586 $ 8,665 $ 8,808 Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2. (i) Inter-segment revenues are charged at prevailing market rates. 5. SEGMENT INFORMATION (CONTINUED) The following is a reconciliation of Adjusted Property EBITDA to profit for the year attributable to equity holders of the Company: Year ended December 31, 2017 2018 2019 Note (US$ in millions) Adjusted Property EBITDA (Unaudited) (i) The Venetian Macao $ 1,137 $ 1,378 $ 1,407 Sands Cotai Central 633 759 726 The Parisian Macao 412 484 544 The Plaza Macao 233 262 345 Sands Macao 174 178 175 Ferry and other operations 22 18 (4) Total Adjusted Property EBITDA 2,611 3,079 3,193 Share-based compensation, net of amount capitalized (ii) (12) (13) (14) Corporate expense 5(a) (120) (125) (129) Pre-opening expense 5(b) (7) (5) (23) Depreciation and amortization (676) (655) (706) Net foreign exchange (losses) gains 7(a) (11) 4 35 Impairment loss on property and equipment 3(b) — — (65) Loss on disposal of property and equipment, investment properties and intangible assets 7(a) (12) (131) (16) Operating profit 1,773 2,154 2,275 Interest income 5 20 38 Interest expense, net of amounts capitalized (153) (225) (280) Loss on modification or early retirement of debt — (81) — Profit before income tax 1,625 1,868 2,033 Income tax (expense) benefit (22) 7 — Profit for the year attributable to equity holders of the Company $ 1,603 $ 1,875 $ 2,033 (i) Adjusted Property EBITDA, which is a non-IFRS financial measure, is profit or loss attributable to equity holders of the Company before share-based compensation, corporate expense, pre-opening expense, depreciation and amortization, net foreign exchange gains or losses, impairment loss on property and equipment, gain or loss on disposal of property and equipment, investment properties and intangible assets, interest, gain or loss on modification or early retirement of debt and income tax benefit or expense. Management utilizes Adjusted Property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation. Gaming companies have historically reported Adjusted Property EBITDA as a supplemental performance measure to IFRS financial measures. In order to view the operations of their casinos on a more stand-alone basis, gaming companies, including the Group, have historically excluded certain expenses that do not relate to the management of specific casino properties, such as pre-opening expense and corporate expense, from their Adjusted Property EBITDA calculations. Adjusted Property EBITDA should not be interpreted as an alternative to profit or operating profit (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with IFRS. The Group has significant uses of cash flow, including capital expenditures, dividend payments, interest payments and debt principal repayments, which are not reflected in Adjusted Property EBITDA. Not all companies calculate Adjusted Property EBITDA in the same manner. As a result, Adjusted Property EBITDA as presented by the Group may not be directly comparable to other similarly titled measures presented by other companies. (ii) The amount comprises of equity settled share-based payment expense, net of amounts capitalized and cash settled share-based payment expense, net of amounts capitalized amounting to US$12 million and nil, US$13 million and nil, and US$13 million and US$1 million for the years ended December 31, 2017, 2018 and 2019, respectively. 5. SEGMENT INFORMATION (CONTINUED) (a) Corporate expense Year ended December 31, 2017 2018 2019 Note (US$ in millions) Royalty fees 27(a)(v) $ 98 $ 106 $ 110 Management fees 6 6 5 Employee benefit expenses 6 7 7 Other support services 4 3 4 Other expenses 6 3 3 $ 120 $ 125 $ 129 (b) Pre-opening expense Year ended December 31, 2017 2018 2019 (US$ in millions) Utilities and operating supplies $ 2 $ 2 $ — Management fees 1 — — Employee benefit expenses — 1 9 Contract labor and services — 1 3 Advertising and promotions — — 9 Other support services 3 1 1 Other expenses 1 — 1 $ 7 $ 5 $ 23 Year ended December 31, 2017 2018 2019 (US$ in millions) Depreciation and amortization The Venetian Macao $ 151 $ 146 $ 159 Sands Cotai Central 239 274 299 The Parisian Macao 204 163 161 The Plaza Macao 36 33 40 Sands Macao 31 24 27 Ferry and other operations 15 15 20 $ 676 $ 655 $ 706 5. SEGMENT INFORMATION (CONTINUED) Year ended December 31, 2017 2018 2019 (US$ in millions) Capital expenditures The Venetian Macao $ 152 $ 179 $ 131 Sands Cotai Central 84 130 276 The Parisian Macao 204 130 32 The Plaza Macao 22 63 296 Sands Macao 10 29 16 Ferry and other operations 5 1 3 $ 477 $ 532 $ 754 December 31, 2018 2019 (US$ in millions) Total assets The Venetian Macao $ 3,447 $ 3,236 Sands Cotai Central 4,378 4,531 The Parisian Macao 2,489 2,372 The Plaza Macao 913 1,255 Sands Macao 328 323 Ferry and other operations 503 383 $ 12,058 $ 12,100

Employee Benefits Expenses (I_2

Employee Benefits Expenses (Including Directors' Emoluments) (Tables)	12 Months Ended
	Dec. 31, 2019
Disclosure of employee benefits [Abstract]
Employee Benefits Expense	Year ended December 31, 2017 2018 2019 (US$ in millions) Wages, salaries, bonus and termination costs $ 1,048 $ 1,096 $ 1,145 Staff meals 57 55 57 Pension costs - defined contribution plan 37 38 40 Share-based compensation, net of amount capitalized (i) 12 13 14 Other employee benefit expenses 39 36 36 $ 1,193 $ 1,238 $ 1,292 (i) Share-based compensation of nil, US$1 million and US$1 million was capitalized during the years ended December 31, 2017, 2018 and 2019, respectively. For further information related to the Company’s equity award plan and LVS’ equity award plan, see Note 28 to the consolidated financial statements.
Directors' Emoluments	The remuneration of the Company’s Directors is as follows: Fees Salaries Discretionary bonuses (i) Pension costs Estimated money value of other benefits (ii) Total (US$ in thousands) Year ended December 31, 2017 Executive Directors Sheldon Gary Adelson $ — $ — $ — $ — $ — $ — Wong Ying Wai — 2,334 1,497 116 637 4,584 Non-Executive Directors Robert Glen Goldstein — — — — — — Charles Daniel Forman 150 — — — — 150 Independent Non-Executive Directors Chiang Yun 150 — — — — 150 Victor Patrick Hoog Antink 180 — — — — 180 Steven Zygmunt Strasser 180 — — — — 180 Kenneth Patrick Chung 150 — — — — 150 Wang Sing (iii) 70 — — — — 70 $ 880 $ 2,334 $ 1,497 $ 116 $ 637 $ 5,464 6. EMPLOYEE BENEFIT EXPENSES (INCLUDING DIRECTORS’ EMOLUMENTS) (CONTINUED) (b) Directors’ emoluments (continued) Fees Salaries Discretionary bonuses (i) Pension costs Estimated money value of other benefits (ii) Total (US$ in thousands) Year ended December 31, 2018 Executive Directors Sheldon Gary Adelson $ — $ — $ — $ — $ — $ — Wong Ying Wai — 2,337 1,494 117 667 4,615 Non-Executive Directors Robert Glen Goldstein — — — — — — Charles Daniel Forman 150 — — — — 150 Independent Non-Executive Directors Chiang Yun 150 — — — — 150 Victor Patrick Hoog Antink 180 — — — — 180 Steven Zygmunt Strasser 180 — — — — 180 Kenneth Patrick Chung 150 — — — — 150 Wang Sing (iii) 117 — — — — 117 $ 927 $ 2,337 $ 1,494 $ 117 $ 667 $ 5,542 Fees Salaries Discretionary bonuses (i) Pension costs Estimated money value of other benefits (ii) Total (US$ in thousands) Year ended December 31, 2019 Executive Directors Sheldon Gary Adelson $ — $ — $ — $ — $ — $ — Wong Ying Wai — 2,350 1,502 117 618 4,587 Non-Executive Directors Robert Glen Goldstein — — — — — — Charles Daniel Forman 150 — — — — 150 Independent Non-Executive Directors Chiang Yun 150 — — — — 150 Victor Patrick Hoog Antink 180 — — — — 180 Steven Zygmunt Strasser 180 — — — — 180 Kenneth Patrick Chung 150 — — — — 150 $ 810 $ 2,350 $ 1,502 $ 117 $ 618 $ 5,397 (i) The discretionary bonuses are determined by reference to the individual performance of the Directors and the Chief Executives and the Group’s performance, and approved by the Remuneration Committee. (ii) Other benefits mainly include share-based compensation, accommodation, meals, home visit travel costs and medical insurance. (iii) Wang Sing was appointed as an Independent Non-Executive Director with effect from July 14, 2017 and resigned as an Independent Non-Executive Director with effect from October 11, 2018.
Emoluments for Non-Director Highest Paid Individuals	The emoluments payable to the remaining four individuals for the years ended December 31, 2017, 2018 and 2019, are as follows: Year ended December 31, 2017 2018 2019 (US$ in thousands) Basic salaries, allowances and benefits in kind $ 5,462 $ 5,496 $ 5,501 Bonus 2,980 2,551 3,858 Pension costs 191 191 219 $ 8,633 $ 8,238 $ 9,578
Number of Non-Director Highest Paid Individuals	The emoluments of the above mentioned individuals fall within the following bands: Year ended December 31, 2017 2018 2019 (Number of individuals) HK$13,000,001 (approximately US$1,669,000) – 1 1 — HK$15,500,001 (approximately US$1,990,000) – — 1 — HK$16,000,001 (approximately US$2,054,000) – — 1 2 HK$16,500,001 (approximately US$2,119,000) – 1 — — HK$17,500,001 (approximately US$2,247,000) – — — 1 HK$18,000,001 (approximately US$2,311,000) – 1 — — HK$18,500,001 (approximately US$2,375,000) – 1 — — HK$19,000,001 (approximately US$2,440,000) – — 1 — HK$24,500,001 (approximately US$3,146,000) – — — 1 4 4 4

Other Expenses, Gains and Los_2

Other Expenses, Gains and Losses (Tables)	12 Months Ended
Other Expenses, Gains and Losses (Tables)	Dec. 31, 2019
Analysis of income and expense [abstract]
Operating expenses 1	An analysis of the operating expenses is as follows: Year ended December 31, 2017 2018 2019 (US$ in millions) Gaming tax $ 2,925 $ 3,430 $ 3,421 Employee benefit expenses 1,193 1,238 1,292 Depreciation and amortization 676 655 706 Inventories consumed 98 99 97 Other expenses, gains and losses (i) 921 1,089 1,017 Operating expenses $ 5,813 $ 6,511 $ 6,533 Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2. (i) Analysis of other expenses, gains and losses is as follows: Year ended December 31, 2017 2018 2019 Note (US$ in millions) Utilities and operating supplies $ 200 $ 207 $ 195 Contract labor and services 141 151 152 Advertising and promotions 116 124 129 Royalty fees 103 112 113 Repairs and maintenance 83 93 85 Management fees (1) 42 50 47 Provision for doubtful accounts, net 4 — — Provision for expected credit losses, net — 9 24 Operating lease expense 30 15 — Lease payments for which the recognition exemption is applied and variable lease payments not included in lease liabilities 14(c) — — 8 Auditor's remuneration 2 2 2 Loss on disposal of property and equipment, investment properties and intangible assets (2) 12 131 16 Impairment loss on property and equipment (3) 3(b) — — 65 Net foreign exchange losses (gains) 11 (4) (35) Other support services 111 100 101 Other operating expenses 66 99 115 $ 921 $ 1,089 $ 1,017 (1) Total management fees includes amounts charged by third parties and charged by related parties, net of amounts capitalized of US$22 million and US$20 million, US$23 million and US$27 million, and US$24 million and US$23 million for the years ended December 31, 2017, 2018 and 2019, respectively. (2) The loss on disposal of property and equipment, investment properties and intangible assets for the year ended December 31, 2018 primarily consisted of a loss of US$128 million on asset disposals related to the preparation of the construction site for The Grand Suites at Four Seasons. (3) The impairment loss for the year ended December 31, 2019 resulted from the decrease in volume of passengers in our ferry operations. For details refer to Note 3(b).
Operating expenses 2	The operating expenses can also be analyzed as follows: Year ended December 31, 2017 2018 2019 (US$ in millions) Casino $ 3,646 $ 4,216 $ 4,226 Rooms 176 185 190 Mall 53 53 55 Food and beverage 241 252 258 Convention, ferry, retail and other 209 212 178 Provision for doubtful accounts, net 4 — — Provision for expected credit losses, net — 9 24 General and administrative expense 657 672 698 Corporate expense 121 125 129 Pre-opening expense 7 5 23 Depreciation and amortization 676 655 706 Loss on disposal of property and equipment, investment properties and intangible assets 12 131 16 Impairment loss on property and equipment — — 65 Net foreign exchange losses (gains) 11 (4) (35) Operating expenses $ 5,813 $ 6,511 $ 6,533 Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.

Interest Expense, Net of Amou_2

Interest Expense, Net of Amounts Capitalized (Tables)	12 Months Ended
Interest Expense, Net of Amounts Capitalized (Tables)	Dec. 31, 2019
Disclosure of interest expense [Abstract]
Interest expense	Year ended December 31, 2017 2018 2019 (US$ in millions) Bank borrowings $ 117 $ 85 $ — Senior Notes — 103 253 Amortization of deferred financing costs 21 22 15 Finance lease liabilities 7 8 — Lease liabilities — — 8 Standby fee and other financing costs 10 11 13 155 229 289 Less: interest capitalized (2) (4) (9) Interest expense, net of amounts capitalized $ 153 $ 225 $ 280

Income Tax Expense (Benefit) (T

Income Tax Expense (Benefit) (Tables)	6 Months Ended	12 Months Ended
Income Tax Expense (Benefit) (Tables)	Jun. 30, 2020	Dec. 31, 2019
Major components of tax expense (income) [abstract]
Components of income tax expense (benefit)	Six months ended June 30, 2020 2019 (US$ in millions) (Unaudited) Current income tax Lump sum in lieu of Macao complementary tax on dividends $ 2 $ 2 Deferred income tax (2) (8) Income tax benefit $ — $ (6)	Year ended December 31, 2017 2018 2019 (US$ in millions) Current income tax Lump sum in lieu of Macao complementary tax on dividends $ 5 $ 5 $ 5 Other overseas taxes 1 — — Deferred income tax expense (benefit) 16 (12) (5) Income tax expense (benefit) $ 22 $ (7) $ —
Effective income tax rate reconciliation		The tax on the Group’s profit before income tax differs from the theoretical amount that would arise using the domestic tax rates applicable to profits of the consolidated entities in the respective jurisdictions as follows: Year ended December 31, 2017 2018 2019 (US$ in millions) Profit before income tax $ 1,625 $ 1,868 $ 2,033 Tax calculated at domestic rates applicable to profits in the respective jurisdictions 208 238 261 Tax effects of : Income not subject to tax (i) (837) (905) (966) Expenses not deductible for tax purposes (i), (ii) 549 574 603 Amortization of pre-opening expenses previously not recognized (9) (3) (1) Origination and reversal of temporary difference, net 20 4 4 Tax losses for which no deferred income tax assets were recognized 87 80 95 Lump sum in lieu of Macao complementary tax of dividends 5 5 5 Other (1) — (1) Income tax expense (benefit) $ 22 $ (7) $ — (i) For the years ended December 31, 2017, 2018 and 2019, VML was exempt from Macao complementary tax on its gaming activities (see also Note 9(a)). In addition, lease/right-of-use income recorded in VML, Venetian Cotai Limited (“VCL”) and Venetian Orient Limited (“VOL”) were subject to property tax (Note (ii)), and should, therefore, also be excluded from Macao complementary tax calculations. Accordingly, casino revenues and lease/right-of-use income and their corresponding expenses incurred were presented as “Income not subject to tax” and “Expenses not deductible for tax purposes,” respectively, in the calculations above.

(Loss) Earnings Per Share (Tabl

(Loss) Earnings Per Share (Tables)	6 Months Ended	12 Months Ended
(Loss) Earnings Per Share (Tables)	Jun. 30, 2020	Dec. 31, 2019
(Loss) Earnings per share [Abstract]
(Loss) Earnings Per Share	The calculation of basic and diluted (loss) earnings per share is based on the following: Six months ended June 30, 2020 2019 (Unaudited) (Loss) profit attributable to equity holders of the Company (US$ in $ (716) $ 1,067 Weighted average number of shares for basic (loss) earnings per 8,088,743 8,082,946 Adjustment for share options (thousand shares) (i) — 5,686 Weighted average number of shares for diluted (loss) earnings 8,088,743 8,088,632 (Loss) earnings per share, basic (ii) (US8.85 cents) US13.20 cents (Loss) earnings per share, basic (HK68.59 cents) HK103.16 cents (Loss) earnings per share, diluted (ii) (US8.85 cents) US13.19 cents (Loss) earnings per share, diluted (HK68.59 cents) HK103.08 cents (i) The computation of the diluted loss per share for the six months ended June 30, 2020 did not assume the exercise of the Company’s share options because the exercise would result in a decrease in loss per share. For the six months ended June 30, 2019, the Company had outstanding share options that will potentially dilute the ordinary shares. (ii) The translation of US$ amounts into HK$ amounts has been made at the exchange rate of US$1.00 to HK$7.7504 (six months ended June 30, 2019: US$1.00 to HK$7.8152).	The calculation of basic and diluted earnings per share is based on the following: Year ended December 31, 2017 2018 2019 Profit attributable to equity holders of the Company (US$ in millions) $ 1,603 $ 1,875 $ 2,033 Weighted average number of shares for basic earnings per share (thousand shares) 8,072,709 8,078,946 8,085,149 Adjustments for share options (thousand shares) 4,544 7,328 5,057 Weighted average number of shares for diluted earnings per share (thousand shares) 8,077,253 8,086,274 8,090,206 Earnings per share, basic US19.86 cents US23.21 cents US25.14 cents Earnings per share, basic (i) HK155.22 cents HK181.75 cents HK195.79 cents Earnings per share, diluted US19.85 cents US23.19 cents US25.13 cents Earnings per share, diluted (i) HK155.14 cents HK181.59 cents HK195.71 cents (i) The translation of US$ amounts into HK$ amounts has been made at the exchange rate on December 31, 2017, 2018 and 2019 of US$1.00 to HK$7.8157, US$1.00 to HK$7.8306 and US$1.00 to HK$7.7879, respectively.

Dividends (Tables)

Dividends (Tables)	6 Months Ended	12 Months Ended
Dividends (Tables)	Jun. 30, 2020	Dec. 31, 2019
Disclosure of dividends [Abstract]
Disclosure of dividends	Six months ended June 30, 2020 2019 (US$ in millions) (Unaudited) 2019 interim dividend of HK$0.99 (equivalent to US$0.127) per ordinary share declared on January 17, 2020 and paid $ 1,025 $ — 2018 interim dividend of HK$0.99 (equivalent to US$0.127) per ordinary share declared on January 18, 2019 and paid — 1,023 2018 final dividend of HK$1.00 (equivalent to US$0.127) per ordinary share declared on May 24, 2019 and paid — 1,031 $ 1,025 $ 2,054	Year ended December 31, 2017 2018 2019 2017 interim dividend of HK$0.99 (equivalent to US$0.127) per ordinary share declared on January 19, 2018 and paid $ 1,023 $ — $ — 2017 final dividend of HK$1.00 (equivalent to US$0.127) per ordinary share declared on May 25, 2018 and paid 1,030 — — 2018 interim dividend of HK$0.99 (equivalent to US$0.127) per ordinary share declared on January 18, 2019 and paid — 1,023 — 2018 final dividend of HK$1.00 (equivalent to US$0.127) per ordinary share declared on May 24, 2019 and paid — 1,031 — 2019 interim dividend of HK$0.99 (equivalent to US$0.127) per ordinary share declared on January 17, 2020 and paid — — 1,025 $ 2,053 $ 2,054 $ 1,025

Investment Properties, Net (Tab

Investment Properties, Net (Tables)	12 Months Ended
Investment Properties, Net (Tables)	Dec. 31, 2019
Disclosure of detailed information about investment property [abstract]
Disclosure of detailed information about investment property	Total (US$ in millions) At January 1, 2018 Cost $ 1,626 Accumulated depreciation (315) At January 1, 2018 1,311 Year ended December 31, 2018 Opening net book amount 1,311 Additions 62 Adjustments to project costs 5 Disposals (92) Transfers (i) (609) Depreciation (45) Exchange difference (3) Closing net book amount 629 At January 1, 2019 Cost 988 Accumulated depreciation (359) At January 1, 2019 $ 629 Year ended December 31, 2019 Opening net book amount $ 629 Additions 6 Transfers 6 Depreciation (57) Exchange difference 3 Closing net book amount 587 At December 31, 2019 Cost 1,004 Accumulated depreciation (417) At December 31, 2019 $ 587 (i) Pursuant to IAS 40 Investment Property , an entity shall transfer a property to/or from investment property when and only when there is a change in use. Subsequent to the Board’s approval in October 2017 to introduce approximately 370 new suites in the Londoner Court and approximately 290 new suites in The Grand Suites at Four Seasons, observable actions have taken place to support management’s intention to convert the Londoner Court and The Grand Suites at Four Seasons to owner-occupied assets. As a result, during the year ended December 31, 2018, the assets pertaining to the Londoner Court and The Grand Suites at Four Seasons with an aggregate carrying amount of US$609 million were transferred from investment properties to property and equipment.
Fair value of investment properties	Valuations were based on income and an open market value approach for all completed properties as follows: December 31, 2018 2019 (US$ in millions) Fair value of the investment properties $ 8,243 $ 8,354
Disclosure of income statement amounts related to investment properties	Amounts recognized in profit or loss for investment properties Year ended December 31, 2017 2018 2019 (US$ in millions) Mall income $ 479 $ 507 $ 531 Direct operating expenses arising from investment properties that generate right-of-use income $ 55 $ 51 $ 50 Direct operating expenses that did not generate right-of-use income $ 2 $ 5 $ 5
Leasing arrangements	The future aggregate minimum lease/base fee receivables under non-cancelable agreements are as follows: December 31, 2018 2019 (US$ in millions) No later than 1 year $ 331 $ 361 1 to 2 years 257 289 2 to 3 years 188 205 3 to 4 years 124 67 4 to 5 years 33 42 Later than 5 years 59 47 $ 992 $ 1,011

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
Property and Equipment, Net (Tables)	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [abstract]
Disclosure of detailed information about property and equipment	The movements of property and equipment for the year are as follows: Leasehold interests in land Land improvements Buildings and building improvements Leasehold improvements Vehicles Ferries Furniture, fittings & equipment Construction-in-progress Total (US$ in millions) At January 1, 2018 Cost $ 596 $ 381 $ 8,510 $ 7 $ 40 $ 251 $ 1,724 $ 93 $ 11,602 Accumulated depreciation (111) (134) (2,301) (6) (32) (117) (1,214) — (3,915) At January 1, 2018 $ 485 $ 247 $ 6,209 $ 1 $ 8 $ 134 $ 510 $ 93 $ 7,687 Year ended December 31, 2018 Opening net book amount $ 485 $ 247 $ 6,209 $ 1 $ 8 $ 134 $ 510 $ 93 $ 7,687 Additions 10 1 2 — 3 — 98 385 499 Adjustments to project costs — — (5) — — — 3 (6) (8) Disposals — (4) (34) — — — (4) (1) (43) Transfers 69 13 725 — — — 114 (312) 609 Depreciation (12) (14) (421) — (4) (12) (135) — (598) Exchange difference — — (11) — — — (1) — (12) Closing net book amount $ 552 $ 243 $ 6,465 $ 1 $ 7 $ 122 $ 585 $ 159 $ 8,134 At January 1, 2019 Cost $ 675 $ 389 $ 9,161 $ 7 $ 43 $ 251 $ 1,904 $ 159 $ 12,589 Accumulated depreciation (123) (146) (2,696) (6) (36) (129) (1,319) — (4,455) At January 1, 2019 $ 552 $ 243 $ 6,465 $ 1 $ 7 $ 122 $ 585 $ 159 $ 8,134 Year ended December 31, 2019 Opening net book amount $ 552 $ 243 $ 6,465 $ 1 $ 7 $ 122 $ 585 $ 159 $ 8,134 IFRS 16 transition adjustment — — 6 — — — — — 6 Restated balance, beginning of period $ 552 $ 243 $ 6,471 $ 1 $ 7 $ 122 $ 585 $ 159 $ 8,140 Additions — 3 7 1 35 — 89 768 903 Adjustments to project costs — — — — — — 1 (13) (12) Disposals — — (1) — — — (3) (4) (8) Transfers — 5 265 — — — 143 (419) (6) Impairment — — — — — (65) — — (65) Depreciation (12) (9) (442) (1) (6) (12) (151) — (633) Exchange difference — 1 35 — — — 3 3 42 Closing net book amount $ 540 $ 243 $ 6,335 $ 1 $ 36 $ 45 $ 667 $ 494 $ 8,361 At December 31, 2019 Cost $ 675 $ 399 $ 9,377 $ 7 $ 63 $ 252 $ 2,082 $ 494 $ 13,349 Accumulated depreciation (135) (156) (3,042) (6) (27) (207) (1,415) — (4,988) At December 31, 2019 $ 540 $ 243 $ 6,335 $ 1 $ 36 $ 45 $ 667 $ 494 $ 8,361
Equipment Under Finance Leases	As at December 31, 2018, equipment included the following amounts where the Group was the lessee under finance leases: December 31, 2018 (US$ in millions) Cost $ 14 Accumulated depreciation (10) Net book amount $ 4

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2019
Disclosure of quantitative information about leases for lessee [abstract]
Future Minimum Lease Payments	As at December 31, 2018, the Group had future aggregate minimum lease payments under non-cancelable operating leases for property and equipment as follows: December 31, 2018 (US$ in millions) No later than 1 year $ 5 Later than 1 year and no later than 5 years 2 $ 7
Right-of-Use Assets under IFRS 16	The movements of right-of-use assets included within property and equipment, net are as follows: Property and equipment - Leasehold interests in land Property and equipment, net - Other Investment properties - Leasehold interests in land Total Right-of-use assets (US$ millions) At December 31, 2018 Cost $ 675 $ 14 $ 56 $ 745 Accumulated depreciation (123) (10) (12) (145) At December 31, 2018 $ 552 $ 4 $ 44 $ 600 At January 1, 2019 Opening net book amount $ 552 $ 4 $ 44 $ 600 IFRS 16 transition adjustment — 6 — 6 Restated balance, beginning of period $ 552 $ 10 $ 44 $ 606 Additions — 20 — 20 Depreciation (12) (9) (1) (22) Closing net book amount $ 540 $ 21 $ 43 $ 604 At December 31, 2019 Cost $ 675 $ 32 $ 56 $ 763 Accumulated depreciation (135) (11) (13) (159) At December 31, 2019 $ 540 $ 21 $ 43 $ 604
Minimum Lease Payments and Present Value of the Minimum Lease Payments Under Finance Lease Obligations for Land	The future minimum lease payments (including interest) and the present value of the minimum lease payments under finance lease obligations for land were as follows: December 31, 2018 (US$ in millions) Minimum finance lease payments: No later than 1 year $ 8 Later than 1 year and no later than 2 years 5 Later than 2 years and no later than 5 years 16 Later than 5 years 312 341 Future finance charges on finance lease obligations (211) Present value of finance lease liabilities $ 130 Present value of minimum finance lease payments: No later than 1 year $ 8 Later than 1 year and no later than 2 years 5 Later than 2 years and no later than 5 years 12 Later than 5 years 105 $ 130
Finance Lease Liabilities Minimum Lease Payments and Present Value of the Minimum Lease Payments Under Finance Lease Obligations for Equipment	The future minimum lease payments (including interest) and the present value of the minimum lease payments under finance lease obligations for equipment were as follows: December 31, 2018 (US$ in millions) Minimum finance lease payments: No later than 1 year $ 2 Later than 1 year and no later than 2 years 2 Later than 2 years and no later than 5 years 1 5 Future finance charges on finance lease obligations — Present value of finance lease liabilities $ 5 Present value of minimum finance lease payments: No later than 1 year $ 2 Later than 1 year and no later than 2 years 2 Later than 2 years and no later than 5 years 1 $ 5
Lease Liabilities under IFRS 16	The lease liabilities included within borrowings are as follows: January 1, December 31, (US$ in millions) Current liabilities - Borrowings $ 14 $ 19 Non-current liabilities - Borrowings 127 128 Total lease liabilities $ 141 $ 147
Disclosure of Depreciation on Right of Use Assets and Interest on Lease Liabilities	Year ended December 31, (US$ in millions) Depreciation charge of right-of-use: Investment properties, net - Leasehold interests in land $ 1 Property and equipment, net - Leasehold interests in land 12 Property and equipment, net - other 9 $ 22 Interest expense on lease liabilities $ 8 Expense relating to short-term leases for which the recognition exemption is applied 2 Expense relating to low-value items for which the recognition exemption is applied 1 Expense relating to variable lease payments not included in lease liabilities 5 $ 38

Financial Instruments by Cate_2

Financial Instruments by Category (Tables)	12 Months Ended
Financial Instruments by Category (Tables)	Dec. 31, 2019
Disclosure of detailed information about financial instruments [abstract]
Disclosure of financial assets	December 31, 2018 2019 Note (US$ in millions) Financial Assets Amortized cost: Trade and other receivables, net 18 $ 427 $ 456 Restricted cash and cash equivalents 13 15 Cash and cash equivalents 19 2,676 2,471 Deposits 3 3 3,119 2,945 FVTPL: Derivative financial instruments 24 15 34 Total $ 3,134 $ 2,979
Disclosure of financial liabilities	December 31, 2018 2019 Note (US$ in millions) Financial Liabilities Amortized cost: Trade and other payables 22 $ 1,635 $ 1,459 Borrowings 23 5,562 5,608 Total $ 7,197 $ 7,067

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	12 Months Ended
Intangible Assets, Net (Tables)	Dec. 31, 2019
Disclosure of detailed information about intangible assets [abstract]
Disclosure of intangible assets	Computer software (US$ in millions) At January 1, 2018 Cost $ 88 Accumulated amortization (54) At January 1, 2018 $ 34 Year ended December 31, 2018 Opening net book amount $ 34 Additions 24 Amortization (12) Closing net book amount $ 46 At December 31, 2018 Cost $ 112 Accumulated amortization (66) At December 31, 2018 $ 46 Year ended December 31, 2019 Opening net book amount $ 46 Additions 18 Amortization (16) Closing net book amount $ 48 At December 31, 2019 Cost $ 130 Accumulated amortization (82) At December 31, 2019 $ 48

Deferred Income Tax Liabiliti_2

Deferred Income Tax Liabilities (Tables)	12 Months Ended
Deferred Income Tax Liabilities (Tables)	Dec. 31, 2019
Changes in deferred tax liability (asset) [abstract]
Movements of deferred tax liabilities	The movements of the deferred tax liabilities are as follows: Accelerated depreciation allowance (US$ in millions) At January 1, 2018 $ (62) Credit for the year 12 At December 31, 2018 (50) Credit for the year 5 At December 31, 2019 $ (45)
Unrecognized deferred tax assets	The unrecognized deferred income tax assets in respect of losses that can be carried forward against future taxable income and pre-opening expenses are as follows: December 31, 2018 2019 (US$ in millions) Arising from unused tax losses $ 270 $ 283 Arising from pre-opening expenses 6 4 $ 276 $ 287

Trade and Other Receivables a_2

Trade and Other Receivables and Prepayments, Net (Tables)	6 Months Ended	12 Months Ended
Trade and Other Receivables and Prepayments, Net (Tables)	Jun. 30, 2020	Dec. 31, 2019
Trade and other receivables [abstract]
Disclosure of detailed information about trade and other receivables and prepayments		December 31, 2018 2019 Note (US$ in millions) Trade receivables $ 461 $ 506 Less: provision for expected credit losses (94) (106) Trade receivables, net 18(a) 367 400 Other receivables 60 56 Prepayments 41 49 Deferred rent 81 81 Less: amortization of deferred rent (46) (50) provision for doubtful deferred rent (4) (3) Prepayments, net 72 77 Trade and other receivables and prepayments, net 499 533 Less: non-current portion: prepayments (3) (6) deferred rent (19) (17) (22) (23) Current portion $ 477 $ 510 Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.
Trade and other receivables by currency		The trade and other receivables, net of provision for expected credit losses, are denominated in the following currencies: December 31, 2018 2019 (US$ in millions) HK$ $ 341 $ 386 US$ 57 52 MOP 29 18 $ 427 $ 456
Trade receivables aging	The aging analysis of trade receivables, net of provision for expected credit losses of US$112 million (as at December 31, 2019: US$106 million), is as follows: June 30, December 31, 2020 2019 (US$ in millions) (Unaudited) (Audited) 0–30 days $ 107 $ 259 31–60 days 4 42 61–90 days 2 26 Over 90 days 116 73 $ 229 $ 400	The aging analysis of trade receivables, net of provision for expected credit losses, is as follows: December 31, 2018 2019 (US$ in millions) 0 - 30 days $ 236 $ 259 31 - 60 days 39 42 61 - 90 days 28 26 Over 90 days 64 73 $ 367 $ 400
Disclosure of credit risk exposure		The following table provides information about the exposure to credit risk for trade receivables which are assessed based on provision matrix as at December 31, 2018 and 2019 within lifetime ECL. December 31, 2018 2019 Provision matrix – debtors' aging Average loss rate (US$ in millions) Current (not past due) — $ 86 $ 169 1-90 days past due 2% - 10% 102 97 91-360 days past due 15% - 25% 56 62 More than 360 days past due 50% - 100% 50 58 $ 294 $ 386
Movements of Lifetime Expected Credit Losses		The following table shows the movement in lifetime ECL that has been recognized for trade receivables under the simplified approach. December 31, 2018 2019 (US$ in millions) At beginning of year $ 111 $ 94 Provision for expected credit losses, net 7 24 Amounts written-off (24) (13) Exchange difference — 1 At end of year $ 94 $ 106

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	12 Months Ended
Cash and Cash Equivalents (Tables)	Dec. 31, 2019
Cash and cash equivalents [abstract]
Disclosure of detailed information about cash and cash equivalents	December 31, 2018 2019 (US$ in millions) Cash at bank and on hand $ 503 $ 585 Short-term bank deposits 2,173 1,886 $ 2,676 $ 2,471
Cash and cash equivalents by currency	The cash and cash equivalents are denominated in the following currencies: December 31, 2018 2019 (US$ in millions) HK$ $ 1,497 $ 1,712 US$ 1,066 639 MOP 82 82 Singapore dollar 10 15 Japanese Yen 13 14 RMB 8 9 $ 2,676 $ 2,471

Share Capital (Tables)

Share Capital (Tables)	6 Months Ended	12 Months Ended
Share Capital (Tables)	Jun. 30, 2020	Dec. 31, 2019
Disclosure of classes of share capital [abstract]
Disclosure of detailed information about classes of share capital	Ordinary shares of US$0.01 each (US$ in millions) Issued and fully paid: At January 1, 2019 (audited) 8,080,603,691 $ 81 Shares issued upon exercise of share options 6,091,900 — At June 30, 2019 (unaudited) 8,086,695,591 81 At January 1, 2020 (audited) 8,088,352,216 81 Shares issued upon exercise of share options 714,900 — At June 30, 2020 (unaudited) 8,089,067,116 $ 81	Ordinary shares of US$0.01 each (US$ in millions) Authorized At January 1, 2017, December 31, 2017, December 31, 2018 and December 31, 2019 16,000,000,000 $ 160 Issued and fully paid At January 1, 2017 8,071,130,245 $ 81 Shares issued upon exercise of share options 3,287,521 — At December 31, 2017 8,074,417,766 81 Shares issued upon exercise of share options 6,185,925 — At December 31, 2018 8,080,603,691 81 Shares issued upon exercise of share options 7,748,525 — At December 31, 2019 8,088,352,216 $ 81

Trade and Other Payables (Table

Trade and Other Payables (Tables)	6 Months Ended	12 Months Ended
Trade and Other Payables (Tables)	Jun. 30, 2020	Dec. 31, 2019
Trade and other payables [abstract]
Disclosure of detailed information about trade and other payables	June 30, December 31, 2020 2019 (US$ in millions) Notes (Unaudited) (Audited) Trade payables $ 22 $ 47 Customer deposits and other deferred revenue (i) 421 395 Outstanding chips liability (i) 382 485 Construction payables and accruals 283 278 Interest payables 138 130 Accrued employee benefit expenses 96 174 Other tax payables 31 302 Loyalty program liability (i) 30 31 Casino liabilities 24 41 Payables to related companies ― non-trade 14(b) 8 9 Other payables and accruals 54 104 1,489 1,996 Less: non-current portion (119) (122) Current portion $ 1,370 $ 1,874 (i) These balances represent the Group’s main types of liabilities associated with contracts with customers. With the exception of mall deposits, which typically extend beyond a year based on the terms of the lease, these liabilities are generally expected to be recognized as revenue or redeemed for cash within one year of being purchased, earned or deposited.	December 31, Note 2018 2019 (US$ in millions) Trade payables $ 33 $ 47 Outstanding chips liability (i) 4 514 485 Customer deposits and other deferred revenue (i) 4 497 395 Other tax payables 325 302 Construction payables and accruals 147 278 Accrued employee benefit expenses 155 174 Interest payables 125 130 Casino liabilities 67 41 Loyalty program liability (i) 4 33 31 Payables to related companies - non-trade 27(b) 9 9 Other payables and accruals 127 104 2,032 1,996 Less: non-current portion (104) (122) Current portion $ 1,928 $ 1,874 (i) These balances represent the Group’s main types of liabilities associated with contracts with customers.
Trade and other payables by currency		The monetary trade and other payables are denominated in the following currencies: December 31, 2018 2019 (US$ in millions) HK$ $ 997 $ 832 MOP 483 475 US$ 145 137 Other currencies 10 15 $ 1,635 $ 1,459
Trade payables aging	The aging analysis of trade payables based on invoice date is as follows: June 30, December 31, 2020 2019 (US$ in millions) (Unaudited) (Audited) 0–30 days $ 17 $ 33 31–60 days 2 6 61–90 days 1 6 Over 90 days 2 2 $ 22 $ 47	The aging analysis of trade payables based on invoice date is as follows: December 31, 2018 2019 (US$ in millions) 0-30 days $ 27 $ 33 31-60 days 3 6 61-90 days 2 6 Over 90 days 1 2 $ 33 $ 47

Borrowings (Tables)

Borrowings (Tables)	6 Months Ended	12 Months Ended
Borrowings (Tables)	Jun. 30, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [abstract]
Disclosure of detailed information about borrowings	June 30, December 31, 2020 2019 (US$ in millions) (Unaudited) (Audited) Non-current portion Senior Notes, unsecured $ 7,013 $ 5,535 Lease liabilities 127 128 7,140 5,663 Less: deferred financing costs (86) (74) 7,054 5,589 Current portion Lease liabilities 19 19 Total borrowings $ 7,073 $ 5,608	December 31, 2018 2019 (US$ in millions) Non-current portion Senior Notes, unsecured $ 5,515 $ 5,535 Finance lease liabilities on leasehold interests in land 122 — Lease liabilities — 128 Other finance lease liabilities 3 — 5,640 5,663 Less: deferred financing costs (88) (74) 5,552 5,589 Current portion Finance lease liabilities on leasehold interests in land 8 — Lease liabilities — 19 Other finance lease liabilities 2 — 10 19 Total borrowings $ 5,562 $ 5,608
Borrowings by currency		The Group’s borrowings are denominated in the following currencies: December 31, 2018 2019 (US$ in millions) US$ $ 5,427 $ 5,461 MOP 135 130 HK$ — 17 $ 5,562 $ 5,608
Senior notes by maturity		The contractual maturities of Senior Notes are as follows: December 31, 2018 2019 (US$ in millions) Repayable over 2 years but not exceeding 5 years $ 1,800 $ 1,800 Repayable over 5 years 3,700 3,700 5,500 5,500 Fair value adjustment of the interest rate swaps 15 35 $ 5,515 $ 5,535
Disclosure of reconciliation of liabilities arising from financing activities		The table below details changes in the Group’s liabilities arising from financing activities, including both cash and non-cash changes. Liabilities arising from financing activities are those for which cash flows were, or future cash flows will be, classified in the Group’s consolidated statement of cash flows as cash flows from financing activities. Bank loans (i) Finance lease liabilities on leasehold interest in land Other finance lease liabilities Deferred financing costs Interest payables Dividend payables Total (US$ in millions) Balance as at January 1, 2017 $ 4,388 $ 72 $ 8 $ (94) $ 47 $ — $ 4,421 Financing cash flows (19) (2) (3) — (128) (2,067) (2,219) Non-cash changes: Accruals — — — — 134 2,069 2,203 Amortization — — — 21 — — 21 Foreign exchange movement (21) — — — — (2) (23) True-up adjustment — (1) — — — — (1) Adjustment arising from change in lease term of leasehold interests in land — 63 — — (48) — 15 Balance as at December 31, 2017 $ 4,348 $ 132 $ 5 $ (73) $ 5 $ — $ 4,417 Bank loans (i) Senior Notes Finance lease liabilities on leasehold interest in land Other finance lease liabilities Deferred financing costs Interest payables Dividend payables Total (US$ in millions) Balance as at January 1, 2018 $ 4,348 $ — $ 132 $ 5 $ (73) $ 5 $ — $ 4,417 Adjustments arising from adoption of IFRS 9 — — — — (24) — — (24) Restated opening balance 4,348 — 132 5 (97) 5 — 4,393 Financing cash flows (4,337) 5,500 (13) (2) (90) (128) (2,052) (1,122) Non-cash changes: Accruals — — 11 2 (2) 248 2,053 2,312 Amortization — — — — 22 — — 22 Foreign exchange movement (11) — — — — — (1) (12) Loss on modification or early retirement of debt — — — — 79 — — 79 Fair value adjustment of the interest rate swaps — 15 — — — — — 15 Balance as at December 31, 2018 $ — $ 5,515 $ 130 $ 5 $ (88) $ 125 $ — $ 5,687 Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019. (i) The cash flows from bank loans make up the net amount of proceeds from bank loans and repayments of bank loans in the statement of cash flows. 23. BORROWINGS (CONTINUED) Reconciliation of liabilities arising from financing activities (continued) Senior Notes Lease liabilities Deferred financing costs Interest payables Dividend payables Total (US$ in millions) Balance as at January 1, 2019 $ 5,515 $ 135 $ (88) $ 125 $ — $ 5,687 Adjustments arising from adoption of IFRS 16 — 6 — — — 6 Restated opening balance 5,515 141 (88) 125 — 5,693 Financing cash flows — (13) (2) (274) (2,051) (2,340) Non-cash changes: Interest rate swap interest income unsettled — — — 5 — 5 Accruals — 19 1 274 2,054 2,348 Amortization — — 15 — — 15 Foreign exchange movement — — — — (3) (3) Fair value adjustment of the interest rate swaps 20 — — — — 20 Balance as at December 31, 2019 $ 5,535 $ 147 $ (74) $ 130 $ — $ 5,738

Note to Consolidated Statements

Note to Consolidated Statements of Cash Flows (Tables)	12 Months Ended
Note to Consolidated Statements of Cash Flows (Tables)	Dec. 31, 2019
Statement of cash flows [abstract]
Cash generated from operations	Cash generated from operations is as follows: Year ended December 31, 2017 2018 2019 (US$ in millions) Profit before income tax $ 1,625 $ 1,868 $ 2,033 Adjustments for: Interest income (5) (20) (38) Interest and other finance costs 132 203 265 Depreciation and amortization 676 655 706 Amortization of deferred financing costs 21 22 15 Amortization of deferred rent 15 15 13 Amortization of other assets 3 3 3 Loss on disposal of property and equipment, investment properties and intangible assets 12 131 16 Impairment loss on property and equipment — — 65 Loss on modification or early retirement of debt — 81 — Provision for doubtful accounts, net 4 — — Provision for expected credit losses, net — 9 24 Equity-settled share-based compensation expense, net of amounts capitalized 12 13 13 Net foreign exchange losses (gains) 11 (5) (34) Changes in working capital: Other assets (1) (1) (5) Inventories (1) 1 (2) Trade and other receivables and prepayments 37 (180) (65) Trade and other payables 91 260 (191) Cash generated from operations $ 2,632 $ 3,055 $ 2,818

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended	12 Months Ended
Related Party Transactions (Tables)	Jun. 30, 2020	Dec. 31, 2019
Disclosure of transactions between related parties [abstract]
Management fee income		Management fee income Year ended December 31, 2017 2018 2019 (US$ in millions) LVS $ 1 $ 1 $ — Intermediate holding companies 1 — — Fellow subsidiaries 3 4 5 $ 5 $ 5 $ 5
Management fee expense		Management fee expense Year ended December 31, 2017 2018 2019 (US$ in millions) LVS $ 14 $ 20 $ 19 Fellow subsidiaries 6 7 7 $ 20 $ 27 $ 26
Related party balances	Period-end balances between the Group and related companies June 30, December 31, 2020 2019 (US$ in millions) Notes (Unaudited) (Audited) Receivables from related companies: Fellow subsidiaries $ — $ 2 Payables to related companies: LVS 8 3 Intermediate holding company — 5 Fellow subsidiaries — 1 11 $ 8 $ 9	Year-end balances between the Group and related companies December 31, 2018 2019 (US$ in millions) Receivables from related companies: Fellow subsidiary $ — $ 2 The receivables from related companies are unsecured, interest free and have a credit term of 45 days. December 31, 2018 2019 Note (US$ in millions) Payables to related companies: LVS $ 4 $ 3 Intermediate holding company 4 5 Fellow subsidiaries 1 1 22 $ 9 $ 9

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
Share-Based Compensation (Tables)	Dec. 31, 2019
Disclosure of share-based payment arrangements [Abstract]
Summary of share option activity	A summary of the share option activity for the Company’s 2009 Equity Award Plan is presented below: Year Ended December 31, 2017 2018 2019 Number of options Weighted average exercise price (US$) Number of options Weighted average exercise price (US$) Number of options Weighted average exercise price (US$) Outstanding at January 1 38,185 $ 4.48 48,252 $ 4.39 57,382 $ 4.81 Granted 17,364 4.23 18,873 5.62 19,410 5.08 Exercised (3,287) 3.61 (6,186) 3.74 (7,749) 3.65 Forfeited (4,010) 5.20 (3,557) 5.24 (4,169) 5.35 Outstanding at December 31 48,252 4.39 57,382 4.81 64,874 4.99 Exercisable at December 31 14,608 $ 5.02 18,152 $ 5.00 22,214 $ 5.10
Disclosure of range of exercise prices of outstanding share options	The range of exercise prices and the weighted average remaining contractual life of the above share options outstanding as at the dates indicated are as follows: December 31, 2017 2018 2019 Range of exercise prices Number of options outstanding Weighted average remaining contractual life Number of options outstanding Weighted average remaining contractual life Number of options outstanding Weighted average remaining contractual life 1.01 - 2.00 893 2.30 811 1.29 210 0.42 2.01 - 3.00 470 3.74 283 2.80 76 1.86 3.01 - 4.00 19,311 7.79 14,805 6.94 11,045 5.88 4.01 - 5.00 20,108 8.76 18,673 8.00 16,092 7.41 5.01 - 6.00 592 5.82 15,991 9.01 31,292 8.65 6.01 - 7.00 1,868 6.56 2,227 7.26 2,023 6.42 7.01 - 8.00 2,972 6.28 2,554 5.29 2,098 4.32 8.01 - 9.00 2,038 6.21 2,038 5.21 2,038 4.21 48,252 7.82 57,382 7.64 64,874 7.49
Disclosure of indirect measurement of fair value of goods or services received, share options granted during period	The fair value of each option grant was estimated on the grant date using the Black-Scholes option-pricing model with the following weighted average assumptions: Year ended December 31, 2017 2018 2019 Expected volatility 36.9 % 36.0 % 36.9 % Expected life (years) 4.4 4.7 4.8 Risk-free annual interest rate 1.3 % 1.7 % 1.7 % Expected dividends 6.6 % 5.8 % 5.0 % Weighted average share price at the date of grant (US$) 4.23 5.58 5.06 Weighted average exercise price (US$) 4.23 5.62 5.08 Weighted average fair value of each share option granted by the Company (US$) 0.71 1.01 1.03
Disclosure of number and weighted average exercise prices of other equity instruments (Part 1)	Summaries of the unvested restricted share units under the 2009 Equity Award Plan are presented below: Year Ended December 31, 2017 2018 Number of restricted share units Weighted average grant date fair value Number of restricted Weighted average grant date fair value Equity-settled Unvested at January 1 852 $ 7.51 — $ — Modified to cash-settled (852) 7.51 — — Unvested at December 31 — $ — — $ — 28. SHARE-BASED COMPENSATION (CONTINUED) (b) Restricted share units of the Company (continued) Year Ended December 31, 2017 2018 Number of restricted Weighted average grant date fair value Number of restricted Weighted average grant date fair value Cash-settled Unvested at January 1 236 $ 7.13 852 $ 7.51 Modified from equity-settled 852 7.51 — — Vested (236) 7.13 (852) 7.51 Unvested at December 31 852 $ 7.51 — $ —
Disclosure of number and weighted average exercise prices of other equity instruments (Part 2)	A summary of the restricted share units under the 2009 Equity Award Plan for the year ended December 31, 2019 is presented below: Number of restricted Weighted average grant date fair value Unvested at January 1, 2019 — $ — Granted 1,412 4.99 Vested — — Forfeited (5) 4.99 Unvested at December 31, 2019 1,407 $ 4.99
Summary of share option activity, LVSC Equity Plan	A summary of the share option activity for the 2004 Plan operated by LVS is presented below: Year Ended December 31, 2017 2018 2019 Number of options Weighted average exercise price (US$) Number of options Weighted average exercise price (US$) Number of options Weighted average exercise price (US$) Outstanding at January 1 357 71.20 198 72.83 57 69.00 Granted 34 63.13 23 77.44 42 57.05 Exercised (34) 51.09 (62) 66.18 — — Transfer-out (i) (12) 22.90 — — — — Expired (147) 75.93 (102) 80.08 — — Outstanding at December 31 198 72.83 57 69.00 99 63.97 Exercisable at December 31 164 74.83 11 63.13 30 66.82 (i) Transfer-in and transfer-out represent movement of options owned by grantees who transferred from other subsidiaries of LVS to the Group, or vice versa.

Financial Risk Management (Tabl

Financial Risk Management (Tables)	12 Months Ended
Financial Risk Management (Tables)	Dec. 31, 2019
Disclosure of nature and extent of risks arising from financial instruments [abstract]
Disclosure of maturity analysis for financial liabilities	The Group’s financial liabilities, based on the contractual undiscounted cash flows are as follows: Within the first year In the second year In the third to fifth year Over the fifth year Total (US$ in millions) At December 31, 2018 Senior Notes principal $ — $ — $ 1,800 $ 3,700 $ 5,500 Senior Notes interests 277 277 833 698 2,085 Finance lease liabilities on leasehold interests in land 8 5 16 312 341 Other finance lease liabilities 2 2 1 — 5 Trade and other payables 1,546 22 55 12 1,635 At December 31, 2019 Senior Notes principal $ — $ — $ 1,800 $ 3,700 $ 5,500 Senior Notes interests 278 278 750 503 1,809 Lease liabilities 20 13 18 307 358 Trade and other payables 1,359 36 43 21 1,459
Disclosure of capital risk management	Total capital is calculated as equity, as shown in the consolidated balance sheet, plus net debt. December 31, 2018 2019 (US$ in millions) Interest bearing borrowings, net of deferred financing costs $ 5,427 $ 5,461 Less: cash and cash equivalents (2,676) (2,471) restricted cash and cash equivalents (13) (15) Net debt 2,738 2,975 Total equity 4,409 4,446 Total capital $ 7,147 $ 7,421 Gearing ratio 38.3 % 40.1 %

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended	12 Months Ended
Commitments and Contingencies (Tables)	Jun. 30, 2020	Dec. 31, 2019
Commitments and contingencies [Abstract]
Capital commitments	Property and equipment commitments not provided for are as follows: June 30, December 31, 2020 2019 (US$ in millions) (Unaudited) (Audited) Contracted but not provided for $ 615 $ 1,001	Significant capital expenditure on property and equipment contracted for at the end of the reporting periods but not recognized as liabilities is as follows: December 31, 2018 2019 (US$ in millions) Contracted but not provided for $ 507 $ 1,001

Company Balance Sheet (Tables)

Company Balance Sheet (Tables)	12 Months Ended
Company Balance Sheet (Tables)	Dec. 31, 2019
Disclosure of separate financial statements [Abstract]
Company balance sheet	December 31, 2018 2019 Note (US$ in millions) ASSETS Non-current assets Interests in subsidiaries $ 1,951 $ 1,129 Note receivable from a subsidiary 5,239 5,919 Other assets 15 — Other receivables and prepayments 39 — Total non-current assets 7,244 7,048 Current assets Other assets — 35 Other receivables and prepayments 64 96 Cash and cash equivalents 279 216 Total current assets 343 347 Total assets $ 7,587 $ 7,395 EQUITY Capital and reserves attributable to equity holders of the Company Share capital $ 81 $ 81 Reserves 30(a) 1,954 1,738 Total equity 2,035 1,819 LIABILITY Non-current liability Borrowings 5,427 5,461 Other payables — 1 Total non-current liabilities 5,427 5,462 Current liability Other payables 125 114 Total current liability 125 114 Total liabilities 5,552 5,576 Total equity and liability $ 7,587 $ 7,395 Net current assets $ 218 $ 233 Total assets less current liability $ 7,462 $ 7,281 Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.
Company movement of reserves	The movements of reserves during the years are as follows Capital reserve Share premium Share-based compensation reserves Currency translation reserve Retained earnings Total (US$ in millions) Balance at January 1, 2017 $ 106 $ 1,411 $ 50 $ (3) $ 634 $ 2,198 Profit for the year — — — — 1,645 1,645 Other comprehensive expense for the year — — — (11) — (11) Total comprehensive (expense) income — — — (11) 1,645 1,634 Exercise of share options — 12 — — — 12 Conversion of equity awards to liability awards — — (5) — — (5) Transfer to share premium upon exercise of share options — 5 (5) — — — Forfeiture of share options — — (3) — 3 — Share-based compensation of the Company — — 12 — — 12 Dividends to equity holders of the Company — — — — (2,069) (2,069) Balance at December 31, 2017 106 1,428 49 (14) 213 1,782 Profit for the year — — — — 2,192 2,192 Other comprehensive expense for the year — — — (4) — (4) Total comprehensive (expense) income — — — (4) 2,192 2,188 Exercise of share options — 23 — — — 23 Transfer to share premium upon exercise of share options — 6 (6) — — — Forfeiture of share options — — (4) — 4 — Share-based compensation of the Company — — 14 — — 14 Dividends to equity holders of the Company (Note 11) — — — — (2,053) (2,053) Balance at December 31, 2018 106 1,457 53 (18) 356 1,954 Profit for the year — — — — 1,792 1,792 Other comprehensive expense for the year — — — 4 — 4 Total comprehensive income — — — 4 1,792 1,796 Exercise of share options — 28 — — — 28 Transfer to share premium upon exercise of share options — 6 (6) — — — Forfeiture of share options — — (3) — 3 — Share-based compensation of the Company — — 14 — — 14 Dividends to equity holders of the Company (Note 11) — — — — (2,054) (2,054) Balance at December 31, 2019 $ 106 $ 1,491 $ 58 $ (14) $ 97 $ 1,738

Principal Subsidiaries (Tables)

Principal Subsidiaries (Tables)	12 Months Ended
Principal Subsidiaries (Tables)	Dec. 31, 2019
Disclosure of interests in other entities [Abstract]
Disclosure of interests in subsidiaries	Name Place of incorporation or establishment/ operations and date of incorporation or Principal activities Particulars of issued share/registered capital Effective interests held Directly held: Venetian Venture Cayman Islands, Investment holding US$1 100% SCL IP Holdings, LLC United States, Holder of trademark licenses As at December 31, 2017 and 2018: US$100 As at December 31, 2019: US$527,802,937.56 100% Indirectly held: Cotai Ferry Company Macao/Macao and High speed ferry transportation services MOP10,000,000 100% Cotai Strip Lot 2 Apart Macao, Hotel apartments MOP6,498,900 100% Cotai Services (HK) Hong Kong, Business support services, marketing and operation of ferry business As at December 31, 2017 and 2018: HK$1 As at December 31, 2019: HK$749,025,708.72 100% CotaiJet 1 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 2 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 3 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 4 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% 31. PRINCIPAL SUBSIDIARIES (CONTINUED) Name Place of incorporation or establishment/ operations and date of incorporation or establishment Principal Particulars of issued share/ Effective interests held CotaiJet 5 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 6 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 7 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 8 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 9 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 10 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 11 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 12 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 13 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 14 (HK) Limited Hong Kong/Macao and Hong Kong, Ferry leasing (Note (i)) HK$1 100% CotaiJet 311 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$6,423,536.85 100% CotaiJet 312 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$6,339,957.74 100% 31. PRINCIPAL SUBSIDIARIES (CONTINUED) Name Place of incorporation or establishment/ operations and date of incorporation or Principal Particulars of issued share/ Effective interests held CotaiJet 313 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$6,312,405.81 100% CotaiJet 314 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$6,486,421.42 100% CotaiJet 315 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$6,332,468.30 100% CotaiJet 316 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$6,439,507.84 100% CotaiJet 317 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$6,526,794.49 100% CotaiJet 318 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$7,936,384.02 100% CotaiJet 319 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$7,838,910.17 100% CotaiJet 320 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$6,123,939.20 100% CotaiJet 350 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$7,173,446.06 100% 31. PRINCIPAL SUBSIDIARIES (CONTINUED) Name Place of incorporation or establishment/ operations and date of incorporation or Principal Particulars of issued share/ Effective interests held CotaiJet 351 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$7,115,613.37 100% CotaiJet 352 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$7,292,634.59 100% CotaiJet 353 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$7,264,364.42 100% Cotaiwaterjet Sea Bridge 1 Ltd. Cayman Islands/Macao Pontoon leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$24,365.38 100% Cotaiwaterjet Sea Bridge 2 Ltd. Cayman Islands/Macao Pontoon leasing (Note (i)) As at December 31, 2017 and 2018: Total par value: US$1 As at December 31, 2019: Total par value: US$100 Total share premium: US$25,651.14 100% Cotaiwaterjet Sea Bridge 1 (HK) Limited Hong Kong/Macao Pontoon leasing (Note (i)) HK$1 100% Cotaiwaterjet Sea Bridge 2 (HK) Limited Hong Kong/Macao Pontoon leasing (Note (i)) HK$1 100% Sands Cotai East Holdings Limited Cayman Islands/Macao, Holder of hotel franchise agreement US$1 100% 31. PRINCIPAL SUBSIDIARIES (CONTINUED) Name Place of incorporation or establishment/ operations and date of incorporation or establishment Principal activities Particulars of issued share/ registered capital Effective interests held Sands Cotai West Cayman Islands/Macao, Holder of hotel franchise agreement US$1 100% Sands Resorts Hong Kong, Travel and tourism agency services HK$500,000 100% Sands Resorts Hong Kong, Transportation services HK$1 100% Sands Resorts Hong Kong, Transportation services HK$1 100% Sands Resorts Hong Kong, Transportation services HK$1 100% Sands Venetian Security Limited Macao, Security services MOP1,000,000 100% Venetian Cotai Hotel Management Limited Macao, Human resources administration MOP500,000 100% Venetian Cotai Limited Macao, Hotels, restaurants, shopping mall, and conference and convention MOP200,000,000 100% Venetian Macau Limited (Note (ii)) Macao, Gaming and other related activities MOP200,000,000 100% Venetian Orient Limited Macao, Hotels, restaurants, shopping mall, and conference and convention MOP100,000 100% Venetian Retail Limited Macao, Mall management MOP1,500,000 100% Venetian Travel Limited Macao, Travel and tourism agency services MOP2,400,000 100% Venetian Transportation Services Limited Macao, Transportation services and other related activities MOP25,000 100% V-HK Services Limited Hong Kong, Marketing and customer development services HK$1 100% 31. PRINCIPAL SUBSIDIARIES (CONTINUED) Name Place of incorporation or establishment/ operations and date of incorporation or Principal Particulars of issued share/ Effective interests held VML US Finance LLC (Note (iii)) United States, January 3, 2006 Financing Nil 100% Zhuhai Cotai Information Services Outsourcing Co., Ltd.(Note (iv)) China, Outsourcing services, including information technology, accounting, hotel management and marketing US$800,000 100% Zhuhai Cotai Logistics Hotel Services Co., Ltd. China, Procurement, US$4,500,000 100% Zhuhai Hengqin Cotai Information Services Co., Ltd. (Note (iv)) China, Outsourcing services, including information technology, accounting, hotel management and marketing US$2,000,000 100% Notes: (i) Each of the Cayman Islands registered companies has transferred their ferry or pontoon and related assets, respectively, to each of the Hong Kong registered companies within the Group in December 2019 as a result of a Group reorganization. These Cayman Islands companies are dissolved on March 31, 2020. (ii) 10% of the company’s issued share capital is held through an usufruct agreement whereby VVDIL has the sole and exclusive benefit. Accordingly, the profits and losses and assets and liabilities of the company have been consolidated as to 100% thereof into the consolidated financial statements. (iii) The company is dissolved on May 24, 2019. (iv) These entities are wholly foreign owned enterprises established in China.

General information - Additiona

General information - Additional Information (Details) $ in Millions	6 Months Ended				12 Months Ended
	Jun. 30, 2020USD ($)Room		Jun. 30, 2019USD ($)		Dec. 31, 2019USD ($)Room		Dec. 31, 2018USD ($)		Dec. 31, 2017USD ($)
Disclosure of general information [Line Items]
Net revenues	$ 848		$ 4,468		$ 8,808		$ 8,665		$ 7,586	[1]
Operating (loss) profit	(609)		1,187		2,275		2,154		1,773	[2]
(Loss) profit for the period attributable to equity holders of the Company	(716)		1,067		2,033		1,875		1,603	[2]
Adjusted Property EBITDA	(243)	[3]	1,625	[3]	3,193	[4]	3,079	[4]	2,611	[4]
Total liquidity	3,630
Total cash and cash equivalents, including restricted cash	1,610
2018 SCL Revolving Facility [Member]
Disclosure of general information [Line Items]
Undrawn borrowing facilities	$ 2,020				$ 2,000		2,000
The Plaza Macao [Member]
Disclosure of general information [Line Items]
Additional number of suites to be constructed \| Room					290
Number of hotel rooms \| Room	289
Net revenues	$ 126		435		$ 877		719		587	[5]
Adjusted Property EBITDA	10	[3]	168	[3]	$ 345	[4]	262	[4]	233	[4]
Sands Cotai Central [Member]
Disclosure of general information [Line Items]
Additional number of suites to be constructed \| Room					370
Net revenues	180		1,060		$ 2,052		2,153		1,916	[1]
Adjusted Property EBITDA	$ (79)	[3]	$ 377	[3]	$ 726	[4]	$ 759	[4]	$ 633	[4]
Sands Cotai Central [Member] \| The Londoner Court [Member]
Disclosure of general information [Line Items]
Additional number of suites to be constructed \| Room					370
Sands Cotai Central [Member] \| The Londoner Macao Hotel [Member]
Disclosure of general information [Line Items]
Additional number of suites to be constructed \| Room					600
Las Vegas Sands Corp. [Member] \| Sands China Ltd. [Member]
Disclosure of general information [Line Items]
Proportion of ownership interest in subsidiary	69.90%				69.95%

[1]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[2]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[3]	Adjusted property EBITDA, which is a non-IFRS financial measure, is profit or loss attributable to equity holders of the Company before share-based compensation, corporate expense, pre-opening expense, depreciation and amortization, net foreign exchange gains or losses, impairment loss on property and equipment, gain or loss on disposal of property and equipment, investment properties and intangible assets, interest, gain or loss on modification or early retirement of debt and income tax benefit or expense. Management utilizes adjusted property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation. Integrated resort companies have historically reported adjusted property EBITDA as a supplemental performance measure to IFRS financial measures. In order to view the operations of their properties on a more stand-alone basis, integrated resort companies, including the Group, have historically excluded certain expenses that do not relate to the management of specific properties, such as pre-opening expense and corporate expense, from their adjusted property EBITDA calculations. Adjusted property EBITDA should not be interpreted as an alternative to profit or operating profit (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with IFRS. The Group has significant uses of cash flow, including capital expenditures, dividend payments, interest payments, debt principal repayments and income taxes, which are not reflected in adjusted property EBITDA. Not all companies calculate adjusted property EBITDA in the same manner. As a result, adjusted property EBITDA as presented by the Group may not be directly comparable to other similarly titled measures presented by other companies.
[4]	Adjusted Property EBITDA, which is a non-IFRS financial measure, is profit or loss attributable to equity holders of the Company before share-based compensation, corporate expense, pre-opening expense, depreciation and amortization, net foreign exchange gains or losses, impairment loss on property and equipment, gain or loss on disposal of property and equipment, investment properties and intangible assets, interest, gain or loss on modification or early retirement of debt and income tax benefit or expense. Management utilizes Adjusted Property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation. Gaming companies have historically reported Adjusted Property EBITDA as a supplemental performance measure to IFRS financial measures. In order to view the operations of their casinos on a more stand-alone basis, gaming companies, including the Group, have historically excluded certain expenses that do not relate to the management of specific casino properties, such as pre-opening expense and corporate expense, from their Adjusted Property EBITDA calculations. Adjusted Property EBITDA should not be interpreted as an alternative to profit or operating profit (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with IFRS. The Group has significant uses of cash flow, including capital expenditures, dividend payments, interest payments and debt principal repayments, which are not reflected in Adjusted Property EBITDA. Not all companies calculate Adjusted Property EBITDA in the same manner. As a result, Adjusted Property EBITDA as presented by the Group may not be directly comparable to other similarly titled measures presented by other companies.
[5]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.

Disclosure of Initial Applicati

Disclosure of Initial Application of Standards or Interpretations (Details) - USD ($) $ in Millions		Jan. 01, 2018	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017		Jan. 01, 2019	Dec. 31, 2016
Disclosure of initial application of standards or interpretations [Line Items]
Net revenues			$ 848	$ 4,468	$ 8,808	$ 8,665	$ 7,586	[1]
Other expenses, gains and losses			(218)	(459)	(1,017)	(1,089)	(921)	[2]
Equity		$ 4,562	2,729	3,456	4,446	4,409	4,538			$ 5,007
Changes on initial application of IFRS 9		24
Right-of-use assets					604	600			$ 606
Current lease liabilities under IAS 17						10
Current liabilities - Borrowings			19		19				14
Non-current lease liabilities under IAS 17						125
Non-current liabilities - Borrowings			127		128				127
Operating lease commitments under IAS 17						7
Lease liabilities					147	135			141
Investment property leasehold interests in land [member]
Disclosure of initial application of standards or interpretations [Line Items]
Right-of-use assets					43	44			44
Leasehold interests in land [Member]
Disclosure of initial application of standards or interpretations [Line Items]
Right-of-use assets					540	552			552
Other property, plant and equipment [member]
Disclosure of initial application of standards or interpretations [Line Items]
Right-of-use assets					21	4			10
IFRS 16
Disclosure of initial application of standards or interpretations [Line Items]
Current liabilities - Borrowings									4
Non-current liabilities - Borrowings									2
Discounted minimum lease payments payable under non-cancellable operating lease									7
Short-term leases and leases of low-value assets									(1)
IFRS 16 \| Investment property leasehold interests in land [member]
Disclosure of initial application of standards or interpretations [Line Items]
Right-of-use assets									0
IFRS 16 \| Leasehold interests in land [Member]
Disclosure of initial application of standards or interpretations [Line Items]
Right-of-use assets									0
IFRS 16 \| Other property, plant and equipment [member]
Disclosure of initial application of standards or interpretations [Line Items]
Right-of-use assets									$ 6
Retained earnings
Disclosure of initial application of standards or interpretations [Line Items]
Equity		2,888	$ 958	$ 1,728	$ 2,696	$ 2,714	2,864			$ 3,327
Changes on initial application of IFRS 9		$ 24
Reclassification [Member]
Disclosure of initial application of standards or interpretations [Line Items]
Net revenues							0
Other expenses, gains and losses	[3]						(8)
Reclassification [Member] \| Gaming promoter or agency [Member]
Disclosure of initial application of standards or interpretations [Line Items]
Gaming promoter/agency commissions	[3]						8
Previously stated [member]
Disclosure of initial application of standards or interpretations [Line Items]
Net revenues							7,715
Other expenses, gains and losses							(915)
Previously stated [member] \| Gaming promoter or agency [Member]
Disclosure of initial application of standards or interpretations [Line Items]
Gaming promoter/agency commissions							(135)
Increase (decrease) due to application of IFRS 15 [member] \| IFRS 15
Disclosure of initial application of standards or interpretations [Line Items]
Net revenues							(129)
Other expenses, gains and losses							2
Increase (decrease) due to application of IFRS 15 [member] \| Gaming promoter or agency [Member] \| IFRS 15
Disclosure of initial application of standards or interpretations [Line Items]
Gaming promoter/agency commissions							127
As restated [Member]
Disclosure of initial application of standards or interpretations [Line Items]
Net revenues							7,586
Other expenses, gains and losses							(921)
As restated [Member] \| Gaming promoter or agency [Member]
Disclosure of initial application of standards or interpretations [Line Items]
Gaming promoter/agency commissions							$ 0

[1]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[2]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[3]	Note: Amount represented agency commissions. As the amount was immaterial, it was reclassified to “Other expenses, gains and losses” for the purpose of presenting the consolidated income statement.

Summary of Significant Accoun_4

Summary of Significant Accounting Policies - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Jun. 30, 2020	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018	Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of significant accounting policies [Line Items]
Equity	$ 4,446	$ 2,729	$ 3,456		$ 4,409	$ 4,562	$ 4,538	$ 5,007
Increase in right-of-use assets	$ 604			$ 606	$ 600
Weighted average lessee's incremental borrowing rate applied to lease liabilities recognised at date of initial application of IFRS 16					3.90%
Useful life measured as period of time, intangible assets other than goodwill	4 years
Employer matching contribution, percent of employee's salary	5.00%
Defined contribution plan vesting percentage after three years	30.00%
Defined contribution plan vesting percentage increase after ten years	100.00%
Gaming tax on gross gaming revenues [Member]
Disclosure of significant accounting policies [Line Items]
Applicable tax rate	35.00%
Additional tax on gross gaming revenues [Member]
Disclosure of significant accounting policies [Line Items]
Applicable tax rate	4.00%
Investment property [member] \| Bottom of range [member]
Disclosure of significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	3 years
Investment property [member] \| Top of range [member]
Disclosure of significant accounting policies [Line Items]
Useful life measured as period of time, property, plant and equipment	50 years
IFRS 16 \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of significant accounting policies [Line Items]
Increase in right-of-use assets				$ 6	$ 6
Retained earnings
Disclosure of significant accounting policies [Line Items]
Equity	$ 2,696	$ 958	$ 1,728		$ 2,714	$ 2,888	$ 2,864	$ 3,327

Estimated Useful Lives of Asset

Estimated Useful Lives of Assets (Details) - USD ($) $ in Millions	Jan. 01, 2018	Dec. 31, 2019
Estimated useful lives of assets [Line Items]
Changes on initial application of IFRS 9	$ 24
Increase (decrease) due to changes in accounting policy [member] \| IFRS 9 [Member]
Estimated useful lives of assets [Line Items]
Secured bank loans received	(24)
Retained earnings
Estimated useful lives of assets [Line Items]
Changes on initial application of IFRS 9	$ 24
Leasehold interests in land [Member]
Estimated useful lives of assets [Line Items]
Useful life measured as period of time, property, plant and equipment		50 years
Leasehold improvements [member]
Estimated useful lives of assets [Line Items]
Depreciation rate, property, plant and equipment		Shorter of lease term or 3 years
Land improvements, buildings and building improvements [Member] \| Bottom of range [member]
Estimated useful lives of assets [Line Items]
Useful life measured as period of time, property, plant and equipment		10 years
Land improvements, buildings and building improvements [Member] \| Top of range [member]
Estimated useful lives of assets [Line Items]
Useful life measured as period of time, property, plant and equipment		50 years
Leased buildings and equipment [member]
Estimated useful lives of assets [Line Items]
Depreciation rate, property, plant and equipment		Lease term
Ships [member]
Estimated useful lives of assets [Line Items]
Useful life measured as period of time, property, plant and equipment		20 years
Furniture, fittings and equipment [Member] \| Bottom of range [member]
Estimated useful lives of assets [Line Items]
Useful life measured as period of time, property, plant and equipment		3 years
Furniture, fittings and equipment [Member] \| Top of range [member]
Estimated useful lives of assets [Line Items]
Useful life measured as period of time, property, plant and equipment		20 years
Motor vehicles [member] \| Bottom of range [member]
Estimated useful lives of assets [Line Items]
Useful life measured as period of time, property, plant and equipment		5 years
Motor vehicles [member] \| Top of range [member]
Estimated useful lives of assets [Line Items]
Useful life measured as period of time, property, plant and equipment		6 years

Critical Accounting Estimates_2

Critical Accounting Estimates and Judgments (Details) $ / shares in Units, $ in Millions

6 Months Ended

12 Months Ended

Jun. 30, 2020USD ($)$ / shares

Jun. 30, 2020$ / shares

Jun. 30, 2019USD ($)$ / shares

Jun. 30, 2019$ / shares

Jun. 30, 2017

Dec. 31, 2019USD ($)$ / shares

Dec. 31, 2018USD ($)$ / shares

Dec. 31, 2018$ / shares

[3]

Dec. 31, 2017USD ($)$ / shares

Dec. 31, 2017$ / shares

[3]

Disclosure of detailed information about property, plant and equipment [line items]

Increase in operating profit

$ (609)

$ 1,187

$ 2,275

$ 2,154

$ 1,773

[1]

Decrease in depreciation expense

338

364

706

655

676

[1]

(Loss) profit for the period attributable to equity holders of the Company

$ (716)

$ 1,067

$ 2,033

$ 1,875

$ 1,603

[1]

(Loss) earnings per share, basic | (per share)

$ (0.0885)

[2]

$ (0.6859)

$ 0.1320

[2]

$ 1.0316

$ 0.2514

$ 1.9579

[3]

$ 0.2321

$ 1.8175

$ 0.1986

[1]

$ 1.5522

(Loss) earnings per share, diluted | (per share)

$ (0.0885)

[2]

$ (0.6859)

$ 0.1319

[2]

$ 1.0308

$ 0.2513

$ 1.9571

[3]

$ 0.2319

$ 1.8159

$ 0.1985

[1]

$ 1.5514

Impairment loss on property and equipment

$ 65

[4]

$ 0

Recoverable amount of asset

$ 51

Change in estimate of useful lives or depreciation rates, property, plant and equipment [Member]

Disclosure of detailed information about property, plant and equipment [line items]

Increase in operating profit

Decrease in depreciation expense

(89)

(Loss) profit for the period attributable to equity holders of the Company

$ 88

(Loss) earnings per share, basic | $ / shares

$ 0.0110

(Loss) earnings per share, diluted | $ / shares

$ 0.0110

Leasehold interests in land, land improvements, buildings and building improvements [Member] | Bottom of range [member]

Disclosure of detailed information about property, plant and equipment [line items]

Useful life measured as period of time, property, plant and equipment

15 years

10 years

Leasehold interests in land, land improvements, buildings and building improvements [Member] | Top of range [member]

Disclosure of detailed information about property, plant and equipment [line items]

Useful life measured as period of time, property, plant and equipment

40 years

50 years

Certain furniture, fittings and equipment [Member] | Bottom of range [member]

Disclosure of detailed information about property, plant and equipment [line items]

Useful life measured as period of time, property, plant and equipment

3 years

5 years

Certain furniture, fittings and equipment [Member] | Top of range [member]

Disclosure of detailed information about property, plant and equipment [line items]

Useful life measured as period of time, property, plant and equipment

6 years

10 years

[1]

Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.

[2]

The translation of US$ amounts into HK$ amounts has been made at the exchange rate of US$1.00 to HK$7.7504 (six months ended June 30, 2019: US$1.00 to HK$7.8152).

[3]

The translation of US$ amounts into HK$ amounts has been made at the exchange rate on December 31, 2017, 2018 and 2019 of US$1.00 to HK$7.8157, US$1.00 to HK$7.8306 and US$1.00 to HK$7.7879, respectively.

[4]

The impairment loss for the year ended December 31, 2019 resulted from the decrease in volume of passengers in our ferry operations. For details refer to Note 3(b).

Disclosure of Disaggregation of

Disclosure of Disaggregation of Revenue From Contracts With Customers (Details) - USD ($) $ in Millions	6 Months Ended				12 Months Ended
	Jun. 30, 2020		Jun. 30, 2019		Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2017
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenues	$ 848		$ 4,468		$ 8,808		$ 8,665		$ 7,586	[1]
Income from right of use	64	[2]	203	[2]	456	[3]	436	[3]	406	[3]
Management fee and other income	35	[2]	37	[2]	75	[3]	71	[3]	73	[3]
Elimination of intersegment amounts [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenues	(8)	[4]	(8)	[4]	(15)	[5]	(15)	[5]	(15)	[5],[6]
The Venetian Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenues	343		1,751		3,510		3,474		2,924	[1]
Sands Cotai Central [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenues	180		1,060		2,052		2,153		1,916	[1]
The Parisian Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenues	118		868		1,650		1,533		1,395	[1]
The Plaza Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenues	126		435		877		719		587	[6]
Sands Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenues	76		307		628		650		626	[1]
Ferry and Other Operations [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenues	13		55		106		151		153	[1]
Casino [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	625		3,586		7,018		6,816		5,880	[1]
Casino [Member] \| Elimination of intersegment amounts [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	0	[4]	0	[4]	0	[7]	0	[7]	0	[1],[7]
Casino [Member] \| The Venetian Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	256		1,438		2,875		2,829		2,362	[1]
Casino [Member] \| Sands Cotai Central [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	124		803		1,541		1,622		1,433	[1]
Casino [Member] \| The Parisian Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	85		730		1,376		1,265		1,120	[1]
Casino [Member] \| The Plaza Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	91		335		650		502		391	[1]
Casino [Member] \| Sands Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	69		280		576		598		574	[1]
Casino [Member] \| Ferry and Other Operations [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	0		0		0		0		0	[1]
Rooms [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	71		364		731		734		651	[1]
Rooms [Member] \| Elimination of intersegment amounts [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	0	[4]	0	[4]	0	[7]	0	[7]	0	[1],[7]
Rooms [Member] \| The Venetian Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	22		110		222		223		179	[1]
Rooms [Member] \| Sands Cotai Central [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	27		161		320		331		291	[1]
Rooms [Member] \| The Parisian Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	14		64		130		124		128	[1]
Rooms [Member] \| The Plaza Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	5		20		41		39		34	[1]
Rooms [Member] \| Sands Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	3		9		18		17		19	[1]
Rooms [Member] \| Ferry and Other Operations [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	0		0		0		0		0	[1]
Mall [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenues	99	[2],[8]	240	[2],[8]	531	[3]	507	[3]	479	[1],[3]
Mall [Member] \| Elimination of intersegment amounts [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenues	(1)	[2],[4],[8]	(1)	[2],[4],[8]	(1)	[3],[7]	(1)	[3],[7]	(1)	[1],[3],[7]
Mall [Member] \| The Venetian Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenues	47	[2],[8]	118	[2],[8]	254	[3]	234	[3]	220	[1],[3]
Mall [Member] \| Sands Cotai Central [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenues	16	[2],[8]	32	[2],[8]	71	[3]	69	[3]	63	[1],[3]
Mall [Member] \| The Parisian Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenues	10	[2],[8]	27	[2],[8]	53	[3]	57	[3]	66	[1],[3]
Mall [Member] \| The Plaza Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenues	26	[2],[8]	62	[2],[8]	151	[3]	145	[3]	131	[1],[3]
Mall [Member] \| Sands Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenues	1	[2],[8]	2	[2],[8]	3	[3]	3	[3]	0	[1],[3]
Mall [Member] \| Ferry and Other Operations [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Net revenues	0	[2],[8]	0	[2],[8]	0	[3]	0	[3]	0	[1],[3]
Food and Beverage [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	27		154		298		304		292	[1]
Food and Beverage [Member] \| Elimination of intersegment amounts [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	0	[4]	0	[4]	0	[7]	0	[7]	0	[1],[7]
Food and Beverage [Member] \| The Venetian Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	6		39		73		81		74	[1]
Food and Beverage [Member] \| Sands Cotai Central [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	9		50		97		102		102	[1]
Food and Beverage [Member] \| The Parisian Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	6		35		70		65		61	[1]
Food and Beverage [Member] \| The Plaza Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	4		16		31		29		28	[1]
Food and Beverage [Member] \| Sands Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	2		14		27		27		27	[1]
Food and Beverage [Member] \| Ferry and Other Operations [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	0		0		0		0		0	[1]
Convention, Ferry, Retail and Other [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	26		124		230		304		284	[1]
Convention, Ferry, Retail and Other [Member] \| Elimination of intersegment amounts [member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	(7)	[4]	(7)	[4]	(14)	[7]	(14)	[7]	(14)	[1],[7]
Convention, Ferry, Retail and Other [Member] \| The Venetian Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	12		46		86		107		89	[1]
Convention, Ferry, Retail and Other [Member] \| Sands Cotai Central [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	4		14		23		29		27	[1]
Convention, Ferry, Retail and Other [Member] \| The Parisian Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	3		12		21		22		20	[1]
Convention, Ferry, Retail and Other [Member] \| The Plaza Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	0		2		4		4		3	[1]
Convention, Ferry, Retail and Other [Member] \| Sands Macao [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	1		2		4		5		6	[1]
Convention, Ferry, Retail and Other [Member] \| Ferry and Other Operations [Member]
Disclosure of disaggregation of revenue from contracts with customers [line items]
Revenue from contracts with customers	$ 13		$ 55		$ 106		$ 151		$ 153	[1]

[1]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[2]	Of this amount, US$64 million and US$35 million (six months ended June 30, 2019: US$203 million and US$37 million) are related to income from right of use and management fee and other, respectively. Income from right of use is recognized in accordance with IFRS 16 Leases .
[3]	Of this amount, US$406 million and US$73 million for the year ended December 31, 2017, US$436 million and US$71 million for the year ended December 31, 2018, and US$456 million and US$75 million for the year ended December 31, 2019 are related to income from right-of-use and management fee and other, respectively. Income from right-of-use is recognized in accordance with IAS 17 Leases for the years ended December 31, 2017 and 2018 and IFRS 16 Leases for the year ended December 31, 2019. All other revenue are recognized in accordance with IFRS 15 Revenue from contracts with customers .
[4]	Inter-segment revenues are charged at prevailing market rates.
[5]	Inter-segment revenues are charged at prevailing market rates.
[6]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[7]	Inter-segment revenues are charged at prevailing market rates.
[8]	For the six months ended June 30, 2020, rent concessions of US$135 million were provided to tenants as a result of the COVID-19 Pandemic and the impact on mall operations.

Explanation of Significant Chan

Explanation of Significant Changes in Contract Liabilities (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Outstanding Chips Liability [Member]
Explanation of significant changes in contract liabilities [Line Items]
Contract liabilities at beginning of period		$ 514	$ 418
Contract liabilities at end of period		485	514
Change in contract liabilities		(29)	96
Loyalty Program Liability [Member]
Explanation of significant changes in contract liabilities [Line Items]
Contract liabilities at beginning of period		33	30
Contract liabilities at end of period		31	33
Change in contract liabilities		(2)	3
Customer Deposits and Other Deferred Revenue [Member]
Explanation of significant changes in contract liabilities [Line Items]
Contract liabilities at beginning of period	[1]	497	424
Contract liabilities at end of period	[1]	395	497
Change in contract liabilities		(102)	73
Customer Deposits and Other Deferred Revenue [Member] \| Mall [Member]
Explanation of significant changes in contract liabilities [Line Items]
Contract liabilities at beginning of period	[1]	127	121
Contract liabilities at end of period	[1]	$ 129	$ 127

[1]	Of this amount, US$121 million, US$127 million and US$129 million as of January 1, 2018, December 31, 2018, and December 31, 2019, respectively, relates to mall deposits that are accounted for based on lease terms usually greater than one year.

Disclosure of Operating Segment

Disclosure of Operating Segments (Details) - USD ($) $ in Millions		6 Months Ended				12 Months Ended
		Jun. 30, 2020		Jun. 30, 2019		Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2017
Disclosure of operating segments [line items]
Net revenues		$ 848		$ 4,468		$ 8,808		$ 8,665		$ 7,586	[1]
Income from right of use		64	[2]	203	[2]	456	[3]	436	[3]	406	[3]
Management fee and other income		35	[2]	37	[2]	75	[3]	71	[3]	73	[3]
Adjusted Property EBITDA		(243)	[4]	1,625	[4]	3,193	[5]	3,079	[5]	2,611	[5]
Share-based compensation		(8)	[6]	(7)	[6]	(14)	[7],[8]	(13)	[7],[8]	(12)	[7],[8]
Corporate expense		(28)	[9]	(66)	[9]	(129)		(125)		(120)
Pre-opening expense		(5)		(10)		(23)		(5)		(7)
Depreciation and amortization		(338)		(364)		(706)		(655)		(676)	[10]
Foreign exchange gain (loss)		20		12		35		4		(11)	[11]
Impairment loss on property and equipment						(65)	[12]	0		0
Loss on disposal of property and equipment, investment properties and intangible assets		(7)		(3)		(16)		(131)	[13]	(12)	[11]
Operating (loss) profit		(609)		1,187		2,275		2,154		1,773	[10]
Interest income		9		21		38		20		5	[10]
Interest expense, net of amounts capitalized		(116)		(147)		(280)		(225)		(153)	[10]
Loss on modification or early retirement of debt						0		(81)		0	[10]
(Loss) profit before income tax		(716)		1,061		2,033		1,868		1,625	[10]
Income tax (expense) benefit		0		6		0		7		(22)	[10]
(Loss) profit for the period attributable to equity holders of the Company		(716)		1,067		2,033		1,875		1,603	[10]
Equity-settled share-based payment expense, net of amounts capitalized		6	[6]	7	[6]	13	[8]	13	[8]	12	[8]
Cash-settled share-based payment expense, net of amounts capitalized		2	[6]	0	[2]	1	[8]	0		0
Royalty fees						113		112		103
Employee benefit expenses		554		651		1,292		1,238		1,193	[10]
Other support services						101		100		111
Other expenses						115		99		66
Utilities and operating supplies						195		207		200
Contract labor and services						152		151		141
Advertising and promotions						129		124		116
Capital expenditures		571		225		754		532		477
Total assets		11,335				12,100		12,058	[14]
Casino [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		625		3,586		7,018		6,816		5,880	[1]
Rooms [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		71		364		731		734		651	[1]
Mall [Member]
Disclosure of operating segments [line items]
Net revenues		99	[2],[15]	240	[2],[15]	531	[3]	507	[3]	479	[1],[3]
Rent concessions	[15]	135
Food and Beverage [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		27		154		298		304		292	[1]
Convention, Ferry, Retail and Other [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		26		124		230		304		284	[1]
Corporate expense [Member]
Disclosure of operating segments [line items]
Share-based compensation		(1)	[9]	0	[15]
Royalty fees		11		56		110		106		98
Management fees						5		6		6
Employee benefit expenses						7		7		6
Other support services						4		3		4
Other expenses						3		3		6
Pre-opening expense [Member]
Disclosure of operating segments [line items]
Pre-opening expense						(23)		(5)		(7)
Management fees						0		0		1
Employee benefit expenses						9		1		0
Other support services						1		1		3
Other expenses						1		0		1
Utilities and operating supplies						0		2		2
Contract labor and services						3		1		0
Advertising and promotions						9		0		0
Elimination of intersegment amounts [member]
Disclosure of operating segments [line items]
Net revenues		(8)	[16]	(8)	[16]	(15)	[17]	(15)	[17]	(15)	[17],[18]
Elimination of intersegment amounts [member] \| Casino [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		0	[16]	0	[16]	0	[19]	0	[19]	0	[1],[19]
Elimination of intersegment amounts [member] \| Rooms [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		0	[16]	0	[16]	0	[19]	0	[19]	0	[1],[19]
Elimination of intersegment amounts [member] \| Mall [Member]
Disclosure of operating segments [line items]
Net revenues		(1)	[2],[15],[16]	(1)	[2],[15],[16]	(1)	[3],[19]	(1)	[3],[19]	(1)	[1],[3],[19]
Elimination of intersegment amounts [member] \| Food and Beverage [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		0	[16]	0	[16]	0	[19]	0	[19]	0	[1],[19]
Elimination of intersegment amounts [member] \| Convention, Ferry, Retail and Other [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		(7)	[16]	(7)	[16]	(14)	[19]	(14)	[19]	(14)	[1],[19]
The Venetian Macao [Member]
Disclosure of operating segments [line items]
Net revenues		343		1,751		3,510		3,474		2,924	[1]
Adjusted Property EBITDA		(48)	[4]	697	[4]	1,407	[5]	1,378	[5]	1,137	[5]
Depreciation and amortization		(87)		(79)		(159)		(146)		(151)
Capital expenditures		66		38		131		179		152
Total assets		3,052				3,236		3,447
The Venetian Macao [Member] \| Casino [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		256		1,438		2,875		2,829		2,362	[1]
The Venetian Macao [Member] \| Rooms [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		22		110		222		223		179	[1]
The Venetian Macao [Member] \| Mall [Member]
Disclosure of operating segments [line items]
Net revenues		47	[2],[15]	118	[2],[15]	254	[3]	234	[3]	220	[1],[3]
The Venetian Macao [Member] \| Food and Beverage [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		6		39		73		81		74	[1]
The Venetian Macao [Member] \| Convention, Ferry, Retail and Other [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		12		46		86		107		89	[1]
Sands Cotai Central [Member]
Disclosure of operating segments [line items]
Net revenues		180		1,060		2,052		2,153		1,916	[1]
Adjusted Property EBITDA		(79)	[4]	377	[4]	726	[5]	759	[5]	633	[5]
Depreciation and amortization		(118)		(164)		(299)		(274)		(239)
Capital expenditures		368		107		276		130		84
Total assets		4,046				4,531		4,378
Sands Cotai Central [Member] \| Casino [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		124		803		1,541		1,622		1,433	[1]
Sands Cotai Central [Member] \| Rooms [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		27		161		320		331		291	[1]
Sands Cotai Central [Member] \| Mall [Member]
Disclosure of operating segments [line items]
Net revenues		16	[2],[15]	32	[2],[15]	71	[3]	69	[3]	63	[1],[3]
Sands Cotai Central [Member] \| Food and Beverage [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		9		50		97		102		102	[1]
Sands Cotai Central [Member] \| Convention, Ferry, Retail and Other [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		4		14		23		29		27	[1]
The Parisian Macao [Member]
Disclosure of operating segments [line items]
Net revenues		118		868		1,650		1,533		1,395	[1]
Adjusted Property EBITDA		(84)	[4]	302	[4]	544	[5]	484	[5]	412	[5]
Depreciation and amortization		(84)		(79)		(161)		(163)		(204)
Capital expenditures		7		14		32		130		204
Total assets		2,253				2,372		2,489
The Parisian Macao [Member] \| Casino [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		85		730		1,376		1,265		1,120	[1]
The Parisian Macao [Member] \| Rooms [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		14		64		130		124		128	[1]
The Parisian Macao [Member] \| Mall [Member]
Disclosure of operating segments [line items]
Net revenues		10	[2],[15]	27	[2],[15]	53	[3]	57	[3]	66	[1],[3]
The Parisian Macao [Member] \| Food and Beverage [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		6		35		70		65		61	[1]
The Parisian Macao [Member] \| Convention, Ferry, Retail and Other [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		3		12		21		22		20	[1]
The Plaza Macao [Member]
Disclosure of operating segments [line items]
Net revenues		126		435		877		719		587	[18]
Adjusted Property EBITDA		10	[4]	168	[4]	345	[5]	262	[5]	233	[5]
Depreciation and amortization		(30)		(19)		(40)		(33)		(36)
Loss on disposal of property and equipment, investment properties and intangible assets	[13]							(128)
Capital expenditures		127		59		296		63		22
Total assets		1,257				1,255		913
The Plaza Macao [Member] \| Casino [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		91		335		650		502		391	[1]
The Plaza Macao [Member] \| Rooms [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		5		20		41		39		34	[1]
The Plaza Macao [Member] \| Mall [Member]
Disclosure of operating segments [line items]
Net revenues		26	[2],[15]	62	[2],[15]	151	[3]	145	[3]	131	[1],[3]
The Plaza Macao [Member] \| Food and Beverage [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		4		16		31		29		28	[1]
The Plaza Macao [Member] \| Convention, Ferry, Retail and Other [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		0		2		4		4		3	[1]
Sands Macao [Member]
Disclosure of operating segments [line items]
Net revenues		76		307		628		650		626	[1]
Adjusted Property EBITDA		(32)	[4]	83	[4]	175	[5]	178	[5]	174	[5]
Depreciation and amortization		(13)		(13)		(27)		(24)		(31)
Capital expenditures		3		6		16		29		10
Total assets		268				323		328
Sands Macao [Member] \| Casino [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		69		280		576		598		574	[1]
Sands Macao [Member] \| Rooms [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		3		9		18		17		19	[1]
Sands Macao [Member] \| Mall [Member]
Disclosure of operating segments [line items]
Net revenues		1	[2],[15]	2	[2],[15]	3	[3]	3	[3]	0	[1],[3]
Sands Macao [Member] \| Food and Beverage [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		2		14		27		27		27	[1]
Sands Macao [Member] \| Convention, Ferry, Retail and Other [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		1		2		4		5		6	[1]
Ferry and Other Operations [Member]
Disclosure of operating segments [line items]
Net revenues		13		55		106		151		153	[1]
Adjusted Property EBITDA		(10)	[4]	(2)	[4]	(4)	[5]	18	[5]	22	[5]
Depreciation and amortization		(6)		(10)		(20)		(15)		(15)
Capital expenditures		0		1		3		1		5
Total assets		459				383		503
Ferry and Other Operations [Member] \| Casino [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		0		0		0		0		0	[1]
Ferry and Other Operations [Member] \| Rooms [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		0		0		0		0		0	[1]
Ferry and Other Operations [Member] \| Mall [Member]
Disclosure of operating segments [line items]
Net revenues		0	[2],[15]	0	[2],[15]	0	[3]	0	[3]	0	[1],[3]
Ferry and Other Operations [Member] \| Food and Beverage [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		0		0		0		0		0	[1]
Ferry and Other Operations [Member] \| Convention, Ferry, Retail and Other [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		$ 13		$ 55		$ 106		$ 151		$ 153	[1]

[1]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[2]	Of this amount, US$64 million and US$35 million (six months ended June 30, 2019: US$203 million and US$37 million) are related to income from right of use and management fee and other, respectively. Income from right of use is recognized in accordance with IFRS 16 Leases .
[3]	Of this amount, US$406 million and US$73 million for the year ended December 31, 2017, US$436 million and US$71 million for the year ended December 31, 2018, and US$456 million and US$75 million for the year ended December 31, 2019 are related to income from right-of-use and management fee and other, respectively. Income from right-of-use is recognized in accordance with IAS 17 Leases for the years ended December 31, 2017 and 2018 and IFRS 16 Leases for the year ended December 31, 2019. All other revenue are recognized in accordance with IFRS 15 Revenue from contracts with customers .
[4]	Adjusted property EBITDA, which is a non-IFRS financial measure, is profit or loss attributable to equity holders of the Company before share-based compensation, corporate expense, pre-opening expense, depreciation and amortization, net foreign exchange gains or losses, impairment loss on property and equipment, gain or loss on disposal of property and equipment, investment properties and intangible assets, interest, gain or loss on modification or early retirement of debt and income tax benefit or expense. Management utilizes adjusted property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation. Integrated resort companies have historically reported adjusted property EBITDA as a supplemental performance measure to IFRS financial measures. In order to view the operations of their properties on a more stand-alone basis, integrated resort companies, including the Group, have historically excluded certain expenses that do not relate to the management of specific properties, such as pre-opening expense and corporate expense, from their adjusted property EBITDA calculations. Adjusted property EBITDA should not be interpreted as an alternative to profit or operating profit (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with IFRS. The Group has significant uses of cash flow, including capital expenditures, dividend payments, interest payments, debt principal repayments and income taxes, which are not reflected in adjusted property EBITDA. Not all companies calculate adjusted property EBITDA in the same manner. As a result, adjusted property EBITDA as presented by the Group may not be directly comparable to other similarly titled measures presented by other companies.
[5]	Adjusted Property EBITDA, which is a non-IFRS financial measure, is profit or loss attributable to equity holders of the Company before share-based compensation, corporate expense, pre-opening expense, depreciation and amortization, net foreign exchange gains or losses, impairment loss on property and equipment, gain or loss on disposal of property and equipment, investment properties and intangible assets, interest, gain or loss on modification or early retirement of debt and income tax benefit or expense. Management utilizes Adjusted Property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation. Gaming companies have historically reported Adjusted Property EBITDA as a supplemental performance measure to IFRS financial measures. In order to view the operations of their casinos on a more stand-alone basis, gaming companies, including the Group, have historically excluded certain expenses that do not relate to the management of specific casino properties, such as pre-opening expense and corporate expense, from their Adjusted Property EBITDA calculations. Adjusted Property EBITDA should not be interpreted as an alternative to profit or operating profit (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with IFRS. The Group has significant uses of cash flow, including capital expenditures, dividend payments, interest payments and debt principal repayments, which are not reflected in Adjusted Property EBITDA. Not all companies calculate Adjusted Property EBITDA in the same manner. As a result, Adjusted Property EBITDA as presented by the Group may not be directly comparable to other similarly titled measures presented by other companies.
[6]	The amount comprises of US$6 million equity-settled shared-base payment expense, net of amounts capitalized and US$2 million cash-settled share-based payment expense, net of amounts capitalized (six months ended June 30, 2019: US$7 million and nil respectively).
[7]	Share-based compensation of nil, US$1 million and US$1 million was capitalized during the years ended December 31, 2017, 2018 and 2019, respectively. For further information related to the Company’s equity award plan and LVS’ equity award plan, see Note 28 to the consolidated financial statements.
[8]	The amount comprises of equity settled share-based payment expense, net of amounts capitalized and cash settled share-based payment expense, net of amounts capitalized amounting to US$12 million and nil, US$13 million and nil, and US$13 million and US$1 million for the years ended December 31, 2017, 2018 and 2019, respectively.
[9]	The amount excludes share-based payment expense of US$1 million (six months ended June 30, 2019: nil).
[10]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[11]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[12]	The impairment loss for the year ended December 31, 2019 resulted from the decrease in volume of passengers in our ferry operations. For details refer to Note 3(b).
[13]	The loss on disposal of property and equipment, investment properties and intangible assets for the year ended December 31, 2018 primarily consisted of a loss of US$128 million on asset disposals related to the preparation of the construction site for The Grand Suites at Four Seasons.
[14]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.
[15]	For the six months ended June 30, 2020, rent concessions of US$135 million were provided to tenants as a result of the COVID-19 Pandemic and the impact on mall operations.
[16]	Inter-segment revenues are charged at prevailing market rates.
[17]	Inter-segment revenues are charged at prevailing market rates.
[18]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[19]	Inter-segment revenues are charged at prevailing market rates.

Employee Benefits Expenses (I_3

Employee Benefits Expenses (Including Directors' Emoluments) (Details) - USD ($) $ in Millions		6 Months Ended				12 Months Ended
		Jun. 30, 2020		Jun. 30, 2019		Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2017
Disclosure of employee benefits [Abstract]
Wages, salaries, bonus and termination costs						$ 1,145		$ 1,096		$ 1,048
Staff meals						57		55		57
Pension costs						40		38		37
Share-based compensation, net of amount capitalized		$ 8	[1]	$ 7	[1]	14	[2],[3]	13	[2],[3]	12	[2],[3]
Other employee benefit expenses						36		36		39
Employee benefit expenses		$ 554		$ 651		1,292		1,238		1,193	[4]
Capitalized share-based compensation costs	[2]					$ 1		$ 1		$ 0

[1]	The amount comprises of US$6 million equity-settled shared-base payment expense, net of amounts capitalized and US$2 million cash-settled share-based payment expense, net of amounts capitalized (six months ended June 30, 2019: US$7 million and nil respectively).
[2]	Share-based compensation of nil, US$1 million and US$1 million was capitalized during the years ended December 31, 2017, 2018 and 2019, respectively. For further information related to the Company’s equity award plan and LVS’ equity award plan, see Note 28 to the consolidated financial statements.
[3]	The amount comprises of equity settled share-based payment expense, net of amounts capitalized and cash settled share-based payment expense, net of amounts capitalized amounting to US$12 million and nil, US$13 million and nil, and US$13 million and US$1 million for the years ended December 31, 2017, 2018 and 2019, respectively.
[4]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.

Employee Benefits Expenses (I_4

Employee Benefits Expenses (Including Directors' Emoluments) - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of employee benefits [Line Items]
Defined contribution plan, contributions payable			$ 8	$ 7
Defined contribution plan, forfeited contributions utilized			4	4
Defined contribution plan, forfeitures available to reduce future contributions			1	1
Services received, related party transactions			26	27	$ 20
LVS
Disclosure of employee benefits [Line Items]
Services received, related party transactions	$ 7	$ 9	19	20	14
Robert Glen Goldstein [Member] \| LVS
Disclosure of employee benefits [Line Items]
Services received, related party transactions	$ 1	$ 2	$ 4	$ 3	$ 3

Employee Benefits Expenses (I_5

Employee Benefits Expenses (Including Directors' Emoluments) Directors' Emoluments (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Directors' Emoluments [Line Items]
Key management personnel compensation, fees		$ 810	$ 927	$ 880
Key management personnel compensation, salaries		2,350	2,337	2,334
Key management personnel compensation, discretionary bonuses	[1]	1,502	1,494	1,497
Key management personnel compensation, pension costs		117	117	116
Key management personnel compensation, other benefits	[2]	618	667	637
Key management personnel compensation, total		5,397	5,542	5,464
Executive Directors [Member] \| Wong Ying Wai [Member]
Directors' Emoluments [Line Items]
Key management personnel compensation, salaries		2,350	2,337	2,334
Key management personnel compensation, discretionary bonuses	[1]	1,502	1,494	1,497
Key management personnel compensation, pension costs		117	117	116
Key management personnel compensation, other benefits	[2]	618	667	637
Key management personnel compensation, total		4,587	4,615	4,584
Non-Executive Directors [Member] \| Charles Daniel Forman [Member]
Directors' Emoluments [Line Items]
Key management personnel compensation, fees		150	150	150
Key management personnel compensation, total		150	150	150
Independent Non-Executive Directors [Member] \| Chiang Yun [Member]
Directors' Emoluments [Line Items]
Key management personnel compensation, fees		150	150	150
Key management personnel compensation, total		150	150	150
Independent Non-Executive Directors [Member] \| Victor Patrick Hoog Antink [Member]
Directors' Emoluments [Line Items]
Key management personnel compensation, fees		180	180	180
Key management personnel compensation, total		180	180	180
Independent Non-Executive Directors [Member] \| Steven Zygmunt Strasser [Member]
Directors' Emoluments [Line Items]
Key management personnel compensation, fees		180	180	180
Key management personnel compensation, total		180	180	180
Independent Non-Executive Directors [Member] \| Kenneth Patrick Chung [Member]
Directors' Emoluments [Line Items]
Key management personnel compensation, fees		150	150	150
Key management personnel compensation, total		$ 150	150	150
Independent Non-Executive Directors [Member] \| Wang Sing [Member]
Directors' Emoluments [Line Items]
Key management personnel compensation, fees	[3]		117	70
Key management personnel compensation, total	[3]		$ 117	$ 70

[1]	The discretionary bonuses are determined by reference to the individual performance of the Directors and the Chief Executives and the Group’s performance, and approved by the Remuneration Committee.
[2]	Other benefits mainly include share-based compensation, accommodation, meals, home visit travel costs and medical insurance.
[3]	Wang Sing was appointed as an Independent Non-Executive Director with effect from July 14, 2017 and resigned as an Independent Non-Executive Director with effect from October 11, 2018.

Employee Benefit Expenses (Incl

Employee Benefit Expenses (Including Directors' Emoluments) Emoluments for Non-Director Highest Paid Individuals (Details) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of highest paid employees [Line Items]
Pension costs			$ 40,000	$ 38,000	$ 37,000
Employee benefit expenses	$ 554,000	$ 651,000	1,292,000	1,238,000	1,193,000	[1]
Non-Director Highest Paid Individuals [Member]
Disclosure of highest paid employees [Line Items]
Basic salaries, allowances and benefits in kind			5,501	5,496	5,462
Bonus			3,858	2,551	2,980
Pension costs			219	191	191
Employee benefit expenses			$ 9,578	$ 8,238	$ 8,633

[1]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.

Employee Benefit Expenses (In_2

Employee Benefit Expenses (Including Directors' Emoluments) Number of Non-Director Highest Paid Individuals (Details) - individual	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	4	4	4
HK$13,000,001 (approximately US$1,669,000) – HK$13,500,000 (approximately US$1,733,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	0	1	1
HK$15,500,001 (approximately US$1,990,000) – HK$16,000,000 (approximately US$2,054,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	0	1	0
HK$16,000,001 (approximately US$2,054,000) – HK$16,500,000 (approximately US$2,119,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	2	1	0
HK$16,500,001 (approximately US$2,119,000) – HK$17,000,000 (approximately US$2,183,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	0	0	1
HK$17,500,001 (approximately US$2,247,000) – HK$18,000,000 (approximately US$2,311,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	1	0	0
HK$18,000,001 (approximately US$2,311,000) – HK$18,500,000 (approximately US$2,375,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	0	0	1
HK$18,500,001 (approximately US$2,375,000) – HK$19,000,000 (approximately US$2,440,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	0	0	1
HK$19,000,001 (approximately US$2,440,000) – HK$19,500,000 (approximately US$2,504,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	0	1	0
HK$24,500,001 (approximately US$3,146,000) – HK$25,000,000 (approximately US$3,210,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	1	0	0

Other Expenses, Gains and Los_3

Other Expenses, Gains and Losses 1 (Details) - USD ($) $ in Millions		6 Months Ended		12 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2017
Disclosure of other expenses, gains and losses [Line Items]
Tax expense other than income tax expense		$ 336	$ 1,757	$ 3,421		$ 3,430		$ 2,925	[1]
Employee benefit expenses		554	651	1,292		1,238		1,193	[1]
Depreciation and amortisation		338	364	706		655		676	[1]
Inventories consumed		11	50	97		99		98	[1]
Other expenses, gains and losses		218	459	1,017		1,089		921	[1]
Operating expenses				6,533		6,511		5,813	[2]
Utilities and operating supplies				195		207		200
Contract labor and services				152		151		141
Advertising and promotions				129		124		116
Royalty fees				113		112		103
Repairs and maintenance				85		93		83
Management fees	[3]			47		50		42
Provision for doubtful accounts, net				0		0		4	[2]
Provision for expected credit losses, net				24		9		0	[2]
Operating lease expense				0		15		30
Lease payments for which the recognition exemption is applied and variable lease payments not included in lease liabilities				8		0		0
Auditor's remuneration				2		2		2
Loss on disposal of property and equipment, investment properties and intangible assets		7	3	16		131	[4]	12	[2]
Impairment loss on property and equipment				65	[5]	0		0
Foreign exchange loss (gain)		(20)	(12)	(35)		(4)		11	[2]
Other support services				101		100		111
Other operating expenses				115		99		66
Management fee charged by third parties	[3]			24		23		22
Services received, net of amounts capitalized, related party transactions	[3]			23		27		20
The Plaza Macao [Member]
Disclosure of other expenses, gains and losses [Line Items]
Depreciation and amortisation		$ 30	$ 19	$ 40		33		$ 36
Loss on disposal of property and equipment, investment properties and intangible assets	[4]					$ 128

[1]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[2]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[3]	Total management fees includes amounts charged by third parties and charged by related parties, net of amounts capitalized of US$22 million and US$20 million, US$23 million and US$27 million, and US$24 million and US$23 million for the years ended December 31, 2017, 2018 and 2019, respectively.
[4]	The loss on disposal of property and equipment, investment properties and intangible assets for the year ended December 31, 2018 primarily consisted of a loss of US$128 million on asset disposals related to the preparation of the construction site for The Grand Suites at Four Seasons.
[5]	The impairment loss for the year ended December 31, 2019 resulted from the decrease in volume of passengers in our ferry operations. For details refer to Note 3(b).

Other Expenses, Gains and Los_4

Other Expenses, Gains and Losses 2 (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018		Dec. 31, 2017
Disclosure of other expenses, gains and losses [Line Items]
Casino expense			$ 4,226	$ 4,216		$ 3,646	[1]
Cost of sales, room occupancy services			190	185		176	[1]
Mall expense			55	53		53	[1]
Cost of sales, food and beverage			258	252		241	[1]
Convention, ferry, retail and other expense			178	212		209	[1]
Provision for doubtful accounts, net			0	0		4	[1]
Provision for expected credit losses, net			24	9		0	[1]
General and administrative expense			698	672		657	[1]
Corporate expense			129	125		121	[1]
Pre-opening expense			23	5		7	[1]
Depreciation and amortisation	$ 338	$ 364	706	655		676	[2]
Loss on disposal of property and equipment, investment properties and intangible assets	7	3	16	131	[3]	12	[1]
Impairment loss on property and equipment			65	0		0	[1]
Foreign exchange loss (gain)	$ (20)	$ (12)	(35)	(4)		11	[1]
Operating expenses			$ 6,533	$ 6,511		$ 5,813	[1]

[1]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[2]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[3]	The loss on disposal of property and equipment, investment properties and intangible assets for the year ended December 31, 2018 primarily consisted of a loss of US$128 million on asset disposals related to the preparation of the construction site for The Grand Suites at Four Seasons.

Interest Expense (Details)

Interest Expense (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
Interest Expense (Details) - USD ($) $ in Millions	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of interest expense [Abstract]
Bank borrowings			$ 0	$ 85	$ 117
Senior Notes			253	103	0
Amortization of deferred financing costs			15	22	21
Lease liabilities			8	8	7
Standby fee and other financing costs			13	11	10
Interest costs incurred			289	229	155
Less: interest capitalized			(9)	(4)	(2)
Interest expense, net of amounts capitalized	$ 116	$ 147	$ 280	$ 225	$ 153	[1]

[1]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.

Interest Expense, Net of Amou_3

Interest Expense, Net of Amounts Capitalized - Additional Information (Details)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Bottom of range [member]
Disclosure of interest expense [Line Items]
Capitalisation rate of borrowing costs eligible for capitalisation	4.40%	3.20%	2.70%
Top of range [member]
Disclosure of interest expense [Line Items]
Capitalisation rate of borrowing costs eligible for capitalisation	5.30%	5.40%	3.30%

Components of Income Tax Expens

Components of Income Tax Expense (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of income tax [Line Items]
Deferred tax expense (benefit)	$ (2)	$ (8)	$ (5)	$ (12)	$ 16
Income tax expense (benefit)	0	(6)	0	(7)	22	[1]
Lump sum in lieu of Macao complementary tax on dividends [Member]
Disclosure of income tax [Line Items]
Current tax expense (benefit)	$ 2	$ 2	5	5	5
Other overseas taxes [Member]
Disclosure of income tax [Line Items]
Current tax expense (benefit)			$ 0	$ 0	$ 1

[1]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.

Income Tax Expense (Benefit) -

Income Tax Expense (Benefit) - Additional Information (Details) - USD ($) $ in Millions	Oct. 03, 2013	Apr. 30, 2019	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of income tax [Line Items]
Deferred tax expense (benefit)			$ (2)	$ (8)	$ (5)	$ (12)	$ 16
MACAU \| Macao Finance Bureau (MFB) [Member]
Disclosure of income tax [Line Items]
Income tax holiday period	5 years
Income tax holiday termination date					Jun. 26, 2022
Shareholder dividend tax agreement termination date		Jun. 26, 2022
MACAU \| Top of range [member]
Disclosure of income tax [Line Items]
Applicable tax rate					12.00%	12.00%	12.00%
HONG KONG \| Top of range [member]
Disclosure of income tax [Line Items]
Applicable tax rate					16.50%	16.50%	16.50%

Effective Income Tax Reconcilia

Effective Income Tax Reconciliation (Details) - USD ($) $ in Millions		6 Months Ended		12 Months Ended
		Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of income tax [Line Items]
Profit before income tax		$ (716)	$ 1,061	$ 2,033	$ 1,868	$ 1,625	[1]
Tax calculated at domestic rates applicable to profits in the respective jurisdictions				261	238	208
Income not subject to tax	[2]			(966)	(905)	(837)
Expenses not deductible for tax purposes	[2],[3]			603	574	549
Amortization of pre-opening expenses previously not recognized				(1)	(3)	(9)
Origination and reversal of temporary difference, net				4	4	20
Tax losses for which no deferred income tax assets were recognized				95	80	87
Lump sum in lieu of Macao complementary tax of dividends				5	5	5
Other				(1)	0	(1)
Income tax expense (benefit)		$ 0	$ (6)	$ 0	$ (7)	$ 22	[1]

[1]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[2]	For the years ended December 31, 2017, 2018 and 2019, VML was exempt from Macao complementary tax on its gaming activities (see also Note 9(a)). In addition, lease/right-of-use income recorded in VML, Venetian Cotai Limited (“VCL”) and Venetian Orient Limited (“VOL”) were subject to property tax (Note (ii)), and should, therefore, also be excluded from Macao complementary tax calculations. Accordingly, casino revenues and lease/right-of-use income and their corresponding expenses incurred were presented as “Income not subject to tax” and “Expenses not deductible for tax purposes,” respectively, in the calculations above.
[3]	Lease/right-of-use income recorded in VML, VCL and VOL are exempt from property tax for the first four and six years for the newly constructed buildings in Macao and on Cotai, respectively, pursuant to Article 9(1)(a) of Lei no. 19/78/M. If the buildings in Macao and on Cotai also qualify for Tourism Utility Status, the property tax exemption can be extended by another four and six years, respectively, pursuant to Article 15(a) of Lei no. 81/89/M. The exemption for the Sands Macao and The Venetian Macao expired in August 2012 and August 2019 respectively and that for The Plaza Macao, Sands Cotai Central and The Parisian Macao will be expiring in August 2020, December 2027 and September 2028 respectively.

(Loss) Earnings Per Share (Deta

(Loss) Earnings Per Share (Details) $ / shares in Units, shares in Thousands, $ in Millions	6 Months Ended								12 Months Ended
	Jun. 30, 2020USD ($)$ / sharesshares		Jun. 30, 2020$ / shares		Jun. 30, 2019USD ($)$ / sharesshares		Jun. 30, 2019$ / shares		Dec. 31, 2019USD ($)$ / sharesshares		Dec. 31, 2019$ / shares	[4]	Dec. 31, 2018USD ($)$ / sharesshares		Dec. 31, 2018$ / shares	[4]	Dec. 31, 2017USD ($)$ / sharesshares		Dec. 31, 2017$ / shares	[4]
(Loss) Earnings per share [line items]
(Loss) profit attributable to equity holders of the Company (US$ in millions) \| $	$ (716)				$ 1,067				$ 2,033				$ 1,875				$ 1,603	[1]
Weighted average number of shares for basic (loss) earnings per share (thousand shares)	8,088,743				8,082,946				8,085,149				8,078,946				8,072,709
Adjustments for share options (thousand shares)	0	[2]			5,686	[2]			5,057				7,328				4,544
Weighted average number of shares for diluted (loss) earnings per share (thousand shares)	8,088,743				8,088,632				8,090,206				8,086,274				8,077,253
(Loss) earnings per share, basic \| (per share)	$ (0.0885)	[3]	$ (0.6859)		$ 0.1320	[3]	$ 1.0316		$ 0.2514		$ 1.9579		$ 0.2321		$ 1.8175		$ 0.1986	[1]	$ 1.5522
(Loss) earnings per share, diluted \| (per share)	$ (0.0885)	[3]	$ (0.6859)		$ 0.1319	[3]	$ 1.0308		$ 0.2513		$ 1.9571		$ 0.2319		$ 1.8159		$ 0.1985	[1]	$ 1.5514
HK$
(Loss) Earnings per share [line items]
Exchange rate for translation	7.7504	[3]	7.7504	[3]	7.8152	[3]	7.8152	[3]	7.7879	[4]	7.7879		7.8306	[4]	7.8306		7.8157	[4]	7.8157

[1]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[2]	The computation of the diluted loss per share for the six months ended June 30, 2020 did not assume the exercise of the Company’s share options because the exercise would result in a decrease in loss per share. For the six months ended June 30, 2019, the Company had outstanding share options that will potentially dilute the ordinary shares.
[3]	The translation of US$ amounts into HK$ amounts has been made at the exchange rate of US$1.00 to HK$7.7504 (six months ended June 30, 2019: US$1.00 to HK$7.8152).
[4]	The translation of US$ amounts into HK$ amounts has been made at the exchange rate on December 31, 2017, 2018 and 2019 of US$1.00 to HK$7.8157, US$1.00 to HK$7.8306 and US$1.00 to HK$7.7879, respectively.

Dividends (Details)

Dividends (Details) - USD ($) $ in Millions	Jan. 17, 2020	May 24, 2019	Jan. 18, 2019	May 25, 2018	Jan. 19, 2018	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of dividends [Line Items]
Dividends declared for the prior year	$ 1,025	$ 1,031	$ 1,023			$ 1,025	$ 2,054
Dividends								$ 1,025	$ 2,054	$ 2,053
Interim [Member]
Disclosure of dividends [Line Items]
Dividends	$ 1,025		$ 1,023		$ 1,023
Final [Member]
Disclosure of dividends [Line Items]
Dividends		$ 1,031		$ 1,030

Dividends - Additional Informat

Dividends - Additional Information (Details) $ / shares in Units, $ / shares in Units, $ in Millions, $ in Millions	Feb. 21, 2020USD ($)	Feb. 21, 2020HKD ($)	Jan. 17, 2020$ / shares	Jan. 17, 2020$ / shares	May 24, 2019$ / shares	May 24, 2019$ / shares	Jan. 18, 2019$ / shares	Jan. 18, 2019$ / shares	May 25, 2018$ / shares	May 25, 2018$ / shares	Jan. 19, 2018$ / shares	Jan. 19, 2018$ / shares
Disclosure of dividends [Line Items]
Dividends paid, ordinary shares per share \| (per share)			$ 0.99	$ 0.127	$ 1	$ 0.127	$ 0.99	$ 0.127	$ 1	$ 0.127	$ 0.99	$ 0.127
Dividends paid, ordinary shares	$ 1,030	$ 8,010

Disclosure of Detailed Informat

Disclosure of Detailed Information About Investment Property (Details) $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)Room	Dec. 31, 2018USD ($)		Jun. 30, 2020USD ($)	Dec. 31, 2017USD ($)
Disclosure of detailed information about investment property [line items]
Investment properties, net	$ 587	$ 629	[1]	$ 561	$ 1,311
Additions other than through business combinations, investment property	6	62
Increase (decrease) through other changes, investment property		5
Disposals, investment property		(92)
Transfer from (to) inventories and owner-occupied property, investment property	6	(609)	[2]
Depreciation, investment property	(57)	(45)
Increase (decrease) through net exchange differences, investment property	$ 3	(3)
Sands Cotai Central [Member]
Disclosure of detailed information about investment property [line items]
Additional number of suites to be constructed \| Room	370
The Plaza Macao [Member]
Disclosure of detailed information about investment property [line items]
Additional number of suites to be constructed \| Room	290
Cost [member]
Disclosure of detailed information about investment property [line items]
Investment properties, net	$ 1,004	988			1,626
Accumulated amortization [member]
Disclosure of detailed information about investment property [line items]
Investment properties, net	$ (417)	$ (359)			$ (315)

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.
[2]	Pursuant to IAS 40 Investment Property , an entity shall transfer a property to/or from investment property when and only when there is a change in use. Subsequent to the Board’s approval in October 2017 to introduce approximately 370 new suites in the Londoner Court and approximately 290 new suites in The Grand Suites at Four Seasons, observable actions have taken place to support management’s intention to convert the Londoner Court and The Grand Suites at Four Seasons to owner-occupied assets. As a result, during the year ended December 31, 2018, the assets pertaining to the Londoner Court and The Grand Suites at Four Seasons with an aggregate carrying amount of US$609 million were transferred from investment properties to property and equipment.

Fair Value of Investment Proper

Fair Value of Investment Properties (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018		Dec. 31, 2017
Disclosure of fair value measurement of assets [line items]
Fair value of the investment properties	$ 561	$ 587	$ 629	[1]	$ 1,311
Level 3 of fair value hierarchy [member] \| At fair value [member] \| Investment property completed [member]
Disclosure of fair value measurement of assets [line items]
Fair value of the investment properties		$ 8,354	$ 8,243

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.

Disclosure of income Statement

Disclosure of income Statement Amounts Related to Investment Properties (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about investment property [line items]
Mall income	$ 531	$ 507	$ 479
Direct operating expenses arising from investment properties that generate right-of-use income	50	51	55
Direct operating expenses that did not generate right-of-use income	$ 5	$ 5	$ 2

Leasing Arrangements (Details)

Leasing Arrangements (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of maturity analysis of operating lease receivables [Line Items]
Undiscounted operating lease payments to be received	$ 1,011	$ 992
Not later than one year [member]
Disclosure of maturity analysis of operating lease receivables [Line Items]
Undiscounted operating lease payments to be received	361	331
Later than one year and not later than two years [member]
Disclosure of maturity analysis of operating lease receivables [Line Items]
Undiscounted operating lease payments to be received	289	257
Later than two years and not later than three years [member]
Disclosure of maturity analysis of operating lease receivables [Line Items]
Undiscounted operating lease payments to be received	205	188
Later than three years and not later than four years [member]
Disclosure of maturity analysis of operating lease receivables [Line Items]
Undiscounted operating lease payments to be received	67	124
Later than four years and not later than five years [member]
Disclosure of maturity analysis of operating lease receivables [Line Items]
Undiscounted operating lease payments to be received	42	33
Later than five years [member]
Disclosure of maturity analysis of operating lease receivables [Line Items]
Undiscounted operating lease payments to be received	$ 47	$ 59

Investment Properties, Net - Ad

Investment Properties, Net - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about investment property [line items]
Income relating to variable lease payments for operating leases that do not depend on index or rate	$ 74	$ 64	$ 28

Disclosure of Detailed Inform_2

Disclosure of Detailed Information About Property, Plant and Equipment (Details) - USD ($) $ in Millions	Jan. 01, 2019		Jun. 30, 2020	Jun. 30, 2019		Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	$ 8,134	[1]	$ 8,361	$ 8,134	[1]	$ 8,134	[1]	$ 7,687
Changes on initial application of IFRS 9	6
Additions			609	285		903		499
Adjustments to project costs						(12)		(8)
Disposals			(17)	(2)		(8)		(43)
Transfers						(6)		609
Impairment						(65)	[2]	0		$ 0
Depreciation						(633)		(598)
Exchange difference						42		(12)
Property, plant and equipment at end of period	8,140		8,684			8,361		8,134	[1]	7,687
Leasehold interests in land [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	552		540	552		552		485
Changes on initial application of IFRS 9	0
Additions						0		10
Adjustments to project costs						0		0
Disposals						0		0
Transfers						0		69
Impairment						0
Depreciation						(12)		(12)
Exchange difference						0		0
Property, plant and equipment at end of period	552					540		552		485
Land improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	243		243	243		243		247
Changes on initial application of IFRS 9	0
Additions						3		1
Adjustments to project costs						0		0
Disposals						0		(4)
Transfers						5		13
Impairment						0
Depreciation						(9)		(14)
Exchange difference						1		0
Property, plant and equipment at end of period	243					243		243		247
Buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	6,465		6,335	6,465		6,465		6,209
Changes on initial application of IFRS 9	6
Additions						7		2
Adjustments to project costs						0		(5)
Disposals						(1)		(34)
Transfers						265		725
Impairment						0
Depreciation						(442)		(421)
Exchange difference						35		(11)
Property, plant and equipment at end of period	6,471					6,335		6,465		6,209
Leasehold improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	1		1	1		1		1
Changes on initial application of IFRS 9	0
Additions						1		0
Adjustments to project costs						0		0
Disposals						0		0
Transfers						0		0
Impairment						0
Depreciation						(1)		0
Exchange difference						0		0
Property, plant and equipment at end of period	1					1		1		1
Motor vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	7		36	7		7		8
Changes on initial application of IFRS 9	0
Additions						35		3
Adjustments to project costs						0		0
Disposals						0		0
Transfers						0		0
Impairment						0
Depreciation						(6)		(4)
Exchange difference						0		0
Property, plant and equipment at end of period	7					36		7		8
Ships [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	122		45	122		122		134
Changes on initial application of IFRS 9	0
Additions						0		0
Adjustments to project costs						0		0
Disposals						0		0
Transfers						0		0
Impairment						(65)
Depreciation						(12)		(12)
Exchange difference						0		0
Property, plant and equipment at end of period	122					45		122		134
Furniture, fittings and equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	585		667	585		585		510
Changes on initial application of IFRS 9	0
Additions						89		98
Adjustments to project costs						1		3
Disposals						(3)		(4)
Transfers						143		114
Impairment						0
Depreciation						(151)		(135)
Exchange difference						3		(1)
Property, plant and equipment at end of period	585					667		585		510
Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	159		494	159		159		93
Changes on initial application of IFRS 9	0
Additions						768		385
Adjustments to project costs						(13)		(6)
Disposals						(4)		(1)
Transfers						(419)		(312)
Impairment						0
Depreciation						0		0
Exchange difference						3		0
Property, plant and equipment at end of period	159					494		159		93
Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	12,589		13,349	12,589		12,589		11,602
Property, plant and equipment at end of period						13,349		12,589		11,602
Cost [member] \| Leasehold interests in land [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	675		675	675		675		596
Property, plant and equipment at end of period						675		675		596
Cost [member] \| Land improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	389		399	389		389		381
Property, plant and equipment at end of period						399		389		381
Cost [member] \| Buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	9,161		9,377	9,161		9,161		8,510
Property, plant and equipment at end of period						9,377		9,161		8,510
Cost [member] \| Leasehold improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	7		7	7		7		7
Property, plant and equipment at end of period						7		7		7
Cost [member] \| Motor vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	43		63	43		43		40
Property, plant and equipment at end of period						63		43		40
Cost [member] \| Ships [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	251		252	251		251		251
Property, plant and equipment at end of period						252		251		251
Cost [member] \| Furniture, fittings and equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	1,904		2,082	1,904		1,904		1,724
Property, plant and equipment at end of period						2,082		1,904		1,724
Cost [member] \| Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	159		494	159		159		93
Property, plant and equipment at end of period						494		159		93
Accumulated amortization [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	(4,455)		(4,988)	(4,455)		(4,455)		(3,915)
Property, plant and equipment at end of period						(4,988)		(4,455)		(3,915)
Accumulated amortization [member] \| Leasehold interests in land [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	(123)		(135)	(123)		(123)		(111)
Property, plant and equipment at end of period						(135)		(123)		(111)
Accumulated amortization [member] \| Land improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	(146)		(156)	(146)		(146)		(134)
Property, plant and equipment at end of period						(156)		(146)		(134)
Accumulated amortization [member] \| Buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	(2,696)		(3,042)	(2,696)		(2,696)		(2,301)
Property, plant and equipment at end of period						(3,042)		(2,696)		(2,301)
Accumulated amortization [member] \| Leasehold improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	(6)		(6)	(6)		(6)		(6)
Property, plant and equipment at end of period						(6)		(6)		(6)
Accumulated amortization [member] \| Motor vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	(36)		(27)	(36)		(36)		(32)
Property, plant and equipment at end of period						(27)		(36)		(32)
Accumulated amortization [member] \| Ships [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	(129)		(207)	(129)		(129)		(117)
Property, plant and equipment at end of period						(207)		(129)		(117)
Accumulated amortization [member] \| Furniture, fittings and equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	(1,319)		(1,415)	(1,319)		(1,319)		(1,214)
Property, plant and equipment at end of period						(1,415)		(1,319)		(1,214)
Accumulated amortization [member] \| Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period	$ 0		$ 0	$ 0		0		0
Property, plant and equipment at end of period						$ 0		$ 0		$ 0

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.
[2]	The impairment loss for the year ended December 31, 2019 resulted from the decrease in volume of passengers in our ferry operations. For details refer to Note 3(b).

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of detailed information about property, plant and equipment [line items]
Additions	$ 609	$ 285	$ 903	$ 499
Disposals	$ 17	$ 2	8	43
Interest costs capitalised			9	4	$ 2
Other direct costs capitalized			$ 26	$ 23
Leasehold interest in land, term of contract			25 years
Bottom of range [member]
Disclosure of detailed information about property, plant and equipment [line items]
Lessor, finance lease, term				3 years
Top of range [member]
Disclosure of detailed information about property, plant and equipment [line items]
Lessor, finance lease, term				5 years
Leasehold interests in land [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Additions			$ 0	$ 10
Disposals			$ 0	$ 0
Useful life measured as period of time, property, plant and equipment			50 years

Property and Equipment Under Fi

Property and Equipment Under Finance Leases (Details) $ in Millions	Dec. 31, 2018USD ($)
Disclosure of detailed information about property, plant and equipment [line items]
Equipment under finance lease	$ 4
Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Equipment under finance lease	14
Accumulated amortization [member]
Disclosure of detailed information about property, plant and equipment [line items]
Equipment under finance lease	$ (10)

Future Minimum Lease Payments (

Future Minimum Lease Payments (Details) $ in Millions	Dec. 31, 2018USD ($)
Disclosure of maturity analysis of operating lease payments [line items]
Operating lease commitments under IAS 17	$ 7
Not later than one year [member]
Disclosure of maturity analysis of operating lease payments [line items]
Operating lease commitments under IAS 17	5
Later than one year and not later than five years [member]
Disclosure of maturity analysis of operating lease payments [line items]
Operating lease commitments under IAS 17	$ 2

Right-of-use assets under IFRS

Right-of-use assets under IFRS 16 (Details) $ in Millions	12 Months Ended
Right-of-use assets under IFRS 16 (Details) $ in Millions	Dec. 31, 2019USD ($)
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	$ 600
Additions to right-of-use assets	20
Depreciation, right-of-use assets	(22)
Right-of-use assets, ending balance	604
Increase (decrease) due to changes in accounting policy required by IFRSs [member] \| IFRS 16
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	6
Leasehold interests in land [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	552
Additions to right-of-use assets	0
Depreciation, right-of-use assets	(12)
Right-of-use assets, ending balance	540
Other property, plant and equipment [member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	4
Additions to right-of-use assets	20
Depreciation, right-of-use assets	(9)
Right-of-use assets, ending balance	21
Other property, plant and equipment [member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member] \| IFRS 16
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	6
Investment property leasehold interests in land [member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	44
Additions to right-of-use assets	0
Depreciation, right-of-use assets	(1)
Right-of-use assets, ending balance	43
Cost [member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	745
Right-of-use assets, ending balance	763
Cost [member] \| Leasehold interests in land [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	675
Right-of-use assets, ending balance	675
Cost [member] \| Other property, plant and equipment [member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	14
Right-of-use assets, ending balance	32
Cost [member] \| Investment property leasehold interests in land [member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	56
Right-of-use assets, ending balance	56
Accumulated amortization [member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	(145)
Right-of-use assets, ending balance	(159)
Accumulated amortization [member] \| Leasehold interests in land [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	(123)
Right-of-use assets, ending balance	(135)
Accumulated amortization [member] \| Other property, plant and equipment [member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	(10)
Right-of-use assets, ending balance	(11)
Accumulated amortization [member] \| Investment property leasehold interests in land [member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	(12)
Right-of-use assets, ending balance	$ (13)

Minimum Lease Payments and Pres

Minimum Lease Payments and Present Value of the Minimum Lease Payments Under Finance Lease Obligations for Land (Details) - Land [member] $ in Millions	Dec. 31, 2018USD ($)
Disclosure of leases by lessee [line items]
Finance lease liabilities under IAS 17	$ 341
Future finance charge on lease	(211)
Minimum lease payments payable, at present value	130
Not later than one year [member]
Disclosure of leases by lessee [line items]
Finance lease liabilities under IAS 17	8
Minimum lease payments payable, at present value	8
Later than one year and not later than two years [member]
Disclosure of leases by lessee [line items]
Finance lease liabilities under IAS 17	5
Minimum lease payments payable, at present value	5
Later than two years and not later than five years [member]
Disclosure of leases by lessee [line items]
Finance lease liabilities under IAS 17	16
Minimum lease payments payable, at present value	12
Later than five years [member]
Disclosure of leases by lessee [line items]
Finance lease liabilities under IAS 17	312
Minimum lease payments payable, at present value	$ 105

Finance Lease Liabilities Minim

Finance Lease Liabilities Minimum Lease Payments and Present Value of the Minimum Lease Payments Under Finance Lease Obligations for Equipment (Details) - Furniture, fittings and equipment [Member] $ in Millions	Dec. 31, 2018USD ($)
Disclosure of leases by lessee [line items]
Finance lease liabilities under IAS 17	$ 5
Future finance charge on lease	0
Minimum lease payments payable, at present value	5
Not later than one year [member]
Disclosure of leases by lessee [line items]
Finance lease liabilities under IAS 17	2
Minimum lease payments payable, at present value	2
Later than one year and not later than two years [member]
Disclosure of leases by lessee [line items]
Finance lease liabilities under IAS 17	2
Minimum lease payments payable, at present value	2
Later than two years and not later than five years [member]
Disclosure of leases by lessee [line items]
Finance lease liabilities under IAS 17	1
Minimum lease payments payable, at present value	$ 1

Lease Liabilities under IFRS 16

Lease Liabilities under IFRS 16 (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Lease Liabilities [Line Items]
Current liabilities - Borrowings	$ 19	$ 19	$ 14
Non-current liabilities - Borrowings	$ 127	128	127
Total lease liabilities		$ 147	141	$ 135
IFRS 16
Lease Liabilities [Line Items]
Current liabilities - Borrowings			4
Non-current liabilities - Borrowings			$ 2

Disclosure of Income Statemen_2

Disclosure of Income Statement Impact from Right of Use Assets and Lease Liabilities (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Investment property leasehold interests in land [member]
Disclosure of Income Statement Impact from Right of Use Assets and Lease Liabilities [Line Items]
Depreciation, right-of-use assets	$ 1
Depreciation, right-of-use assets	22
Lease liabilities	8	$ 8	$ 7
Expense relating to short-term leases for which recognition exemption has been used	2
Expense relating to leases of low-value assets for which recognition exemption has been used	1
Expense relating to variable lease payments not included in measurement of lease liabilities	5
Total lease related expenses	38
Leasehold interests in land [Member]
Disclosure of Income Statement Impact from Right of Use Assets and Lease Liabilities [Line Items]
Depreciation, right-of-use assets	12
Other property, plant and equipment [member]
Disclosure of Income Statement Impact from Right of Use Assets and Lease Liabilities [Line Items]
Depreciation, right-of-use assets	$ 9

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	12 Months Ended
Leases - Additional Information (Details) $ in Millions	Dec. 31, 2019USD ($)	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Disclosure of quantitative information about leases for lessee [Line Items]
Right-of-use assets	$ 604	$ 606	$ 600
Weighted average lessee's incremental borrowing rate applied to lease liabilities	0.049
Cash outflow for leases	$ 30
Cash outflow for variable, low-value and short-term lease expenses	$ 8
Options to extend lease term, minimum	one month
Options to extend lease term, maximum	25 years
IFRS 16 \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of quantitative information about leases for lessee [Line Items]
Right-of-use assets		6	6
Other property, plant and equipment [member]
Disclosure of quantitative information about leases for lessee [Line Items]
Right-of-use assets	$ 21	10	4
Other property, plant and equipment [member] \| IFRS 16
Disclosure of quantitative information about leases for lessee [Line Items]
Right-of-use assets		6
Other property, plant and equipment [member] \| IFRS 16 \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of quantitative information about leases for lessee [Line Items]
Right-of-use assets		$ 6	$ 6

Financial Instruments by Cate_3

Financial Instruments by Category Disclosure of Financial Assets (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018		Dec. 31, 2017	Dec. 31, 2016
Disclosure of financial assets [line items]
Trade and other receivables, net		$ 456		$ 427
Restricted cash and cash equivalents		15		13
Cash and cash equivalents	$ 1,592	2,471	$ 1,785	2,676	[1]	$ 1,239	$ 1,284
Financial assets		2,979		3,134
Financial assets at amortised cost, category [member]
Disclosure of financial assets [line items]
Trade and other receivables, net		456		427
Restricted cash and cash equivalents		15		13
Cash and cash equivalents		2,471		2,676
Deposits		3		3
Financial assets at amortised cost		2,945		3,119
Interest rate swap contract [member] \| Financial assets at fair value through profit or loss, category [member]
Disclosure of financial assets [line items]
Derivative financial instruments		$ 34		$ 15

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.

Financial Instruments by Cate_4

Financial Instruments by Category Disclosure of Financial Liabilities (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of financial liabilities [line items]
Trade and other payables		$ 1,459	$ 1,635
Borrowings	$ 7,073	5,608	5,562
Financial liabilities		7,067	7,197
Financial liabilities at amortised cost, category [member]
Disclosure of financial liabilities [line items]
Trade and other payables		1,459	1,635
Borrowings		$ 5,608	$ 5,562

Disclosure of Intangible Assets

Disclosure of Intangible Assets (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about intangible assets [line items]
Intangible assets, opening amount	[1]	$ 46
Intangible assets, closing amount		48	$ 46	[1]
Computer software [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets, opening amount		46	34
Additions		18	24
Amortization		(16)	(12)
Intangible assets, closing amount		48	46
Computer software [member] \| Cost [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets, opening amount		112	88
Intangible assets, closing amount		130	112
Computer software [member] \| Accumulated amortization [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets, opening amount		(66)	(54)
Intangible assets, closing amount		$ (82)	$ (66)

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.

Movements of Deferred Tax Liabi

Movements of Deferred Tax Liabilities (Details) - Accelerated depreciation allowance [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of income tax [Line Items]
Deferred tax liability, opening balance	$ (50)	$ (62)
Credit for the year	5	12
Deferred tax liability, ending balance	$ (45)	$ (50)

Unrecognized Deferred Tax Asset

Unrecognized Deferred Tax Assets (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unused tax losses for which no deferred tax asset recognised	$ 287	$ 276
Unused tax losses [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unused tax losses for which no deferred tax asset recognised	283	270
Pre-opening expense [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unused tax losses for which no deferred tax asset recognised	$ 4	$ 6

Deferred Income Tax Liabiliti_3

Deferred Income Tax Liabilities - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized tax losses	$ 2,311	$ 2,210
Bottom of range [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized tax losses, expiration	1 year
Top of range [member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized tax losses, expiration	3 years
Net operating losses that can be carried forward indefinitely [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized tax losses	$ 120	122
Net operating losses expiring within one to three years [Member]
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized tax losses	$ 2,191	$ 2,088

Disclosure of detailed inform_3

Disclosure of detailed information about trade and other receivables and prepayments (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Trade and other receivables [abstract]
Trade receivables		$ 506	$ 461	[1]
Provision for expected credit losses	$ (112)	(106)	(94)	[1]
Trade receivables, net	229	400	367	[1]
Other receivables		56	60	[1]
Prepayments		49	41	[1]
Deferred rent		81	81	[1]
Amortization of deferred rent		(50)	(46)	[1]
Provision for doubtful deferred rent		(3)	(4)	[1]
Prepayments, net		77	72	[1]
Trade and other receivables		533	499	[1]
Less: non-current portion:
Prepayments		(6)	(3)	[1]
Deferred rent		(17)	(19)	[1]
Non-current portion		(23)	(22)	[1]
Current portion	$ 355	$ 510	$ 477	[2]

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.
[2]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.

Trade and other receivables by

Trade and other receivables by currency (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Trade and other receivables by currency [Line Items]
Trade and other receivables, net	$ 456	$ 427
HK$
Trade and other receivables by currency [Line Items]
Trade and other receivables, net	386	341
US$
Trade and other receivables by currency [Line Items]
Trade and other receivables, net	52	57
MOP
Trade and other receivables by currency [Line Items]
Trade and other receivables, net	$ 18	$ 29

Trade receivables aging (Detail

Trade receivables aging (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Trade receivables aging [Line Items]
Trade receivables	$ 229	$ 400	$ 367	[1]
0–30 days
Trade receivables aging [Line Items]
Trade receivables	107	259	236
31–60 days
Trade receivables aging [Line Items]
Trade receivables	4	42	39
61–90 days
Trade receivables aging [Line Items]
Trade receivables	2	26	28
Over 90 days
Trade receivables aging [Line Items]
Trade receivables	$ 116	$ 73	$ 64

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.

Exposure to Credit Risk for Tra

Exposure to Credit Risk for Trade Receivables (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of financial assets that are either past due or impaired [line items]
Trade receivables, before provision	$ 506	$ 461	[1]
Current (not past due)
Disclosure of financial assets that are either past due or impaired [line items]
Expected credit loss rate	0.00%
1-90 days past due \| Bottom of range [member]
Disclosure of financial assets that are either past due or impaired [line items]
Expected credit loss rate	2.00%
1-90 days past due \| Top of range [member]
Disclosure of financial assets that are either past due or impaired [line items]
Expected credit loss rate	10.00%
91-360 days past due \| Bottom of range [member]
Disclosure of financial assets that are either past due or impaired [line items]
Expected credit loss rate	15.00%
91-360 days past due \| Top of range [member]
Disclosure of financial assets that are either past due or impaired [line items]
Expected credit loss rate	25.00%
More than 360 days past due \| Bottom of range [member]
Disclosure of financial assets that are either past due or impaired [line items]
Expected credit loss rate	50.00%
More than 360 days past due \| Top of range [member]
Disclosure of financial assets that are either past due or impaired [line items]
Expected credit loss rate	100.00%
Trade receivables [member] \| Expected credit losses collectively assessed [member]
Disclosure of financial assets that are either past due or impaired [line items]
Trade receivables, before provision	$ 386	294
Trade receivables [member] \| Expected credit losses collectively assessed [member] \| Current (not past due)
Disclosure of financial assets that are either past due or impaired [line items]
Trade receivables, before provision	169	86
Trade receivables [member] \| Expected credit losses collectively assessed [member] \| 1-90 days past due
Disclosure of financial assets that are either past due or impaired [line items]
Trade receivables, before provision	97	102
Trade receivables [member] \| Expected credit losses collectively assessed [member] \| 91-360 days past due
Disclosure of financial assets that are either past due or impaired [line items]
Trade receivables, before provision	62	56
Trade receivables [member] \| Expected credit losses collectively assessed [member] \| More than 360 days past due
Disclosure of financial assets that are either past due or impaired [line items]
Trade receivables, before provision	$ 58	$ 50

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.

Movements of Lifetime Expected

Movements of Lifetime Expected Credit Losses (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018		Dec. 31, 2017
Disclosure of financial assets that are either past due or impaired [line items]
Provision for expected credit losses, beginning balance	[1]	$ 94
Provision for expected credit losses, net		24	$ 9		$ 0	[2]
Exchange difference		1	0
Provision for expected credit losses, ending balance		106	94	[1]
Trade receivables [member]
Disclosure of financial assets that are either past due or impaired [line items]
Provision for expected credit losses, beginning balance		94	111
Provision for expected credit losses, net		24	7
Amounts written-off		(13)	(24)
Provision for expected credit losses, ending balance		$ 106	$ 94		$ 111

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.
[2]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.

Trade and Other Receivables a_3

Trade and Other Receivables and Prepayments, Net - Additional Information (Details) $ in Millions	6 Months Ended	12 Months Ended
	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)		Dec. 31, 2017USD ($)	[2]
Trade and other receivables and prepayments, net [Line Items]
Minimum credit period granted to selected premium and mass market players	7	7
Maximum credit period granted to selected premium and mass market players	15	15
Credit play, as a percentage of total table games play		14.70%	15.30%
Gross casino receivables, after provision for doubtful accounts		$ 374	$ 442
Commissions payable and front money deposits		78	191
Net casino receivables, after provision of doubtful accounts		$ 296	$ 251
Concentration of credit risk, as a percentage of casino receivables		41.90%	33.30%
Trade receivables	$ 229	$ 400	$ 367	[1]
Trade receivables, before provision		506	461	[1]
Provision for expected credit losses, net		24	9		$ 0
Expected credit losses individually assessed [member] \| Trade receivables [member]
Trade and other receivables and prepayments, net [Line Items]
Trade receivables, before provision		120	167
Financial assets past due but not impaired [member]
Trade and other receivables and prepayments, net [Line Items]
Trade receivables		288	247
Deferred rent [Member]
Trade and other receivables and prepayments, net [Line Items]
Provision for expected credit losses, net		$ 0	$ 2

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.
[2]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.

Cash and Cash Equivalents Discl

Cash and Cash Equivalents Disclosure of Detailed Information About Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018		Dec. 31, 2017	Dec. 31, 2016
Cash and cash equivalents [abstract]
Cash at bank and on hand		$ 585		$ 503
Short-term bank deposits	$ 1,390	1,886	$ 1,300	2,173
Total cash and cash equivalents	$ 1,592	$ 2,471	$ 1,785	$ 2,676	[1]	$ 1,239	$ 1,284

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.

Cash and Cash Equivalents and C

Cash and Cash Equivalents and Cash Equivalents by Currency (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018		Dec. 31, 2017	Dec. 31, 2016
Cash and cash equivalents by currency [Line Items]
Cash and cash equivalents	$ 1,592	$ 2,471	$ 1,785	$ 2,676	[1]	$ 1,239	$ 1,284
HK$
Cash and cash equivalents by currency [Line Items]
Cash and cash equivalents		1,712		1,497
US$
Cash and cash equivalents by currency [Line Items]
Cash and cash equivalents		639		1,066
MOP
Cash and cash equivalents by currency [Line Items]
Cash and cash equivalents		82		82
Singapore dollar
Cash and cash equivalents by currency [Line Items]
Cash and cash equivalents		15		10
Japanese Yen
Cash and cash equivalents by currency [Line Items]
Cash and cash equivalents		14		13
RMB
Cash and cash equivalents by currency [Line Items]
Cash and cash equivalents		$ 9		$ 8

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.

Cash and Cash Equivalents - Add

Cash and Cash Equivalents - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Cash and cash equivalents [Member]
Cash and cash equivalents [Line Items]
Maximum exposure to credit risk	$ 2,277	$ 2,494
Bottom of range [member]
Cash and cash equivalents [Line Items]
Effective interest rate, short-term bank deposits, classified as cash equivalents	2.30%	1.40%
Maturity date, short-term bank deposits, classified as cash equivalents	12 days	8 days
Top of range [member]
Cash and cash equivalents [Line Items]
Effective interest rate, short-term bank deposits, classified as cash equivalents	2.90%	3.10%
Maturity date, short-term bank deposits, classified as cash equivalents	61 days	88 days

Disclosure of Detailed Inform_4

Disclosure of Detailed Information About Classes of Share Capital (Details) - USD ($) $ / shares in Units, $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of classes of share capital [line items]
Par value per share	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Share capital, opening balance	$ 81	$ 81	$ 81
Share capital, ending balance	$ 81		$ 81	$ 81
Ordinary shares [member]
Disclosure of classes of share capital [line items]
Number of shares authorised			16,000,000,000	16,000,000,000	16,000,000,000	16,000,000,000
Number of shares issued and fully paid, opening balance	8,088,352,216	8,080,603,691	8,080,603,691	8,074,417,766	8,071,130,245
Number of shares issued during the year and upon exercise of stock options	714,900	6,091,900	7,748,525	6,185,925	3,287,521
Number of shares issued and fully paid, ending balance	8,089,067,116	8,086,695,591	8,088,352,216	8,080,603,691	8,074,417,766
Authorized capital			$ 160	$ 160	$ 160	$ 160
Share capital, opening balance	$ 81	$ 81	81	81	81
Equity issued during the year upon exercise of share options	0	0	0	0	0
Share capital, ending balance	$ 81	$ 81	$ 81	$ 81	$ 81

Reserves - Additional Informati

Reserves - Additional Information (Details)	12 Months Ended
Reserves - Additional Information (Details)	Dec. 31, 2019
Macao Commercial Code 432 [Member]
Disclosure of reserves within equity [line items]
Percentage of profit after taxation required to be transferred to statutory reserves	10.00%
Statutory reserve balance, as a percentage of total capital	25.00%
Macao Commercial Code 377 [Member]
Disclosure of reserves within equity [line items]
Percentage of profit after taxation required to be transferred to statutory reserves	25.00%
Statutory reserve balance, as a percentage of total capital	50.00%

Trade and Other Payables (Detai

Trade and Other Payables (Details) - USD ($) $ in Millions	Jun. 30, 2020		Dec. 31, 2019		Dec. 31, 2018
Trade and other payables [abstract]
Trade payables	$ 22		$ 47		$ 33
Customer deposits and other deferred revenue	421	[1]	395	[1]	497
Outstanding chips liability	382	[1]	485	[1],[2]	514	[2]
Construction payables and accruals	283		278		147
Interest payables	138		130		125
Accrued employee benefit expenses	96		174		155
Other tax payables	31		302		325
Loyalty program liability	30	[1]	31	[1],[2]	33	[2]
Casino liabilities	24		41		67
Payables to related companies - non-trade	8		9		9
Other payables and accruals	54		104		127
Trade and other payables	1,489		1,996		2,032
Trade and other non-current payables	(119)		(122)		(104)
Trade and other current payables	$ 1,370		$ 1,874		$ 1,928

[1]	These balances represent the Group’s main types of liabilities associated with contracts with customers. With the exception of mall deposits, which typically extend beyond a year based on the terms of the lease, these liabilities are generally expected to be recognized as revenue or redeemed for cash within one year of being purchased, earned or deposited.
[2]	These balances represent the Group’s main types of liabilities associated with contracts with customers.

Trade and Other Payables Curren

Trade and Other Payables Currency (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Trade and other payables by currency [Line Items]
Trade and other payables	$ 1,459	$ 1,635
HK$
Trade and other payables by currency [Line Items]
Trade and other payables	832	997
MOP
Trade and other payables by currency [Line Items]
Trade and other payables	475	483
US$
Trade and other payables by currency [Line Items]
Trade and other payables	137	145
Other currencies
Trade and other payables by currency [Line Items]
Trade and other payables	$ 15	$ 10

Trade and Other Payables Trade

Trade and Other Payables Trade Payables Aging (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Trade payables aging [Line Items]
Trade payables	$ 22	$ 47	$ 33
0–30 days
Trade payables aging [Line Items]
Trade payables	17	33	27
31–60 days
Trade payables aging [Line Items]
Trade payables	2	6	3
61–90 days
Trade payables aging [Line Items]
Trade payables	1	6	2
Over 90 days
Trade payables aging [Line Items]
Trade payables	$ 2	$ 2	$ 1

Disclosure of Detailed Inform_5

Disclosure of Detailed Information About Borrowings (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Jan. 01, 2019	Dec. 31, 2018
Non-current portion
Senior Notes, unsecured	$ 7,013	$ 5,535		$ 5,515
Finance lease liabilities on leasehold interests in land				122
Lease liabilities	127	128	$ 127
Other finance lease liabilities				3
Non-current portion of non-current borrowings, including deferred financing costs	7,140	5,663		5,640
Less: deferred financing costs	(86)	(74)		(88)
Non-current portion of non-current borrowings	7,054	5,589		5,552
Current portion
Current finance lease liabilities on leasehold interests in land, secured				8
Lease liabilities	19	19	$ 14
Other finance lease liabilities				2
Current portion of non-current borrowings	19	19		10
Total borrowings	$ 7,073	$ 5,608		$ 5,562

Borrowings by Currency (Details

Borrowings by Currency (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about borrowings [line items]
Borrowings	$ 7,073	$ 5,608	$ 5,562
US$
Disclosure of detailed information about borrowings [line items]
Borrowings		5,461	5,427
MOP
Disclosure of detailed information about borrowings [line items]
Borrowings		130	135
HK$
Disclosure of detailed information about borrowings [line items]
Borrowings		$ 17	$ 0

Senior Notes by Maturity (Detai

Senior Notes by Maturity (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of detailed information about borrowings [line items]
Senior Notes, unsecured, excluding hedge adjustment	$ 5,500	$ 5,500
Fair value adjustment of the interest rate swaps	35	15
Senior Notes, unsecured	5,535	5,515
Later than two years and not later than five years [member]
Disclosure of detailed information about borrowings [line items]
Senior Notes, unsecured, excluding hedge adjustment	1,800	1,800
Later than five years [member]
Disclosure of detailed information about borrowings [line items]
Senior Notes, unsecured, excluding hedge adjustment	$ 3,700	$ 3,700

Borrowings - Additional Informa

Borrowings - Additional Information (Details) $ in Millions

Nov. 20, 2018USD ($)

Aug. 09, 2018USD ($)

Aug. 31, 2016USD ($)

Jun. 30, 2020USD ($)

Dec. 31, 2020

Dec. 31, 2019USD ($)

Dec. 31, 2018USD ($)

Dec. 31, 2017USD ($)

[1]

Jun. 04, 2020USD ($)

Mar. 27, 2020

Disclosure of detailed information about borrowings [line items]

Borrowings

$ 7,073

$ 5,608

$ 5,562

Loss on modification or early retirement of debt

(81)

$ 0

2023, 2025 and 2028 SCL Senior Notes [Member]

Disclosure of detailed information about borrowings [line items]

Financial liabilities, at fair value

$ 5,530

$ 5,520

Borrowings

$ 5,500

2023 Notes [Member]

Disclosure of detailed information about borrowings [line items]

Borrowings

$ 1,800

Borrowings, interest rate

4.60%

2025 Notes [Member]

Disclosure of detailed information about borrowings [line items]

Borrowings

$ 1,800

Borrowings, interest rate

5.125%

2028 Notes [Member]

Disclosure of detailed information about borrowings [line items]

Borrowings

$ 1,900

Borrowings, interest rate

5.40%

2026 and 2030 SCL Senior Notes [Member]

Disclosure of detailed information about borrowings [line items]

Borrowings

$ 1,500

Original issue discount and deferred financing costs

Proceeds from issue of bonds, senior notes and debentures net of original issue discount and deferred offering costs

1,480

2026 Notes [Member]

Disclosure of detailed information about borrowings [line items]

Borrowings

$ 800

Borrowings, interest rate

3.80%

2030 Notes [Member]

Disclosure of detailed information about borrowings [line items]

Borrowings

$ 700

Borrowings, interest rate

4.375%

2018 SCL Credit Facility [Member]

Disclosure of detailed information about borrowings [line items]

Maximum leverage ratio

Minimum interest coverage ratio

2.50

Debt instrument, ratio of indebtedness to adjusted EBITDA, waived

Debt Instrument, Ratio of Adjusted EBITDA to Net Interest Expense, Waived

2.50

2018 SCL Revolving Facility [Member]

Disclosure of detailed information about borrowings [line items]

Maximum borrowing capacity

$ 2,000

Unused capacity, commitment fee percentage

0.60%

Undrawn borrowing facilities

$ 2,020

$ 2,000

2018 SCL General Revolving Loan [Member]

Disclosure of detailed information about borrowings [line items]

Borrowings, interest rate basis

2.0

2018 SCL Swing-Line Loan Sub-Facility [Member]

Disclosure of detailed information about borrowings [line items]

Borrowings, interest rate basis

1.0

2016 VML Credit Facility [Member]

Disclosure of detailed information about borrowings [line items]

Unused capacity, commitment fee percentage

0.50%

Weighted average interest rate

3.10%

2.60%

Loss on modification or early retirement of debt

$ (9)

$ (72)

2016 VML Term Loans [Member]

Disclosure of detailed information about borrowings [line items]

Borrowings

$ 4,120

2016 VML Non-Extended Term Loans [Member]

Disclosure of detailed information about borrowings [line items]

Borrowings

269

2016 VML Revolving Facility [Member]

Disclosure of detailed information about borrowings [line items]

Borrowings

$ 2,000

[1]

Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.

Borrowings Disclosure of Reconc

Borrowings Disclosure of Reconciliation of Liabilities Arising From Financing Activities (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2019	Dec. 31, 2018		Dec. 31, 2017
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		$ 5,693	$ 4,393	[1]	$ 4,421
Increase (decrease) through financing cash flows, liabilities arising from financing activities		(2,340)	(1,122)	[1]	(2,219)
Increase (decrease) through unsettled interest rate swap changes , liabilities arising from financing activities		5
Increase (decrease) through other changes, liabilities arising from financing activities		2,348	2,312	[1]	2,203
Increase (decrease) through changes in amortization, liabilities arising from financing activities		15	22	[1]	21
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities		(3)	(12)	[1]	(23)
Increase (decrease) through true-up adjustments, liabilities arising from financing activities					(1)
Increase (decrease) through adjustments arising from change in lease term of leasehold interest in land, liabilities arising from financing activities					15
Increase (decrease) through loss (gain) on modification or early retirement of debt, liabilities arising from financing activities	[1]		79
Increase (decrease) through changes in fair values, liabilities arising from financing activities		20	15	[1]
Liabilities arising from financing activities, ending balance		5,738	5,693		4,393	[1]
Previously stated [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1]	5,687	4,417
Liabilities arising from financing activities, ending balance	[1]		5,687		4,417
Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		6
Liabilities arising from financing activities, ending balance			6
Increase (decrease) due to changes in accounting policy required by IFRSs [member] \| IFRS 9 [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1]		(24)
Liabilities arising from financing activities, ending balance	[1]				(24)
Bank loans [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[2]		4,348	[1]	4,388
Increase (decrease) through financing cash flows, liabilities arising from financing activities	[2]		(4,337)	[1]	(19)
Increase (decrease) through other changes, liabilities arising from financing activities	[2]		0	[1]	0
Increase (decrease) through changes in amortization, liabilities arising from financing activities	[2]		0	[1]	0
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities	[2]		(11)	[1]	(21)
Increase (decrease) through true-up adjustments, liabilities arising from financing activities	[2]				0
Increase (decrease) through adjustments arising from change in lease term of leasehold interest in land, liabilities arising from financing activities	[2]				0
Increase (decrease) through loss (gain) on modification or early retirement of debt, liabilities arising from financing activities	[1],[2]		0
Increase (decrease) through changes in fair values, liabilities arising from financing activities	[1],[2]		0
Liabilities arising from financing activities, ending balance	[1],[2]				4,348
Bank loans [Member] \| Previously stated [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1],[2]	0	4,348
Liabilities arising from financing activities, ending balance	[1],[2]		0		4,348
Bank loans [Member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member] \| IFRS 9 [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1],[2]		0
Liabilities arising from financing activities, ending balance	[1],[2]				0
SCL Senior Notes [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		5,515	0	[1]
Increase (decrease) through financing cash flows, liabilities arising from financing activities		0	5,500	[1]
Increase (decrease) through unsettled interest rate swap changes , liabilities arising from financing activities		0
Increase (decrease) through other changes, liabilities arising from financing activities		0	0	[1]
Increase (decrease) through changes in amortization, liabilities arising from financing activities		0	0	[1]
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities		0	0	[1]
Increase (decrease) through loss (gain) on modification or early retirement of debt, liabilities arising from financing activities	[1]		0
Increase (decrease) through changes in fair values, liabilities arising from financing activities		20	15	[1]
Liabilities arising from financing activities, ending balance		5,535	5,515		0	[1]
SCL Senior Notes [Member] \| Previously stated [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1]	5,515	0
Liabilities arising from financing activities, ending balance	[1]		5,515		0
SCL Senior Notes [Member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		0
Liabilities arising from financing activities, ending balance			0
SCL Senior Notes [Member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member] \| IFRS 9 [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1]		0
Liabilities arising from financing activities, ending balance	[1]				0
Finance lease liabilities on leasehold interests in land [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance			132	[1]	72
Increase (decrease) through financing cash flows, liabilities arising from financing activities			(13)	[1]	(2)
Increase (decrease) through other changes, liabilities arising from financing activities			11	[1]	0
Increase (decrease) through changes in amortization, liabilities arising from financing activities			0	[1]	0
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities			0	[1]	0
Increase (decrease) through true-up adjustments, liabilities arising from financing activities					(1)
Increase (decrease) through adjustments arising from change in lease term of leasehold interest in land, liabilities arising from financing activities					63
Increase (decrease) through loss (gain) on modification or early retirement of debt, liabilities arising from financing activities	[1]		0
Increase (decrease) through changes in fair values, liabilities arising from financing activities	[1]		0
Liabilities arising from financing activities, ending balance	[1]				132
Finance lease liabilities on leasehold interests in land [Member] \| Previously stated [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1]	130	132
Liabilities arising from financing activities, ending balance	[1]		130		132
Finance lease liabilities on leasehold interests in land [Member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member] \| IFRS 9 [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1]		0
Liabilities arising from financing activities, ending balance	[1]				0
Finance lease liabilities, other
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance			5	[1]	8
Increase (decrease) through financing cash flows, liabilities arising from financing activities			(2)	[1]	(3)
Increase (decrease) through other changes, liabilities arising from financing activities			2	[1]	0
Increase (decrease) through changes in amortization, liabilities arising from financing activities			0	[1]	0
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities			0	[1]	0
Increase (decrease) through true-up adjustments, liabilities arising from financing activities					0
Increase (decrease) through adjustments arising from change in lease term of leasehold interest in land, liabilities arising from financing activities					0
Increase (decrease) through loss (gain) on modification or early retirement of debt, liabilities arising from financing activities	[1]		0
Increase (decrease) through changes in fair values, liabilities arising from financing activities	[1]		0
Liabilities arising from financing activities, ending balance	[1]				5
Finance lease liabilities, other \| Previously stated [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1]	5	5
Liabilities arising from financing activities, ending balance	[1]		5		5
Finance lease liabilities, other \| Increase (decrease) due to changes in accounting policy required by IFRSs [member] \| IFRS 9 [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1]		0
Liabilities arising from financing activities, ending balance	[1]				0
Deferred financing costs [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		(88)	(97)	[1]	(94)
Increase (decrease) through financing cash flows, liabilities arising from financing activities		(2)	(90)	[1]	0
Increase (decrease) through unsettled interest rate swap changes , liabilities arising from financing activities		0
Increase (decrease) through other changes, liabilities arising from financing activities		1	(2)	[1]	0
Increase (decrease) through changes in amortization, liabilities arising from financing activities		15	22	[1]	21
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities		0	0	[1]	0
Increase (decrease) through true-up adjustments, liabilities arising from financing activities					0
Increase (decrease) through adjustments arising from change in lease term of leasehold interest in land, liabilities arising from financing activities					0
Increase (decrease) through loss (gain) on modification or early retirement of debt, liabilities arising from financing activities	[1]		79
Increase (decrease) through changes in fair values, liabilities arising from financing activities		0	0	[1]
Liabilities arising from financing activities, ending balance		(74)	(88)		(97)	[1]
Deferred financing costs [Member] \| Previously stated [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1]	(88)	(73)
Liabilities arising from financing activities, ending balance	[1]		(88)		(73)
Deferred financing costs [Member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		0
Liabilities arising from financing activities, ending balance			0
Deferred financing costs [Member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member] \| IFRS 9 [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1]		(24)
Liabilities arising from financing activities, ending balance	[1]				(24)
Interest payables [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		125	5	[1]	47
Increase (decrease) through financing cash flows, liabilities arising from financing activities		(274)	(128)	[1]	(128)
Increase (decrease) through unsettled interest rate swap changes , liabilities arising from financing activities		5
Increase (decrease) through other changes, liabilities arising from financing activities		274	248	[1]	134
Increase (decrease) through changes in amortization, liabilities arising from financing activities		0	0	[1]	0
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities		0	0	[1]	0
Increase (decrease) through true-up adjustments, liabilities arising from financing activities					0
Increase (decrease) through adjustments arising from change in lease term of leasehold interest in land, liabilities arising from financing activities					(48)
Increase (decrease) through loss (gain) on modification or early retirement of debt, liabilities arising from financing activities	[1]		0
Increase (decrease) through changes in fair values, liabilities arising from financing activities		0	0	[1]
Liabilities arising from financing activities, ending balance		130	125		5	[1]
Interest payables [Member] \| Previously stated [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1]	125	5
Liabilities arising from financing activities, ending balance	[1]		125		5
Interest payables [Member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		0
Liabilities arising from financing activities, ending balance			0
Interest payables [Member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member] \| IFRS 9 [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1]		0
Liabilities arising from financing activities, ending balance	[1]				0
Dividend payables [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		0	0	[1]	0
Increase (decrease) through financing cash flows, liabilities arising from financing activities		(2,051)	(2,052)	[1]	(2,067)
Increase (decrease) through unsettled interest rate swap changes , liabilities arising from financing activities		0
Increase (decrease) through other changes, liabilities arising from financing activities		2,054	2,053	[1]	2,069
Increase (decrease) through changes in amortization, liabilities arising from financing activities		0	0	[1]	0
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities		(3)	(1)	[1]	(2)
Increase (decrease) through true-up adjustments, liabilities arising from financing activities					0
Increase (decrease) through adjustments arising from change in lease term of leasehold interest in land, liabilities arising from financing activities					0
Increase (decrease) through loss (gain) on modification or early retirement of debt, liabilities arising from financing activities	[1]		0
Increase (decrease) through changes in fair values, liabilities arising from financing activities		0	0	[1]
Liabilities arising from financing activities, ending balance		0	0		0	[1]
Dividend payables [Member] \| Previously stated [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1]	0	0
Liabilities arising from financing activities, ending balance	[1]		0		0
Dividend payables [Member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		0
Liabilities arising from financing activities, ending balance			0
Dividend payables [Member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member] \| IFRS 9 [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1]		0
Liabilities arising from financing activities, ending balance	[1]				$ 0
Lease liabilities [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		141
Increase (decrease) through financing cash flows, liabilities arising from financing activities		(13)
Increase (decrease) through unsettled interest rate swap changes , liabilities arising from financing activities		0
Increase (decrease) through other changes, liabilities arising from financing activities		19
Increase (decrease) through changes in amortization, liabilities arising from financing activities		0
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities		0
Increase (decrease) through changes in fair values, liabilities arising from financing activities		0
Liabilities arising from financing activities, ending balance		147	141
Lease liabilities [member] \| Previously stated [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		135
Liabilities arising from financing activities, ending balance			135
Lease liabilities [member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		$ 6
Liabilities arising from financing activities, ending balance			$ 6

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.
[2]	The cash flows from bank loans make up the net amount of proceeds from bank loans and repayments of bank loans in the statement of cash flows.

Derivative Financial instrume_2

Derivative Financial instruments - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Aug. 31, 2018
Disclosure of detailed information about hedging instruments [line items]
Fair value adjustment of the interest rate swaps			$ 35	$ 15
2023, 2025 and 2028 SCL Senior Notes [Member]
Disclosure of detailed information about hedging instruments [line items]
Fair value adjustment of the interest rate swaps	$ 13		35	15
Interest rate swap contract [member] \| Fair value hedges [member]
Disclosure of detailed information about hedging instruments [line items]
Notional amount			5,500	5,500	$ 5,500
Gain (loss) on hedge ineffectiveness recognised in profit or loss			0
Interest rate swap contract [member] \| Fair value hedges [member] \| Interest expense [Member]
Disclosure of detailed information about hedging instruments [line items]
Gains (losses) on hedging instrument, fair value hedges	40	$ 5	23	9
Interest rate swap contract [member] \| Fair value hedges [member] \| Other assets, net, non-current [Member] \| Unrealized [Member]
Disclosure of detailed information about hedging instruments [line items]
Derivative financial assets				15
Interest rate swap contract [member] \| Fair value hedges [member] \| Other assets, net, current [Member] \| Unrealized [Member]
Disclosure of detailed information about hedging instruments [line items]
Derivative financial assets	13		35
Interest rate swap contract [member] \| Fair value hedges [member] \| Trade and other receivables and prepayments, net [Member] \| Realized [Member]
Disclosure of detailed information about hedging instruments [line items]
Interest receivable	60		47	41
Interest rate swap contract [member] \| Level 2 of fair value hierarchy [member] \| Fair value hedges [member]
Disclosure of detailed information about hedging instruments [line items]
Interest rate swap, at fair value	$ 73		$ 82	$ 56

Cash Generated From Operations

Cash Generated From Operations (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018		Dec. 31, 2017
Statement of cash flows [abstract]
(Loss) profit before income tax	$ (716)	$ 1,061	$ 2,033	$ 1,868		$ 1,625	[1]
Adjustments for interest income			(38)	(20)		(5)
Adjustments for interest and other finance costs			265	203		132
Adjustments for depreciation and amortisation expense			706	655		676
Amortization of deferred financing costs			15	22		21
Adjustments for amortization of deferred rent			13	15		15
Adjustments for amortization of other assets			3	3		3
Adjustments for loss on disposal of property and equipment, investment properties and intangible assets	$ 7	$ 3	16	131	[2]	12	[3]
Impairment loss on property and equipment			65	0		0	[3]
Adjustments for loss on modification or early retirement of debt			0	81		0	[1]
Provision for doubtful accounts, net			0	0		4	[3]
Additional allowance recognised in profit or loss, allowance account for credit losses of financial assets			24	9		0	[3]
Adjustments for equity-settled share-based compensation expense, net of amounts capitalized			13	13		12
Adjustments for unrealised foreign exchange losses (gains)			(34)	(5)		11
Changes in other assets			(5)	(1)		(1)
Changes in inventories			(2)	1		(1)
Changes in trade and other receivables and prepayments			(65)	(180)		37
Changes in trade and other payables			(191)	260		91
Cash generated from operations			$ 2,818	$ 3,055		$ 2,632

[1]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[2]	The loss on disposal of property and equipment, investment properties and intangible assets for the year ended December 31, 2018 primarily consisted of a loss of US$128 million on asset disposals related to the preparation of the construction site for The Grand Suites at Four Seasons.
[3]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.

Related Party Transactions Mana

Related Party Transactions Management Fee Income (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of transactions between related parties [line items]
Management fee income			$ 5	$ 5	$ 5
LVS
Disclosure of transactions between related parties [line items]
Management fee income			0	1	1
Intermediate holding company
Disclosure of transactions between related parties [line items]
Management fee income			0	0	1
Fellow subsidiaries
Disclosure of transactions between related parties [line items]
Management fee income	$ 2	$ 2	$ 5	$ 4	$ 3

Related Party Transactions Ma_2

Related Party Transactions Management Fee Expense (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Disclosure of transactions between related parties [line items]
Management fee expense			$ 26	$ 27	$ 20
LVS
Disclosure of transactions between related parties [line items]
Management fee expense	$ 7	$ 9	19	20	14
Fellow subsidiaries
Disclosure of transactions between related parties [line items]
Management fee expense	$ 2	$ 3	$ 7	$ 7	$ 6

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)	6 Months Ended		12 Months Ended			38 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2012
Disclosure of transactions between related parties [line items]
Management fee income			$ 5,000,000	$ 5,000,000	$ 5,000,000
Management fee expense			26,000,000	27,000,000	20,000,000
Key management personnel compensation	$ 3,000,000	$ 3,000,000
Royalty fees			113,000,000	112,000,000	103,000,000
Fellow subsidiaries
Disclosure of transactions between related parties [line items]
Management fee income	2,000,000	2,000,000	5,000,000	4,000,000	3,000,000
Management fee expense	2,000,000	3,000,000	7,000,000	7,000,000	6,000,000
LVS
Disclosure of transactions between related parties [line items]
Management fee income			0	1,000,000	1,000,000
Management fee expense	7,000,000	9,000,000	19,000,000	20,000,000	14,000,000
LVS \| Robert Glen Goldstein [Member]
Disclosure of transactions between related parties [line items]
Management fee expense	$ 1,000,000	2,000,000	$ 4,000,000	3,000,000	3,000,000
Related parties [member]
Disclosure of transactions between related parties [line items]
Average credit period, payables	45 days		45 days
Corporate expense [Member]
Disclosure of transactions between related parties [line items]
Royalty fees	$ 11,000,000	$ 56,000,000	$ 110,000,000	$ 106,000,000	$ 98,000,000
Sands Macao, The Venetian Macao and The Plaza Macao, combined [Member]
Disclosure of transactions between related parties [line items]
Royalty fee cap, annual increase, percent			20.00%
Sands Macao, The Venetian Macao and The Plaza Macao, combined [Member] \| Top of range [member]
Disclosure of transactions between related parties [line items]
Royalty fees						$ 20,000,000
Sands Macao [Member]
Disclosure of transactions between related parties [line items]
Royalty fee, percent of revenues						1.50%
The Venetian Macao [Member]
Disclosure of transactions between related parties [line items]
Royalty fee, percent of revenues						1.50%
The Plaza Macao [Member]
Disclosure of transactions between related parties [line items]
Royalty fee, percent of revenues						1.50%
Subsequent casino gaming properties [Member]
Disclosure of transactions between related parties [line items]
Royalty fee, percent of revenues			1.50%
Royalty fee cap, annual increase, percent			20.00%
Subsequent casino gaming properties [Member] \| Top of range [member]
Disclosure of transactions between related parties [line items]
Royalty fees			$ 20,000,000

Related Party Transactions Rela

Related Party Transactions Related Party Balances (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of transactions between related parties [line items]
Payables to related companies	$ 8	$ 9	$ 9
LVS
Disclosure of transactions between related parties [line items]
Payables to related companies	8	3	4
Intermediate holding company
Disclosure of transactions between related parties [line items]
Payables to related companies	0	5	4
Fellow subsidiaries
Disclosure of transactions between related parties [line items]
Receivables due from fellow subsidiaries	0	2	0
Payables to related companies	$ 0	$ 1	$ 1

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2019USD ($)shares$ / shares	Dec. 31, 2018USD ($)shares$ / shares	Dec. 31, 2017USD ($)shares$ / shares
2009 SCL Equity Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares authorised	804,786,508
Number of shares authorized, as a percentage of outstanding stock	10.00%
Weighted average share price at the date of exercise for share options exercised during period \| $ / shares	$ 5.26	$ 5.72	$ 4.74
Expense from cash-settled share-based payment transactions in which goods or services received did not qualify for recognition as assets \| $		$ 0	$ 0
2009 SCL Equity Plan [Member] \| Maximum [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Expense from cash-settled share-based payment transactions in which goods or services received did not qualify for recognition as assets \| $	$ 1
2009 SCL Equity Plan [Member] \| Cash-settled restricted stock units [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of other equity instruments modified to cash-settled from equity-settled		0	852,000
Share-based liabilities paid in share-based payment arrangement \| $		$ 5	$ 3
Liabilities from share-based payment transactions \| $	$ 1		$ 4
LVSC 2004 Equity Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares authorised		26,344,000
Number of shares available for grant	9,777,920
Weighted average share price at the date of exercise for share options exercised during period \| $ / shares		$ 77.66	$ 69.08
Number of additional shares authorized	10,000,000
Share-based expense allocated \| $	$ 0.3	$ 0.3	$ 0.6
2019 SCL Equity Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares authorised	808,619,139
Number of shares authorized, as a percentage of outstanding stock	10.00%
Number of shares available for grant	808,619,139
Granted (in shares)	0

Summary of share option activit

Summary of share option activity, SCL Equity Plan (Details) - 2009 SCL Equity Plan [Member] - Share options [Member] shares in Thousands	12 Months Ended
	Dec. 31, 2019shares$ / shares	Dec. 31, 2018shares$ / shares	Dec. 31, 2017shares$ / shares
Disclosure of number and weighted average exercise prices of share options [Line Items]
Outstanding beginning balance (in shares) \| shares	57,382	48,252	38,185
Granted (in shares) \| shares	19,410	18,873	17,364
Exercised (in shares) \| shares	(7,749)	(6,186)	(3,287)
Forfeited (in shares) \| shares	(4,169)	(3,557)	(4,010)
Outstanding ending balance (in shares) \| shares	64,874	57,382	48,252
Exercisable at the end of the period (in shares) \| shares	22,214	18,152	14,608
Outstanding, beginning balance, weighted average exercise price (in usd per share) \| $ / shares	$ 4.81	$ 4.39	$ 4.48
Granted, weighted average exercise price (in usd per share) \| $ / shares	5.08	5.62	4.23
Exercised, weighted average exercise price (in usd per share) \| $ / shares	3.65	3.74	3.61
Forfeited, weighted average exercise price (in usd per share) \| $ / shares	5.35	5.24	5.20
Outstanding, ending balance, weighted average exercise price (in usd per share) \| $ / shares	4.99	4.81	4.39
Exercisable at the end of the period, weighted average exercise price (in usd per share) \| $ / shares	$ 5.10	$ 5	$ 5.02

Disclosure of range of exercise

Disclosure of range of exercise prices of outstanding share options, SCL Equity Plan (Details) - 2009 SCL Equity Plan [Member] - Share options [Member] - shares shares in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	64,874	57,382	48,252	38,185
Weighted average remaining contractual life	7 years 5 months 26 days	7 years 7 months 20 days	7 years 9 months 25 days
1.01 - 2.00 [Member]
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	210	811	893
Weighted average remaining contractual life	5 months 1 day	1 year 3 months 14 days	2 years 3 months 18 days
2.01 - 3.00 [Member]
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	76	283	470
Weighted average remaining contractual life	1 year 10 months 9 days	2 years 9 months 18 days	3 years 8 months 26 days
3.01 - 4.00 [Member]
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	11,045	14,805	19,311
Weighted average remaining contractual life	5 years 10 months 17 days	6 years 11 months 8 days	7 years 9 months 14 days
4.01 - 5.00 [Member]
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	16,092	18,673	20,108
Weighted average remaining contractual life	7 years 4 months 28 days	8 years	8 years 9 months 3 days
5.01 - 6.00 [Member]
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	31,292	15,991	592
Weighted average remaining contractual life	8 years 7 months 24 days	9 years 3 days	5 years 9 months 25 days
6.01 - 7.00 [Member]
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	2,023	2,227	1,868
Weighted average remaining contractual life	6 years 5 months 1 day	7 years 3 months 3 days	6 years 6 months 21 days
7.01 - 8.00 [Member]
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	2,098	2,554	2,972
Weighted average remaining contractual life	4 years 3 months 25 days	5 years 3 months 14 days	6 years 3 months 10 days
8.01 - 9.00 [Member]
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	2,038	2,038	2,038
Weighted average remaining contractual life	4 years 2 months 15 days	5 years 2 months 15 days	6 years 2 months 15 days

Disclosure of indirect measurem

Disclosure of indirect measurement of fair value of goods or services received, share options granted during period, SCL Equity Plan (Details) - 2009 SCL Equity Plan [Member] - Share options [Member]	12 Months Ended
	Dec. 31, 2019USD ($)yr$ / shares	Dec. 31, 2018USD ($)yr$ / shares	Dec. 31, 2017USD ($)yr$ / shares
Disclosure of indirect measurement of fair value of goods or services received, share options granted during period [Line Items]
Expected volatility	36.90%	36.00%	36.90%
Expected life (years) \| yr	4.8	4.7	4.4
Risk-free annual interest rate	1.70%	1.70%	1.30%
Expected dividends	5.00%	5.80%	6.60%
Weighted average share price at the date of grant (US$)	$ 5.06	$ 5.58	$ 4.23
Weighted average exercise price (US$)	$ 5.08	$ 5.62	$ 4.23
Weighted average fair value of each share option granted by the Company (US$) \| $	$ 1.03	$ 1.01	$ 0.71

Summary of Restricted Share Uni

Summary of Restricted Share Units Activity, SCL Equity Plan - Part 1 (Details) - 2009 SCL Equity Plan [Member]	12 Months Ended
	Dec. 31, 2019shares$ / shares	Dec. 31, 2018shares$ / shares	Dec. 31, 2017shares$ / shares
Restricted stock units [Member]
Summary of restricted share units activity [Line Items]
Unvested beginning balance (in shares)	0	0	852,000
Modified to cash-settled		0	(852,000)
Modified from equity-settled		0	852,000
Vested (in shares)	0
Unvested ending balance (in shares)	1,407,000	0	0
Unvested, weighted average grant date fair value, beginning balance (in usd per share) \| $ / shares	$ 0	$ 0	$ 7.51
Modified to cash-settled/from equity-settled, weighted average grant date fair value (in usd per share) \| $ / shares		0	7.51
Vested, weighted average grant date fair value (in usd per share) \| $ / shares	0
Unvested, weighted average grant date fair value, ending balance (in usd per share) \| $ / shares	$ 4.99	$ 0	$ 0
Cash-settled restricted stock units [Member]
Summary of restricted share units activity [Line Items]
Unvested beginning balance (in shares)	0	852,000	236,000
Modified to cash-settled		0	(852,000)
Modified from equity-settled		0	852,000
Vested (in shares)		(852,000)	(236,000)
Unvested ending balance (in shares)		0	852,000
Unvested, weighted average grant date fair value, beginning balance (in usd per share) \| $ / shares	$ 0	$ 7.51	$ 7.13
Modified to cash-settled/from equity-settled, weighted average grant date fair value (in usd per share) \| $ / shares		0	7.51
Vested, weighted average grant date fair value (in usd per share) \| $ / shares		7.51	7.13
Unvested, weighted average grant date fair value, ending balance (in usd per share) \| $ / shares		$ 0	$ 7.51

Summary of Restricted Share U_2

Summary of Restricted Share Units Activity, SCL Equity Plan - Part 2 (Details) - 2009 SCL Equity Plan [Member] shares in Thousands	12 Months Ended
	Dec. 31, 2019shares$ / shares	Dec. 31, 2018shares$ / shares	Dec. 31, 2017shares$ / shares
Restricted stock units [Member]
Summary of restricted share units activity [Line Items]
Unvested beginning balance (in shares) \| shares	0	0	852
Granted (in shares) \| shares	1,412
Vested (in shares) \| shares	0
Forfeited (in shares) \| shares	(5)
Unvested ending balance (in shares) \| shares	1,407	0	0
Unvested, weighted average grant date fair value, beginning balance (in usd per share) \| $ / shares	$ 0	$ 0	$ 7.51
Weighted average exercise price of other equity instruments granted in share-based payment arrangement \| $ / shares	4.99
Vested, weighted average grant date fair value (in usd per share) \| $ / shares	0
Weighted average exercise price of other equity instruments forfeited in share-based payment arrangement \| $ / shares	4.99
Unvested, weighted average grant date fair value, ending balance (in usd per share) \| $ / shares	$ 4.99	$ 0	$ 0
Cash-settled restricted stock units [Member]
Summary of restricted share units activity [Line Items]
Unvested beginning balance (in shares) \| shares	0	852	236
Vested (in shares) \| shares		(852)	(236)
Unvested ending balance (in shares) \| shares		0	852
Unvested, weighted average grant date fair value, beginning balance (in usd per share) \| $ / shares	$ 0	$ 7.51	$ 7.13
Vested, weighted average grant date fair value (in usd per share) \| $ / shares		7.51	7.13
Unvested, weighted average grant date fair value, ending balance (in usd per share) \| $ / shares		$ 0	$ 7.51

Summary of share option activ_2

Summary of share option activity, LVSC Equity Plan (Details) - LVSC 2004 Equity Plan [Member] - Share options [Member] shares in Thousands		12 Months Ended
		Dec. 31, 2019shares$ / shares	Dec. 31, 2018shares$ / shares	Dec. 31, 2017shares$ / shares
Disclosure of number and weighted average exercise prices of share options [Line Items]
Outstanding beginning balance (in shares) \| shares		57	198	357
Granted (in shares) \| shares		42	23	34
Exercised (in shares) \| shares		0	(62)	(34)
Transfer-out (in shares) \| shares	[1]	0	0	(12)
Expired (in shares) \| shares		0	(102)	(147)
Outstanding ending balance (in shares) \| shares		99	57	198
Exercisable at the end of the period (in shares) \| shares		30	11	164
Outstanding, beginning balance, weighted average exercise price (in usd per share) \| $ / shares		$ 69	$ 72.83	$ 71.20
Granted, weighted average exercise price (in usd per share) \| $ / shares		57.05	77.44	63.13
Exercised, weighted average exercise price (in usd per share) \| $ / shares		0	66.18	51.09
Transfer-out, weighted average exercise price (in usd per share) \| $ / shares	[1]	0	0	22.90
Expired, weighted average exercise price (in usd per share) \| $ / shares		0	80.08	75.93
Outstanding, ending balance, weighted average exercise price (in usd per share) \| $ / shares		63.97	69	72.83
Exercisable at the end of the period, weighted average exercise price (in usd per share) \| $ / shares		$ 66.82	$ 63.13	$ 74.83

[1]	Transfer-in and transfer-out represent movement of options owned by grantees who transferred from other subsidiaries of LVS to the Group, or vice versa.

Fair Value and Fair Value Hie_2

Fair Value and Fair Value Hierarchy of Financial Instruments - Additional Information (Details) - USD ($) $ in Millions	6 Months Ended		12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019	Dec. 31, 2019	Dec. 31, 2018	Aug. 31, 2018
Disclosure of financial liabilities [line items]
Fair value adjustment of the interest rate swaps			$ 35	$ 15
Interest rate swap contract [member] \| Fair value hedges [member]
Disclosure of financial liabilities [line items]
Notional amount			5,500	5,500	$ 5,500
Interest rate swap contract [member] \| Fair value hedges [member] \| Interest expense [Member]
Disclosure of financial liabilities [line items]
Gains (losses) on hedging instrument, fair value hedges	$ 40	$ 5	23	9
Interest rate swap contract [member] \| Fair value hedges [member] \| Other assets, net, non-current [Member] \| Unrealized [Member]
Disclosure of financial liabilities [line items]
Derivative financial assets				15
Interest rate swap contract [member] \| Fair value hedges [member] \| Other assets, net, current [Member] \| Unrealized [Member]
Disclosure of financial liabilities [line items]
Derivative financial assets	13		35
Interest rate swap contract [member] \| Fair value hedges [member] \| Trade and other receivables and prepayments, net [Member] \| Realized [Member]
Disclosure of financial liabilities [line items]
Interest receivable	60		47	41
Interest rate swap contract [member] \| Fair value hedges [member] \| Level 2 of fair value hierarchy [member]
Disclosure of financial liabilities [line items]
Interest rate swap, at fair value	73		82	56
SCL Senior Notes [Member]
Disclosure of financial liabilities [line items]
Fair value of long-term borrowings	7,490		5,530
2023, 2025 and 2028 SCL Senior Notes [Member]
Disclosure of financial liabilities [line items]
Fair value of long-term borrowings			5,530	5,520
Fair value adjustment of the interest rate swaps	$ 13		$ 35	$ 15

Financial Risk Management - Add

Financial Risk Management - Additional Information (Details) $ in Millions	Jun. 30, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Nov. 20, 2018	Aug. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Disclosure of nature and extent of risks arising from financial instruments [line items]
Carrying value of long-term borrowings	$ 7,073	$ 5,608	$ 5,562
2018 SCL Credit Facility [Member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Maximum leverage ratio		4	4	4
Leverage ratio at period end		1.8	1.9
US$
Disclosure of nature and extent of risks arising from financial instruments [line items]
Carrying value of long-term borrowings		$ 5,461	$ 5,427
HK$
Disclosure of nature and extent of risks arising from financial instruments [line items]
Carrying value of long-term borrowings		17	0
MOP
Disclosure of nature and extent of risks arising from financial instruments [line items]
Carrying value of long-term borrowings		130	135
Interest rate risk [member] \| US$
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure						$ 9
Interest rate risk [member] \| HK$
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure						10
Interest rate risk [member] \| MOP
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure						3
Currency risk [member] \| US$
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure		49	40			$ 15
Fixed interest rate [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Carrying value of long-term borrowings		5,500	5,500
Fixed interest rate [member] \| Interest rate risk [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure		303	308
Long-term borrowings [member] \| Level 2 of fair value hierarchy [member] \| Fixed interest rate [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Fair value of long-term borrowings		5,530	5,520
Interest rate swap contract [member] \| Fair value hedges [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Notional amount		5,500	5,500		$ 5,500
Interest rate swap contract [member] \| Interest rate risk [member] \| Fair value hedges [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure		34	88
Interest rate swap contract [member] \| Level 2 of fair value hierarchy [member] \| Fair value hedges [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Interest rate swap, at fair value	$ 73	$ 82	$ 56

Disclosure of Maturity Analysis

Disclosure of Maturity Analysis for Financial Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2019	Dec. 31, 2018
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Senior Notes principal, undiscounted cash flows	$ 5,500	$ 5,500
Senior Notes interest, undiscounted cash flows	1,809	2,085
Finance lease liabilities on leasehold interests in land, undiscounted cash flows		341
Finance lease liabilities, other, undiscounted cash flows		5
Lease liabilities, undiscounted cash flows	358
Trade and other payables, undiscounted cash flows	1,459	1,635
Not later than one year [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Senior Notes principal, undiscounted cash flows	0	0
Senior Notes interest, undiscounted cash flows	278	277
Finance lease liabilities on leasehold interests in land, undiscounted cash flows		8
Finance lease liabilities, other, undiscounted cash flows		2
Lease liabilities, undiscounted cash flows	20
Trade and other payables, undiscounted cash flows	1,359	1,546
Later than one year and not later than two years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Senior Notes principal, undiscounted cash flows	0	0
Senior Notes interest, undiscounted cash flows	278	277
Finance lease liabilities on leasehold interests in land, undiscounted cash flows		5
Finance lease liabilities, other, undiscounted cash flows		2
Lease liabilities, undiscounted cash flows	13
Trade and other payables, undiscounted cash flows	36	22
Later than three years and not later than five years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Senior Notes principal, undiscounted cash flows	1,800	1,800
Senior Notes interest, undiscounted cash flows	750	833
Finance lease liabilities on leasehold interests in land, undiscounted cash flows		16
Finance lease liabilities, other, undiscounted cash flows		1
Lease liabilities, undiscounted cash flows	18
Trade and other payables, undiscounted cash flows	43	55
Later than five years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Senior Notes principal, undiscounted cash flows	3,700	3,700
Senior Notes interest, undiscounted cash flows	503	698
Finance lease liabilities on leasehold interests in land, undiscounted cash flows		312
Lease liabilities, undiscounted cash flows	307
Trade and other payables, undiscounted cash flows	$ 21	$ 12

Disclosure of Capital Risk Mana

Disclosure of Capital Risk Management (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018		Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Disclosure of nature and extent of risks arising from financial instruments [line items]
Interest bearing borrowings, net of deferred financing costs		$ 5,461		$ 5,427
Cash and cash equivalents	$ (1,592)	(2,471)	$ (1,785)	(2,676)	[1]		$ (1,239)	$ (1,284)
Restricted cash and cash equivalents		(15)		(13)
Net debt		2,975		2,738
Total equity	$ 2,729	4,446	$ 3,456	4,409		$ 4,562	$ 4,538	$ 5,007
Total capital		$ 7,421		$ 7,147
Gearing ratio		40.10%		38.30%

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.

Capital Commitments (Details)

Capital Commitments (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Dec. 31, 2018
Commitments and contingencies [Abstract]
Contracted but not provided for	$ 615	$ 1,001	$ 507

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2019MOP (MOP$)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Concession and subconcession [Line Items]
Annual premium, fixed portion (patacas converted to USD at balance sheet date)	MOP$ 30000000	$ 4,000,000
Annual premium, variable portion, minimum (patacas converted to USD at balance sheet date)	MOP$ 45000000	$ 6,000,000
Percentage of gaming tax on gross revenue	35.00%	35.00%
Percentage contribution of revenue to utilities	4.00%	4.00%
Gaming Table Reserved [Member]
Concession and subconcession [Line Items]
Annual premium, variable portion, per unit (patacas converted to USD at balance sheet date)	MOP$ 300000	$ 37,399
Gaming Table Not Reserved [Member]
Concession and subconcession [Line Items]
Annual premium, variable portion, per unit (patacas converted to USD at balance sheet date)	150,000	18,700
Electrical Or Mechanical Gaming Machine [Member]
Concession and subconcession [Line Items]
Annual premium, variable portion, per unit (patacas converted to USD at balance sheet date)	MOP$ 1000	125
Not later than one year [member]
Concession and subconcession [Line Items]
Subconcession minimum future payments		42,000,000	$ 42,000,000
Later than one year and not later than two years [member]
Concession and subconcession [Line Items]
Subconcession minimum future payments		42,000,000	42,000,000
Later than two years and not later than three years [member]
Concession and subconcession [Line Items]
Subconcession minimum future payments		$ 21,000,000	42,000,000
Later than three years and not later than four years [member]
Concession and subconcession [Line Items]
Subconcession minimum future payments			$ 21,000,000

Company Balance Sheet (Details)

Company Balance Sheet (Details) - USD ($) $ in Millions	Jun. 30, 2020	Dec. 31, 2019	Jun. 30, 2019	Dec. 31, 2018		Jan. 01, 2018	Dec. 31, 2017	Dec. 31, 2016
Non-current assets
Other assets	$ 32	$ 34		$ 47	[1]
Trade and other receivables and prepayments, net	20	23		22	[1]
Total non-current assets	9,343	9,053		8,878	[1]
Current assets
Other assets	13	35		0	[1]
Trade and other receivables and prepayments, net	355	510		477	[1]
Cash and cash equivalents	1,592	2,471	$ 1,785	2,676	[1]		$ 1,239	$ 1,284
Total current assets	1,992	3,047		3,180	[1]
Total assets	11,335	12,100		12,058	[1]
EQUITY
Share capital	81	81		81
Reserves	2,648	4,365		4,328
Total equity	2,729	4,446	$ 3,456	4,409		$ 4,562	$ 4,538	$ 5,007
Non-current liabilities
Borrowings	7,073	5,608		5,562
Total non-current liabilities	7,215	5,756		5,706
Current liabilities
Total current liabilities	1,391	1,898		1,943
Total liabilities	8,606	7,654		7,649
Total equity and liabilities	11,335	12,100		12,058
Net current assets	601	1,149		1,237
Total assets less current liabilities	$ 9,944	10,202		10,115
Parent Company [Member]
Non-current assets
Interests in subsidiaries		1,129		1,951	[2]
Note receivable from a subsidiary		5,919		5,239	[2]
Other assets		0		15	[2]
Trade and other receivables and prepayments, net		0		39	[2]
Total non-current assets		7,048		7,244	[2]
Current assets
Other assets		35		0	[2]
Trade and other receivables and prepayments, net		96		64	[2]
Cash and cash equivalents		216		279	[2]
Total current assets		347		343	[2]
Total assets		7,395		7,587	[2]
EQUITY
Share capital		81		81	[2]
Reserves		1,738		1,954	[2]
Total equity		1,819		2,035	[2]
Non-current liabilities
Borrowings		5,461		5,427	[2]
Other payables		1		0	[2]
Total non-current liabilities		5,462		5,427	[2]
Current liabilities
Other payables		114		125	[2]
Total current liabilities		114		125	[2]
Total liabilities		5,576		5,552	[2]
Total equity and liabilities		7,395		7,587	[2]
Net current assets		233		218	[2]
Total assets less current liabilities		$ 7,281		$ 7,462	[2]

[1]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.
[2]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.

Company Balance Sheet Movement

Company Balance Sheet Movement of Reserves (Details) - USD ($) $ in Millions	6 Months Ended			12 Months Ended
	Jun. 30, 2020	Jun. 30, 2019		Dec. 31, 2019		Dec. 31, 2018		Dec. 31, 2017
Beginning balance	$ 4,446	$ 4,409		$ 4,409		$ 4,538		$ 5,007
(Loss) Profit for the period	(716)	1,067		2,033		1,875		1,603	[1]
Other comprehensive income (expense) for the period	15	4		16		(12)		(22)
Total comprehensive (expense) income	(701)	1,071		2,049		1,863		1,581
Exercise of share options	2	23		28		23		12
Conversion of equity awards to liability awards								(5)
Share-based compensation of the Company	7	7		14		14		12
Dividends to equity holders of the Company	(1,025)	(2,054)		(2,054)		(2,053)		(2,069)
Ending balance	2,729	3,456		4,446		4,409		4,538
Capital reserve
Beginning balance	87	87		87		87		87
Ending balance	87	87		87		87		87
Share premium
Beginning balance	1,491	1,457		1,457		1,428		1,411
Exercise of share options	2	23		28		23		12
Transfer to share premium upon exercise of share options	1	4		6		6		5
Ending balance	1,494	1,484		1,491		1,457		1,428
Share-based compensation reserves
Beginning balance	97	92		92		88		89
Conversion of equity awards to liability awards								(5)
Transfer to share premium upon exercise of share options	(1)	(4)		(6)		(6)		(5)
Forfeiture of share options	(3)	(1)		(3)		(4)		(3)
Share-based compensation of the Company	7	7		14		14		12
Ending balance	100	94		97		92		88
Currency translation reserve
Beginning balance	(12)	(28)		(28)		(16)		6
Other comprehensive income (expense) for the period	15	4		16		(12)		(22)
Total comprehensive (expense) income	15	4		16		(12)		(22)
Ending balance	3	(24)		(12)		(28)		(16)
Retained earnings
Beginning balance	2,696	2,714		2,714		2,864		3,327
(Loss) Profit for the period	(716)	1,067		2,033		1,875		1,603
Total comprehensive (expense) income	(716)	1,067		2,033		1,875		1,603
Forfeiture of share options	3	1		3		4		3
Dividends to equity holders of the Company	(1,025)	(2,054)		(2,054)		(2,053)		(2,069)
Ending balance	958	1,728		2,696		2,714		2,864
Parent Company [Member]
Beginning balance	1,819	2,035	[2]	2,035	[2]
Ending balance				1,819		2,035	[2]
Parent Company [Member] \| Reserves [Member]
Beginning balance	1,738	1,954		1,954		1,782		2,198
(Loss) Profit for the period				1,792		2,192		1,645
Other comprehensive income (expense) for the period				4		(4)		(11)
Total comprehensive (expense) income				1,796		2,188		1,634
Exercise of share options				28		23		12
Conversion of equity awards to liability awards								(5)
Transfer to share premium upon exercise of share options				0		0		0
Forfeiture of share options				0		0		0
Share-based compensation of the Company				14		14		12
Dividends to equity holders of the Company				(2,054)		(2,053)		(2,069)
Ending balance				1,738		1,954		1,782
Parent Company [Member] \| Capital reserve
Beginning balance	106	106		106		106		106
(Loss) Profit for the period				0		0		0
Other comprehensive income (expense) for the period				0		0		0
Total comprehensive (expense) income				0		0		0
Exercise of share options				0		0		0
Conversion of equity awards to liability awards								0
Transfer to share premium upon exercise of share options				0		0		0
Forfeiture of share options				0		0		0
Share-based compensation of the Company				0		0		0
Dividends to equity holders of the Company				0		0		0
Ending balance				106		106		106
Parent Company [Member] \| Share premium
Beginning balance	1,491	1,457		1,457		1,428		1,411
(Loss) Profit for the period				0		0		0
Other comprehensive income (expense) for the period				0		0		0
Total comprehensive (expense) income				0		0		0
Exercise of share options				28		23		12
Conversion of equity awards to liability awards								0
Transfer to share premium upon exercise of share options				6		6		5
Forfeiture of share options				0		0		0
Share-based compensation of the Company				0		0		0
Dividends to equity holders of the Company				0		0		0
Ending balance				1,491		1,457		1,428
Parent Company [Member] \| Share-based compensation reserves
Beginning balance	58	53		53		49		50
(Loss) Profit for the period				0		0		0
Other comprehensive income (expense) for the period				0		0		0
Total comprehensive (expense) income				0		0		0
Exercise of share options				0		0		0
Conversion of equity awards to liability awards								(5)
Transfer to share premium upon exercise of share options				(6)		(6)		(5)
Forfeiture of share options				(3)		(4)		(3)
Share-based compensation of the Company				14		14		12
Dividends to equity holders of the Company				0		0		0
Ending balance				58		53		49
Parent Company [Member] \| Currency translation reserve
Beginning balance	(14)	(18)		(18)		(14)		(3)
(Loss) Profit for the period				0		0		0
Other comprehensive income (expense) for the period				4		(4)		(11)
Total comprehensive (expense) income				4		(4)		(11)
Exercise of share options				0		0		0
Conversion of equity awards to liability awards								0
Transfer to share premium upon exercise of share options				0		0		0
Forfeiture of share options				0		0		0
Share-based compensation of the Company				0		0		0
Dividends to equity holders of the Company				0		0		0
Ending balance				(14)		(18)		(14)
Parent Company [Member] \| Retained earnings
Beginning balance	$ 97	$ 356		356		213		634
(Loss) Profit for the period				1,792		2,192		1,645
Other comprehensive income (expense) for the period				0		0		0
Total comprehensive (expense) income				1,792		2,192		1,645
Exercise of share options				0		0		0
Conversion of equity awards to liability awards								0
Transfer to share premium upon exercise of share options				0		0		0
Forfeiture of share options				3		4		3
Share-based compensation of the Company				0		0		0
Dividends to equity holders of the Company				(2,054)		(2,053)		(2,069)
Ending balance				$ 97		$ 356		$ 213

[1]	Note: Presentation for the year ended December 31, 2017 has been restated to reflect the adoption of IFRS 15 in 2018 as disclosed in Note 2.
[2]	Note: Certain reclassifications have been made to the year ended December 31, 2018 to conform to the presentation of the year ended December 31, 2019.

Disclosure of Interests in Subs

Disclosure of Interests in Subsidiaries (Details)

12 Months Ended

Dec. 31, 2019USD ($)

Dec. 31, 2018USD ($)

Dec. 31, 2017USD ($)

Jun. 30, 2020USD ($)

Dec. 31, 2019MOP (MOP$)

Dec. 31, 2019HKD ($)

Jun. 30, 2019USD ($)

Dec. 31, 2018MOP (MOP$)

Dec. 31, 2018HKD ($)

Dec. 31, 2017MOP (MOP$)

Dec. 31, 2017HKD ($)

Dec. 31, 2016USD ($)

Disclosure of subsidiaries [line items]

Share capital

$ 81,000,000

Ordinary shares [member]

Disclosure of subsidiaries [line items]

Share capital

$ 81,000,000

Venetian Venture Development Intermediate Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Venetian Venture Development Intermediate Limited

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Cayman Islands

Date of incorporation of subsidiary

Jun. 21,
2002

Description of nature of entity's operations and principal activities

Investment holding

Share capital

$ 1

Proportion of ownership interest in subsidiary

100.00%

SCL IP Holdings, LLC [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

SCL IP Holdings, LLC

Country of incorporation of subsidiary

United States

Principal place of business of subsidiary

United States

Date of incorporation of subsidiary

Sep. 29,
2009

Description of nature of entity's operations and principal activities

Holder of trademark licenses

Share capital

$ 527,802,937.56

$ 100

Proportion of ownership interest in subsidiary

100.00%

Cotai Ferry Company Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Cotai Ferry Company Limited

Country of incorporation of subsidiary

Macao

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Jul. 19,
2007

Description of nature of entity's operations and principal activities

High speed ferry transportation services

Share capital | MOP$

MOP$ 10000000

Proportion of ownership interest in subsidiary

100.00%

Cotai Strip Lot 2 Apart Hotel (Macau) Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Cotai Strip Lot 2 Apart Hotel (Macau) Limited

Country of incorporation of subsidiary

Macao

Principal place of business of subsidiary

Macao

Date of incorporation of subsidiary

Oct. 27,
2008

Description of nature of entity's operations and principal activities

Hotel apartments

Cotai Strip Lot 2 Apart Hotel (Macau) Limited [Member] | Ordinary shares [member]

Disclosure of subsidiaries [line items]

Share capital | MOP$

6,498,900

Proportion of ownership interest in subsidiary

100.00%

Cotai Strip Lot 2 Apart Hotel (Macau) Limited [Member] | Preference shares [member]

Disclosure of subsidiaries [line items]

Share capital | MOP$

722,100

Proportion of ownership interest in subsidiary

100.00%

Cotai Services (HK) Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Cotai Services (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Hong Kong

Date of incorporation of subsidiary

Jul. 11,
2007

Description of nature of entity's operations and principal activities

Business support services, marketing and operation of ferry business

Share capital

$ 749,025,708.72

$ 1

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 1 (HK) Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 1 (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Dec. 12,
2019

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 2 (HK) Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 2 (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Dec. 12,
2019

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 3 (HK) Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 3 (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Dec. 12,
2019

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 4 (HK) Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 4 (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Dec. 12,
2019

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 5 (HK) Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 5 (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Dec. 12,
2019

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 6 (HK) Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 6 (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Dec. 12,
2019

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 7 (HK) Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 7 (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Dec. 12,
2019

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 8 (HK) Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 8 (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Dec. 12,
2019

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 9 (HK) Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 9 (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Dec. 12,
2019

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 10 (HK) Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 10 (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Dec. 12,
2019

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 11 (HK) Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 11 (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Dec. 12,
2019

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 12 (HK) Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 12 (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Dec. 12,
2019

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 13 (HK) Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 13 (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Dec. 12,
2019

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 14 (HK) Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 14 (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Dec. 12,
2019

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 311 Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 311 Ltd.

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Aug. 14,
2007

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

$ 100

$ 1

Share premium

$ 6,423,536.85

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 312 Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 312 Ltd.

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Aug. 14,
2007

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

$ 100

$ 1

Share premium

$ 6,339,957.74

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 313 Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 313 Ltd.

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Aug. 14,
2007

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

$ 100

$ 1

Share premium

$ 6,312,405.81

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 314 Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 314 Ltd.

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Sep. 12,
2007

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

$ 100

$ 1

Share premium

$ 6,486,421.42

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 315 Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 315 Ltd.

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Sep. 12,
2007

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

$ 100

$ 1

Share premium

$ 6,332,468.30

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 316 Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 316 Ltd.

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Oct. 8,
2007

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

$ 100

$ 1

Share premium

$ 6,439,507.84

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 317 Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 317 Ltd.

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Oct. 8,
2007

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

$ 100

$ 1

Share premium

$ 6,526,794.49

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 318 Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 318 Ltd.

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Oct. 8,
2007

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

$ 100

$ 1

Share premium

$ 7,936,384.02

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 319 Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 319 Ltd.

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Oct. 8,
2007

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

$ 100

$ 1

Share premium

$ 7,838,910.17

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 320 Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 320 Ltd.

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Oct. 8,
2007

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

$ 100

$ 1

Share premium

$ 6,123,939.20

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 350 Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 350 Ltd.

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Jan. 21,
2008

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

$ 100

$ 1

Share premium

$ 7,173,446.06

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 351 Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 351 Ltd.

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Jan. 21,
2008

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

$ 100

$ 1

Share premium

$ 7,115,613.37

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 352 Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 352 Ltd.

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Jan. 21,
2008

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

$ 100

$ 1

Share premium

$ 7,292,634.59

Proportion of ownership interest in subsidiary

100.00%

CotaiJet 353 Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

CotaiJet 353 Ltd.

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Jan. 21,
2008

Description of nature of entity's operations and principal activities

[1]

Ferry leasing (Note (i))

Share capital

$ 100

$ 1

Share premium

$ 7,264,364.42

Proportion of ownership interest in subsidiary

100.00%

Cotaiwaterjet Sea Bridge 1 Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Cotaiwaterjet Sea Bridge 1 Ltd.

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Oct. 27,
2015

Description of nature of entity's operations and principal activities

[1]

Pontoon leasing (Note (i))

Share capital

$ 100

$ 1

Share premium

$ 24,365.38

Proportion of ownership interest in subsidiary

100.00%

Cotaiwaterjet Sea Bridge 2 Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Cotaiwaterjet Sea Bridge 2 Ltd.

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Oct. 27,
2015

Description of nature of entity's operations and principal activities

[1]

Pontoon leasing (Note (i))

Share capital

$ 100

$ 1

Share premium

$ 25,651.14

Proportion of ownership interest in subsidiary

100.00%

Cotaiwaterjet Sea Bridge 1 (HK) Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Cotaiwaterjet Sea Bridge 1 (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Dec. 12,
2019

Description of nature of entity's operations and principal activities

[1]

Pontoon leasing (Note (i))

Share capital

Proportion of ownership interest in subsidiary

100.00%

Cotaiwaterjet Sea Bridge 2 (HK) Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Cotaiwaterjet Sea Bridge 2 (HK) Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Macao and Hong Kong

Date of incorporation of subsidiary

Dec. 12,
2019

Description of nature of entity's operations and principal activities

[1]

Pontoon leasing (Note (i))

Share capital

Proportion of ownership interest in subsidiary

100.00%

Sands Cotai East Holdings Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Sands Cotai East Holdings Limited

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao

Date of incorporation of subsidiary

May 25,
2011

Description of nature of entity's operations and principal activities

Holder of hotel franchise agreement

Share capital

$ 1

Proportion of ownership interest in subsidiary

100.00%

Sands Cotai West Holdings Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Sands Cotai West Holdings Limited

Country of incorporation of subsidiary

Cayman Islands

Principal place of business of subsidiary

Macao

Date of incorporation of subsidiary

May 25,
2011

Description of nature of entity's operations and principal activities

Holder of hotel franchise agreement

Share capital

$ 1

Proportion of ownership interest in subsidiary

100.00%

Sands Resorts Travel Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Sands Resorts Travel Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Hong Kong

Date of incorporation of subsidiary

Feb. 29,
2016

Description of nature of entity's operations and principal activities

Travel and tourism agency services

Share capital

500,000

Proportion of ownership interest in subsidiary

100.00%

Sands Resorts Transportation 1 Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Sands Resorts Transportation 1 Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Hong Kong

Date of incorporation of subsidiary

Jan. 30,
2019

Description of nature of entity's operations and principal activities

Transportation services

Share capital

Proportion of ownership interest in subsidiary

100.00%

Sands Resorts Transportation 2 Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Sands Resorts Transportation 2 Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Hong Kong

Date of incorporation of subsidiary

Jan. 30,
2019

Description of nature of entity's operations and principal activities

Transportation services

Share capital

Proportion of ownership interest in subsidiary

100.00%

Sands Resorts Transportation 3 Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Sands Resorts Transportation 3 Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Hong Kong

Date of incorporation of subsidiary

Feb. 4,
2019

Description of nature of entity's operations and principal activities

Transportation services

Share capital

Proportion of ownership interest in subsidiary

100.00%

Sands Venetian Security Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Sands Venetian Security Limited

Country of incorporation of subsidiary

Macao

Principal place of business of subsidiary

Macao

Date of incorporation of subsidiary

Jun. 22,
2011

Description of nature of entity's operations and principal activities

Security services

Share capital | MOP$

1,000,000

Proportion of ownership interest in subsidiary

100.00%

Venetian Cotai Hotel Management Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Venetian Cotai Hotel Management Limited

Country of incorporation of subsidiary

Macao

Principal place of business of subsidiary

Macao

Date of incorporation of subsidiary

Mar. 12,
2008

Description of nature of entity's operations and principal activities

Human resources administration

Share capital | MOP$

500,000

Proportion of ownership interest in subsidiary

100.00%

Venetian Cotai Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Venetian Cotai Limited

Country of incorporation of subsidiary

Macao

Principal place of business of subsidiary

Macao

Date of incorporation of subsidiary

Nov. 11,
2004

Description of nature of entity's operations and principal activities

Hotels, restaurants, shopping mall, and conference and convention

Share capital | MOP$

200,000,000

Proportion of ownership interest in subsidiary

100.00%

Venetian Macau Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

[2]

Venetian Macau Limited (Note (ii))

Country of incorporation of subsidiary

Macao

Principal place of business of subsidiary

Macao

Date of incorporation of subsidiary

Jun. 21,
2002

Description of nature of entity's operations and principal activities

Gaming and other related activities

Share capital | MOP$

200,000,000

Proportion of ownership interest in subsidiary

100.00%

Venetian Orient Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Venetian Orient Limited

Country of incorporation of subsidiary

Macao

Principal place of business of subsidiary

Macao

Date of incorporation of subsidiary

Feb. 2,
2006

Description of nature of entity's operations and principal activities

Hotels, restaurants, shopping mall, and conference and convention

Share capital | MOP$

100,000

Proportion of ownership interest in subsidiary

100.00%

Venetian Retail Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Venetian Retail Limited

Country of incorporation of subsidiary

Macao

Principal place of business of subsidiary

Macao

Date of incorporation of subsidiary

Jun. 15,
2007

Description of nature of entity's operations and principal activities

Mall management

Share capital | MOP$

1,500,000

Proportion of ownership interest in subsidiary

100.00%

Venetian Travel Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Venetian Travel Limited

Country of incorporation of subsidiary

Macao

Principal place of business of subsidiary

Macao

Date of incorporation of subsidiary

Oct. 16,
2006

Description of nature of entity's operations and principal activities

Travel and tourism agency services

Share capital | MOP$

2,400,000

MOP$ 2400000

Proportion of ownership interest in subsidiary

100.00%

Venetian Transportation Services Limited [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

Venetian Transportation Services Limited

Country of incorporation of subsidiary

Macao

Principal place of business of subsidiary

Macao

Date of incorporation of subsidiary

Jan. 7,
2019

Description of nature of entity's operations and principal activities

Transportation services and other related activities

Share capital | MOP$

MOP$ 25000

Proportion of ownership interest in subsidiary

100.00%

V-HK Services Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

V-HK Services Limited

Country of incorporation of subsidiary

Hong Kong

Principal place of business of subsidiary

Hong Kong

Date of incorporation of subsidiary

Sep. 6,
2004

Description of nature of entity's operations and principal activities

Marketing and customer development services

Share capital

$ 1

Proportion of ownership interest in subsidiary

100.00%

VML US Finance LLC [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

[3]

VML US Finance LLC (Note (iii))

Country of incorporation of subsidiary

United States

Principal place of business of subsidiary

United States

Date of incorporation of subsidiary

Jan. 3,
2006

Description of nature of entity's operations and principal activities

Financing

Share capital

$ 0

Proportion of ownership interest in subsidiary

100.00%

Zhuhai Cotai Information Services Outsourcing Co., Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

[4]

Zhuhai Cotai Information Services Outsourcing Co., Ltd.(Note (iv))

Country of incorporation of subsidiary

China

Principal place of business of subsidiary

China

Date of incorporation of subsidiary

Sep. 30,
2010

Description of nature of entity's operations and principal activities

Outsourcing services, including information technology, accounting, hotel management and marketing

Share capital

$ 800,000

Proportion of ownership interest in subsidiary

100.00%

Zhuhai Cotai Logistics Hotel Services Co., Ltd. [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

[4]

Zhuhai Cotai Logistics Hotel Services Co., Ltd. (Note (iv))

Country of incorporation of subsidiary

China

Principal place of business of subsidiary

China

Date of incorporation of subsidiary

Sep. 27,
2007

Description of nature of entity's operations and principal activities

Procurement, marketing and administrative services

Share capital

$ 4,500,000

Proportion of ownership interest in subsidiary

100.00%

Zhuhai Hengqin Cotai Information Services Co., Ltd. [member]

Disclosure of subsidiaries [line items]

Name of subsidiary

[4]

Zhuhai Hengqin Cotai Information Services Co., Ltd. (Note (iv))

Country of incorporation of subsidiary

China

Principal place of business of subsidiary

China

Date of incorporation of subsidiary

Sep. 24,
2019

Description of nature of entity's operations and principal activities

Outsourcing services, including information technology, accounting, hotel management and marketing

Share capital

$ 2,000,000

Proportion of ownership interest in subsidiary

100.00%

[1]

Each of the Cayman Islands registered companies has transferred their ferry or pontoon and related assets, respectively, to each of the Hong Kong registered companies within the Group in December 2019 as a result of a Group reorganization. These Cayman Islands companies are dissolved on March 31, 2020.

[2]

10% of the company’s issued share capital is held through an usufruct agreement whereby VVDIL has the sole and exclusive benefit. Accordingly, the profits and losses and assets and liabilities of the company have been consolidated as to 100% thereof into the consolidated financial statements.

[3]

The company is dissolved on May 24, 2019.

[4]

These entities are wholly foreign owned enterprises established in China.

Uncategorized Items - scl-20201

Label	Element	Value
Leasehold interests in land [Member] \| IFRS 16 [Member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Right-of-use assets	ifrs-full_RightofuseAssets	$ 0
Investment property leasehold interests in land [Member] \| IFRS 16 [Member] \| Increase (decrease) due to changes in accounting policy required by IFRSs [member]
Right-of-use assets	ifrs-full_RightofuseAssets	$ 0