Sands China (SCHYF) F-4/A4 Apr 22Registration of securities (foreign) (amended)Financial data

Company Profile

Cover

Cover	12 Months Ended
Cover	Dec. 31, 2021
Cover [Abstract]
Document Type	F-4/A
Amendment Flag	true
Amendment Description	To include additional disclosures in response to an SEC comment letter received.
Entity Registrant Name	Sands China Ltd.
Entity Central Index Key	0001755281
Entity Emerging Growth Company	false
Entity Accounting Standard	IFRS

Consolidated Income Statements

Consolidated Income Statements $ in Millions	12 Months Ended
Consolidated Income Statements $ in Millions	Dec. 31, 2021USD ($)$ / shares	Dec. 31, 2020USD ($)$ / shares	Dec. 31, 2019USD ($)$ / shares
Profit or loss [abstract]
Net revenues	$ 2,874	$ 1,687	$ 8,808
Gaming tax	(1,017)	(625)	(3,421)
Employee benefit expenses	(1,049)	(1,050)	(1,292)
Depreciation and amortization	(733)	(684)	(706)
Inventories consumed	(34)	(23)	(97)
Other expenses, gains and losses	(578)	(544)	(1,017)
Operating profit/(loss)	(537)	(1,239)	2,275
Interest income	2	11	38
Finance costs, net of amounts capitalized	(373)	(279)	(280)
Loss on early retirement of debt	(137)	0	0
Profit/(loss) before income tax	(1,045)	(1,507)	2,033
Income tax expense	(3)	(16)	0
Profit/(loss) for the year attributable to equity holders of the Company	$ (1,048)	$ (1,523)	$ 2,033
Earnings/(loss) per share for profit/(loss) attributable to equity holders of the Company
Basic (in US$ per share) \| (per share)	$ (0.1295)	$ (0.1882)	$ 0.2514
Diluted (in US$ per share) \| (per share)	$ (0.1295)	$ (0.1882)	$ 0.2513

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of comprehensive income [abstract]
Profit (loss) for the period attributable to equity holders of the Company	$ (1,048)	$ (1,523)	$ 2,033
Item that will be reclassified subsequently to profit or loss:
Cash flow hedge fair value adjustment	(4)	0	0
Item that will not be reclassified subsequently to profit or loss:
Currency translation differences	(6)	16	16
Total comprehensive income/(expense) for the year attributable to equity holders of the Company	$ (1,058)	$ (1,507)	$ 2,049

Statement of financial position

Statement of financial position, current/non-current (Statement) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Non-current assets
Investment properties, net	$ 637	$ 543
Property and equipment, net	8,477	8,832
Intangible assets, net	38	41
Other assets, net	26	32
Other receivables and prepayments, net	24	18
Total non-current assets	9,202	9,466
Current assets
Inventories	15	15
Trade and other receivables and prepayments, net	183	190
Restricted cash and cash equivalents	16	16
Cash and cash equivalents	678	861
Total current assets	892	1,082
Total assets	10,094	10,548
EQUITY
Share capital	81	81
Reserves	807	1,848
Total equity	888	1,929
Non-current liabilities
Trade and other payables	112	105
Borrowings	7,946	7,044
Deferred income tax liabilities	54	56
Total non-current liabilities	8,112	7,205
Current liabilities
Trade and other payables	1,071	1,388
Current income tax liabilities	5	5
Borrowings	18	21
Total current liabilities	1,094	1,414
Total liabilities	9,206	8,619
Total equity and liabilities	10,094	10,548
Net current assets (liabilities)	(202)	(332)
Total assets less current liabilities	$ 9,000	$ 9,134

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	Hedge reserve	Retained earnings/ (accumulated losses)
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)
Cash flow hedge fair value adjustment	0
Ending balance at Dec. 31, 2019	4,446	81	87	1,491	6	97	(12)		2,696
(Loss) Profit for the period	(1,523)								(1,523)
Other comprehensive income (expense) for the period	16						16
Total comprehensive (expense) income	(1,507)						16		(1,523)
Exercise of share options	6			6
Transfer to share premium upon exercise of share options				1		(1)
Forfeiture of share options						(8)			8
Share-based compensation of the Company	9					9
Dividends to equity holders of the Company	(1,025)								(1,025)
Cash flow hedge fair value adjustment	0
Ending balance at Dec. 31, 2020	1,929	81	87	1,498	6	97	4		156
(Loss) Profit for the period	(1,048)								(1,048)
Other comprehensive income (expense) for the period	(6)						(6)
Total comprehensive (expense) income	(1,058)						(6)	$ (4)	(1,048)
Exercise of share options	12			12
Transfer to share premium upon exercise of share options				5		(5)
Forfeiture of share options						(2)			2
Share-based compensation of the Company	4					4
Cash flow hedge fair value adjustment	(4)							(4)
Share-based compensation charged by LVS	1					1
Ending balance at Dec. 31, 2021	$ 888	$ 81	$ 87	$ 1,515	$ 6	$ 95	$ (2)	$ (4)	$ (890)

Statement of cash flows, indire

Statement of cash flows, indirect method (Statement) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net cash generated from (used in) operating activities
Cash generated from/(used in) operations	$ 93	$ (811)	$ 2,818
Income tax paid	(5)	(5)	(6)
Net cash generated from (used in) operating activities	88	(816)	2,812
Cash flows from (used in) investing activities
Increase in restricted cash and cash equivalents	0	0	(2)
Purchases of property and equipment	(564)	(1,019)	(720)
Additions to investment properties	(60)	(8)	(16)
Purchases of intangible assets	(16)	(11)	(18)
Proceeds from disposal of property and equipment, investment properties and intangible assets	3	1	1
Interest received	3	13	40
Net cash used in investing activities	(634)	(1,024)	(715)
Cash flows from (used in) financing activities
Proceeds from exercise of share options	12	6	28
Proceeds from Senior Notes	1,946	1,496	0
Proceeds from bank loans	756	403	0
Repayment of 2023 Notes	(1,800)	0	0
Repayments of bank loans	0	(404)	0
Dividends paid	0	(1,030)	(2,051)
Repayments of lease liabilities	(12)	(11)	(13)
Payments of financing costs	(27)	(20)	(2)
Make-whole premium on early retirement of debt	(131)	0	0
Interest paid	(378)	(209)	(274)
Net cash (used in)/from financing activities	366	231	(2,312)
Net cash (used in)/from financing activities	(180)	(1,609)	(215)
Cash and cash equivalents at beginning of period	861	2,471	2,676
Effect of exchange rate on cash and cash equivalents	(3)	(1)	10
Cash and cash equivalents at end of period	$ 678	$ 861	$ 2,471

General information

General information	12 Months Ended
General information	Dec. 31, 2021
Disclosure of general information about financial statements [Abstract]
General information [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 destination properties and other ancillary services in Macao. The Group’s immediate holding company is Venetian Venture Development Intermediate II. Las Vegas Sands Corp. (“LVS”), a company incorporated in Nevada, U.S.A., indirectly holds 69.91% ownership interest in the Group as at December 31, 2021, 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 Act (as amended) of the Cayman Islands. The address of the Company’s registered office in the Cayman Islands is Intertrust Corporate Services (Cayman) Limited, One Nexus Way, Camana Bay, Grand Cayman, KY1-9005, Cayman Islands. The Company’s principal place of business in Hong Kong 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"), The Londoner Macao (formerly 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. During 2021, the Group achieved milestones in advancing several strategic objectives. The Group continued progress on key development projects for the conversion of Sands Cotai Central into The Londoner Macao, including the opening of The Londoner Macao Hotel in January 2021, featuring 594 London-themed suites; the opening of Londoner Court in September 2021, featuring approximately 370 luxury suites; and the expansion of the retail offerings has been rebranded as Shoppes at Londoner in 2021. The Group anticipates the Londoner Arena, expansion of Shoppes at Londoner and other amenities to be completed before the end of 2022. The Company’s shares were listed on the Main Board of the Stock Exchange on November 30, 2009. The consolidated financial statements are presented in millions of United States dollars (“US$ in millions”), unless otherwise stated. COVID-19 Pandemic Update In early January 2020, an outbreak of a respiratory illness caused by a novel coronavirus ("COVID-19") was identified and the virus spread rapidly across the world causing the World Health Organization to declare the outbreak of a pandemic on March 12, 2020 (the “COVID-19 Pandemic”). Governments around the world mandated actions to contain the spread of the virus that included stay-at-home orders, quarantines, capacity limits, closures of non-essential businesses, including entertainment activities, and significant restrictions on travel. The government actions varied based upon a number of factors, including the extent and severity of the COVID-19 Pandemic within their respective countries and jurisdictions. Visitation to Macao has remained substantially below pre-COVID-19 levels as a result of various government policies limiting or discouraging travel. As at the date of this report, other than people from mainland China who in general may enter Macao without quarantine subject to them holding the appropriate travel documents, a negative COVID-19 test result issued within a specified time period and a green health-code, there remains in place a complete ban on entry or a need to undergo various quarantine requirements depending on the person’s residency and recent travel history. The Group’s operations will continue to be impacted and subject to changes in the government policies of Macao, mainland China, Hong Kong and other jurisdictions in Asia addressing travel and public health measures associated with COVID-19. The Group’s operations have been significantly impacted by the reduced visitation to Macao. The Macao government announced total visitation from mainland China to Macao increased by 48.2% and decreased by 74.8% for 2021, as compared to 2020 and 2019, respectively. The Macao government also announced gross gaming revenue increased by 43.7% and decreased by 70.3% for 2021, as compared to 2020 and 2019, respectively. On March 3, 2021, the negative COVID-19 test requirement to enter casinos was removed; however, various other health safeguards implemented by the Macao government remained in place, including mandatory mask protection, limitation on the number of seats per table game, slot machine spacing and temperature checks. Management is currently unable to determine when the remaining measures will be eased or cease to be necessary. As at the date of this report, most businesses are allowed to remain open, subject to social distancing and health code checking requirements as designated by the Macao government. In January 2022, the Macao government commenced the roll out of a non-mandatory contact tracing QR code function at a range of businesses including government buildings, restaurants, hotels and other public venues. In support of the Macao government’s initiatives to fight the COVID-19 Pandemic, the Group provided one tower (approximately 2,100 hotel rooms) at the Sheraton Grand Macao to the Macao government to house individuals who returned to Macao for quarantine purposes. This tower has been utilized for quarantine purposes on several occasions during 2020 and 2021. From October 4, 2021 to October 30, 2021, an additional tower (approximately 1,800 hotel rooms) at the Sheraton Grand Macao was provided. The Group’s gaming operations remained open during the year ended December 31, 2021, compared to the same period in 2020 when the Group’s gaming operations were suspended from February 5, 2020 to February 19, 2020 due to a government mandate, except for gaming operations at The Londoner Macao, which resumed on February 27, 2020. Some of the Group’s hotel facilities were also closed during the casino suspension in response to the decrease in visitation and were gradually reopened from February 20, 2020, with the exception of the Conrad Macao at The Londoner Macao, which reopened on June 13, 2020. Operating hours at restaurants and other venues across the Group’s properties are continuously being adjusted in line with fluctuations in guest visitation. 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 Group’s ferry operations between Macao and Hong Kong remain suspended. The timing and manner in which the Group’s ferry operations will be able to resume are currently unknown. The disruptions arising from the COVID-19 Pandemic continued to have a significant adverse impact on the Group’s financial condition and operations during the year ended December 31, 2021. 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 Group’s consolidated results of operations, cash flows and financial condition may continue to be material in the future, but cannot be reasonably estimated at this time as it is unknown when the impact of the COVID-19 Pandemic will end, when or how quickly the current travel and operational restrictions will be modified or cease to be necessary and the resulting impact on the Group’s business and the willingness of tourism patrons to spend on travel and entertainment and business patrons to spend on MICE. While the Group’s properties were open and operating at reduced levels due to lower visitation and the implementation of required safety measures during the year ended December 31, 2021, the current economic and regulatory environment on a global basis and in Macao continues to evolve. The Group cannot predict the manner in which governments will react as the global and regional impact of the COVID-19 Pandemic changes over time, which could significantly alter the Group’s current operations. The Group has a strong balance sheet and sufficient liquidity in place, including total cash and cash equivalents balance, excluding restricted cash and cash equivalents, of US$678 million and access to US$1.75 billion of available borrowing capacity from the 2018 SCL Revolving Facility as at December 31, 2021. On March 15, 2022, the Company drew down US$19 million and HK$1.42 billion (approximately US$182 million at the exchange rate in effect on the date of this transaction) under the 2018 SCL Credit Facility for general corporate purposes, resulting in a remaining available borrowing capability of US$1.54 billion. Based on the current forecasts, the Group believes it is able to support continuing operations, complete the major construction projects that are underway and respond to the current COVID-19 Pandemic challenges for at least twelve months from the end of the reporting period. 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 for non-essential items. Macao subconcession Gaming in Macao is administered by the government through concession agreements awarded to three different Concessionaires and three Subconcessionaires, of which Venetian Macau Limited (“VML”, a subsidiary of Sands China Ltd.) is one. These concession agreements expire on June 26, 2022. If VML’s Subconcession is not extended or renewed, VML may be prohibited from conducting gaming operations in Macao, and VML could cease to generate revenues from the gaming operations when the Subconcession Contract expires on June 26, 2022. In addition, all of VML’s casino premises and gaming-related equipment could be automatically transferred to the Macao government without any compensation to VML. On January 18, 2022 the Macao Legislative Assembly published a draft bill entitled Amendment to Law No. 16/2001 to amend Macao’s gaming law (the “Gaming Law”). Certain changes to the Gaming Law set out in the draft bill include a reduction in the term of future gaming concessions to ten (10) years; authorization of up to six (6) gaming concession contracts; an increase in the minimum capital contribution of concessionaires to 5 billion patacas (approximately US$622 million at exchange rates in effect on December 31, 2021); an increase in the percentage of the share capital of the concessionaire that must be held by the local managing director to 15%; a requirement that casinos be located in real estate owned by the concessionaire; and a prohibition of revenue sharing arrangements between gaming promoters and concessionaires. On March 3, 2022, the Macao government announced its intention to extend the term of Macao's six concession and subconcession contracts from June 26, 2022 until December 31, 2022 in order to ensure sufficient time to complete the amendment to the Gaming Law and conduct a public tender for the awarding of new gaming concessions. The Macao government invited VML to submit a formal request for an extension along with a commitment to pay the Macao government up to MOP47 million (approximately US$6 million at exchange rates in effect on December 31, 2021) and provide a bank guarantee to secure the fulfilment of VML's payment obligations towards its employees should VML be unsuccessful in tendering for a new concession contract after its Subconcession expires. VML submitted its request for an extension on March 14, 2022. The extension of VML's Subconcession is subject to approval by the Macao government as well as entering into a Subconcession amendment contract with Galaxy Casino, S.A. ("Galaxy"). The Company is actively monitoring developments with respect to the Macao government’s Gaming Law amendment and concession renewal process and continues to believe it will be successful in extending the term of its Subconcession and/or obtaining a new gaming concession when its current Subconcession expires; however, it is possible the Macao government could further change or interpret the associated gaming laws in a manner that could negatively impact the Group. Under the Senior Notes Indentures (as defined below), upon the occurrence of any event resulting from any change in the Gaming Law (as defined in the indentures) or any action by the gaming authority after which none of the Company or any of its subsidiaries own or manage casino or gaming areas or operate casino games of fortune and chance in Macao in substantially the same manner as they were owning or managing casino or gaming areas or operating casino games as at the issue date of the Senior Notes, for a period of 30 consecutive days or more, and such event has a material adverse effect on the financial condition, business, properties or results of operations of SCL and its subsidiaries, taken as a whole, each holder of the Senior Notes would have the right to require the Company to repurchase all or any part of such holder’s Senior Notes at par, plus any accrued and unpaid interest (the “Investor Put Option”). Additionally, under the 2018 SCL Credit Facility, the events that trigger an Investor Put Option under the Senior Notes (as described above) would be an event of default, which may result in commitments being immediately cancelled, in whole or in part, and the related outstanding balances and accrued interest, if any, becoming immediately due and payable. The Subconcession not being extended or renewed and the potential impact if holders of the notes and the agent have the ability to, and make the election to, accelerate the repayment of the Company’s debt would have a material adverse effect on the Group’s business, financial condition, results of operations and cash flows. The Company intends to follow the process for a concession renewal once the process and requirements are announced by the Macao government.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2021
Disclosure of significant accounting policies [Abstract]
Summary of Significant Accounting Policies	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 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 awards and derivative financial instruments that are measured at fair value. (b) Changes in accounting policies and disclosures During the years ended December 31, 2019, 2020 and 2021, there have been a number of new standards and amendments to standards that have come into effect, which the Group has adopted at their respective dates. Details of the adoption of the material new standard are set out below. 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. 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. 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” and lease liabilities are presented within “borrowings.” Right-of-use assets that meet the definition of “investment property” are presented within “investment properties.” 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 amendments to standards that have been issued, but are not effective for the year ended December 31, 2021. The Group has commenced the assessment of the impact of the new or amendments to standards to the Group, but is not yet in a position to state whether their adoption would have a significant impact on the results of operations and financial position of the Group. (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. Subsidiaries are fully consolidated from the date on which control is transferred to the Group and are deconsolidated from the date that control ceases. 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. All intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between the members of the Group are eliminated on consolidation. The particulars of the Group’s principal subsidiaries as at December 31, 2019, 2020 and 2021 are set out in Note 29. (d) Foreign currency translation 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. Companies within the Group that have a functional currency different from the presentation currency translate their results of operations and financial position into the presentation currency based on the following: • Assets and liabilities are translated at the closing rate at balance sheet date; • Income and expenses are translated at average exchange rates during the year; and • Translation adjustments arising from this process are recognized in other comprehensive income/(expense) (currency translation differences) and will not be reclassified subsequently to profit or loss. Gains or losses from foreign currency remeasurements that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in “other expenses, gains and losses.” (e) Investment properties Investment properties, principally comprising buildings and building improvements relating to mall operations, 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. (f) Property and equipment Property and equipment, except construction-in-progress, are stated at historical cost less accumulated depreciation and accumulated impairment losses, if any. Leasehold interests in land are classified as leases and commence amortization from the time when the land interest becomes available for its intended use. Depreciation and amortization are provided on a straight-line basis over the estimated useful lives of the assets, 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 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, and are periodically reviewed. 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 requiring a change in the estimated useful lives of such assets. Maintenance and repairs that neither materially add to the value of the asset nor appreciably prolong its life are charged to expense as incurred. Gains or losses on disposition of property and equipment are included in the consolidated income statement. 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 residual values and useful lives of the assets are reviewed, and adjusted as appropriate at each balance sheet date. 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. (g) 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 on a straight-line basis over their estimated useful lives of 4 years. (h) 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 (cash generating units or “CGU”). (i) Financial assets Classification and subsequent measurement of financial assets Financial assets that meet the following conditions are subsequently measured at amortized cost: a. the financial asset is held within a business model whose objective is to collect contractual cash flows; and b. 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: a. the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling; and b. 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. The Group’s financial assets primarily consist of cash and cash equivalents, restricted cash and cash equivalents, trade and other receivables and derivative financial instruments. 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. Impairment of financial assets The Group recognizes a loss allowance for expected credit losses (“ECL”) on trade and other receivables which are subject to impairment under IFRS 9 Financial Instruments . 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; or 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. 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 and 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 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 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. (j) 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. (k) 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. (l) Financial liabilities The Group’s financial liabilities consists of primarily borrowings and trade and other payables, are initially measured at fair value and subsequently measured at amortized cost, using the effective interest method. The Group’s financial liabilities also may include derivative financial instruments (if any) which are measured at fair value. Derecognition/substantial modification of financial liabilities The Group derecognizes financial liabilities when, and only when, the Group’s obligations are discharged, cancelled 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 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. (m) Trade payables Trade payables are obligations to pay for goods or services acquired in the ordinary course of business from suppliers. Trade payables 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. (n) 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. Financing costs incurred for the construction of any qualifying asset which takes a substantial period of time to get ready for its intended use, 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. 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. (o) Current and deferred income tax and gaming tax 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. 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. (p) 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 fund management entities and are defined contribution plans. The Group has no further payment obligations once the contributions have been paid to the Schemes managed by fund management entities. 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. (ii) Share-based compensation Equity-settled share-based payment transactions Share-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized over the employee's requisite service period (generally the vesting period of the equity grant). When the options of the 2009 Equity Award Plan and 2019 Equity Award Plan are exercised, the Company issues new shares. 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. The Group recognizes the impact of revisions to the original estimates, if any, in the consolidated income statement, with a corresponding adjustment to equity. Share-based compensation expense arising from the granting of share options and restricted share units 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. 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) 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. Unused compensation leave earned by employee is accrued. (iv) 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. (v) 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. (q) 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. (r) 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 gaming promoters 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. 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. Cancellation fees for convention contracts are recognized upon cancellation 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. (s) Pre-opening expenses Pre-opening expenses represent personnel and other costs incurred prior to the opening of new properties and are expensed as incurred. (t) Leases/right-of-use As the lessee for leases The Group leases various land, real estate, vehicles, and equipment. The Group determines if a contract i

Critical Accounting Estimates a

Critical Accounting Estimates and Judgments	12 Months Ended
Critical Accounting Estimates and Judgments	Dec. 31, 2021
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 prepared 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) Provision of expected credit losses for casino 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, which include the impact of the COVID-19 Pandemic, 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 losses 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. During the year ended December 31, 2021 and 2020, there continued to be a delay in payments on casino receivables due to the inability of patrons to travel to the Group's properties or to accomplish financial transactions due to the travel restrictions caused by the COVID-19 Pandemic. The collection of casino receivables has also been impacted by liquidity issues faced by certain patrons also stemming from the COVID-19 Pandemic. The Group has increased the provision for expected credit losses accordingly to account for the expected credit losses due to the COVID-19 Pandemic. The Group continues to closely monitor any delays in payments due to the COVID-19 Pandemic and will increase the provision accordingly depending on the facts and circumstances. Although the Group believes the provision on the casino receivables is adequate as at December 31, 2021 and 2020, it is possible the provisions could increase if the Group experiences further delays on payments from patrons. 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. (b) Classification of Senior Notes and bank borrowings The Group follows IAS 1 Presentation of Financial Statements to determine the classification of Senior Notes and outstanding balance under the 2018 SCL Credit Facility, which requires significant judgment and an increased extent of effort, as this classification is dependent on whether the Group has the unconditional right to defer settlement of the liabilities for a 12-month period from the balance sheet date. The Senior Notes and outstanding balance under the 2018 SCL Credit Facility were classified as non-current liabilities on the basis that the Investor Put Option is considered to be a future uncertain event which had not been triggered and the events of default under the 2018 SCL Credit Facility had not been breached as at December 31, 2021. (c) 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. The Group continues to believe it will be successful in extending the term of its Subconcession and/or obtaining a new gaming concession when its current Subconcession expires. Therefore, the useful lives of investment properties and property and equipment has taken into consideration of such factor. (d) 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, macro-economic factors, regulatory environments, 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-Macau 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. 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. During the year ended December 31, 2020, due to the substantial reduction in the cash flows generated from the Group's operating properties and the ongoing travel restrictions due to the COVID-19 Pandemic, the Group determined a triggering event occurred in 2020 and an impairment assessment was warranted for the CGUs within the Group. Fixed assets in the operating properties of the Group were tested for recoverability as at December 31, 2020, resulting in no impairment as the estimated discounted future cash flows exceeded their carrying values. During the year ended December 31, 2021, the Group’s cash flow generation continued to be impacted by the COVID-19 Pandemic. As such, the Group performed an impairment assessment and no impairment was resulted in 2021. The Group has made reasonable estimates and judgements in performing the analysis in light of the uncertainties surrounding the COVID-19 Pandemic; however, should the effects of the COVID-19 persist for a prolonged duration and projected operating results further decline in future periods, the Group could be required to recognize an impairment loss. (e) 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.

Segment Information

Segment Information	12 Months Ended
Segment Information	Dec. 31, 2021
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, The Londoner Macao, 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 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 income statement and consolidated balance sheet. The Venetian Macao, The Londoner Macao, 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 transportation services. Revenue disaggregated by type of revenue and property is as follows: Casino Rooms Mall (ii),(iii) Food and beverage Convention, ferry, retail and other Net revenues (US$ in millions) Year ended December 31, 2019 The Venetian Macao $ 2,875 $ 222 $ 254 $ 73 $ 86 $ 3,510 The Londoner Macao 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 Year ended December 31, 2020 The Venetian Macao $ 531 $ 46 $ 126 $ 14 $ 21 $ 738 The Londoner Macao 192 42 38 17 8 297 The Parisian Macao 180 33 27 14 5 259 The Plaza Macao 159 17 79 9 1 265 Sands Macao 107 6 1 5 1 120 Ferry and other operations — — — — 21 21 Inter-segment revenues (i) — — (2) — (11) (13) $ 1,169 $ 144 $ 269 $ 59 $ 46 $ 1,687 Year ended December 31, 2021 The Venetian Macao $ 944 $ 77 $ 195 $ 24 $ 16 $ 1,256 The Londoner Macao 396 90 56 30 16 588 The Parisian Macao 244 54 39 17 3 357 The Plaza Macao 298 45 184 17 2 546 Sands Macao 105 10 1 5 1 122 Ferry and other operations — — — — 20 20 Inter-segment revenues (i) — — (2) — (13) (15) $ 1,987 $ 276 $ 473 $ 93 $ 45 $ 2,874 (i) Inter-segment revenues are charged at prevailing market rates. (ii) Of this amount, US$456 million and US$75 million for the year ended December 31, 2019, US$199 million and US$70 million for the year ended December 31, 2020, and US$410 million and US$63 million for the year ended December 31, 2021 were 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 and all other revenues are recognized in accordance with IFRS 15 Revenue from contracts with customers . (iii) For the years ended December 31, 2020 and 2021, rent concessions of US$215 million and US$41 million, respectively, were provided to tenants as a result of the COVID-19 Pandemic and the impact on mall operations. The following is a reconciliation of adjusted property EBITDA to profit/(loss) for the year attributable to equity holders of the Company: Year ended December 31, 2019 2020 2021 Notes (US$ in millions) Adjusted property EBITDA (Unaudited) (i) The Venetian Macao $ 1,407 $ (53) $ 297 The Londoner Macao 726 (184) (84) The Parisian Macao 544 (131) (17) The Plaza Macao 345 33 219 Sands Macao 175 (76) (69) Ferry and other operations (4) (17) (5) Total Adjusted property EBITDA 3,193 (428) 341 Share-based compensation, net of amount capitalized (ii) (14) (15) (10) Corporate expense (iii) 4(a) (129) (45) (68) Pre-opening expense 4(b) (23) (11) (11) Depreciation and amortization (706) (684) (733) Net foreign exchange gains/(losses) 6 35 17 (38) Impairment loss on property and equipment 3(d) (65) — — Fair value gain on derivative financial instruments — — 1 Loss on disposal of property and equipment, investment properties and intangible assets 6 (16) (73) (19) Operating profit/(loss) 2,275 (1,239) (537) Interest income 38 11 2 Finance costs, net of amounts capitalized (280) (279) (373) Loss on early retirement of debt — — (137) Profit/(loss) before income tax 2,033 (1,507) (1,045) Income tax expense — (16) (3) Profit/(loss) for the year attributable to equity holders of the Company $ 2,033 $ (1,523) $ (1,048) (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 comprised of US$13 million, US$9 million and US$5 million equity-settled share-based payment expense, net of amounts capitalized and US$1 million, US$6 million and US$5 million cash-settled share-based payment expense, net of amounts capitalized for the years ended December 31, 2019, 2020 and 2021, respectively. (iii) The share-based payment expense for exclusion in the above corporate expense was negligible for the year ended December 31, 2019. The share-based payment expenses excluded for the years ended December 31, 2020, and 2021 were US$2 million and US$1 million, respectively, (a) Corporate expense Year ended December 31, 2019 2020 2021 Note (US$ in millions) Royalty fees 25(a)(v) $ 110 $ 22 $ 42 Management fees 5 4 4 Employee benefit expenses 7 10 11 Other support services 4 3 4 Other expenses 3 6 7 $ 129 $ 45 $ 68 (b) Pre-opening expense Year ended December 31, 2019 2020 2021 (US$ in millions) Employee benefit expenses $ 9 $ 4 $ 5 Advertising and promotions 9 2 2 Contract labor and services 3 2 1 Utilities and operating supplies — 2 1 Other support services 1 — — Other expenses 1 1 2 $ 23 $ 11 $ 11 Year ended December 31, 2019 2020 2021 (US$ in millions) Depreciation and amortization The Venetian Macao $ 159 $ 181 $ 191 The Londoner Macao 299 230 273 The Parisian Macao 161 163 145 The Plaza Macao 40 71 84 Sands Macao 27 27 24 Ferry and other operations 20 12 16 $ 706 $ 684 $ 733 Year ended December 31, 2019 2020 2021 (US$ in millions) Capital expenditures The Venetian Macao $ 131 $ 140 $ 71 The Londoner Macao 276 721 538 The Parisian Macao 32 11 4 The Plaza Macao 296 156 19 Sands Macao 16 8 7 Ferry and other operations 3 2 1 $ 754 $ 1,038 $ 640 December 31, 2020 2021 (US$ in millions) Total assets The Venetian Macao $ 2,438 $ 2,079 The Londoner Macao 4,324 4,519 The Parisian Macao 2,138 1,981 The Plaza Macao 1,219 1,161 Sands Macao 319 252 Ferry and other operations 110 102 $ 10,548 $ 10,094 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, 2021
Disclosure of employee benefits [Abstract]
Employee Benefit Expenses (Including Directors' Emoluments)	EMPLOYEE BENEFIT EXPENSES (INCLUDING DIRECTORS’ EMOLUMENTS) Year ended December 31, 2019 2020 2021 (US$ in millions) Wages, salaries, bonus and termination costs $ 1,145 $ 919 $ 930 Staff meals 57 46 45 Pension costs — defined contribution plan 40 35 36 Share-based compensation, net of amount capitalized (i) 14 15 10 Other employee benefit expenses 36 35 28 $ 1,292 $ 1,050 $ 1,049 (i) Share-based compensation of US$1 million, US$1 million and less than US$1 million was capitalized during the years ended December 31, 2019, 2020 and 2021, respectively. For further information related to the Company’s equity award plan and LVS’ equity award plan, see Note 26 to the consolidated financial statements. (a) Pension costs — defined contribution plan Contributions totaling US$6 million and US$6 million remained payable to the provident fund as at December 31, 2020 and 2021, respectively. Forfeited contributions totaling US$4 million and US$3 million were utilized during the years ended December 31, 2020 and 2021, leaving US$1 million and US$1 million available at years ended December 31, 2020 and 2021, respectively, to reduce future contributions. (b) Directors’ emoluments Fees Salaries and other allowances Discretionary bonuses (i) Pension costs Estimated monetary value of other benefits (ii) Total (US$ in thousands) Year ended December 31, 2019 Executive Directors Sheldon Gary Adelson (iii) $ — $ — $ — $ — $ — $ — Wong Ying Wai — 2,350 1,502 117 618 4,587 Non-Executive Directors Robert Glen Goldstein (iv) — — — — — — 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 Fees Salaries and other allowances Discretionary bonuses (i) Pension costs Estimated monetary value of other benefits (ii) Total (US$ in thousands) Year ended December 31, 2020 Executive Directors Sheldon Gary Adelson (iii) $ — $ — $ — $ — $ — $ — Wong Ying Wai — 2,724 — 136 2,832 5,692 Non-Executive Directors Robert Glen Goldstein (iv) — — — — — — Charles Daniel Forman 200 — — — — 200 Independent Non-Executive Directors Chiang Yun 200 — — — — 200 Victor Patrick Hoog Antink 230 — — — — 230 Steven Zygmunt Strasser 230 — — — — 230 Kenneth Patrick Chung 200 — — — — 200 $ 1,060 $ 2,724 $ — $ 136 $ 2,832 $ 6,752 Fees Salaries and other allowances Discretionary bonuses (i) Pension costs Estimated monetary value of other benefits (ii) Total (US$ in thousands) Year ended December 31, 2021 Executive Directors Sheldon Gary Adelson (iii) $ — $ — $ — $ — $ — $ — Robert Glen Goldstein (iv) — — — — — — Wong Ying Wai — 3,000 — 150 1,020 4,170 Chum Kwan Lock, Grant (v) — 2,732 — 87 1,163 3,982 Non-Executive Director Charles Daniel Forman 200 — — — — 200 Independent Non-Executive Directors Chiang Yun 221 — — — — 221 Victor Patrick Hoog Antink 230 — — — — 230 Steven Zygmunt Strasser 230 — — — — 230 Kenneth Patrick Chung 200 — — — — 200 $ 1,081 $ 5,732 $ — $ 237 $ 2,183 $ 9,233 (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 options and restricted share units under the Equity Award Plan, accommodation, meals, home visit travel costs and medical insurance. The value of share options and restricted share units granted to the Directors represents the amount recognized as an expense during the year in accordance with IFRS 2 Share-based payment . (iii) Sheldon Gary Adelson took a medical leave of absence from his positions as the Chairman, Chief Executive Officer and the Chairman of the Nomination Committee of the Company and was re-designated as a Non-Executive Director of the Company, in each case, with effect from January 7, 2021. Mr. Adelson passed away in the United States on January 11, 2021. (iv) Robert Glen Goldstein was appointed as the Acting Chairman, Acting Chief Executive Officer, the Acting Chairman of the Nomination Committee, and was re-designated as an Executive Director of the Company, in each case, with effect from January 7, 2021. Subsequently he was appointed as the Chairman of the Board, the Chief Executive Officer and the Chairman of the Nomination Committee of the Company, in each case, with effect from January 27, 2021. (v) Chum Kwan Lock, Grant was appointed as the Executive Director of the Company with effect from January 7, 2021. 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$4 million, US$1 million and US$1 million was charged by LVS to the Group in respect of such management and administrative services of Robert Glen Goldstein provided to the Group for each of the years ended December 31, 2019, 2020 and 2021. No emoluments were paid to any Directors as an inducement to join or upon joining the Group or as compensation for loss of office for the three years ended December 31, 2021. With the exception of the continuing connected transactions disclosed in the Company's annual report for the years ended 2019, 2020 and 2021 filed with The Hong Kong Stock Exchange, none of the Directors has any material interests in transactions, arrangements or contracts entered into by the Company or the LVS Group. None of the Directors waived or has agreed to waive any emoluments for the three years ended December 31, 2021. (c) Five highest paid individuals The five individuals whose emoluments were the highest in the Group included one Director for each of the years ended December 31, 2019 and 2020, and two Directors for the year ended December 31, 2021, whose emoluments were reflected in the analysis presented above. The emoluments of the remaining four individuals for the years ended December 31, 2019 and 2020, and the remaining three individuals for the year ended December 31, 2021, were as follows: Year ended December 31, 2019 2020 2021 (US$ in thousands) Basic salaries, allowances and benefits in kind $ 4,720 $ 6,530 $ 4,874 Discretionary bonus 3,858 — — Share-based compensation (i) 781 2,846 1,415 Pension costs 219 206 132 $ 9,578 $ 9,582 $ 6,421 (i) The value of share options and restricted share units granted to the individuals represents the amount recognized as an expense during the year in accordance with IFRS 2 Share-based payment . The emoluments of the above mentioned individuals fall within the following bands: Year ended December 31, 2019 2020 2021 Range in HK$ Range in US$ equivalent (i) (Number of individuals) 10,500,001 – 11,000,000 1,346,000 – 1,410,000 — 1 — 13,500,001 – 14,000,000 1,731,000 – 1,795,000 — 1 — 15,500,001 – 16,000,000 1,987,000 – 2,051,000 — — 1 16,000,001 – 16,500,000 2,051,000 – 2,116,000 2 — 1 17,500,001 – 18,000,000 2,244,000 – 2,308,000 1 1 — 18,000,001 – 18,500,000 2,308,000 – 2,372,000 — — 1 24,500,001 – 25,000,000 3,141,000 – 3,205,000 1 — — 32,000,001 – 32,500,000 4,103,000 – 4,167,000 — 1 — 4 4 3 (i) The translation of HK$ amounts into US$ amounts has been made at the exchange rate on December 31, 2021 of US$1.00 to HK$7.7994 for the purposes of illustration only. 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 three years ended December 31, 2021.

Other Expenses, Gains and Losse

Other Expenses, Gains and Losses	12 Months Ended
Other Expenses, Gains and Losses	Dec. 31, 2021
Analysis of income and expense [abstract]
Other expenses, gains and losses	OTHER EXPENSES, GAINS AND LOSSES Year ended December 31, 2019 2020 2021 Notes (US$ in millions) Utilities and operating supplies $ 195 $ 116 $ 144 Contract labor and services 152 65 70 Repairs and maintenance 85 65 64 Royalty fees 25(a)(v) 113 22 43 Advertising and promotions 129 27 42 Management fees (i) 47 16 19 Provision for expected credit losses, net 24 52 3 Auditor's remuneration 2 2 2 Lease payments exempted from recognition and variable lease payments 13(c) 8 3 1 Net foreign exchange (gains)/losses (35) (17) 38 Loss on disposal of property and equipment, investment properties and intangible assets (ii) 16 73 19 Impairment loss on property and equipment (iii) 3(d) 65 — — Fair value gain on derivative financial instruments 22 — — (1) Other support services 101 58 62 Other operating expenses 115 62 72 $ 1,017 $ 544 $ 578 (i) Total management fees for the years ended December 31, 2019, 2020 and 2021 included US$24 million, US$3 million and US$3 million charged by third parties and US$23 million, US$13 million and US$16 million charged by related parties, net of amounts capitalized, respectively. Refer to Note 25(a)(ii) for further information. (ii) Loss on disposal of property and equipment, investment properties and intangible assets for the years ended December 31, 2020 and 2021 included demolition cost of US$34 million and US$11 million, respectively, primarily related to The Londoner Macao project. (iii) 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(d).

Finance Costs, Net of Amounts C

Finance Costs, Net of Amounts Capitalized	12 Months Ended
Finance Costs, Net of Amounts Capitalized	Dec. 31, 2021
Disclosure of interest expense [Abstract]
Finance Costs, Net of Amounts Capitalized	FINANCE COSTS, NET OF AMOUNTS CAPITALIZED Year ended December 31, 2019 2020 2021 (US$ in millions) Interest costs Senior Notes $ 253 $ 260 $ 331 Bank borrowings — 2 12 Lease liabilities 8 8 8 Amortization of deferred financing costs 15 17 23 Standby fee and other financing costs 13 13 13 289 300 387 Less: interest capitalized (9) (21) (14) $ 280 $ 279 $ 373 For the years ended December 31, 2019, 2020 and 2021, a capitalization rate of 4.4% to 5.3%, 3.2% to 5.1% and 4.5% to 5.1%, respectively, was used, representing the effective finance costs of the loans to finance the assets under construction.

Income Tax Benefit)_Expense

Income Tax Benefit)/Expense	12 Months Ended
Income Tax Benefit)/Expense	Dec. 31, 2021
Major components of tax expense (income) [abstract]
Income Tax Benefit)/Expense	INCOME TAX EXPENSE Year ended December 31, 2019 2020 2021 (US$ in millions) Current income tax Lump sum in lieu of Macao complementary tax on dividends $ 5 $ 5 $ 5 Deferred income tax (benefit)/expense (5) 11 (2) $ — $ 16 $ 3 Deferred income tax expense was US$11 million for the year ended December 31, 2020, compared to deferred income tax benefit of US$5 million for the year ended December 31, 2019. The deferred income tax expense in 2020 was primarily due to the reversal of deferred tax assets related to accelerated book depreciation of fixed assets disposed in 2020 not deductible for tax purposes while the deferred income tax benefit in 2019 was primarily due to the reversal of deferred tax liabilities related to accelerated tax depreciation allowance. Deferred income tax benefit was US$2 million for the year ended December 31, 2021, compared to deferred income tax expense of US$11 million for the year ended December 31, 2020. The deferred income tax benefit in 2021 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 three years ended December 31, 2021, 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%. Additionally, for the years ended December 31, 2019 and 2020, a special complementary tax incentive was provided to reduce complementary tax payable by a maximum of MOP300,000 (equivalent to US$37,500). 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 regarding Macao complementary tax on its gaming activities effective from the tax year 2019 through June 26, 2022, the date VML’s Subconcession Contract expires. After the extension of VML’s Subconcession Contract to December 31, 2022 is approved by the Macao government, VML will submit an application for extension of the tax exemption correspondingly to December 31, 2022. There is no assurance that this tax arrangement will be extended beyond its expiration date. Regarding the other subsidiaries, during the three years ended December 31, 2021, 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 In April 2019, VML entered into a renewed Shareholder Dividend Tax Agreement with the Macao government, effective from the tax year 2019 through June 26, 2022, to correspond to the Macao complementary tax exemption on its gaming activities (see also Note 8(a)). The agreement provides for payments in lieu of Macao complementary tax otherwise due by VML’s shareholders on dividend distributions to them from gaming profits; namely an annual payment of MOP38 million (equivalent to US$5 million) for 2019, 2020 and 2021, each payment to be made on or before January 31 of the following year, and a payment of MOP18 million (equivalent to US$2 million) for the period between January 1, 2022 through June 26, 2022, to be paid on or before July 26, 2022. After the extension of the tax exemption regarding Macao complementary tax on its gaming activities to December 31, 2022 is approved by the Macao government (see also Note 8(a)), VML will submit an application for extension of the agreement correspondingly to December 31, 2022. There is no assurance that this tax arrangement will be extended beyond its expiration date. (c) Hong Kong profits tax The Company’s subsidiaries that carry on business in Hong Kong are subject to the Hong Kong profits tax at the maximum rate of 16.5% for the three years ended December 31, 2021. (d) Reconciliation between income tax expense and accounting profit/(loss) at applicable tax rates The tax on the Group’s profit/(loss) before income tax differs from the theoretical amount that would arise using the domestic tax rates applicable to the consolidated entities in the respective jurisdictions as follows: Year ended December 31, 2019 2020 2021 (US$ in millions) Profit/(loss) before income tax $ 2,033 $ (1,507) $ (1,045) Tax calculated at domestic rates applicable in the respective jurisdictions 261 (174) (121) Tax effects of : Income not subject to tax (i) (966) (247) (365) Expenses not deductible for tax purposes (i), (ii) 603 271 332 Amortization of pre-opening expenses previously not recognized (1) (2) (2) Origination and reversal of temporary differences, net 4 5 — Tax losses for which no deferred income tax assets were recognized 95 158 154 Lump sum in lieu of Macao complementary tax on dividends 5 5 5 Other (1) — — Income tax expense $ — $ 16 $ 3 (i) During the three years ended December 31, 2021, VML was exempt from Macao complementary tax on its gaming activities (see also Note 8(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. Additionally, for the years ended December 31, 2019 and 2020, the Company received dividend income from a subsidiary. The dividend income is not subject to Hong Kong profits tax. (ii) 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 Sands Macao expired in August 2012, for The Venetian Macao in August 2019, with exception of its casino area which expired in August 2013, and for The Plaza Macao in August 2020. The exemptions for The Londoner Macao and The Parisian Macao will be expiring in December 2027 and September 2028, respectively. Regarding The Grand Suites at Four Seasons, under the initial exemption, it has an exemption with expiration date of April 2019. The Group is currently working on obtaining the second exemption for The Grand Suites at Four Seasons.

Earnings_(Loss) Per Share

Earnings/(Loss) Per Share	12 Months Ended
Earnings/(Loss) Per Share	Dec. 31, 2021
Earnings/(Loss) per share [Abstract]
Earnings/(Loss) Per Share	EARNINGS/(LOSS) PER SHARE The calculation of basic and diluted earnings/(loss) per share are set out in the following: Year ended December 31, 2019 2020 2021 Profit/(loss) attributable to equity holders of the Company (US$ in millions) $ 2,033 $ (1,523) $ (1,048) Weighted average number of shares for basic earnings/(loss) per share (thousand shares) 8,085,149 8,089,202 8,092,597 Adjustments for share options (thousand shares) (i) 5,057 — — Weighted average number of shares for diluted earnings/(loss) per share (thousand shares) 8,090,206 8,089,202 8,092,597 Earnings/(loss) per share, basic (ii) US25.14 cents (US18.82 cents) (US12.95 cents) HK195.79 cents (HK145.90 cents) (HK101.00 cents) Earnings/(loss) per share, diluted (ii) US25.13 cents (US18.82 cents) (US12.95 cents) HK195.71 cents (HK145.90 cents) (HK101.00 cents) (i) The computation of the diluted loss per share for the years ended December 31, 2020 and 2021 did not assume the exercise of the Company's share options because the exercise would result in a decrease in loss per share. (ii) The translation of US$ amounts into HK$ amounts has been made at the exchange rate on December 31, 2019, 2020 and 2021 of US$1.00 to HK$7.7879, US$1.00 to HK$7.7526 and US$1.00 to HK$7.7994, respectively.

Dividends

Dividends	12 Months Ended
Dividends	Dec. 31, 2021
Disclosure of dividends [Abstract]
Dividends	DIVIDENDS Dividend payments made during the year were as follows: Year ended December 31, 2019 2020 2021 (US$ in millions) 2018 interim dividend of HK$0.99 (equivalent to US$0.127) per ordinary share declared on January 18, 2019 and paid (i) $ 1,023 $ — $ — 2018 final dividend of HK$1.00 (equivalent to US$0.127) per ordinary share declared on May 24, 2019 and paid (i) 1,031 — — 2019 interim dividend of HK$0.99 (equivalent to US$0.127) per ordinary share declared on January 17, 2020 and paid (i) — 1,025 — $ 2,054 $ 1,025 $ — (i) The 2018 interim and final dividend and the 2019 interim dividend were not recognized as a liability as at December 31, 2018 and 2019, respectively. They were reflected as appropriation of reserves during 2019 and 2020, respectively. 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. On February 19, 2021, the Board did not recommend the payment of a final dividend in respect of the year ended December 31, 2020. On August 13, 2021, the Board did not recommend the payment of an interim dividend in respect of the six months ended June 30, 2021. The Board does not recommend the payment of a final dividend in respect of the year ended December 31, 2021.

Investment Properties, Net

Investment Properties, Net	12 Months Ended
Investment Properties, Net	Dec. 31, 2021
Disclosure of detailed information about investment property [abstract]
Investment Properties, Net	INVESTMENT PROPERTIES, NET 2020 2021 (US$ in millions) Cost At January 1 $ 1,004 $ 990 Additions 7 20 Adjustments to project costs (3) — Disposals (24) (3) Transfers from property and equipment 2 129 Exchange difference 4 (6) At December 31 $ 990 $ 1,130 Accumulated depreciation At January 1 $ (417) $ (447) Depreciation (52) (52) Disposals 24 3 Exchange difference (2) 3 At December 31 $ (447) $ (493) Carrying amount At December 31 $ 543 $ 637 (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 based on income and an open market value approach for all completed properties are as follows: December 31, 2020 2021 (US$ in millions) Fair value of the investment properties $ 7,686 $ 7,999 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, 2019 2020 2021 (US$ in millions) Mall income $ 531 $ 269 $ 473 Direct operating expenses arising from investment properties that generate right-of-use income $ 50 $ 37 $ 34 Direct operating expenses that did not generate right-of-use income $ 5 $ 6 $ 11 During the years ended December 31, 2019, 2020 and 2021, mall income in the table above included turnover fees, representing variable lease income of US$74 million, US$29 million and US$90 million, respectively, and rent concessions of US$215 million and US$41 million granted to mall tenants during the years ended December 31, 2020 and 2021, respectively, as a result of the COVID-19 Pandemic. (c) Leasing arrangements The investment properties are leased to mall tenants under operating leases with rentals payable on a monthly basis. Lease payments in the mall leasing contracts include variable lease payments that depend on turnover of the retail store. Where necessary to reduce credit risk, the Group may obtain bank guarantees for the term of a lease or cash security deposit at the commencement of a lease. There is no residual value guarantee for our current mall leases. The future aggregate minimum lease/base fee receivables under non-cancelable agreements are as follows: December 31, 2020 2021 (US$ in millions) No later than 1 year $ 334 $ 300 1 to 2 years 244 229 2 to 3 years 178 174 3 to 4 years 140 117 4 to 5 years 113 105 Later than 5 years 407 308 $ 1,416 $ 1,233

Property and Equipment, Net

Property and Equipment, Net	12 Months Ended
Property and Equipment, Net	Dec. 31, 2021
Disclosure of detailed information about property, plant and equipment [abstract]
Property and Equipment, Net	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) Cost At January 1, 2020 $ 675 $ 399 $ 9,377 $ 7 $ 63 $ 252 $ 2,082 $ 494 $ 13,349 Additions 1 — 9 2 29 — 47 1,024 1,112 Adjustments to project costs (2) (7) 4 — — — (2) — (7) Disposals — (24) (127) (2) (26) — (58) (2) (239) Transfers (i) — 2 583 — — — 156 (743) (2) Exchange difference — 2 44 — — — 10 1 57 At December 31, 2020 $ 674 $ 372 $ 9,890 $ 7 $ 66 $ 252 $ 2,235 $ 774 $ 14,270 Accumulated depreciation and impairment At January 1, 2020 $ (135) $ (156) $ (3,042) $ (6) $ (27) $ (207) $ (1,415) $ — $ (4,988) Depreciation (13) (6) (404) (1) (11) (5) (174) — (614) Disposals — 22 95 2 12 — 55 — 186 Exchange difference — (1) (14) — — — (7) — (22) At December 31, 2020 $ (148) $ (141) $ (3,365) $ (5) $ (26) $ (212) $ (1,541) $ — $ (5,438) Carrying amount At December 31, 2020 $ 526 $ 231 $ 6,525 $ 2 $ 40 $ 40 $ 694 $ 774 $ 8,832 Cost At January 1, 2021 $ 674 $ 372 $ 9,890 $ 7 $ 66 $ 252 $ 2,235 $ 774 $ 14,270 Additions — — 2 — 2 — 27 485 516 Adjustments to project costs — — (9) — (2) — (8) — (19) Disposals — — (44) — — — (35) (4) (83) Transfers (i) — — 859 — — — 128 (1,116) (129) Exchange difference — (2) (64) — — — (13) (1) (80) At December 31, 2021 $ 674 $ 370 $ 10,634 $ 7 $ 66 $ 252 $ 2,334 $ 138 $ 14,475 Accumulated depreciation and impairment At January 1, 2021 $ (148) $ (141) $ (3,365) $ (5) $ (26) $ (212) $ (1,541) $ — $ (5,438) Depreciation (13) (4) (439) (1) (11) (5) (189) — (662) Disposals — — 38 — — — 34 — 72 Exchange difference — — 21 — — — 9 — 30 At December 31, 2021 $ (161) $ (145) $ (3,745) $ (6) $ (37) $ (217) $ (1,687) $ — $ (5,998) Carrying amount At December 31, 2021 $ 513 $ 225 $ 6,889 $ 1 $ 29 $ 35 $ 647 $ 138 $ 8,477 (i) During the years ended December 31, 2020 and 2021, the net transfers to investment properties were US$2 million and US$129 million, respectively. Interest expense of US$21 million and US$14 million in Note 7 and other direct costs of US$24 million and US$20 million were capitalized for the years ended December 31, 2020 and 2021, 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, The Londoner Macao 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, 2020 and 2021, the Group’s property and equipment were not pledged as securities for any liabilities.

Leases

Leases	12 Months Ended
Leases	Dec. 31, 2021
Disclosure of quantitative information about leases for lessee [abstract]
Leases	LEASES This note provides information for leases where the Group is a lessee. For leases where the Group is a lessor, see Note 11(b) and 11(c). (a) Right-of-use assets The movements of right-of-use assets included within "Property and equipment, net" and "Investment properties, net" for the year are as follows: Property and equipment, net - Leasehold interests in land Investment properties, net - Leasehold interests in land Property and equipment, net - Other Total Right-of-use assets (US$ millions) Cost At January 1, 2020 $ 675 $ 56 $ 32 $ 763 Additions 1 — 25 26 Adjustments to costs (2) — — (2) Disposals — — (17) (17) At December 31, 2020 $ 674 $ 56 $ 40 $ 770 Accumulated depreciation At January 1, 2020 $ (135) $ (13) $ (11) $ (159) Depreciation (13) (1) (13) (27) Disposals — — 3 3 At December 31, 2020 $ (148) $ (14) $ (21) $ (183) Carrying amount At December 31, 2020 $ 526 $ 42 $ 19 $ 587 Cost At January 1, 2021 $ 674 $ 56 $ 40 $ 770 Additions — — 9 9 Disposals — — (7) (7) At December 31, 2021 $ 674 $ 56 $ 42 $ 772 Accumulated depreciation At January 1, 2021 (148) (14) (21) (183) Depreciation (13) (1) (11) (25) Disposals — — 7 7 At December 31, 2021 $ (161) $ (15) $ (25) $ (201) Carrying amount At December 31, 2021 $ 513 $ 41 $ 17 $ 571 (b) Lease liabilities The lease liabilities included within borrowings are as follows: December 31, 2020 2021 (US$ in millions) Current liabilities — Borrowings $ 21 $ 17 Non-current liabilities — Borrowings 124 124 Total lease liabilities $ 145 $ 141 The weighted average effective interest rate of lease liabilities as at December 31, 2020 and 2021 was 4.9% and 4.8%, respectively. The maturity analysis of the lease liabilities are presented in Note 27(a)(iii). (c) Amounts recognized in the consolidated income statement Year ended December 31, 2019 2020 2021 (US$ in millions) Depreciation charge of right-of-use assets: Property and equipment, net — Leasehold interests in land $ 12 $ 13 $ 13 Property and equipment, net — Other 9 13 11 Investment properties, net — Leasehold interests in land 1 1 1 $ 22 $ 27 $ 25 Interest expense on lease liabilities $ 8 $ 8 $ 8 Expense relating to short-term leases exempted from recognition 2 1 1 Expense relating to low-value items exempted from recognition 1 1 — Expense relating to variable lease payments 5 1 — $ 38 $ 38 $ 34 The total cash outflow for leases including interest payments for the years ended December 31, 2019, 2020 and 2021 were US$30 million, US$15 million and US$14 million, respectively, which included a total of variable lease payments, low-value lease payments and short-term lease payments of US$8 million, US$3 million and US$1 million, respectively. (d) Extension and termination options and residual value guarantee 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 10 years. Land concessions in Macao generally have an initial term of 25 years with automatic extensions of 10 years thereafter in accordance with Macao law. The Group anticipates a useful life of 50 years related to the land concessions in Macao. 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. The Group’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

Intangible Assets, Net

Intangible Assets, Net	12 Months Ended
Intangible Assets, Net	Dec. 31, 2021
Disclosure of detailed information about intangible assets [abstract]
Intangible Assets, Net	INTANGIBLE ASSETS, NET Computer software 2020 2021 (US$ in millions) Cost At January 1 $ 130 $ 141 Additions 11 16 At December 31 $ 141 $ 157 Accumulated amortization At January 1 $ (82) $ (100) Amortization (18) (19) At December 31 $ (100) $ (119) Carrying amount At December 31 $ 41 $ 38

Deferred Income Tax Liabilities

Deferred Income Tax Liabilities	12 Months Ended
Deferred Income Tax Liabilities	Dec. 31, 2021
Changes in deferred tax liability (asset) [abstract]
Deferred Income Tax Liabilities	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, 2020 $ (45) Charge for the year (11) At December 31, 2020 (56) Credit for the year 2 At December 31, 2021 $ (54) 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, 2020 2021 (US$ in millions) Arising from unused tax losses $ 346 $ 421 Arising from pre-opening expenses 3 1 $ 349 $ 422 Subject to the agreement by tax authorities, out of the total unrecognized tax losses of approximately US$2,835 million as at December 31, 2020 and US$3,457 million as at December 31, 2021, an amount of approximately US$133 million one

Trade and Other Receivables and

Trade and Other Receivables and Prepayments, Net	12 Months Ended
Trade and Other Receivables and Prepayments, Net	Dec. 31, 2021
Trade and other receivables [abstract]
Trade and Other Receivables and Prepayments, Net	TRADE AND OTHER RECEIVABLES AND PREPAYMENTS, NET December 31, 2020 2021 Note (US$ in millions) Trade receivables $ 257 $ 241 Less: provision for expected credit losses (137) (125) Trade receivables, net 16(a) 120 116 Deferred rent 69 73 Less: amortization of deferred rent (42) (42) provision for doubtful deferred rent (2) (2) Prepayments 52 49 Other receivables 11 13 Trade and other receivables and prepayments, net 208 207 Less: non-current portion: deferred rent (13) (17) prepayments and other receivables (5) (7) (18) (24) Current portion $ 190 $ 183 (a) Trade receivables, net The aging analysis of trade receivables, net of provision for expected credit losses, is as follows: December 31, 2020 2021 (US$ in millions) 0 - 30 days $ 89 $ 90 31 - 60 days 9 7 61 - 90 days 5 2 Over 90 days 17 17 $ 120 $ 116 Trade receivables are measured at amortized costs and the carrying values 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. There is a concentration of credit risk related to net casino receivables as 67.6% and 47.6% of the casino receivables as at December 31, 2020 and 2021, respectively, were from the top five customers. Other than casino receivables, there are no other concentrations of credit risk with respect to trade receivables. 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 concentrations of credit risk for which a provision has not been established as at December 31, 2020 and 2021. 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 24.0% and 14.5% of total table games play for the years ended December 31, 2020 and 2021, 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 and premium players, which is considered in the establishment of the provision for expected credit losses. As at December 31, 2020 and 2021, a gross amount of casino receivables of US$247 million and US$160 million, was offset by commissions payable and front money deposits in an aggregate amount of US$39 million and US$8 million, resulting in net amounts of casino receivables before provision for expected credit losses of US$208 million and US$152 million, respectively. As at December 31, 2021, all outstanding receivables from gaming promoters were fully collected resulting from the closure of fixed room junket operations in December 2021. As at December 31, 2020 and 2021, included in the Group’s trade receivables balance were debtors with aggregate gross carrying amount of US$181 million and US$159 million which were past due as at the reporting date, of which US$158 million and US$141 million, respectively, related to casino receivables. During the year ended December 31, 2020 and 2021, there continued to be a delay in payments on casino receivables due to the inability of patrons to travel to the Group’s properties or to accomplish financial transactions due to the travel restrictions caused by the COVID-19 Pandemic. The collection of casino receivables has also been impacted by liquidity issues faced by certain patrons also stemming from the COVID-19 Pandemic. The Group has increased the provision for expected credit losses accordingly to account for the expected credit losses due to the COVID-19 Pandemic. The Group continues to closely monitor any delays in payments due to the COVID-19 Pandemic and will increase the provision accordingly depending on the facts and circumstances. Although the Group believes the provision on the casino receivables is adequate as at December 31, 2020 and 2021, it is possible the provisions could increase if the Group experiences further delays on payments from patrons. As at December 31, 2020 and 2021, except for credit impaired balances and outstanding significant balances with gross amount of US$130 million and US$135 million, respectively, that have been assessed individually, as part of the Group’s credit risk management, the Group uses debtors’ aging to assess the impairment for its customers because these remaining customers consist of a large number of small customers with common risk characteristics representative of the customers’ abilities to pay all amounts due in accordance with the contractual terms. The following table provides information about the exposure to credit risk for trade receivables which were assessed based on provision matrix as at December 31, 2020 and 2021 within lifetime ECL. December 31, 2020 2021 Provision matrix – debtors' aging Expected loss rate (US$ in millions) Current (not past due) — $ 53 $ 17 1 — 90 days past due 2 % — 10% 16 10 91 — 360 days past due 15 % — 25% 6 4 More than 360 days past due 50 % — 100% 52 75 $ 127 $ 106 The expected loss rates are estimated based on historical observed default rates over the expected life of the receivable balance and 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, 2020 2021 (US$ in millions) At beginning of year $ 106 $ 137 Provision for expected credit losses, net 50 1 Amounts written-off (19) (13) At end of year $ 137 $ 125 (b) Other receivables and deferred rent Other receivables are measured at amortized costs and the carrying values approximate their fair values at each balance sheet date, which also represent the Group’s maximum exposure to credit risk as at December 31, 2020 and 2021. The Group holds security deposits, bank guarantees and letters of credit for certain other receivables and deferred rent. For the year ended December 31, 2019, no impairment charges related to deferred rent were recorded. For the years ended December 31, 2020 and 2021, impairment charges of US$2 million related to deferred rent were recorded in each of the respective years, 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, 2021
Cash and cash equivalents [abstract]
Cash and Cash Equivalents	CASH AND CASH EQUIVALENTS December 31, 2020 2021 (US$ in millions) Cash at bank and on hand $ 532 $ 316 Short-term bank deposits 329 362 $ 861 $ 678 As at December 31, 2020 and 2021, the effective interest rates on short-term bank deposits ranged from 0.1% to 1.0% per annum. These deposits have maturities ranging from 5 to 19 days and 5 to 28 days, respectively. Cash and cash equivalents are measured at amortized costs and the carrying values of cash equivalents are their fair values as at December 31, 2020 and 2021. The estimated fair value of the Group’s cash and cash equivalents is based on level 1 inputs (quoted market prices in active markets). The maximum credit exposure of cash and cash

Share Capital

Share Capital	12 Months Ended
Share Capital	Dec. 31, 2021
Disclosure of classes of share capital [abstract]
Share Capital	SHARE CAPITAL Ordinary shares of US$0.01 each US$ in millions Authorized At January 1, 2019, December 31, 2019, December 31, 2020 and December 31, 2021 16,000,000,000 $ 160 Issued and fully paid At January 1, 2019 8,080,603,691 $ 81 Shares issued upon exercise of share options 7,748,525 — At December 31, 2019 8,088,352,216 81 Shares issued upon exercise of share options 1,766,550 — At December 31, 2020 8,090,118,766 81 Shares issued upon exercise of share options 3,070,100 — At December 31, 2021 8,093,188,866 $ 81

Reserves

Reserves	12 Months Ended
Reserves	Dec. 31, 2021
Disclosure of reserves within equity [abstract]
Reserves	RESERVES The amount of the Group’s reserves and the movements therein for the current and prior years 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	12 Months Ended
Trade and Other Payables	Dec. 31, 2021
Trade and other payables [abstract]
Trade and other payables	TRADE AND OTHER PAYABLES December 31, Notes 2020 2021 (US$ in millions) Trade payables 20(a) $ 51 $ 31 Customer deposits and other deferred revenue 20(b) 412 401 Construction payables and accruals 316 188 Interest payables 156 141 Accrued employee benefit expenses 136 134 Other tax payables 118 115 Outstanding chip liability 20(b) 189 65 Loyalty program liability 20(b) 28 26 Casino liabilities 22 21 Payables to related companies 25(b) 3 5 Other payables and accruals 62 56 1,493 1,183 Less: non-current portion (105) (112) Current portion $ 1,388 $ 1,071 Trade and other payables are measured at amortized cost and the carrying amount approximate their fair values at each balance sheet date. (a) Trade payables The aging analysis of trade payables based on invoice date is as follows: December 31, 2020 2021 (US$ in millions) 0 — 30 days $ 31 $ 22 31 — 60 days 15 7 61 — 90 days 3 1 Over 90 days 2 1 $ 51 $ 31 (b) 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 gaming promoters 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 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 Chip Liability Loyalty Program Liability Customer Deposits and Other Deferred Revenue (i) 2020 2021 2020 2021 2020 2021 (US$ in millions) Balance at January 1 $ 485 $ 189 $ 31 $ 28 $ 395 $ 412 Balance at December 31 189 65 28 26 412 401 (Decrease)/increase (ii) $ (296) $ (124) $ (3) $ (2) $ 17 $ (11) (i) Of this amount, US$129 million, US$125 million and US$118 million as at January 1, 2020, December 31, 2020, and December 31, 2021, respectively, related to mall deposits that were accounted for based on lease terms usually greater than one year. (ii) The decrease noted in outstanding chip liability in 2021 primarily resulted from the closure of the fixed room junket operations in December 2021.

Borrowings

Borrowings	12 Months Ended
Borrowings	Dec. 31, 2021
Disclosure of detailed information about borrowings [abstract]
Borrowings	BORROWINGS December 31, 2020 2021 (US$ in millions) Non-current portion Senior Notes $ 7,000 $ 7,150 Bank loans — 753 Lease liabilities 124 124 Other borrowings — 2 7,124 8,029 Less: deferred financing costs (80) (83) 7,044 7,946 Current portion Lease liabilities 21 17 Other borrowings — $ 1 21 $ 18 Total borrowings $ 7,065 $ 7,964 Borrowings are measured at amortized cost and the estimated fair value of the Group’s Senior Notes as at December 31, 2020 and 2021 were approximately US$7.77 billion and US$7.27 billion, respectively. As at December 31, 2020 and 2021, the estimated fair value of the Group’s Senior Notes were based on recent trades, if available, and indicative pricing from market information (level 2 inputs). Senior Notes On August 9, 2018, the Company issued, in a private offering, three series of senior unsecured unregistered 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”). A portion of the net proceeds from the offering was used to repay in full the outstanding borrowings under the 2016 VML Credit Facility. There are no interim principal payments on the 2023 Notes, 2025 Notes or 2028 Notes and interest is payable semi-annually in arrears on each February 8 and August 8. In connection with the US$5.50 billion Senior Notes, the Company entered into fixed-to-variable interest rate swap contracts which expired in August 2020 (see Note 22). On June 4, 2020, the Company issued, in a private offering, two series of senior unsecured unregistered 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”). The net proceeds from the offering were used for incremental liquidity and general corporate purposes. There are no interim principal payments on the 2026 Notes or 2030 Notes and interest is payable semi-annually in arrears on January 8 and July 8, commencing 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. On September 23, 2021, the Company issued, in a private offering, three series of senior unsecured unregistered notes in an aggregate principal amount of US$1.95 billion, consisting of US$700 million of 2.300% Senior Notes due March 8, 2027 (the “2027 Notes”), US$650 million of 2.850% Senior Notes due March 8, 2029 (the “2029 Notes”) and US$600 million of 3.250% Senior Notes due August 8, 2031 (the “2031 Notes” ). There are no interim principal payments on the 2027 Notes, 2029 Notes or 2031 Notes and interest is payable semi-annually in arrears on each March 8 and September 8, commencing on March 8, 2022, with respect to the 2027 Notes and 2029 Notes, and on each February 8 and August 8, commencing on February 8, 2022, with respect to the 2031 Notes. The Company used the net proceeds from the offering and cash on hand to redeem in full the outstanding principal amount of its US$1.80 billion 4.600% Senior Notes due 2023, any accrued interest and the associated make-whole premium as determined under the related senior notes indenture dated as at August 9, 2018. The Senior Notes are senior unsecured obligations of the Company. Each series of notes rank 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. The 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 the Senior Notes. The 2023 Notes, 2025 Notes and 2028 Notes were issued pursuant to an indenture, dated August 9, 2018 (the “2018 Indenture”), the 2026 Notes and 2030 Notes were issued pursuant to an indenture, dated June 4, 2020 (the “2020 Indenture”) and the 2027 Notes, 2029 Notes and 2031 Notes were issued pursuant to an indenture, dated September 23, 2021 (the “2021 Indenture” and together with the 2018 Indenture and 2020 Indenture, the “Senior Notes Indentures”), between the Company and U.S. Bank National Association, as trustee. Upon the occurrence of certain events described in these Senior Notes Indentures, the interest rate on the Senior Notes may be adjusted. The Senior Notes Indentures contain 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 indentures also provide for customary events of default. Under the Senior Notes Indentures, upon the occurrence of any event resulting from any change in the Gaming Law (as defined in the indentures) or any action by the gaming authority after which none of the Company or any of its subsidiaries own or manage casino or gaming areas or operate casino games of fortune and chance in Macao in substantially the same manner as they were owning or managing casino or gaming areas or operating casino games as at the issue date of the Senior Notes, for a period of 30 consecutive days or more, and such event has a material adverse effect on the financial condition, business, properties or results of operations of the Company and its subsidiaries, taken as a whole, each holder of the Senior Notes would have the right to require the Company to repurchase all or any part of such holder’s Senior Notes at par, plus accrued and unpaid interest (the “Investor Put Option”). The Company is actively monitoring developments with respect to the Macao government’s Gaming Law amendment and concession renewal process and continues to believe it will be successful in extending the term of its Subconcession and/or obtaining a new gaming concession when its current Subconcession expires. Given the Investor Put Option is considered to be a future uncertain event which had not been triggered, the Senior Notes were classified as non-current liabilities as at December 31, 2021. Refer to Note 1 and Note 3(b) for further information. The cost associated with the early termination of the 4.600% Senior Notes due 2023, including the make-whole premium of US$131 million and US$6 million in unamortized original issue discount and deferred financing costs, was recorded as a loss on early retirement of debt in the consolidated income statement during the year ended December 31, 2021. 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 that is determined by reference to the consolidated leverage ratio as defined in the 2018 SCL Credit Facility. 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. 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 EBITDA (as defined in the 2018 SCL Credit Facility) of 4.0x throughout the life of the facility, and a minimum ratio of trailing twelve-month adjusted EBITDA (as defined in the 2018 SCL Credit Facility) to net interest expense (including capitalized interest) of 2.5x throughout the life of the facility. On March 27, 2020, the Company entered into a waiver and amendment request letter (the “Waiver Letter”) with respect to certain provisions of the 2018 SCL Credit Facility, pursuant to which lenders (a) waived the requirements for the Company to comply with the requirements that the Company ensure the maximum consolidated leverage ratio does not exceed 4.0x and minimum consolidated interest coverage ratio of 2.5x for any quarterly period ending during the period beginning on, and including, January 1, 2020 and ending on, and including, July 1, 2021 (the “SCL Relevant Period”) (other than with respect to the financial year ended on December 31, 2019); (b) waived any default that may arise as a result of any breach of said requirements during the SCL Relevant Period (other than with respect to the financial year ended on December 31, 2019); and (c) extended the period of time during which the Company may supply the agent with (i) its audited consolidated financial statements for the financial year ended on December 31, 2019, to April 30, 2020; and (ii) its audited consolidated financial statements for the financial year ending on December 31, 2020, to April 30, 2021. Pursuant to the Waiver Letter, the Company agreed to pay a customary fee to the lenders that consented. On September 11, 2020, the Company entered into a waiver extension and amendment request letter (the “Waiver Extension Letter”) with respect to certain provisions of the 2018 SCL Credit Facility, pursuant to which lenders agreed to (a) extend the SCL Relevant Period such that it ends on, and includes, January 1, 2022 instead of July 1, 2021; and (b) amend and restate the 2018 SCL Credit Facility in the form attached to the Waiver Extension Letter, which contains the following amendments: (1) it provides the Company with the option to increase the total borrowing capacity by an aggregate amount of up to US$1.0 billion; and (2) it imposes a restriction on the ability of the Company to declare or make any dividend payment or similar distribution at any time during the period from (and including) July 1, 2020 to (and including) January 1, 2022, if at such time (x) the total borrowing capacity exceeds US$2.0 billion by operation of the increase referred to above; and (y) the maximum consolidated leverage ratio is greater than 4.0x, unless, after giving effect to such payment, the sum of (i) the aggregate amount of cash and cash equivalents of the Company on such date; and (ii) the aggregate amount of the undrawn facility under the 2018 SCL Credit Facility and unused commitments under other credit facilities of the Company is greater than US$2.0 billion. Pursuant to the Waiver Extension Letter, the Company agreed to pay a customary fee to the lenders that consented. On July 7, 2021, the Company entered into a waiver extension and amendment request letter (the “Third Waiver Extension Letter”) with respect to certain provisions of the 2018 SCL Credit Facility, pursuant to which lenders agreed to (a) extend by one year to (and including) January 1, 2023, the waiver period for the requirement for the Company to comply with the requirements that the Company ensures the consolidated leverage ratio does not exceed 4.0x and the consolidated interest coverage ratio is not less than 2.5x as at the last day of the financial quarter; (b) extend the period of time during which the Company may supply the agent with its audited consolidated financial statements for the financial year ending on December 31, 2021 to April 30, 2022; and (c) extend by one year to (and including) January 1, 2023, the period during which the Company’s ability to declare or make any dividend payment or similar distribution is restricted if at such time (x) the Total Commitments (as defined in the 2018 SCL Credit Facility) exceed US$2.0 billion by the Company’s exercise of the option to increase the Total Commitments by an aggregate amount of up to US$1.0 billion; and (y) the consolidated leverage ratio is greater than 4.0x, unless, after giving effect to such payment, the sum of (i) the aggregate amount of cash and cash equivalents of the Company on such date; and (ii) the aggregate amount of the undrawn facility under the 2018 SCL Credit Facility and unused commitments under other credit facilities of the Company is greater than US$2.0 billion. Pursuant to the Third Waiver Extension Letter, the Company paid a customary fee to the lenders that consented. Under the 2018 SCL Credit Facility, the events that trigger an Investor Put Option under the Senior Notes (as described above) would be an Event of Default (as defined in the credit agreement), which may result in commitments being immediately cancelled, in whole or in part, and the related outstanding balances and accrued interest, if any, becoming immediately due and payable. 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. The Company is actively monitoring developments with respect to the Macao government’s Gaming Law amendment and concession renewal process and continues to believe it will be successful in extending the term of its Subconcession and/or obtaining a new gaming concession when its current Subconcession expires. Given the Investor Put Option is considered to be a future uncertain event which had not been triggered and that the covenants and events of default under the 2018 SCL Credit Facility had not been breached as at December 31, 2021, the outstanding balance under the 2018 SCL Credit Facility was classified as non-current liabilities as at December 31, 2021. Refer to Note 1 and Note 3(b) for further information. On January 25, 2021, the Company entered into an agreement with lenders to increase commitments under the 2018 SCL Credit Facility by HK$3.83 billion (approximately US$491 million at exchange rates in effect on December 31, 2021). During the year ended December 31, 2021, the Company drew down US$71 million and HK$5.31 billion (approximately US$681 million at exchange rates in effect on December 31, 2021) under the facility for general corporate purposes. The weighted average interest rate for the 2018 SCL Credit Facility was 2.6% for the year ended December 31, 2021. As at December 31, 2020, the Company had US$2.02 billion of available borrowing capacity under the 2018 SCL Revolving Facility comprised of commitments of HK$13.81 billion (approximately US$1.78 billion at exchange rates in effect on December 31, 2020) and commitments of US$237 million. As at December 31, 2021, the Company had US$1.75 billion of available borrowing capacity under the 2018 SCL Revolving Facility comprised of commitments of HK$12.32 billion (approximately US$1.58 billion at exchange rates in effect on December 31, 2021) and commitments of US$166 million. On March 15, 2022, the Company drew down US$19 million and HK$1.42 billion (approximately US$182 million at the exchange rate in effect on the date of this transaction) under the 2018 SCL Credit Facility for general corporate purposes, resulting in a remaining available borrowing capability of US$1.54 billion. Reconciliation of liabilities arising from financing activities The table below details changes in the Group’s liabilities arising from financing activities, including both cash and non-cash changes. Liabilities arising from financing activities are those for which cash flows were, or future cash flows will be, classified in the Group’s consolidated statement of cash flows as cash flows from financing activities. Senior Notes (i) Bank loans (ii) Lease liabilities Deferred financing costs Net interest payables (iii) Other borrowings Dividend payables Total (US$ in millions) Balance as at January 1, 2020 $ 5,535 $ — $ 147 $ (74) $ 83 $ — $ — $ 5,691 Financing cash flows 1,496 (1) (11) (20) (209) — (1,030) 225 Non-cash changes: Original issue discount 4 — — (4) — — — — Accruals — — 9 — 282 — 1,025 1,316 Amortization — — — 17 — — — 17 Foreign exchange movement — 1 — 1 — — 5 7 Fair value adjustment of the interest rate swaps (35) — — — — — — (35) Balance as at December 31, 2020 $ 7,000 $ — $ 145 $ (80) $ 156 $ — $ — $ 7,221 Financing cash flows 146 756 (12) (27) (378) — — 485 Non-cash changes: Original issue discount 4 — — (4) — — — — Accruals — — 8 (1) 364 3 — 374 Amortization — — — 23 — — — 23 Loss on early retirement of debt — — — 6 — — — 6 Foreign exchange movement — (3) — — (1) — — (4) Balance as at December 31, 2021 $ 7,150 $ 753 $ 141 $ (83) $ 141 $ 3 $ — $ 8,105 (i) During the year ended December 31, 2021, cash flows from Senior Notes consisted of proceeds from Senior Notes of US$1.95 billion and repayment of 2023 Notes of US$1.80 billion. (ii) Cash flows from bank loans were net of proceeds and repayments in the statement of cash flows. (iii) As at January, 2020, net interest payables represented the net of interest payables and interest rate swap receivables. During the year ended December 31, 2020, cash flows from net interest payables represented the net of interest income received from interest rate swaps and interest payment made. The interest rate swaps expired in August 2020.

Derivative Financial instrument

Derivative Financial instruments	12 Months Ended
Derivative Financial instruments	Dec. 31, 2021
Disclosure of detailed information about financial instruments [abstract]
Derivative Financial Instruments	DERIVATIVE FINANCIAL INSTRUMENTS The Group recognizes all derivatives as financial instruments measured at fair value through profit or loss on the balance sheet. 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. During the year ended December 31, 2021, the Company entered into two foreign currency swap agreements. The objective of both agreements is to manage the risk of changes in cash flows resulting from foreign currency gains/losses realized upon remeasurement of US$ denominated Senior Notes by swapping a specified amount of HK$ for US$ at the contractual spot rate. The terms in one of the contracts did not effectively match the terms of the related Senior Notes; thus, it was not designated as hedging (the “Non-Hedging Swap”). The remaining contract was designated as a hedge of the cash flows related to a portion of the Senior Notes (the “Hedging Swap”, and together with the Non-Hedging Swap, the “FX Swaps”). The Non-Hedging Swap and the Hedging Swap have a total notional value of US$500 million and US$1.0 billion, respectively, and expire in August 2023 and August 2025, respectively. As at December 31, 2021, the total fair value of the FX Swaps was US$2 million and was recorded as an asset in “Other assets, net — non-current”. The fair value of the FX Swaps was estimated using Level 2 inputs from recently reported market transactions of foreign currency exchange rates. As at December 31, 2021, for the Hedging Swap, a total of US$4 million were recognized as hedge reserve in the consolidated balance sheet relating to the changes in fair value of the derivative and foreign currency gains/losses incurred from the remeasurement of the portion of the Senior Notes being hedged during the year. For the Non-Hedging Swap the changes in fair value of the derivative of US$1 million were recorded in other income in the consolidated income statement. 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 the 2023 Notes, 2025 Notes and 2028 Notes. These IR Swaps had a total notional value of US$5.50 billion and expired in August 2020. For the years ended December 31, 2019 and 2020, the Group recorded US$23 million and US$53 million, respectively, as a reduction to interest expense related to the realized amount associated with the IR Swaps. 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 gains or losses were recognized due to hedge ineffectiveness.

Note to Consolidated Statement

Note to Consolidated Statement of Cash Flows	12 Months Ended
Note to Consolidated Statement of Cash Flows	Dec. 31, 2021
Statement of cash flows [abstract]
Note to Consolidated Statement of Cash Flows	NOTE TO CONSOLIDATED STATEMENT OF CASH FLOWS Cash generated from/(used in) operations is as follows: Year ended December 31, 2019 2020 2021 (US$ in millions) Profit/(loss) before income tax $ 2,033 $ (1,507) $ (1,045) Adjustments for: Interest income (38) (11) (2) Interest and other finance costs 265 261 350 Depreciation and amortization 706 684 733 Amortization of deferred financing costs 15 17 23 Amortization of deferred rent 13 9 10 Amortization of other assets 3 3 3 Loss on disposal of property and equipment, investment properties and intangible assets 16 39 8 Impairment loss on property and equipment 65 — — Loss on early retirement of debt — — 137 Provision for expected credit losses, net 24 52 3 Equity-settled share-based compensation expense, net of amounts capitalized 13 9 5 Fair value gain on derivative financial instruments — — (1) Net foreign exchange (gains)/losses (34) (18) 36 Changes in working capital: Other assets (5) — 3 Inventories (2) 2 — Trade and other receivables and prepayments (65) 216 (11) Trade and other payables (191) (567) (159) Cash generated from/(used in) operations $ 2,818 $ (811) $ 93

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2021
Commitments and contingencies [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES (a) Capital commitments Significant capital expenditure on property and equipment contracted for at the end of the reporting period but not recognized as liabilities is as follows: December 31, 2020 2021 (US$ in millions) Contracted but not provided for $ 385 $ 75 (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 Contract that was recognized and approved by the Macao government and allows VML to develop and operate casino projects, including The Venetian Macao, The Londoner Macao, The Parisian Macao, The Plaza Macao and Sands Macao, separately from Galaxy. Beginning on December 26, 2017, the Macao government had the power to redeem the Subconcession Contract by providing the Group at least one year’s prior notice. As at June 26, 2021, that redemption right has expired. The Subconcession of VML will expire on June 26, 2022. On March 3, 2022, the Macao government announced its intention to extend the term of Macao's six concession and subconcession contracts from June 26, 2022 until December 31, 2022 in order to ensure sufficient time to complete the amendment to the Gaming Law and conduct a public tender for the awarding of new gaming concessions. The Macao government invited VML to submit a formal request for an extension along with a commitment to pay the Macao government up to MOP47 million (approximately US$6 million at exchange rates in effect on December 31, 2021) and provide a bank guarantee to secure the fulfilment of VML's payment obligations towards its employees should VML be unsuccessful in tendering for a new concession contract after its Subconcession expires. VML submitted its request for an extension on March 14, 2022. The extension of VML's Subconcession is subject to approval by the Macao government as well as entering into a Subconcession amendment contract with Galaxy 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, 2021). 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$37,344, US$18,672 and US$124, respectively, at the exchange rate in effect on December 31, 2021), subject to a minimum of MOP45 million (approximately US$6 million at the exchange rate in effect on December 31, 2021). 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, 2021 and the expiration of the VML subconcession on June 26, 2022, the Group is obligated under the VML subconcession to make minimum future payments of approximately US$22 million through the termination of the gaming subconcession in June 2022. (d) Construction labor In recent years, the Group has utilized an imported construction labor quota granted by the Labour Affairs Bureau of the Macao government for purposes of completing outstanding areas within The Londoner Macao and The Parisian Macao project and for additions and alterations works in The Venetian Macao, The Plaza Macao and The Londoner Macao (the “Group Quota”). The Group Quota has been renewed and the import quota increased over the years, but is expected to decrease in 2022 as renovation and refurbishment works at The Londoner Macao are gradually completed. The Group Quota alone has historically not provided for sufficient numbers of staff and labor to complete construction works. The shortfall is covered by separate labor quotas applied by and awarded directly to the contractors by the Labour Affairs Bureau of the Macao government (the “Contractor Quota”). From 2018 until June 2021, BCA (Macau) Limited was retained to manage the Group Quota on behalf and at the direction of the Group, and since July 2021 the Group has been managing the Group Quota directly. In accordance with Macao labor law, the Group remains primarily liable for the fulfilment of all employer legal obligations and for the costs associated with persons employed under the Group Quota, including where such persons are seconded to contractors. Contractors utilizing seconded labor under the Group Quota are contractually obligated to reimburse and indemnify the Group for any and all costs incurred as a result of the secondment arrangement. In addition, the Group has the right to recover such costs against any amounts due to the contractors. Although the Group is not directly liable, it may be held vicariously liable for payments under

Related Party Transactions

Related Party Transactions	12 Months Ended
Related Party Transactions	Dec. 31, 2021
Disclosure of transactions between related parties [abstract]
Related Party Transactions	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, 2019 2020 2021 (US$ in millions) LVS $ — $ — $ 1 Fellow subsidiaries 5 4 3 $ 5 $ 4 $ 4 The Group provides management services 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 and marketing services. Management fees are charged at actual costs incurred or on a cost-plus basis. (ii) Management fee cost Year ended December 31, 2019 2020 2021 (US$ in millions) LVS $ 19 $ 10 $ 16 Fellow subsidiaries 7 3 5 $ 26 $ 13 $ 21 LVS Group companies provide management services to the Group. 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. The total management fee cost of US$21 million during the year ended December 31, 2021 was before the capitalization to deferred financing costs and prepayments of US$4 million and US$1 million, respectively. The net amount expensed in the consolidated income statement was US$16 million (Refer to Note 6). (iii) Expenses billed to/paid by other LVS group companies During the year, 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, 2019, 2020 and 2021 other than the emoluments paid to them (being the key management personnel remuneration) as disclosed in Note 5. (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 total gross non-gaming revenue and Paiza-related gaming revenue of Sands Macao, 1.5% of total gross revenue of The Venetian Macao, and 1.5% of total gross 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 full fiscal calendar years after commencement of operations of each subsequent property, a royalty fee of 1.5% of the respective total 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 The Londoner Macao 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, 2019, 2020 and 2021, the Group incurred US$110 million, US$22 million and US$42 million of royalty fees, respectively. (vi) Share-based compensation The Group participates in the share-based compensation plan of LVS (Notes 5 and 26). (b) Year-end balances between the Group and related companies December 31, 2020 2021 (US$ in millions) Receivables from a related company: LVS $ 1 $ — The receivables from a related company are unsecured, interest-free and have a credit term of 45 days. December 31, 2020 2021 Note (US$ in millions) Payables to related companies: LVS $ — $ 1 Intermediate holding company 3 4 20 $ 3 $ 5 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, 2021
Disclosure of share-based payment arrangements [Abstract]
Share-based Compensation	SHARE-BASED COMPENSATION (a) Share options of the Company Equity Award Plan The 2009 Equity Award Plan and 2019 Equity Award Plan (collectively, the “Equity Award Plan”) gives the Company a competitive edge in attracting, retaining and motivating employees, directors and consultants and to provide the Company with an equity award plan providing incentives directly related to increases in its shareholder value. Subject to certain criteria as defined in the Equity Award Plan, the Company's or its subsidiaries' employees, directors or officers and many of its consultants are eligible for awards under the Equity Award Plan. The 2009 Equity Award Plan provided for an aggregate of 804,786,508 Shares to be available for awards. The 2009 Equity Award Plan had a term of ten years, which expired on November 30, 2019, no further awards may be granted after the expiration of the term. All existing awards previously granted under the 2009 Equity Award Plan, but 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. Effective December 1, 2019, the 2019 Equity Award Plan was approved by Shareholders, with materially the same terms of the 2009 Equity Award Plan. As at December 31, 2021, there were 808,619,139 shares available for grant under the 2019 Equity Award Plan and no share options or any other Share-based Awards (under which new Shares will be issued) were granted during the year under the 2019 Equity Award Plan. 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 2019 Equity Award Plan. Share options under the 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. A summary of the share option activity for the Company’s 2009 Equity Award Plan is presented below: Year Ended December 31, 2019 2020 2021 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 57,382 $ 4.81 64,874 $ 4.99 54,418 $ 4.96 Granted 19,410 5.08 — — — — Exercised (7,749) 3.65 (1,766) 3.41 (3,070) 3.91 Forfeited (4,169) 5.35 (8,690) 5.51 (3,168) 5.32 Outstanding at December 31 64,874 $ 4.99 54,418 $ 4.96 48,180 $ 5.01 Exercisable at December 31 22,214 $ 5.10 32,903 $ 4.85 37,620 $ 4.94 The weighted average share price at the date of exercise for share options exercised during the years ended December 31, 2019, 2020 and 2021 was US$5.26, US$4.41 and US$4.86, respectively. The range of exercise prices and the weighted average remaining contractual life of the above share options outstanding as at the dates indicated are as follows: December 31, 2019 2020 2021 Range of exercise prices Number of options outstanding Weighted average remaining contractual life Number of options outstanding Weighted average remaining contractual life Number of options outstanding Weighted average remaining contractual life 1.01 - 2.00 210 0.42 — — — — 2.01 - 3.00 76 1.86 76 0.85 — — 3.01 - 4.00 11,045 5.88 9,783 4.85 8,392 3.87 4.01 - 5.00 16,092 7.41 13,394 6.34 11,066 5.38 5.01 - 6.00 31,292 8.65 26,587 7.68 24,433 6.67 6.01 - 7.00 2,023 6.42 1,851 5.24 1,758 4.13 7.01 - 8.00 2,098 4.32 1,288 3.27 1,288 2.27 8.01 - 9.00 2,038 4.21 1,439 3.21 1,243 2.21 64,874 7.49 54,418 6.53 48,180 5.56 Fair value estimates of the share options under 2009 Equity Award Plan The fair value of each option grant was estimated on the grant date using the Black-Scholes option-pricing model with the following weighted average assumptions: Year ended December 31, 2019 2020 2021 Expected volatility 36.9 % — — Expected life (years) 4.8 — — Risk-free annual interest rate 1.7 % — — Expected dividends 5.0 % — — Weighted average share price at the date of grant (US$) $ 5.06 $ — $ — Weighted average exercise price (US$) $ 5.08 $ — $ — Weighted average fair value of each share option granted by the Company (US$) $ 1.03 $ — $ — (b) Restricted share units of the Company Under the 2009 Equity Award Plan and the 2019 Equity Award Plan, the Company granted certain restricted share units (under which no new Shares will be issued) to eligible participants. Such restricted share units will vest over three to four years. 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 and the 2019 Equity Award Plan is presented below: Year Ended December 31, 2019 2020 2021 Number of restricted share units Weighted average grant date fair value (US$) Number of restricted share units Weighted average grant date fair value (US$) Number of restricted share units Weighted average grant date fair value (US$) Unvested at January 1 — $ — 1,407 $ 4.99 3,363 $ 4.44 Granted 1,412 4.99 2,337 4.11 13,040 3.22 Vested — — (244) 4.09 (961) 4.46 Forfeited (5) 4.99 (137) 4.97 (120) 4.53 Unvested at December 31 1,407 $ 4.99 3,363 $ 4.44 15,322 $ 3.40 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 closing price of the Company’s shares on the vesting date or 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, 2020 and 2021, the accrued liability associated with these cash-settled restricted share units was US$7 million and US$8 million, respectively. For the year ended December 31, 2019, the loss on re-measurement of the liability was less than US$1 million. The gain on re-measurement of the liability was less than US$1 million for the year ended December 31, 2020 and US$8 million for the year ended December 31, 2021. (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 “LVS Equity Plan”). LVS’s compensation committee may grant awards of non-qualified share options, incentive (qualified) share options, share appreciation rights, restricted share awards, restricted share units, share bonus awards, performance compensation awards or any combination of the foregoing. Share option awards are granted with an exercise price equal to the fair market value (as defined in the LVS Equity 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. 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. During the year ended December 31, 2021, no share options were granted, exercised nor expired. As at December 31, 2021, there were 132,525 share options outstanding with a weighted average exercise price of US$65.53, and 96,165 share options were exercisable at a weighted average exercise price of US$65.68. During the years ended December 31, 2019 and 2020, 41,546 and 33,768 share options were granted at a weighted average exercise price of US$57.05 and US$70.06, respectively. During the years ended December 31, 2019 and 2020, no share options were exercised nor expired. As at December 31, 2020, there were 132,525 share options outstanding with a weighted average exercise price of US$65.53, and 63,233 share options were exercisable at a weighted average exercise price of US$65.34. As at December 31, 2019, there were 98,757 share options outstanding with a weighted average exercise price of US$63.97, and 30,314 share options were exercisable at a weighted average exercise price of US$66.82. The expenses allocated to the Group in relation to the LVS Equity Plan during the years ended December 31, 2019, 2020 and 2021 were US$0.3 million, US$0.3 million and US$0.1 million, respectively. (d) Restricted share units of LVS The grant date fair value of the restricted share units is the share price of the ordinary shares of LVS at the respective grant date. The number of unvested restricted share units represents the number of ordinary shares of LVS to be given to the employees upon vesting. The restricted share units vest over 3 years. During the year ended December 31, 2021, 56,946 restricted share units were granted at a weighted average grant date fair value of US$41.27, no restricted share units were vested and no restricted share units were forfeited. As at December 31, 2021, there were 56,946 unvested restricted share units with a weighted average grant date fair value of US$41.27. There were no restricted share units granted and unvested during the year ended December 31, 2020.

Financial instruments

Financial instruments	12 Months Ended
Financial instruments	Dec. 31, 2021
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. The Group’s primary exposures to market risk are interest rate risk associated with long-term borrowings 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. (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 fixed rate long-term borrowings and interest rate swaps for the year ended December 31, 2020 and its fixed rate and variable rate long-term borrowings for the year ended December 31, 2021. Management monitors interest rate exposures and will consider hedging significant interest rate risk should the need arise. During the years ended December 31, 2019 and 2020, the Group held derivative financial instruments which consisted of interest rate swap contracts on the fixed rate 2023 Notes, 2025 Notes and 2028 Notes, which were designated as hedging instruments for accounting purposes. The fixed-to-variable interest rate swaps expired in August 2020. The Group’s borrowings at fixed rates were denominated in US$ during the years ended December 31, 2020 and December 31, 2021. As at December 31, 2020 and 2021, the estimated fair value of fixed rate long-term borrowings were approximately US$7.77 billion and US$7.27 billion, compared to its carrying value of US$7.0 billion and US$7.15 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. As at December 31, 2020 and 2021, a hypothetical 100 basis points change in market rates would cause the fair value of the fixed rate long-term borrowings to change by US$362 million and US$366 million, respectively. As at December 31, 2021, the estimated fair value of variable rate long-term borrowings was approximately the same as its carrying value of US$753 million. As at December 31, 2020, the Company did not hold any variable rate long-term borrowings. The estimated fair value of variable rate long-term borrowings is based on level 2 inputs (quoted prices in markets that are not active). As at December 31, 2021, a hypothetical 100 basis points change in interest rates would cause the annual interest expense of the variable rate long-term borrowings to change by US$7 million. Foreign exchange risk During the year ended December 31, 2021, the Group held derivative financial instruments which consisted of foreign currency swap contracts. Refer to Note 22 for further information. The Group’s financial assets and financial liabilities are denominated in the following currencies: HK$ US$ MOP RMB Other currencies Total (US$ in millions) At December 31, 2020 Financial assets Amortized costs: Trade and other receivables, net $ 118 $ 4 $ 9 $ — $ — $ 131 Restricted cash and cash equivalents — — 16 — — 16 Cash and cash equivalents 438 280 130 11 2 861 Deposits 1 — 1 — — 2 Total financial assets $ 557 $ 284 $ 156 $ 11 $ 2 $ 1,010 Financial liabilities Amortized costs: Trade and other payables $ 513 $ 143 $ 505 $ 3 $ 1 $ 1,165 Borrowings 4 6,920 139 2 — 7,065 Total financial liabilities $ 517 $ 7,063 $ 644 $ 5 $ 1 $ 8,230 At December 31, 2021 Financial assets Amortized costs: Trade and other receivables, net $ 111 $ 4 $ 14 $ — $ — $ 129 Restricted cash and cash equivalents — — 16 — — 16 Cash and cash equivalents 532 76 57 11 2 678 Deposits 1 — 1 — — 2 $ 644 $ 80 $ 88 $ 11 $ 2 $ 825 Fair value through other comprehensive income: Derivative financial instruments — 2 — — — 2 Total financial assets $ 644 $ 82 $ 88 $ 11 $ 2 $ 827 Financial liabilities Amortized costs: Trade and other payables $ 380 $ 121 $ 359 $ 3 $ — $ 863 Borrowings 9 7,822 132 1 — 7,964 Total financial liabilities $ 389 $ 7,943 $ 491 $ 4 $ — $ 8,827 The Group is subject to foreign exchange rate risk arising from future commercial transactions and recognizes assets and liabilities denominated in a currency other than MOP, which is the functional currency of the major operating companies within the Group. The Group’s foreign currency transactions are mainly denominated in US$. For companies with MOP as their functional currency, a hypothetical 1% weakening of the US$/MOP exchange rate would cause a foreign currency transaction loss of approximately US$49 million as at December 31, 2019, US$67 million as at December 31, 2020, and US$53 million net of the impact from the foreign currency swap agreements entered into in 2021 as at December 31, 2021. The hypothetical 1% weakening as at December 31, 2020 and 2021 were mainly as a result of the translation of US$ denominated debt held by SCL. The MOP is pegged to the HK$ and the HK$ is pegged to the US$ (within a narrow range), 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 with various creditworthy financial institutions and trade receivables with its customers. 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 not provided for as at December 31, 2020 and 2021. See Note 16 for details of credit risk related to trade receivables. (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, as amended, contain various financial covenants, which include maintaining a maximum leverage ratio or net debt, as defined, to trailing twelve-month adjusted earnings before interest, income taxes, depreciation and amortization, as defined. In July 2021, the Company extended the waiver and amendment request letter, pursuant to which lenders, among other things, waived the Company’s requirement to ensure the leverage ratio does not exceed 4.0x and the interest coverage ratio is greater than 2.50x, through January 1, 2023. The compliance with the financial covenants for periods beyond January 1, 2023, could be affected by certain factors beyond the Company’s control, such as the impact of the COVID-19 Pandemic, including current travel and border restrictions continuing in the future. The Company will pursue additional waivers to meet the required financial covenant ratios, which include a maximum leverage ratio of 4.0x under the 2018 SCL Credit Facility, for periods beyond January 1, 2023, if deemed necessary. The Company believes the Company will be successful in obtaining the additional waivers, although no assurance can be provided that such waivers will be granted, which could negatively impact the ability to be in compliance with the debt covenants for periods beyond January 1, 2023. The Directors of the Company are of the opinion that, taking into account the Group’s available borrowing capacity and the Group’s cash flow forecast for the coming year, the Group will have sufficient working capital to meet its cash flow requirements in the next twelve months from December 31, 2021. Refer to Note 1 for further information. 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, 2020 Senior Notes principal $ — $ — $ 3,600 $ 3,400 $ 7,000 Senior Notes interests 342 339 850 461 1,992 Lease liabilities 22 13 19 303 357 Trade and other payables 1,079 25 36 25 1,165 At December 31, 2021 Senior Notes principal $ — $ — $ 2,600 $ 4,550 $ 7,150 Senior Notes interests 306 310 823 464 1,903 Bank loans — 753 — — 753 Bank loans interests 20 12 — — 32 Other borrowings 1 1 1 — 3 Other borrowings interests — 1 — — 1 Lease liabilities 19 15 21 296 351 Trade and other payables 767 24 42 30 863 (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 (including current and non-current interest-bearing 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 18 and 19, 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, 2020 2021 (US$ in millions) Interest bearing borrowings, net of deferred financing costs $ 6,920 $ 7,820 Less: cash and cash equivalents (861) (678) restricted cash and cash equivalents (16) (16) Net debt 6,043 7,126 Total equity 1,929 888 Total capital $ 7,972 $ 8,014 Gearing ratio 75.8 % 88.9 %

Company Balance Sheet

Company Balance Sheet	12 Months Ended
Company Balance Sheet	Dec. 31, 2021
Disclosure of separate financial statements [Abstract]
Company Balance Sheet	COMPANY BALANCE SHEET December 31, 2020 2021 Notes (US$ in millions) ASSETS Non-current assets Interests in subsidiaries $ 1,144 $ 1,154 Note receivable from subsidiaries 7,782 8,651 Other assets — 2 Total non-current assets 8,926 9,807 Current assets Other receivables and prepayments 59 57 Cash and cash equivalents 6 12 Total current assets 65 69 Total assets $ 8,991 $ 9,876 EQUITY Capital and reserves attributable to equity holders of the Company Share capital $ 81 $ 81 Reserves 28(a) 1,851 1,854 Total equity 1,932 1,935 LIABILITIES Non-current liabilities Borrowings 6,920 7,820 Other payables 3 — Total non-current liabilities 6,923 7,820 Current liabilities Other payables 136 121 Total liabilities 7,059 7,941 Total equity and liabilities $ 8,991 $ 9,876 Net current liabilities $ (71) $ (52) Total assets less current liabilities $ 8,855 $ 9,755 (a) Movements of reserves Capital reserve Share premium Share-based compensation reserves Currency translation reserve Hedge reserve Retained earnings Total (US$ in millions) Balance at January 1, 2019 $ 106 $ 1,457 $ 53 $ (18) $ — $ 356 $ 1,954 Profit for the year — — — — — 1,792 1,792 Other comprehensive income for the year, net of tax — — — 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 10) — — — — — (2,054) (2,054) Balance at December 31, 2019 106 1,491 58 (14) — 97 1,738 Profit for the year — — — — — 1,120 1,120 Other comprehensive income for the year, net of tax — — — 3 — — 3 Total comprehensive income — — — 3 — 1,120 1,123 Exercise of share options — 6 — — — — 6 Transfer to share premium upon exercise of share options — 1 (1) — — — — Forfeiture of share options — — (8) — — 8 — Share-based compensation of the Company — — 9 — — — 9 Dividends to equity holders of the Company (Note 10) — — — — — (1,025) (1,025) Balance at December 31, 2020 106 1,498 58 (11) — 200 1,851 Loss for the year — — — — — (4) (4) Fair value adjustment on cash flow hedge — — — — (4) — (4) Other comprehensive loss for the year, net of tax — — — (5) — — (5) Total comprehensive expense — — — (5) (4) (4) (13) Exercise of share options — 12 — — — — 12 Transfer to share premium upon exercise of share options — 5 (5) — — — — Forfeiture of share options — — (2) — — 2 — Share-based compensation of the Company — — 4 — — — 4 Balance at December 31, 2021 $ 106 $ 1,515 $ 55 $ (16) $ (4) $ 198 $ 1,854

Principal Subsidiaries

Principal Subsidiaries	12 Months Ended
Principal Subsidiaries	Dec. 31, 2021
Disclosure of interests in other entities [Abstract]
Principal Subsidiaries	PRINCIPAL SUBSIDIARIES Details of the Group’s principal subsidiaries as at December 31, 2019, 2020 and 2021 are as follows: Name Place of incorporation or establishment/ operations and date of incorporation or establishment 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 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, operation of ferry business, and investment holding 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% 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% Name Place of incorporation or establishment/ operations and date of incorporation or establishment Principal Particulars of issued share/ Effective interests held 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)) Total par value: US$100 Total share premium: US$6,423,536.85 100% CotaiJet 312 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$6,339,957.74 100% CotaiJet 313 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$6,312,405.81 100% CotaiJet 314 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$6,486,421.42 100% CotaiJet 315 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$6,332,468.30 100% CotaiJet 316 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$6,439,507.84 100% CotaiJet 317 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$6,526,794.49 100% CotaiJet 318 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$7,936,384.02 100% CotaiJet 319 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$7,838,910.17 100% Name Place of incorporation or establishment/ operations and date of incorporation or Principal Particulars of issued share/ Effective interests held CotaiJet 320 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$6,123,939.20 100% CotaiJet 350 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$7,173,446.06 100% CotaiJet 351 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$7,115,613.37 100% CotaiJet 352 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$7,292,634.59 100% CotaiJet 353 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) 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)) 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)) 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 (Note (ii)) Cayman Islands/Macao, Holder of hotel franchise agreement US$1 100% 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% 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 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 (iii)) 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 (Note (iv)) Hong Kong, Marketing and customer development services HK$1 100% Zhuhai Cotai Information Services Outsourcing Co., Ltd.(Note (v)) China, Outsourcing services, including information technology, accounting, hotel management and marketing US$800,000 100% Name Place of incorporation or establishment/ operations and date of incorporation or Principal Particulars of issued share/ Effective interests held Zhuhai Cotai Logistics Hotel Services Co., Ltd. (Note (v), (vi)) China, Procurement, marketing and administrative services US$4,500,000 100% Zhuhai Hengqin Cotai Information Services Co., Ltd. (Note (v)) 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 were dissolved on March 31, 2020. (ii) The company was dissolved on December 31, 2020. (iii) 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. (iv) V-HK Services Limited became inactive since January 1, 2021. (v) These entities are wholly foreign owned enterprises established in China. (vi) The company was dissolved on December 20, 2021.

Significant Accounting Policies

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2021
Disclosure of significant accounting policies [Abstract]
Basis of preparation	Basis of preparation The consolidated financial statements of the Group have been prepared in accordance 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 awards and derivative financial instruments that are measured at fair value.
Changes in accounting policies and disclosures	Changes in accounting policies and disclosures During the years ended December 31, 2019, 2020 and 2021, there have been a number of new standards and amendments to standards that have come into effect, which the Group has adopted at their respective dates. Details of the adoption of the material new standard are set out below. 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. 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. 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” and lease liabilities are presented within “borrowings.” Right-of-use assets that meet the definition of “investment property” are presented within “investment properties.” 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 amendments to standards that have been issued, but are not effective for the year ended December 31, 2021. The Group has commenced the assessment of the impact of the new or amendments to standards to the Group, but is not yet in a position to state whether their adoption would have a significant impact on the results of operations and financial position of the Group.
Subsidiaries	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. Subsidiaries are fully consolidated from the date on which control is transferred to the Group and are deconsolidated from the date that control ceases. 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. All intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between the members of the Group are eliminated on consolidation. The particulars of the Group’s principal subsidiaries as at December 31, 2019, 2020 and 2021 are set out in Note 29.
Foreign currency translation	Foreign currency translation 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. Companies within the Group that have a functional currency different from the presentation currency translate their results of operations and financial position into the presentation currency based on the following: • Assets and liabilities are translated at the closing rate at balance sheet date; • Income and expenses are translated at average exchange rates during the year; and • Translation adjustments arising from this process are recognized in other comprehensive income/(expense) (currency translation differences) and will not be reclassified subsequently to profit or loss. Gains or losses from foreign currency remeasurements that arise from exchange rate fluctuations on transactions denominated in a currency other than the functional currency are included in “other expenses, gains and losses.”
Investment properties	Investment propertiesInvestment properties, principally comprising buildings and building improvements relating to mall operations, 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.
Property and equipment	Property and equipment Property and equipment, except construction-in-progress, are stated at historical cost less accumulated depreciation and accumulated impairment losses, if any. Leasehold interests in land are classified as leases and commence amortization from the time when the land interest becomes available for its intended use. Depreciation and amortization are provided on a straight-line basis over the estimated useful lives of the assets, 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 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, and are periodically reviewed. 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 requiring a change in the estimated useful lives of such assets. Maintenance and repairs that neither materially add to the value of the asset nor appreciably prolong its life are charged to expense as incurred. Gains or losses on disposition of property and equipment are included in the consolidated income statement. 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 residual values and useful lives of the assets are reviewed, and adjusted as appropriate at each balance sheet date. 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.
Intangible assets	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 on a straight-line basis over their estimated useful lives of 4 years.
Impairment of non-financial assets	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 (cash generating units or “CGU”).
Financial assets	Financial assets Classification and subsequent measurement of financial assets Financial assets that meet the following conditions are subsequently measured at amortized cost: a. the financial asset is held within a business model whose objective is to collect contractual cash flows; and b. 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: a. the financial asset is held within a business model whose objective is achieved by both collecting contractual cash flows and selling; and b. 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. The Group’s financial assets primarily consist of cash and cash equivalents, restricted cash and cash equivalents, trade and other receivables and derivative financial instruments. 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. Impairment of financial assets The Group recognizes a loss allowance for expected credit losses (“ECL”) on trade and other receivables which are subject to impairment under IFRS 9 Financial Instruments . 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; or 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. 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 and 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 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 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.
Cash and cash equivalents	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.
Share capital	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.
Financial liabilities	Financial liabilitiesThe Group’s financial liabilities consists of primarily borrowings and trade and other payables, are initially measured at fair value and subsequently measured at amortized cost, using the effective interest method. The Group’s financial liabilities also may include derivative financial instruments (if any) which are measured at fair value. Derecognition/substantial modification of financial liabilities The Group derecognizes financial liabilities when, and only when, the Group’s obligations are discharged, cancelled 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 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.
Trade payables	Trade payables Trade payables are obligations to pay for goods or services acquired in the ordinary course of business from suppliers. Trade payables 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.
Borrowings and financing costs	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. Financing costs incurred for the construction of any qualifying asset which takes a substantial period of time to get ready for its intended use, 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. 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.
Deferred income tax	Current and deferred income tax and gaming tax 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.
Current income tax	Current and deferred income tax and gaming tax 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.
Gaming tax	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.
Employee benefits	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 fund management entities and are defined contribution plans. The Group has no further payment obligations once the contributions have been paid to the Schemes managed by fund management entities. 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. (ii) Share-based compensation Equity-settled share-based payment transactions Share-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized over the employee's requisite service period (generally the vesting period of the equity grant). When the options of the 2009 Equity Award Plan and 2019 Equity Award Plan are exercised, the Company issues new shares. 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. The Group recognizes the impact of revisions to the original estimates, if any, in the consolidated income statement, with a corresponding adjustment to equity. Share-based compensation expense arising from the granting of share options and restricted share units 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. 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) 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. Unused compensation leave earned by employee is accrued. (iv) 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. (v) 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.
Contingent liabilities	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.
Recognition of revenue	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 gaming promoters 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. 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. Cancellation fees for convention contracts are recognized upon cancellation 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.
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.
Leases/right-of-use	Leases/right-of-use As the lessee for leases 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. 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. 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” and lease liabilities are presented within “borrowings”. Right-of-use assets that meet the definition of “investment property” are presented within “investment properties”. 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, 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. As the lessor/grantor for leases/right-of-use 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. When the legal system in which the Group operates contains a legal provision governing the change in circumstances which adversely impacts the performance of the lessee or the lessor due to a force majeure event, or a lease contract contains a specific clause that provides for rent reduction or suspension of rent in the event that the underlying assets (or any part thereof) are affected by adverse events beyond the control of the Group and the lessee so as to render the underlying assets unfit or not available for use, the relevant rent reduction or suspension of rent resulting from the relevant legal provision or the specific clause is accounted for as part of the original lease and not as a lease modification. The Group recognizes such rent reduction or suspension of rent in profit or loss in the period in which the event or condition that triggers those payments to occur.
Provisions	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

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
Summary of Significant Accounting Policies (Tables)	Dec. 31, 2021
Disclosure of significant accounting policies [Abstract]
Estimated useful lives of assets	Depreciation and amortization are provided on a straight-line basis over the estimated useful lives of the assets, 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

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
Segment Information (Tables)	Dec. 31, 2021
Disclosure of entity's operating segments [Abstract]
Disclosure of operating segments	Revenue disaggregated by type of revenue and property is as follows: Casino Rooms Mall (ii),(iii) Food and beverage Convention, ferry, retail and other Net revenues (US$ in millions) Year ended December 31, 2019 The Venetian Macao $ 2,875 $ 222 $ 254 $ 73 $ 86 $ 3,510 The Londoner Macao 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 Year ended December 31, 2020 The Venetian Macao $ 531 $ 46 $ 126 $ 14 $ 21 $ 738 The Londoner Macao 192 42 38 17 8 297 The Parisian Macao 180 33 27 14 5 259 The Plaza Macao 159 17 79 9 1 265 Sands Macao 107 6 1 5 1 120 Ferry and other operations — — — — 21 21 Inter-segment revenues (i) — — (2) — (11) (13) $ 1,169 $ 144 $ 269 $ 59 $ 46 $ 1,687 Year ended December 31, 2021 The Venetian Macao $ 944 $ 77 $ 195 $ 24 $ 16 $ 1,256 The Londoner Macao 396 90 56 30 16 588 The Parisian Macao 244 54 39 17 3 357 The Plaza Macao 298 45 184 17 2 546 Sands Macao 105 10 1 5 1 122 Ferry and other operations — — — — 20 20 Inter-segment revenues (i) — — (2) — (13) (15) $ 1,987 $ 276 $ 473 $ 93 $ 45 $ 2,874 (i) Inter-segment revenues are charged at prevailing market rates. (ii) Of this amount, US$456 million and US$75 million for the year ended December 31, 2019, US$199 million and US$70 million for the year ended December 31, 2020, and US$410 million and US$63 million for the year ended December 31, 2021 were 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 and all other revenues are recognized in accordance with IFRS 15 Revenue from contracts with customers . (iii) For the years ended December 31, 2020 and 2021, rent concessions of US$215 million and US$41 million, respectively, were provided to tenants as a result of the COVID-19 Pandemic and the impact on mall operations. The following is a reconciliation of adjusted property EBITDA to profit/(loss) for the year attributable to equity holders of the Company: Year ended December 31, 2019 2020 2021 Notes (US$ in millions) Adjusted property EBITDA (Unaudited) (i) The Venetian Macao $ 1,407 $ (53) $ 297 The Londoner Macao 726 (184) (84) The Parisian Macao 544 (131) (17) The Plaza Macao 345 33 219 Sands Macao 175 (76) (69) Ferry and other operations (4) (17) (5) Total Adjusted property EBITDA 3,193 (428) 341 Share-based compensation, net of amount capitalized (ii) (14) (15) (10) Corporate expense (iii) 4(a) (129) (45) (68) Pre-opening expense 4(b) (23) (11) (11) Depreciation and amortization (706) (684) (733) Net foreign exchange gains/(losses) 6 35 17 (38) Impairment loss on property and equipment 3(d) (65) — — Fair value gain on derivative financial instruments — — 1 Loss on disposal of property and equipment, investment properties and intangible assets 6 (16) (73) (19) Operating profit/(loss) 2,275 (1,239) (537) Interest income 38 11 2 Finance costs, net of amounts capitalized (280) (279) (373) Loss on early retirement of debt — — (137) Profit/(loss) before income tax 2,033 (1,507) (1,045) Income tax expense — (16) (3) Profit/(loss) for the year attributable to equity holders of the Company $ 2,033 $ (1,523) $ (1,048) (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 comprised of US$13 million, US$9 million and US$5 million equity-settled share-based payment expense, net of amounts capitalized and US$1 million, US$6 million and US$5 million cash-settled share-based payment expense, net of amounts capitalized for the years ended December 31, 2019, 2020 and 2021, respectively. (iii) The share-based payment expense for exclusion in the above corporate expense was negligible for the year ended December 31, 2019. The share-based payment expenses excluded for the years ended December 31, 2020, and 2021 were US$2 million and US$1 million, respectively, (a) Corporate expense Year ended December 31, 2019 2020 2021 Note (US$ in millions) Royalty fees 25(a)(v) $ 110 $ 22 $ 42 Management fees 5 4 4 Employee benefit expenses 7 10 11 Other support services 4 3 4 Other expenses 3 6 7 $ 129 $ 45 $ 68 (b) Pre-opening expense Year ended December 31, 2019 2020 2021 (US$ in millions) Employee benefit expenses $ 9 $ 4 $ 5 Advertising and promotions 9 2 2 Contract labor and services 3 2 1 Utilities and operating supplies — 2 1 Other support services 1 — — Other expenses 1 1 2 $ 23 $ 11 $ 11 Year ended December 31, 2019 2020 2021 (US$ in millions) Depreciation and amortization The Venetian Macao $ 159 $ 181 $ 191 The Londoner Macao 299 230 273 The Parisian Macao 161 163 145 The Plaza Macao 40 71 84 Sands Macao 27 27 24 Ferry and other operations 20 12 16 $ 706 $ 684 $ 733 Year ended December 31, 2019 2020 2021 (US$ in millions) Capital expenditures The Venetian Macao $ 131 $ 140 $ 71 The Londoner Macao 276 721 538 The Parisian Macao 32 11 4 The Plaza Macao 296 156 19 Sands Macao 16 8 7 Ferry and other operations 3 2 1 $ 754 $ 1,038 $ 640 December 31, 2020 2021 (US$ in millions) Total assets The Venetian Macao $ 2,438 $ 2,079 The Londoner Macao 4,324 4,519 The Parisian Macao 2,138 1,981 The Plaza Macao 1,219 1,161 Sands Macao 319 252 Ferry and other operations 110 102 $ 10,548 $ 10,094

Employee Benefits Expenses (I_2

Employee Benefits Expenses (Including Directors' Emoluments) (Tables)	12 Months Ended
	Dec. 31, 2021
Disclosure of employee benefits [Abstract]
Employee Benefits Expense	Year ended December 31, 2019 2020 2021 (US$ in millions) Wages, salaries, bonus and termination costs $ 1,145 $ 919 $ 930 Staff meals 57 46 45 Pension costs — defined contribution plan 40 35 36 Share-based compensation, net of amount capitalized (i) 14 15 10 Other employee benefit expenses 36 35 28 $ 1,292 $ 1,050 $ 1,049 (i) Share-based compensation of US$1 million, US$1 million and less than US$1 million was capitalized during the years ended December 31, 2019, 2020 and 2021, respectively. For further information related to the Company’s equity award plan and LVS’ equity award plan, see Note 26 to the consolidated financial statements.
Directors' Emoluments	Fees Salaries and other allowances Discretionary bonuses (i) Pension costs Estimated monetary value of other benefits (ii) Total (US$ in thousands) Year ended December 31, 2019 Executive Directors Sheldon Gary Adelson (iii) $ — $ — $ — $ — $ — $ — Wong Ying Wai — 2,350 1,502 117 618 4,587 Non-Executive Directors Robert Glen Goldstein (iv) — — — — — — 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 Fees Salaries and other allowances Discretionary bonuses (i) Pension costs Estimated monetary value of other benefits (ii) Total (US$ in thousands) Year ended December 31, 2020 Executive Directors Sheldon Gary Adelson (iii) $ — $ — $ — $ — $ — $ — Wong Ying Wai — 2,724 — 136 2,832 5,692 Non-Executive Directors Robert Glen Goldstein (iv) — — — — — — Charles Daniel Forman 200 — — — — 200 Independent Non-Executive Directors Chiang Yun 200 — — — — 200 Victor Patrick Hoog Antink 230 — — — — 230 Steven Zygmunt Strasser 230 — — — — 230 Kenneth Patrick Chung 200 — — — — 200 $ 1,060 $ 2,724 $ — $ 136 $ 2,832 $ 6,752 Fees Salaries and other allowances Discretionary bonuses (i) Pension costs Estimated monetary value of other benefits (ii) Total (US$ in thousands) Year ended December 31, 2021 Executive Directors Sheldon Gary Adelson (iii) $ — $ — $ — $ — $ — $ — Robert Glen Goldstein (iv) — — — — — — Wong Ying Wai — 3,000 — 150 1,020 4,170 Chum Kwan Lock, Grant (v) — 2,732 — 87 1,163 3,982 Non-Executive Director Charles Daniel Forman 200 — — — — 200 Independent Non-Executive Directors Chiang Yun 221 — — — — 221 Victor Patrick Hoog Antink 230 — — — — 230 Steven Zygmunt Strasser 230 — — — — 230 Kenneth Patrick Chung 200 — — — — 200 $ 1,081 $ 5,732 $ — $ 237 $ 2,183 $ 9,233 (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 options and restricted share units under the Equity Award Plan, accommodation, meals, home visit travel costs and medical insurance. The value of share options and restricted share units granted to the Directors represents the amount recognized as an expense during the year in accordance with IFRS 2 Share-based payment . (iii) Sheldon Gary Adelson took a medical leave of absence from his positions as the Chairman, Chief Executive Officer and the Chairman of the Nomination Committee of the Company and was re-designated as a Non-Executive Director of the Company, in each case, with effect from January 7, 2021. Mr. Adelson passed away in the United States on January 11, 2021. (iv) Robert Glen Goldstein was appointed as the Acting Chairman, Acting Chief Executive Officer, the Acting Chairman of the Nomination Committee, and was re-designated as an Executive Director of the Company, in each case, with effect from January 7, 2021. Subsequently he was appointed as the Chairman of the Board, the Chief Executive Officer and the Chairman of the Nomination Committee of the Company, in each case, with effect from January 27, 2021. (v) Chum Kwan Lock, Grant was appointed as the Executive Director of the Company with effect from January 7, 2021.
Emoluments for Non-Director Highest Paid Individuals	The emoluments of the remaining four individuals for the years ended December 31, 2019 and 2020, and the remaining three individuals for the year ended December 31, 2021, were as follows: Year ended December 31, 2019 2020 2021 (US$ in thousands) Basic salaries, allowances and benefits in kind $ 4,720 $ 6,530 $ 4,874 Discretionary bonus 3,858 — — Share-based compensation (i) 781 2,846 1,415 Pension costs 219 206 132 $ 9,578 $ 9,582 $ 6,421 (i) The value of share options and restricted share units granted to the individuals represents the amount recognized as an expense during the year in accordance with IFRS 2 Share-based payment .
Number of Non-Director Highest Paid Individuals	The emoluments of the above mentioned individuals fall within the following bands: Year ended December 31, 2019 2020 2021 Range in HK$ Range in US$ equivalent (i) (Number of individuals) 10,500,001 – 11,000,000 1,346,000 – 1,410,000 — 1 — 13,500,001 – 14,000,000 1,731,000 – 1,795,000 — 1 — 15,500,001 – 16,000,000 1,987,000 – 2,051,000 — — 1 16,000,001 – 16,500,000 2,051,000 – 2,116,000 2 — 1 17,500,001 – 18,000,000 2,244,000 – 2,308,000 1 1 — 18,000,001 – 18,500,000 2,308,000 – 2,372,000 — — 1 24,500,001 – 25,000,000 3,141,000 – 3,205,000 1 — — 32,000,001 – 32,500,000 4,103,000 – 4,167,000 — 1 — 4 4 3 (i) The translation of HK$ amounts into US$ amounts has been made at the exchange rate on December 31, 2021 of US$1.00 to HK$7.7994 for the purposes of illustration only.

Other Expenses, Gains and Los_2

Other Expenses, Gains and Losses (Tables)	12 Months Ended
Other Expenses, Gains and Losses (Tables)	Dec. 31, 2021
Analysis of income and expense [abstract]
Operating expenses	Year ended December 31, 2019 2020 2021 Notes (US$ in millions) Utilities and operating supplies $ 195 $ 116 $ 144 Contract labor and services 152 65 70 Repairs and maintenance 85 65 64 Royalty fees 25(a)(v) 113 22 43 Advertising and promotions 129 27 42 Management fees (i) 47 16 19 Provision for expected credit losses, net 24 52 3 Auditor's remuneration 2 2 2 Lease payments exempted from recognition and variable lease payments 13(c) 8 3 1 Net foreign exchange (gains)/losses (35) (17) 38 Loss on disposal of property and equipment, investment properties and intangible assets (ii) 16 73 19 Impairment loss on property and equipment (iii) 3(d) 65 — — Fair value gain on derivative financial instruments 22 — — (1) Other support services 101 58 62 Other operating expenses 115 62 72 $ 1,017 $ 544 $ 578 (i) Total management fees for the years ended December 31, 2019, 2020 and 2021 included US$24 million, US$3 million and US$3 million charged by third parties and US$23 million, US$13 million and US$16 million charged by related parties, net of amounts capitalized, respectively. Refer to Note 25(a)(ii) for further information. (ii) Loss on disposal of property and equipment, investment properties and intangible assets for the years ended December 31, 2020 and 2021 included demolition cost of US$34 million and US$11 million, respectively, primarily related to The Londoner Macao project. (iii) 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(d).

Finance Costs, Net of Amounts_2

Finance Costs, Net of Amounts Capitalized (Tables)	12 Months Ended
Finance Costs, Net of Amounts Capitalized (Tables)	Dec. 31, 2021
Disclosure of interest expense [Abstract]
Finance costs	Year ended December 31, 2019 2020 2021 (US$ in millions) Interest costs Senior Notes $ 253 $ 260 $ 331 Bank borrowings — 2 12 Lease liabilities 8 8 8 Amortization of deferred financing costs 15 17 23 Standby fee and other financing costs 13 13 13 289 300 387 Less: interest capitalized (9) (21) (14) $ 280 $ 279 $ 373

Income Tax Benefit)_Expense (Ta

Income Tax Benefit)/Expense (Tables)	12 Months Ended
Income Tax Benefit)/Expense (Tables)	Dec. 31, 2021
Major components of tax expense (income) [abstract]
Components of income tax expense (benefit)	Year ended December 31, 2019 2020 2021 (US$ in millions) Current income tax Lump sum in lieu of Macao complementary tax on dividends $ 5 $ 5 $ 5 Deferred income tax (benefit)/expense (5) 11 (2) $ — $ 16 $ 3
Effective income tax rate reconciliation	The tax on the Group’s profit/(loss) before income tax differs from the theoretical amount that would arise using the domestic tax rates applicable to the consolidated entities in the respective jurisdictions as follows: Year ended December 31, 2019 2020 2021 (US$ in millions) Profit/(loss) before income tax $ 2,033 $ (1,507) $ (1,045) Tax calculated at domestic rates applicable in the respective jurisdictions 261 (174) (121) Tax effects of : Income not subject to tax (i) (966) (247) (365) Expenses not deductible for tax purposes (i), (ii) 603 271 332 Amortization of pre-opening expenses previously not recognized (1) (2) (2) Origination and reversal of temporary differences, net 4 5 — Tax losses for which no deferred income tax assets were recognized 95 158 154 Lump sum in lieu of Macao complementary tax on dividends 5 5 5 Other (1) — — Income tax expense $ — $ 16 $ 3 (i) During the three years ended December 31, 2021, VML was exempt from Macao complementary tax on its gaming activities (see also Note 8(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. Additionally, for the years ended December 31, 2019 and 2020, the Company received dividend income from a subsidiary. The dividend income is not subject to Hong Kong profits tax. (ii) 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 Sands Macao expired in August 2012, for The Venetian Macao in August 2019, with exception of its casino area which expired in August 2013, and for The Plaza Macao in August 2020. The exemptions for The Londoner Macao and The Parisian Macao will be expiring in December 2027 and September 2028, respectively. Regarding The Grand Suites at Four Seasons, under the initial exemption, it has an exemption with expiration date of April 2019. The Group is currently working on obtaining the second exemption for The Grand Suites at Four Seasons.

Earnings_(Loss) Per Share (Tabl

Earnings/(Loss) Per Share (Tables)	12 Months Ended
Earnings/(Loss) Per Share (Tables)	Dec. 31, 2021
Earnings/(Loss) per share [Abstract]
Earnings/(Loss) Per Share	The calculation of basic and diluted earnings/(loss) per share are set out in the following: Year ended December 31, 2019 2020 2021 Profit/(loss) attributable to equity holders of the Company (US$ in millions) $ 2,033 $ (1,523) $ (1,048) Weighted average number of shares for basic earnings/(loss) per share (thousand shares) 8,085,149 8,089,202 8,092,597 Adjustments for share options (thousand shares) (i) 5,057 — — Weighted average number of shares for diluted earnings/(loss) per share (thousand shares) 8,090,206 8,089,202 8,092,597 Earnings/(loss) per share, basic (ii) US25.14 cents (US18.82 cents) (US12.95 cents) HK195.79 cents (HK145.90 cents) (HK101.00 cents) Earnings/(loss) per share, diluted (ii) US25.13 cents (US18.82 cents) (US12.95 cents) HK195.71 cents (HK145.90 cents) (HK101.00 cents) (i) The computation of the diluted loss per share for the years ended December 31, 2020 and 2021 did not assume the exercise of the Company's share options because the exercise would result in a decrease in loss per share. (ii) The translation of US$ amounts into HK$ amounts has been made at the exchange rate on December 31, 2019, 2020 and 2021 of US$1.00 to HK$7.7879, US$1.00 to HK$7.7526 and US$1.00 to HK$7.7994, respectively.

Dividends (Tables)

Dividends (Tables)	12 Months Ended
Dividends (Tables)	Dec. 31, 2021
Disclosure of dividends [Abstract]
Disclosure of dividends	Dividend payments made during the year were as follows: Year ended December 31, 2019 2020 2021 (US$ in millions) 2018 interim dividend of HK$0.99 (equivalent to US$0.127) per ordinary share declared on January 18, 2019 and paid (i) $ 1,023 $ — $ — 2018 final dividend of HK$1.00 (equivalent to US$0.127) per ordinary share declared on May 24, 2019 and paid (i) 1,031 — — 2019 interim dividend of HK$0.99 (equivalent to US$0.127) per ordinary share declared on January 17, 2020 and paid (i) — 1,025 — $ 2,054 $ 1,025 $ — (i) The 2018 interim and final dividend and the 2019 interim dividend were not recognized as a liability as at December 31, 2018 and 2019, respectively. They were reflected as appropriation of reserves during 2019 and 2020, respectively.

Investment Properties, Net (Tab

Investment Properties, Net (Tables)	12 Months Ended
Investment Properties, Net (Tables)	Dec. 31, 2021
Disclosure of detailed information about investment property [abstract]
Disclosure of detailed information about investment property	2020 2021 (US$ in millions) Cost At January 1 $ 1,004 $ 990 Additions 7 20 Adjustments to project costs (3) — Disposals (24) (3) Transfers from property and equipment 2 129 Exchange difference 4 (6) At December 31 $ 990 $ 1,130 Accumulated depreciation At January 1 $ (417) $ (447) Depreciation (52) (52) Disposals 24 3 Exchange difference (2) 3 At December 31 $ (447) $ (493) Carrying amount At December 31 $ 543 $ 637
Fair value of investment properties	Valuations based on income and an open market value approach for all completed properties are as follows: December 31, 2020 2021 (US$ in millions) Fair value of the investment properties $ 7,686 $ 7,999
Disclosure of income statement amounts related to investment properties	Year ended December 31, 2019 2020 2021 (US$ in millions) Mall income $ 531 $ 269 $ 473 Direct operating expenses arising from investment properties that generate right-of-use income $ 50 $ 37 $ 34 Direct operating expenses that did not generate right-of-use income $ 5 $ 6 $ 11
Leasing arrangements	The future aggregate minimum lease/base fee receivables under non-cancelable agreements are as follows: December 31, 2020 2021 (US$ in millions) No later than 1 year $ 334 $ 300 1 to 2 years 244 229 2 to 3 years 178 174 3 to 4 years 140 117 4 to 5 years 113 105 Later than 5 years 407 308 $ 1,416 $ 1,233

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	12 Months Ended
Property and Equipment, Net (Tables)	Dec. 31, 2021
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) Cost At January 1, 2020 $ 675 $ 399 $ 9,377 $ 7 $ 63 $ 252 $ 2,082 $ 494 $ 13,349 Additions 1 — 9 2 29 — 47 1,024 1,112 Adjustments to project costs (2) (7) 4 — — — (2) — (7) Disposals — (24) (127) (2) (26) — (58) (2) (239) Transfers (i) — 2 583 — — — 156 (743) (2) Exchange difference — 2 44 — — — 10 1 57 At December 31, 2020 $ 674 $ 372 $ 9,890 $ 7 $ 66 $ 252 $ 2,235 $ 774 $ 14,270 Accumulated depreciation and impairment At January 1, 2020 $ (135) $ (156) $ (3,042) $ (6) $ (27) $ (207) $ (1,415) $ — $ (4,988) Depreciation (13) (6) (404) (1) (11) (5) (174) — (614) Disposals — 22 95 2 12 — 55 — 186 Exchange difference — (1) (14) — — — (7) — (22) At December 31, 2020 $ (148) $ (141) $ (3,365) $ (5) $ (26) $ (212) $ (1,541) $ — $ (5,438) Carrying amount At December 31, 2020 $ 526 $ 231 $ 6,525 $ 2 $ 40 $ 40 $ 694 $ 774 $ 8,832 Cost At January 1, 2021 $ 674 $ 372 $ 9,890 $ 7 $ 66 $ 252 $ 2,235 $ 774 $ 14,270 Additions — — 2 — 2 — 27 485 516 Adjustments to project costs — — (9) — (2) — (8) — (19) Disposals — — (44) — — — (35) (4) (83) Transfers (i) — — 859 — — — 128 (1,116) (129) Exchange difference — (2) (64) — — — (13) (1) (80) At December 31, 2021 $ 674 $ 370 $ 10,634 $ 7 $ 66 $ 252 $ 2,334 $ 138 $ 14,475 Accumulated depreciation and impairment At January 1, 2021 $ (148) $ (141) $ (3,365) $ (5) $ (26) $ (212) $ (1,541) $ — $ (5,438) Depreciation (13) (4) (439) (1) (11) (5) (189) — (662) Disposals — — 38 — — — 34 — 72 Exchange difference — — 21 — — — 9 — 30 At December 31, 2021 $ (161) $ (145) $ (3,745) $ (6) $ (37) $ (217) $ (1,687) $ — $ (5,998) Carrying amount At December 31, 2021 $ 513 $ 225 $ 6,889 $ 1 $ 29 $ 35 $ 647 $ 138 $ 8,477 (i) During the years ended December 31, 2020 and 2021, the net transfers to investment properties were US$2 million and US$129 million, respectively.

Leases (Tables)

Leases (Tables)	12 Months Ended
Leases (Tables)	Dec. 31, 2021
Disclosure of quantitative information about leases for lessee [abstract]
Disclosure of quantitative information about right-of-use assets	The movements of right-of-use assets included within "Property and equipment, net" and "Investment properties, net" for the year are as follows: Property and equipment, net - Leasehold interests in land Investment properties, net - Leasehold interests in land Property and equipment, net - Other Total Right-of-use assets (US$ millions) Cost At January 1, 2020 $ 675 $ 56 $ 32 $ 763 Additions 1 — 25 26 Adjustments to costs (2) — — (2) Disposals — — (17) (17) At December 31, 2020 $ 674 $ 56 $ 40 $ 770 Accumulated depreciation At January 1, 2020 $ (135) $ (13) $ (11) $ (159) Depreciation (13) (1) (13) (27) Disposals — — 3 3 At December 31, 2020 $ (148) $ (14) $ (21) $ (183) Carrying amount At December 31, 2020 $ 526 $ 42 $ 19 $ 587 Cost At January 1, 2021 $ 674 $ 56 $ 40 $ 770 Additions — — 9 9 Disposals — — (7) (7) At December 31, 2021 $ 674 $ 56 $ 42 $ 772 Accumulated depreciation At January 1, 2021 (148) (14) (21) (183) Depreciation (13) (1) (11) (25) Disposals — — 7 7 At December 31, 2021 $ (161) $ (15) $ (25) $ (201) Carrying amount At December 31, 2021 $ 513 $ 41 $ 17 $ 571
Disclosure of quantitative information about lease liabilities	December 31, 2020 2021 (US$ in millions) Current liabilities — Borrowings $ 21 $ 17 Non-current liabilities — Borrowings 124 124 Total lease liabilities $ 145 $ 141
Disclosure of Depreciation on Right of Use Assets and Interest on Lease Liabilities	Year ended December 31, 2019 2020 2021 (US$ in millions) Depreciation charge of right-of-use assets: Property and equipment, net — Leasehold interests in land $ 12 $ 13 $ 13 Property and equipment, net — Other 9 13 11 Investment properties, net — Leasehold interests in land 1 1 1 $ 22 $ 27 $ 25 Interest expense on lease liabilities $ 8 $ 8 $ 8 Expense relating to short-term leases exempted from recognition 2 1 1 Expense relating to low-value items exempted from recognition 1 1 — Expense relating to variable lease payments 5 1 — $ 38 $ 38 $ 34

Intangible Assets, Net (Tables)

Intangible Assets, Net (Tables)	12 Months Ended
Intangible Assets, Net (Tables)	Dec. 31, 2021
Disclosure of detailed information about intangible assets [abstract]
Disclosure of intangible assets	Computer software 2020 2021 (US$ in millions) Cost At January 1 $ 130 $ 141 Additions 11 16 At December 31 $ 141 $ 157 Accumulated amortization At January 1 $ (82) $ (100) Amortization (18) (19) At December 31 $ (100) $ (119) Carrying amount At December 31 $ 41 $ 38

Deferred Income Tax Liabiliti_2

Deferred Income Tax Liabilities (Tables)	12 Months Ended
Deferred Income Tax Liabilities (Tables)	Dec. 31, 2021
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, 2020 $ (45) Charge for the year (11) At December 31, 2020 (56) Credit for the year 2 At December 31, 2021 $ (54)
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, 2020 2021 (US$ in millions) Arising from unused tax losses $ 346 $ 421 Arising from pre-opening expenses 3 1 $ 349 $ 422

Trade and Other Receivables a_2

Trade and Other Receivables and Prepayments, Net (Tables)	12 Months Ended
Trade and Other Receivables and Prepayments, Net (Tables)	Dec. 31, 2021
Trade and other receivables [abstract]
Disclosure of detailed information about trade and other receivables and prepayments	December 31, 2020 2021 Note (US$ in millions) Trade receivables $ 257 $ 241 Less: provision for expected credit losses (137) (125) Trade receivables, net 16(a) 120 116 Deferred rent 69 73 Less: amortization of deferred rent (42) (42) provision for doubtful deferred rent (2) (2) Prepayments 52 49 Other receivables 11 13 Trade and other receivables and prepayments, net 208 207 Less: non-current portion: deferred rent (13) (17) prepayments and other receivables (5) (7) (18) (24) Current portion $ 190 $ 183
Trade receivables aging	The aging analysis of trade receivables, net of provision for expected credit losses, is as follows: December 31, 2020 2021 (US$ in millions) 0 - 30 days $ 89 $ 90 31 - 60 days 9 7 61 - 90 days 5 2 Over 90 days 17 17 $ 120 $ 116
Disclosure of credit risk exposure	The following table provides information about the exposure to credit risk for trade receivables which were assessed based on provision matrix as at December 31, 2020 and 2021 within lifetime ECL. December 31, 2020 2021 Provision matrix – debtors' aging Expected loss rate (US$ in millions) Current (not past due) — $ 53 $ 17 1 — 90 days past due 2 % — 10% 16 10 91 — 360 days past due 15 % — 25% 6 4 More than 360 days past due 50 % — 100% 52 75 $ 127 $ 106
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, 2020 2021 (US$ in millions) At beginning of year $ 106 $ 137 Provision for expected credit losses, net 50 1 Amounts written-off (19) (13) At end of year $ 137 $ 125

Cash and Cash Equivalents (Tabl

Cash and Cash Equivalents (Tables)	12 Months Ended
Cash and Cash Equivalents (Tables)	Dec. 31, 2021
Cash and cash equivalents [abstract]
Disclosure of detailed information about cash and cash equivalents	December 31, 2020 2021 (US$ in millions) Cash at bank and on hand $ 532 $ 316 Short-term bank deposits 329 362 $ 861 $ 678

Share Capital (Tables)

Share Capital (Tables)	12 Months Ended
Share Capital (Tables)	Dec. 31, 2021
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 Authorized At January 1, 2019, December 31, 2019, December 31, 2020 and December 31, 2021 16,000,000,000 $ 160 Issued and fully paid At January 1, 2019 8,080,603,691 $ 81 Shares issued upon exercise of share options 7,748,525 — At December 31, 2019 8,088,352,216 81 Shares issued upon exercise of share options 1,766,550 — At December 31, 2020 8,090,118,766 81 Shares issued upon exercise of share options 3,070,100 — At December 31, 2021 8,093,188,866 $ 81

Trade and Other Payables (Table

Trade and Other Payables (Tables)	12 Months Ended
Trade and Other Payables (Tables)	Dec. 31, 2021
Trade and other payables [abstract]
Disclosure of detailed information about trade and other payables	December 31, Notes 2020 2021 (US$ in millions) Trade payables 20(a) $ 51 $ 31 Customer deposits and other deferred revenue 20(b) 412 401 Construction payables and accruals 316 188 Interest payables 156 141 Accrued employee benefit expenses 136 134 Other tax payables 118 115 Outstanding chip liability 20(b) 189 65 Loyalty program liability 20(b) 28 26 Casino liabilities 22 21 Payables to related companies 25(b) 3 5 Other payables and accruals 62 56 1,493 1,183 Less: non-current portion (105) (112) Current portion $ 1,388 $ 1,071
Trade payables aging	The aging analysis of trade payables based on invoice date is as follows: December 31, 2020 2021 (US$ in millions) 0 — 30 days $ 31 $ 22 31 — 60 days 15 7 61 — 90 days 3 1 Over 90 days 2 1 $ 51 $ 31
Contract and contract related liabilities	The following table summarizes the liability activity related to contracts with customers: Outstanding Chip Liability Loyalty Program Liability Customer Deposits and Other Deferred Revenue (i) 2020 2021 2020 2021 2020 2021 (US$ in millions) Balance at January 1 $ 485 $ 189 $ 31 $ 28 $ 395 $ 412 Balance at December 31 189 65 28 26 412 401 (Decrease)/increase (ii) $ (296) $ (124) $ (3) $ (2) $ 17 $ (11) (i) Of this amount, US$129 million, US$125 million and US$118 million as at January 1, 2020, December 31, 2020, and December 31, 2021, respectively, related to mall deposits that were accounted for based on lease terms usually greater than one year. (ii) The decrease noted in outstanding chip liability in 2021 primarily resulted from the closure of the fixed room junket operations in December 2021.

Borrowings (Tables)

Borrowings (Tables)	12 Months Ended
Borrowings (Tables)	Dec. 31, 2021
Disclosure of detailed information about borrowings [abstract]
Disclosure of detailed information about borrowings	December 31, 2020 2021 (US$ in millions) Non-current portion Senior Notes $ 7,000 $ 7,150 Bank loans — 753 Lease liabilities 124 124 Other borrowings — 2 7,124 8,029 Less: deferred financing costs (80) (83) 7,044 7,946 Current portion Lease liabilities 21 17 Other borrowings — $ 1 21 $ 18 Total borrowings $ 7,065 $ 7,964
Disclosure of reconciliation of liabilities arising from financing activities	Senior Notes (i) Bank loans (ii) Lease liabilities Deferred financing costs Net interest payables (iii) Other borrowings Dividend payables Total (US$ in millions) Balance as at January 1, 2020 $ 5,535 $ — $ 147 $ (74) $ 83 $ — $ — $ 5,691 Financing cash flows 1,496 (1) (11) (20) (209) — (1,030) 225 Non-cash changes: Original issue discount 4 — — (4) — — — — Accruals — — 9 — 282 — 1,025 1,316 Amortization — — — 17 — — — 17 Foreign exchange movement — 1 — 1 — — 5 7 Fair value adjustment of the interest rate swaps (35) — — — — — — (35) Balance as at December 31, 2020 $ 7,000 $ — $ 145 $ (80) $ 156 $ — $ — $ 7,221 Financing cash flows 146 756 (12) (27) (378) — — 485 Non-cash changes: Original issue discount 4 — — (4) — — — — Accruals — — 8 (1) 364 3 — 374 Amortization — — — 23 — — — 23 Loss on early retirement of debt — — — 6 — — — 6 Foreign exchange movement — (3) — — (1) — — (4) Balance as at December 31, 2021 $ 7,150 $ 753 $ 141 $ (83) $ 141 $ 3 $ — $ 8,105 (i) During the year ended December 31, 2021, cash flows from Senior Notes consisted of proceeds from Senior Notes of US$1.95 billion and repayment of 2023 Notes of US$1.80 billion. (ii) Cash flows from bank loans were net of proceeds and repayments in the statement of cash flows. (iii) As at January, 2020, net interest payables represented the net of interest payables and interest rate swap receivables. During the year ended December 31, 2020, cash flows from net interest payables represented the net of interest income received from interest rate swaps and interest payment made. The interest rate swaps expired in August 2020.

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, 2021
Statement of cash flows [abstract]
Cash (used in)/generated from operations	Cash generated from/(used in) operations is as follows: Year ended December 31, 2019 2020 2021 (US$ in millions) Profit/(loss) before income tax $ 2,033 $ (1,507) $ (1,045) Adjustments for: Interest income (38) (11) (2) Interest and other finance costs 265 261 350 Depreciation and amortization 706 684 733 Amortization of deferred financing costs 15 17 23 Amortization of deferred rent 13 9 10 Amortization of other assets 3 3 3 Loss on disposal of property and equipment, investment properties and intangible assets 16 39 8 Impairment loss on property and equipment 65 — — Loss on early retirement of debt — — 137 Provision for expected credit losses, net 24 52 3 Equity-settled share-based compensation expense, net of amounts capitalized 13 9 5 Fair value gain on derivative financial instruments — — (1) Net foreign exchange (gains)/losses (34) (18) 36 Changes in working capital: Other assets (5) — 3 Inventories (2) 2 — Trade and other receivables and prepayments (65) 216 (11) Trade and other payables (191) (567) (159) Cash generated from/(used in) operations $ 2,818 $ (811) $ 93

Commitments and Contingencies (

Commitments and Contingencies (Tables)	12 Months Ended
Commitments and Contingencies (Tables)	Dec. 31, 2021
Commitments and contingencies [Abstract]
Capital commitments	Significant capital expenditure on property and equipment contracted for at the end of the reporting period but not recognized as liabilities is as follows: December 31, 2020 2021 (US$ in millions) Contracted but not provided for $ 385 $ 75

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
Related Party Transactions (Tables)	Dec. 31, 2021
Disclosure of transactions between related parties [abstract]
Management fee income	Management fee income Year ended December 31, 2019 2020 2021 (US$ in millions) LVS $ — $ — $ 1 Fellow subsidiaries 5 4 3 $ 5 $ 4 $ 4
Management fee expense	Management fee cost Year ended December 31, 2019 2020 2021 (US$ in millions) LVS $ 19 $ 10 $ 16 Fellow subsidiaries 7 3 5 $ 26 $ 13 $ 21
Related party balances	Year-end balances between the Group and related companies December 31, 2020 2021 (US$ in millions) Receivables from a related company: LVS $ 1 $ — The receivables from a related company are unsecured, interest-free and have a credit term of 45 days. December 31, 2020 2021 Note (US$ in millions) Payables to related companies: LVS $ — $ 1 Intermediate holding company 3 4 20 $ 3 $ 5

Share-Based Compensation (Table

Share-Based Compensation (Tables)	12 Months Ended
Share-Based Compensation (Tables)	Dec. 31, 2021
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, 2019 2020 2021 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 57,382 $ 4.81 64,874 $ 4.99 54,418 $ 4.96 Granted 19,410 5.08 — — — — Exercised (7,749) 3.65 (1,766) 3.41 (3,070) 3.91 Forfeited (4,169) 5.35 (8,690) 5.51 (3,168) 5.32 Outstanding at December 31 64,874 $ 4.99 54,418 $ 4.96 48,180 $ 5.01 Exercisable at December 31 22,214 $ 5.10 32,903 $ 4.85 37,620 $ 4.94
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, 2019 2020 2021 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 - 2.00 210 0.42 — — — — 2.01 - 3.00 76 1.86 76 0.85 — — 3.01 - 4.00 11,045 5.88 9,783 4.85 8,392 3.87 4.01 - 5.00 16,092 7.41 13,394 6.34 11,066 5.38 5.01 - 6.00 31,292 8.65 26,587 7.68 24,433 6.67 6.01 - 7.00 2,023 6.42 1,851 5.24 1,758 4.13 7.01 - 8.00 2,098 4.32 1,288 3.27 1,288 2.27 8.01 - 9.00 2,038 4.21 1,439 3.21 1,243 2.21 64,874 7.49 54,418 6.53 48,180 5.56
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, 2019 2020 2021 Expected volatility 36.9 % — — Expected life (years) 4.8 — — Risk-free annual interest rate 1.7 % — — Expected dividends 5.0 % — — Weighted average share price at the date of grant (US$) $ 5.06 $ — $ — Weighted average exercise price (US$) $ 5.08 $ — $ — Weighted average fair value of each share option granted by the Company (US$) $ 1.03 $ — $ —
Disclosure of number and weighted average exercise prices of other equity instruments	A summary of the restricted share units under the 2009 Equity Award Plan and the 2019 Equity Award Plan is presented below: Year Ended December 31, 2019 2020 2021 Number of restricted share units Weighted average grant date fair value (US$) Number of restricted share units Weighted average grant date fair value (US$) Number of restricted share units Weighted average grant date fair value (US$) Unvested at January 1 — $ — 1,407 $ 4.99 3,363 $ 4.44 Granted 1,412 4.99 2,337 4.11 13,040 3.22 Vested — — (244) 4.09 (961) 4.46 Forfeited (5) 4.99 (137) 4.97 (120) 4.53 Unvested at December 31 1,407 $ 4.99 3,363 $ 4.44 15,322 $ 3.40

Financial Risk Management (Tabl

Financial Risk Management (Tables)	12 Months Ended
Financial Risk Management (Tables)	Dec. 31, 2021
Disclosure of nature and extent of risks arising from financial instruments [abstract]
Disclosure of financial assets and financial liabilities by currency	The Group’s financial assets and financial liabilities are denominated in the following currencies: HK$ US$ MOP RMB Other currencies Total (US$ in millions) At December 31, 2020 Financial assets Amortized costs: Trade and other receivables, net $ 118 $ 4 $ 9 $ — $ — $ 131 Restricted cash and cash equivalents — — 16 — — 16 Cash and cash equivalents 438 280 130 11 2 861 Deposits 1 — 1 — — 2 Total financial assets $ 557 $ 284 $ 156 $ 11 $ 2 $ 1,010 Financial liabilities Amortized costs: Trade and other payables $ 513 $ 143 $ 505 $ 3 $ 1 $ 1,165 Borrowings 4 6,920 139 2 — 7,065 Total financial liabilities $ 517 $ 7,063 $ 644 $ 5 $ 1 $ 8,230 At December 31, 2021 Financial assets Amortized costs: Trade and other receivables, net $ 111 $ 4 $ 14 $ — $ — $ 129 Restricted cash and cash equivalents — — 16 — — 16 Cash and cash equivalents 532 76 57 11 2 678 Deposits 1 — 1 — — 2 $ 644 $ 80 $ 88 $ 11 $ 2 $ 825 Fair value through other comprehensive income: Derivative financial instruments — 2 — — — 2 Total financial assets $ 644 $ 82 $ 88 $ 11 $ 2 $ 827 Financial liabilities Amortized costs: Trade and other payables $ 380 $ 121 $ 359 $ 3 $ — $ 863 Borrowings 9 7,822 132 1 — 7,964 Total financial liabilities $ 389 $ 7,943 $ 491 $ 4 $ — $ 8,827
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, 2020 Senior Notes principal $ — $ — $ 3,600 $ 3,400 $ 7,000 Senior Notes interests 342 339 850 461 1,992 Lease liabilities 22 13 19 303 357 Trade and other payables 1,079 25 36 25 1,165 At December 31, 2021 Senior Notes principal $ — $ — $ 2,600 $ 4,550 $ 7,150 Senior Notes interests 306 310 823 464 1,903 Bank loans — 753 — — 753 Bank loans interests 20 12 — — 32 Other borrowings 1 1 1 — 3 Other borrowings interests — 1 — — 1 Lease liabilities 19 15 21 296 351 Trade and other payables 767 24 42 30 863
Disclosure of capital risk management	December 31, 2020 2021 (US$ in millions) Interest bearing borrowings, net of deferred financing costs $ 6,920 $ 7,820 Less: cash and cash equivalents (861) (678) restricted cash and cash equivalents (16) (16) Net debt 6,043 7,126 Total equity 1,929 888 Total capital $ 7,972 $ 8,014 Gearing ratio 75.8 % 88.9 %

Company Balance Sheet (Tables)

Company Balance Sheet (Tables)	12 Months Ended
Company Balance Sheet (Tables)	Dec. 31, 2021
Disclosure of separate financial statements [Abstract]
Company balance sheet	December 31, 2020 2021 Notes (US$ in millions) ASSETS Non-current assets Interests in subsidiaries $ 1,144 $ 1,154 Note receivable from subsidiaries 7,782 8,651 Other assets — 2 Total non-current assets 8,926 9,807 Current assets Other receivables and prepayments 59 57 Cash and cash equivalents 6 12 Total current assets 65 69 Total assets $ 8,991 $ 9,876 EQUITY Capital and reserves attributable to equity holders of the Company Share capital $ 81 $ 81 Reserves 28(a) 1,851 1,854 Total equity 1,932 1,935 LIABILITIES Non-current liabilities Borrowings 6,920 7,820 Other payables 3 — Total non-current liabilities 6,923 7,820 Current liabilities Other payables 136 121 Total liabilities 7,059 7,941 Total equity and liabilities $ 8,991 $ 9,876 Net current liabilities $ (71) $ (52) Total assets less current liabilities $ 8,855 $ 9,755
Company movement of reserves	Capital reserve Share premium Share-based compensation reserves Currency translation reserve Hedge reserve Retained earnings Total (US$ in millions) Balance at January 1, 2019 $ 106 $ 1,457 $ 53 $ (18) $ — $ 356 $ 1,954 Profit for the year — — — — — 1,792 1,792 Other comprehensive income for the year, net of tax — — — 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 10) — — — — — (2,054) (2,054) Balance at December 31, 2019 106 1,491 58 (14) — 97 1,738 Profit for the year — — — — — 1,120 1,120 Other comprehensive income for the year, net of tax — — — 3 — — 3 Total comprehensive income — — — 3 — 1,120 1,123 Exercise of share options — 6 — — — — 6 Transfer to share premium upon exercise of share options — 1 (1) — — — — Forfeiture of share options — — (8) — — 8 — Share-based compensation of the Company — — 9 — — — 9 Dividends to equity holders of the Company (Note 10) — — — — — (1,025) (1,025) Balance at December 31, 2020 106 1,498 58 (11) — 200 1,851 Loss for the year — — — — — (4) (4) Fair value adjustment on cash flow hedge — — — — (4) — (4) Other comprehensive loss for the year, net of tax — — — (5) — — (5) Total comprehensive expense — — — (5) (4) (4) (13) Exercise of share options — 12 — — — — 12 Transfer to share premium upon exercise of share options — 5 (5) — — — — Forfeiture of share options — — (2) — — 2 — Share-based compensation of the Company — — 4 — — — 4 Balance at December 31, 2021 $ 106 $ 1,515 $ 55 $ (16) $ (4) $ 198 $ 1,854

Principal Subsidiaries (Tables)

Principal Subsidiaries (Tables)	12 Months Ended
Principal Subsidiaries (Tables)	Dec. 31, 2021
Disclosure of interests in other entities [Abstract]
Disclosure of interests in subsidiaries	Details of the Group’s principal subsidiaries as at December 31, 2019, 2020 and 2021 are as follows: Name Place of incorporation or establishment/ operations and date of incorporation or establishment 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 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, operation of ferry business, and investment holding 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% 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% Name Place of incorporation or establishment/ operations and date of incorporation or establishment Principal Particulars of issued share/ Effective interests held 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)) Total par value: US$100 Total share premium: US$6,423,536.85 100% CotaiJet 312 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$6,339,957.74 100% CotaiJet 313 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$6,312,405.81 100% CotaiJet 314 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$6,486,421.42 100% CotaiJet 315 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$6,332,468.30 100% CotaiJet 316 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$6,439,507.84 100% CotaiJet 317 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$6,526,794.49 100% CotaiJet 318 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$7,936,384.02 100% CotaiJet 319 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$7,838,910.17 100% Name Place of incorporation or establishment/ operations and date of incorporation or Principal Particulars of issued share/ Effective interests held CotaiJet 320 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$6,123,939.20 100% CotaiJet 350 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$7,173,446.06 100% CotaiJet 351 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$7,115,613.37 100% CotaiJet 352 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) Total par value: US$100 Total share premium: US$7,292,634.59 100% CotaiJet 353 Ltd. Cayman Islands/Macao Ferry leasing (Note (i)) 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)) 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)) 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 (Note (ii)) Cayman Islands/Macao, Holder of hotel franchise agreement US$1 100% 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% 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 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 (iii)) 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 (Note (iv)) Hong Kong, Marketing and customer development services HK$1 100% Zhuhai Cotai Information Services Outsourcing Co., Ltd.(Note (v)) China, Outsourcing services, including information technology, accounting, hotel management and marketing US$800,000 100% Name Place of incorporation or establishment/ operations and date of incorporation or Principal Particulars of issued share/ Effective interests held Zhuhai Cotai Logistics Hotel Services Co., Ltd. (Note (v), (vi)) China, Procurement, marketing and administrative services US$4,500,000 100% Zhuhai Hengqin Cotai Information Services Co., Ltd. (Note (v)) 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 were dissolved on March 31, 2020. (ii) The company was dissolved on December 31, 2020. (iii) 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. (iv) V-HK Services Limited became inactive since January 1, 2021. (v) These entities are wholly foreign owned enterprises established in China. (vi) The company was dissolved on December 20, 2021.

General information - Additiona

General information - Additional Information (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)Room	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Disclosure of general information [Line Items]
Cash and cash equivalents	$ 678	$ 861	$ 2,471	$ 2,676
Proceeds from bank loans	756	$ 403	$ 0
2018 SCL Revolving Facility [Member]
Disclosure of general information [Line Items]
Undrawn borrowing facilities	$ 1,750
The Londoner Macao [Member] \| The Londoner Macao Hotel [Member]
Disclosure of general information [Line Items]
Number of hotel rooms \| Room	594
The Londoner Macao [Member] \| Londoner Court [Member]
Disclosure of general information [Line Items]
Number of hotel rooms \| Room	370
Las Vegas Sands Corp. [Member] \| Sands China Ltd. [Member]
Disclosure of general information [Line Items]
Proportion of ownership interest in subsidiary	69.91%

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021
Computer software [member]
Disclosure of significant accounting policies [Line Items]
Useful life measured as period of time, intangible assets other than goodwill	4 years
Gaming tax on gross gaming revenues [Member]
Disclosure of significant accounting policies [Line Items]
Gaming tax rates	35.00%
Additional tax on gross gaming revenues [Member]
Disclosure of significant accounting policies [Line Items]
Gaming tax rates	4.00%
Bottom of range [member]
Disclosure of significant accounting policies [Line Items]
Useful life measured as period of time, investment property, cost model	3 years
Top of range [member]
Disclosure of significant accounting policies [Line Items]
Useful life measured as period of time, investment property, cost model	50 years

Estimated Useful Lives of Asset

Estimated Useful Lives of Assets (Details)	12 Months Ended
Estimated Useful Lives of Assets (Details)	Dec. 31, 2021
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) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Impairment loss on property and equipment	[1]	$ 0	$ 0	$ 65
Recoverable amount of asset				$ 51

[1]	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(d).

Disclosure of Operating Segment

Disclosure of Operating Segments (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of operating segments [line items]
Net revenues		$ 2,874	$ 1,687	$ 8,808
Income from right of use	[1]	410	199	456
Management fee and other income	[1]	63	70	75
Adjusted Property EBITDA	[2]	341	(428)	3,193
Share-based compensation, net of amount capitalized	[3],[4]	(10)	(15)	(14)
Corporate expense	[5]	(68)	(45)	(129)
Pre-opening expense		(11)	(11)	(23)
Depreciation and amortization		(733)	(684)	(706)
Net foreign exchange gains/(losses)		(38)	17	35
Impairment loss on property and equipment	[6]	0	0	(65)
Fair value gain on derivative financial instruments		1	0	0
Loss on disposal of property and equipment, investment properties and intangible assets	[7]	(19)	(73)	(16)
Operating (loss) profit		(537)	(1,239)	2,275
Interest income		2	11	38
Finance costs, net of amounts capitalized		(373)	(279)	(280)
Loss on early retirement of debt		(137)	0	0
Profit (Loss) before income tax		(1,045)	(1,507)	2,033
Income tax expense		(3)	(16)	0
Profit (loss) for the period attributable to equity holders of the Company		(1,048)	(1,523)	2,033
Equity-settled share-based payment expense, net of amounts capitalized	[4]	5	9	13
Cash-settled share-based payment expense, net of amounts capitalized	[4]	5	6	1
Royalty fees		43	22	113
Employee benefit expenses		1,049	1,050	1,292
Other support services		62	58	101
Other expenses		72	62	115
Advertising and promotions		42	27	129
Contract labor and services		70	65	152
Utilities and operating supplies		144	116	195
Capital expenditures		640	1,038	754
Total assets		10,094	10,548
Casino [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		1,987	1,169	7,018
Rooms [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		276	144	731
Mall [Member]
Disclosure of operating segments [line items]
Net revenues	[1],[8]	473	269	531
Rent concessions	[8]	41	215
Food and Beverage [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		93	59	298
Convention, Ferry, Retail and Other [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		45	46	230
Corporate expense [Member]
Disclosure of operating segments [line items]
Share-based compensation, net of amount capitalized	[5]	(1)	(2)
Royalty fees		42	22	110
Management fees		4	4	5
Employee benefit expenses		11	10	7
Other support services		4	3	4
Other expenses		7	6	3
Pre-opening expense [Member]
Disclosure of operating segments [line items]
Employee benefit expenses		5	4	9
Other support services		0	0	1
Other expenses		2	1	1
Advertising and promotions		2	2	9
Contract labor and services		1	2	3
Utilities and operating supplies		1	2	0
Elimination of intersegment amounts [member]
Disclosure of operating segments [line items]
Net revenues	[9]	(15)	(13)	(15)
Elimination of intersegment amounts [member] \| Casino [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	[9]	0	0	0
Elimination of intersegment amounts [member] \| Rooms [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	[9]	0	0	0
Elimination of intersegment amounts [member] \| Mall [Member]
Disclosure of operating segments [line items]
Net revenues	[1],[8],[9]	(2)	(2)	(1)
Elimination of intersegment amounts [member] \| Food and Beverage [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	[9]	0	0	0
Elimination of intersegment amounts [member] \| Convention, Ferry, Retail and Other [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers	[9]	(13)	(11)	(14)
The Venetian Macao [Member]
Disclosure of operating segments [line items]
Net revenues		1,256	738	3,510
Adjusted Property EBITDA	[2]	297	(53)	1,407
Depreciation and amortization		(191)	(181)	(159)
Capital expenditures		71	140	131
Total assets		2,079	2,438
The Venetian Macao [Member] \| Casino [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		944	531	2,875
The Venetian Macao [Member] \| Rooms [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		77	46	222
The Venetian Macao [Member] \| Mall [Member]
Disclosure of operating segments [line items]
Net revenues	[1],[8]	195	126	254
The Venetian Macao [Member] \| Food and Beverage [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		24	14	73
The Venetian Macao [Member] \| Convention, Ferry, Retail and Other [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		16	21	86
The Londoner Macao [Member]
Disclosure of operating segments [line items]
Net revenues		588	297	2,052
Adjusted Property EBITDA	[2]	(84)	(184)	726
Depreciation and amortization		(273)	(230)	(299)
Capital expenditures		538	721	276
Total assets		4,519	4,324
The Londoner Macao [Member] \| Casino [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		396	192	1,541
The Londoner Macao [Member] \| Rooms [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		90	42	320
The Londoner Macao [Member] \| Mall [Member]
Disclosure of operating segments [line items]
Net revenues	[1],[8]	56	38	71
The Londoner Macao [Member] \| Food and Beverage [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		30	17	97
The Londoner Macao [Member] \| Convention, Ferry, Retail and Other [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		16	8	23
The Parisian Macao [Member]
Disclosure of operating segments [line items]
Net revenues		357	259	1,650
Adjusted Property EBITDA	[2]	(17)	(131)	544
Depreciation and amortization		(145)	(163)	(161)
Capital expenditures		4	11	32
Total assets		1,981	2,138
The Parisian Macao [Member] \| Casino [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		244	180	1,376
The Parisian Macao [Member] \| Rooms [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		54	33	130
The Parisian Macao [Member] \| Mall [Member]
Disclosure of operating segments [line items]
Net revenues	[1],[8]	39	27	53
The Parisian Macao [Member] \| Food and Beverage [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		17	14	70
The Parisian Macao [Member] \| Convention, Ferry, Retail and Other [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		3	5	21
The Plaza Macao [Member]
Disclosure of operating segments [line items]
Net revenues		546	265	877
Adjusted Property EBITDA	[2]	219	33	345
Depreciation and amortization		(84)	(71)	(40)
Capital expenditures		19	156	296
Total assets		1,161	1,219
The Plaza Macao [Member] \| Casino [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		298	159	650
The Plaza Macao [Member] \| Rooms [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		45	17	41
The Plaza Macao [Member] \| Mall [Member]
Disclosure of operating segments [line items]
Net revenues	[1],[8]	184	79	151
The Plaza Macao [Member] \| Food and Beverage [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		17	9	31
The Plaza Macao [Member] \| Convention, Ferry, Retail and Other [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		2	1	4
Sands Macao [Member]
Disclosure of operating segments [line items]
Net revenues		122	120	628
Adjusted Property EBITDA	[2]	(69)	(76)	175
Depreciation and amortization		(24)	(27)	(27)
Capital expenditures		7	8	16
Total assets		252	319
Sands Macao [Member] \| Casino [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		105	107	576
Sands Macao [Member] \| Rooms [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		10	6	18
Sands Macao [Member] \| Mall [Member]
Disclosure of operating segments [line items]
Net revenues	[1],[8]	1	1	3
Sands Macao [Member] \| Food and Beverage [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		5	5	27
Sands Macao [Member] \| Convention, Ferry, Retail and Other [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		1	1	4
Ferry and Other Operations [Member]
Disclosure of operating segments [line items]
Net revenues		20	21	106
Adjusted Property EBITDA	[2]	(5)	(17)	(4)
Depreciation and amortization		(16)	(12)	(20)
Capital expenditures		1	2	3
Total assets		102	110
Ferry and Other Operations [Member] \| Casino [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		0	0	0
Ferry and Other Operations [Member] \| Rooms [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		0	0	0
Ferry and Other Operations [Member] \| Mall [Member]
Disclosure of operating segments [line items]
Net revenues	[1],[8]	0	0	0
Ferry and Other Operations [Member] \| Food and Beverage [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		0	0	0
Ferry and Other Operations [Member] \| Convention, Ferry, Retail and Other [Member]
Disclosure of operating segments [line items]
Revenue from contracts with customers		$ 20	$ 21	$ 106

[1]	Of this amount, US$456 million and US$75 million for the year ended December 31, 2019, US$199 million and US$70 million for the year ended December 31, 2020, and US$410 million and US$63 million for the year ended December 31, 2021 were 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 and all other revenues are recognized in accordance with IFRS 15 Revenue from contracts with customers .
[2]	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.
[3]	Share-based compensation of US$1 million, US$1 million and less than US$1 million was capitalized during the years ended December 31, 2019, 2020 and 2021, respectively. For further information related to the Company’s equity award plan and LVS’ equity award plan, see Note 26 to the consolidated financial statements.
[4]	The amount comprised of US$13 million, US$9 million and US$5 million equity-settled share-based payment expense, net of amounts capitalized and US$1 million, US$6 million and US$5 million cash-settled share-based payment expense, net of amounts capitalized for the years ended December 31, 2019, 2020 and 2021, respectively.
[5]	The share-based payment expense for exclusion in the above corporate expense was negligible for the year ended December 31, 2019. The share-based payment expenses excluded for the years ended December 31, 2020, and 2021 were US$2 million and US$1 million, respectively,
[6]	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(d).
[7]	Loss on disposal of property and equipment, investment properties and intangible assets for the years ended December 31, 2020 and 2021 included demolition cost of US$34 million and US$11 million, respectively, primarily related to The Londoner Macao project.
[8]	For the years ended December 31, 2020 and 2021, rent concessions of US$215 million and US$41 million, respectively, were provided to tenants as a result of the COVID-19 Pandemic and the impact on mall operations.
[9]	Inter-segment revenues are charged at prevailing market rates.

Employee Benefits Expenses (I_3

Employee Benefits Expenses (Including Directors' Emoluments) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of employee benefits [Abstract]
Wages, salaries, bonus and termination costs		$ 930	$ 919	$ 1,145
Staff meals		45	46	57
Pension costs		36	35	40
Share-based compensation, net of amount capitalized	[1],[2]	10	15	14
Other employee benefit expenses		28	35	36
Employee benefit expenses		1,049	1,050	1,292
Capitalized share-based compensation costs	[1]	$ 1	$ 1	$ 1

[1]	Share-based compensation of US$1 million, US$1 million and less than US$1 million was capitalized during the years ended December 31, 2019, 2020 and 2021, respectively. For further information related to the Company’s equity award plan and LVS’ equity award plan, see Note 26 to the consolidated financial statements.
[2]	The amount comprised of US$13 million, US$9 million and US$5 million equity-settled share-based payment expense, net of amounts capitalized and US$1 million, US$6 million and US$5 million cash-settled share-based payment expense, net of amounts capitalized for the years ended December 31, 2019, 2020 and 2021, respectively.

Employee Benefits Expenses (I_4

Employee Benefits Expenses (Including Directors' Emoluments) - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of employee benefits [Line Items]
Defined contribution plan, contributions payable	$ 6	$ 6
Defined contribution plan, forfeited contributions utilized	3	4
Defined contribution plan, forfeitures available to reduce future contributions	1	1
Services received, related party transactions	21	13	$ 26
LVS
Disclosure of employee benefits [Line Items]
Services received, related party transactions	16	10	19
Robert Glen Goldstein [Member] \| LVS
Disclosure of employee benefits [Line Items]
Services received, related party transactions	$ 1	$ 1	$ 4

Employee Benefits Expenses (I_5

Employee Benefits Expenses (Including Directors' Emoluments) Directors' Emoluments (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Directors' Emoluments [Line Items]
Key management personnel compensation, fees		$ 1,081	$ 1,060	$ 810
Key management personnel compensation, salaries		5,732	2,724	2,350
Key management personnel compensation, discretionary bonuses	[1]			1,502
Key management personnel compensation, pension costs		237	136	117
Key management personnel compensation, other benefits	[2]	2,183	2,832	618
Key management personnel compensation, total		9,233	6,752	5,397
Executive Directors [Member] \| Wong Ying Wai [Member]
Directors' Emoluments [Line Items]
Key management personnel compensation, salaries		3,000	2,724	2,350
Key management personnel compensation, discretionary bonuses	[1]			1,502
Key management personnel compensation, pension costs		150	136	117
Key management personnel compensation, other benefits	[2]	1,020	2,832	618
Key management personnel compensation, total		4,170	5,692	4,587
Executive Directors [Member] \| Chum Kwan Lock, Grant
Directors' Emoluments [Line Items]
Key management personnel compensation, salaries	[3]	2,732
Key management personnel compensation, pension costs	[3]	87
Key management personnel compensation, other benefits	[2],[3]	1,163
Key management personnel compensation, total	[3]	3,982
Non-Executive Directors [Member] \| Charles Daniel Forman [Member]
Directors' Emoluments [Line Items]
Key management personnel compensation, fees		200	200	150
Key management personnel compensation, total		200	200	150
Independent Non-Executive Directors [Member] \| Chiang Yun [Member]
Directors' Emoluments [Line Items]
Key management personnel compensation, fees		221	200	150
Key management personnel compensation, total		221	200	150
Independent Non-Executive Directors [Member] \| Victor Patrick Hoog Antink [Member]
Directors' Emoluments [Line Items]
Key management personnel compensation, fees		230	230	180
Key management personnel compensation, total		230	230	180
Independent Non-Executive Directors [Member] \| Steven Zygmunt Strasser [Member]
Directors' Emoluments [Line Items]
Key management personnel compensation, fees		230	230	180
Key management personnel compensation, total		230	230	180
Independent Non-Executive Directors [Member] \| Kenneth Patrick Chung [Member]
Directors' Emoluments [Line Items]
Key management personnel compensation, fees		200	200	150
Key management personnel compensation, total		$ 200	$ 200	$ 150

[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 options and restricted share units under the Equity Award Plan, accommodation, meals, home visit travel costs and medical insurance. The value of share options and restricted share units granted to the Directors represents the amount recognized as an expense during the year in accordance with IFRS 2 Share-based payment .
[3]	Chum Kwan Lock, Grant was appointed as the Executive Director of the Company with effect from January 7, 2021.

Employee Benefit Expenses (Incl

Employee Benefit Expenses (Including Directors' Emoluments) Emoluments for Non-Director Highest Paid Individuals (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of highest paid employees [Line Items]
Share-based compensation	[1],[2]	$ 10,000	$ 15,000	$ 14,000
Pension costs		36,000	35,000	40,000
Employee benefit expenses		1,049,000	1,050,000	1,292,000
Non-Director Highest Paid Individuals [Member]
Disclosure of highest paid employees [Line Items]
Basic salaries, allowances and benefits in kind		4,874	6,530	4,720
Bonus		0	0	3,858
Share-based compensation	[3]	1,415	2,846	781
Pension costs		132	206	219
Employee benefit expenses		$ 6,421	$ 9,582	$ 9,578

[1]	Share-based compensation of US$1 million, US$1 million and less than US$1 million was capitalized during the years ended December 31, 2019, 2020 and 2021, respectively. For further information related to the Company’s equity award plan and LVS’ equity award plan, see Note 26 to the consolidated financial statements.
[2]	The amount comprised of US$13 million, US$9 million and US$5 million equity-settled share-based payment expense, net of amounts capitalized and US$1 million, US$6 million and US$5 million cash-settled share-based payment expense, net of amounts capitalized for the years ended December 31, 2019, 2020 and 2021, respectively.
[3]	The value of share options and restricted share units granted to the individuals represents the amount recognized as an expense during the year in accordance with IFRS 2 Share-based payment .

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	3	4	4
HK$10,500,001 – HK$11,000,000 (approximately US$1,346,000 – US$1,410,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	0	1	0
HK$13,500,001 – HK$14,00,000 (approximately US$1,731,000 – US$1,795,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	0	1	0
HK$15,500,001 – HK$16,000,000 (approximately US$1,987,000 – US$2,051,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	1	0	0
HK$16,00,001 – HK$16,500,000 (approximately US$2,051,000 – US$2,116,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	1	0	2
HK$17,500,001 – HK$18,000,000 (approximately US$2,244,000 – US$2,308,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	0	1	1
HK$18,00,001 – HK$18,500,000 (approximately US$2,308,000 – US$2,372,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	1	0	0
HK$24,500,001 – HK$25,000,000 (approximately US$3,141,000 – US$3,205,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	0	0	1
HK$32,000,001 – HK$32,500,000 (approximately US$4,103,000 – US$4,167,000)
Disclosure of highest paid employees [Line Items]
Number of highest paid individuals	0	1	0

Other Expenses, Gains and Los_3

Other Expenses, Gains and Losses 1 (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of other expenses, gains and losses [Line Items]
Utilities and operating supplies		$ 144	$ 116	$ 195
Contract labor and services		70	65	152
Repairs and maintenance		64	65	85
Royalty fees		43	22	113
Advertising and promotions		42	27	129
Management fees	[1]	19	16	47
Provision for expected credit losses, net		3	52	24
Auditor's remuneration		2	2	2
Lease payments for which the recognition exemption is applied and variable lease payments not included in lease liabilities		1	3	8
Foreign exchange loss (gain)		38	(17)	(35)
Loss on disposal of property and equipment, investment properties and intangible assets	[2]	19	73	16
Impairment loss on property and equipment	[3]	0	0	65
Fair value gain on derivative financial instruments		(1)	0	0
Other support services		62	58	101
Other operating expenses		72	62	115
Other expenses, gains and losses		578	544	1,017
Management fee charged by third parties	[1]	3	3	24
Services received, net of amounts capitalized, related party transactions	[1]	16	13	$ 23
The Londoner Macao [Member] \| Demolition costs [Member]
Disclosure of other expenses, gains and losses [Line Items]
Loss on disposal of property and equipment, investment properties and intangible assets	[2]	$ 11	$ 34

[1]	Total management fees for the years ended December 31, 2019, 2020 and 2021 included US$24 million, US$3 million and US$3 million charged by third parties and US$23 million, US$13 million and US$16 million charged by related parties, net of amounts capitalized, respectively. Refer to Note 25(a)(ii) for further information.
[2]	Loss on disposal of property and equipment, investment properties and intangible assets for the years ended December 31, 2020 and 2021 included demolition cost of US$34 million and US$11 million, respectively, primarily related to The Londoner Macao project.
[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(d).

Finance Costs (Details)

Finance Costs (Details) - USD ($) $ in Millions	12 Months Ended
Finance Costs (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of interest expense [Abstract]
Senior Notes	$ 331	$ 260	$ 253
Bank borrowings	12	2	0
Lease liabilities	8	8	8
Amortization of deferred financing costs	23	17	15
Standby fee and other financing costs	13	13	13
Interest costs incurred	387	300	289
Less: interest capitalized	(14)	(21)	(9)
Interest expense, net of amounts capitalized	$ 373	$ 279	$ 280

Interest Expense, Net of Amount

Interest Expense, Net of Amounts Capitalized - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Bottom of range [member]
Disclosure of interest expense [Line Items]
Capitalisation rate of borrowing costs eligible for capitalisation	4.50%	3.20%	4.40%
Top of range [member]
Disclosure of interest expense [Line Items]
Capitalisation rate of borrowing costs eligible for capitalisation	5.10%	5.10%	5.30%

Components of Income Tax Expens

Components of Income Tax Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of income tax [Line Items]
Deferred tax expense (benefit)	$ (2)	$ 11	$ (5)
Income tax expense (benefit)	3	16	0
Lump sum in lieu of Macao complementary tax on dividends [Member]
Disclosure of income tax [Line Items]
Current tax expense (income)	$ 5	$ 5	$ 5

Income Tax Expense (Benefit) -

Income Tax Expense (Benefit) - Additional Information (Details) - USD ($) $ in Millions	Aug. 20, 2018	Apr. 30, 2019	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of income tax [Line Items]
Deferred tax expense (benefit)			$ (2)	$ 11	$ (5)
MACAU \| Macao Finance Bureau (MFB) [Member]
Disclosure of income tax [Line Items]
Income tax holiday termination date	Jun. 26, 2022
Shareholder dividend tax agreement termination date		Jun. 26, 2022
MACAU \| Top of range [member] \| Macao Finance Bureau (MFB) [Member]
Disclosure of income tax [Line Items]
Gaming tax rates			12.00%	12.00%	12.00%
HONG KONG \| Top of range [member]
Disclosure of income tax [Line Items]
Gaming tax rates			16.50%	16.50%	16.50%

Effective Income Tax Reconcilia

Effective Income Tax Reconciliation (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of income tax [Line Items]
Profit (Loss) before income tax		$ (1,045)	$ (1,507)	$ 2,033
Tax calculated at domestic rates applicable to profits in the respective jurisdictions		(121)	(174)	261
Income not subject to tax	[1]	(365)	(247)	(966)
Expenses not deductible for tax purposes	[1],[2]	332	271	603
Amortization of pre-opening expenses previously not recognized		(2)	(2)	(1)
Origination and reversal of temporary difference, net		0	5	4
Tax losses for which no deferred income tax assets were recognized		154	158	95
Lump sum in lieu of Macao complementary tax of dividends		5	5	5
Other		0	0	(1)
Income tax expense (benefit)		$ 3	$ 16	$ 0

[1]	During the three years ended December 31, 2021, VML was exempt from Macao complementary tax on its gaming activities (see also Note 8(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. Additionally, for the years ended December 31, 2019 and 2020, the Company received dividend income from a subsidiary. The dividend income is not subject to Hong Kong profits tax.
[2]	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 Sands Macao expired in August 2012, for The Venetian Macao in August 2019, with exception of its casino area which expired in August 2013, and for The Plaza Macao in August 2020. The exemptions for The Londoner Macao and The Parisian Macao will be expiring in December 2027 and September 2028, respectively. Regarding The Grand Suites at Four Seasons, under the initial exemption, it has an exemption with expiration date of April 2019. The Group is currently working on obtaining the second exemption for The Grand Suites at Four Seasons.

Earnings_(Loss) Per Share (Deta

Earnings/(Loss) Per Share (Details) $ / shares in Units, shares in Thousands, $ in Millions		12 Months Ended
		Dec. 31, 2021USD ($)$ / sharesshares	Dec. 31, 2021$ / shares		Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2020$ / shares		Dec. 31, 2019USD ($)$ / sharesshares	Dec. 31, 2019$ / shares
Earnings/(Loss) per share[line items]
Profit (loss) attributable to equity holders of the Company (US$ in millions) \| $		$ (1,048)			$ (1,523)			$ 2,033
Weighted average number of shares for basic earnings/(loss) per share (thousand shares)		8,092,597			8,089,202			8,085,149
Adjustments for share options (thousand shares)	[1]	0			0			5,057
Weighted average number of shares for diluted earnings/(loss) per share (thousand shares)		8,092,597			8,089,202			8,090,206
Earnings/(loss) per share, basic(ii) \| (per share)		$ (0.1295)	$ (1.0100)	[2]	$ (0.1882)	$ (1.4590)	[2]	$ 0.2514	$ 1.9579	[2]
Earnings/(loss) per share, diluted(ii) \| (per share)		$ (0.1295)	$ (1.0100)	[2]	$ (0.1882)	$ (1.4590)	[2]	$ 0.2513	$ 1.9571	[2]
Hong Kong, Dollars [Member]
Earnings/(Loss) per share[line items]
Exchange rate for translation	[2]	7.7994	7.7994		7.7526	7.7526		7.7879	7.7879

[1]	The computation of the diluted loss per share for the years ended December 31, 2020 and 2021 did not assume the exercise of the Company's share options because the exercise would result in a decrease in loss per share.
[2]	The translation of US$ amounts into HK$ amounts has been made at the exchange rate on December 31, 2019, 2020 and 2021 of US$1.00 to HK$7.7879, US$1.00 to HK$7.7526 and US$1.00 to HK$7.7994, respectively.

Dividends (Details)

Dividends (Details) $ / shares in Units, $ in Millions		Jan. 17, 2020$ / shares	Jan. 17, 2020USD ($)$ / shares	May 24, 2019$ / shares	May 24, 2019USD ($)$ / shares	Jan. 18, 2019$ / shares	Jan. 18, 2019USD ($)$ / shares	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of dividends [Line Items]
Dividends paid, ordinary shares								$ 1,025	$ 2,054
Interim [Member]
Disclosure of dividends [Line Items]
Dividends paid, ordinary shares	[1]		$ 1,025				$ 1,023
Dividends paid, ordinary shares per share \| (per share)		$ 0.99	$ 0.127			$ 0.99	$ 0.127
Final [Member]
Disclosure of dividends [Line Items]
Dividends paid, ordinary shares	[1]				$ 1,031
Dividends paid, ordinary shares per share \| (per share)				$ 1	$ 0.127

[1]	The 2018 interim and final dividend and the 2019 interim dividend were not recognized as a liability as at December 31, 2018 and 2019, respectively. They were reflected as appropriation of reserves during 2019 and 2020, respectively.

Disclosure of Detailed Informat

Disclosure of Detailed Information About Investment Property (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about investment property [line items]
Investment property at beginning of period	$ 543
Investment property at end of period	637	$ 543
Cost [member]
Disclosure of detailed information about investment property [line items]
Investment property at beginning of period	990	1,004
Additions	20	7
Adjustments to project costs	0	(3)
Disposals, investment property	(3)	(24)
Transfers from property and equipment	129	2
Exchange difference	(6)	4
Investment property at end of period	1,130	990
Accumulated amortization [member]
Disclosure of detailed information about investment property [line items]
Investment property at beginning of period	(447)	(417)
Disposals, investment property	3	24
Exchange difference	3	(2)
Depreciation	(52)	(52)
Investment property at end of period	$ (493)	$ (447)

Fair Value of Investment Proper

Fair Value of Investment Properties (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Disclosure of fair value measurement of assets [line items]
Fair value of the investment properties	$ 637	$ 543
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	$ 7,999	$ 7,686

Disclosure of Income Statement

Disclosure of Income Statement Amounts Related to Investment Properties (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about investment property [line items]
Mall income	$ 473	$ 269	$ 531
Direct operating expenses arising from investment properties that generate right-of-use income	34	37	50
Direct operating expenses that did not generate right-of-use income	$ 11	$ 6	$ 5

Investment Properties, Net - Ad

Investment Properties, Net - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Variable Lease Income [Member]
Disclosure of detailed information about investment property [line items]
Mall income	$ 90	$ 29	$ 74

Leasing Arrangements (Details)

Leasing Arrangements (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Disclosure of maturity analysis of operating lease receivables [Line Items]
Undiscounted operating lease payments to be received	$ 1,233	$ 1,416
Not later than one year [member]
Disclosure of maturity analysis of operating lease receivables [Line Items]
Undiscounted operating lease payments to be received	300	334
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	229	244
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	174	178
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	117	140
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	105	113
Later than five years [member]
Disclosure of maturity analysis of operating lease receivables [Line Items]
Undiscounted operating lease payments to be received	$ 308	$ 407

Disclosure of Detailed Inform_2

Disclosure of Detailed Information About Property and Equipment (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period		$ 8,832
Property, plant and equipment at end of period		8,477	$ 8,832
Leasehold interests in land [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period		526
Property, plant and equipment at end of period		513	526
Land improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period		231
Property, plant and equipment at end of period		225	231
Buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period		6,525
Property, plant and equipment at end of period		6,889	6,525
Leasehold improvements [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period		2
Property, plant and equipment at end of period		1	2
Motor vehicles [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period		40
Property, plant and equipment at end of period		29	40
Ships [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period		40
Property, plant and equipment at end of period		35	40
Furniture, fittings and equipment [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period		694
Property, plant and equipment at end of period		647	694
Construction in progress [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period		774
Property, plant and equipment at end of period		138	774
Cost [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period		14,270	13,349
Additions		516	1,112
Adjustments to project costs		(19)	(7)
Disposals		(83)	(239)
Transfers	[1]	(129)	(2)
Exchange difference		(80)	57
Property, plant and equipment at end of period		14,475	14,270
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		674	675
Additions		0	1
Adjustments to project costs		0	(2)
Disposals		0	0
Transfers	[1]	0	0
Exchange difference		0	0
Property, plant and equipment at end of period		674	674
Cost [member] \| Land improvements [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period		372	399
Additions		0	0
Adjustments to project costs		0	(7)
Disposals		0	(24)
Transfers	[1]	0	2
Exchange difference		(2)	2
Property, plant and equipment at end of period		370	372
Cost [member] \| Buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period		9,890	9,377
Additions		2	9
Adjustments to project costs		(9)	4
Disposals		(44)	(127)
Transfers	[1]	859	583
Exchange difference		(64)	44
Property, plant and equipment at end of period		10,634	9,890
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
Additions		0	2
Adjustments to project costs		0	0
Disposals		0	(2)
Transfers	[1]	0	0
Exchange difference		0	0
Property, plant and equipment at end of period		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		66	63
Additions		2	29
Adjustments to project costs		(2)	0
Disposals		0	(26)
Transfers	[1]	0	0
Exchange difference		0	0
Property, plant and equipment at end of period		66	66
Cost [member] \| Ships [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period		252	252
Additions		0	0
Adjustments to project costs		0	0
Disposals		0	0
Transfers	[1]	0	0
Exchange difference		0	0
Property, plant and equipment at end of period		252	252
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		2,235	2,082
Additions		27	47
Adjustments to project costs		(8)	(2)
Disposals		(35)	(58)
Transfers	[1]	128	156
Exchange difference		(13)	10
Property, plant and equipment at end of period		2,334	2,235
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		774	494
Additions		485	1,024
Adjustments to project costs		0	0
Disposals		(4)	(2)
Transfers	[1]	(1,116)	(743)
Exchange difference		(1)	1
Property, plant and equipment at end of period		138	774
Accumulated amortization [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period		(5,438)	(4,988)
Disposals		72	186
Exchange difference		30	(22)
Depreciation		(662)	(614)
Property, plant and equipment at end of period		(5,998)	(5,438)
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		(148)	(135)
Disposals		0	0
Exchange difference		0	0
Depreciation		(13)	(13)
Property, plant and equipment at end of period		(161)	(148)
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		(141)	(156)
Disposals		0	22
Exchange difference		0	(1)
Depreciation		(4)	(6)
Property, plant and equipment at end of period		(145)	(141)
Accumulated amortization [member] \| Buildings [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period		(3,365)	(3,042)
Disposals		38	95
Exchange difference		21	(14)
Depreciation		(439)	(404)
Property, plant and equipment at end of period		(3,745)	(3,365)
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		(5)	(6)
Disposals		0	2
Exchange difference		0	0
Depreciation		(1)	(1)
Property, plant and equipment at end of period		(6)	(5)
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		(26)	(27)
Disposals		0	12
Exchange difference		0	0
Depreciation		(11)	(11)
Property, plant and equipment at end of period		(37)	(26)
Accumulated amortization [member] \| Ships [member]
Disclosure of detailed information about property, plant and equipment [line items]
Property, plant and equipment at beginning of period		(212)	(207)
Disposals		0	0
Exchange difference		0	0
Depreciation		(5)	(5)
Property, plant and equipment at end of period		(217)	(212)
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		(1,541)	(1,415)
Disposals		34	55
Exchange difference		9	(7)
Depreciation		(189)	(174)
Property, plant and equipment at end of period		(1,687)	(1,541)
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
Disposals		0	0
Exchange difference		0	0
Depreciation		0	0
Property, plant and equipment at end of period		$ 0	$ 0

[1]	During the years ended December 31, 2020 and 2021, the net transfers to investment properties were US$2 million and US$129 million, respectively.

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about property, plant and equipment [line items]
Interest costs capitalised	$ 14	$ 21	$ 9
Other direct costs capitalized	$ 20	$ 24
Leasehold interest in land, term of contract	25 years
Leasehold interests in land [Member]
Disclosure of detailed information about property, plant and equipment [line items]
Useful life measured as period of time, property, plant and equipment	50 years

Right-of-use assets (Details)

Right-of-use assets (Details) - USD ($) $ in Millions	12 Months Ended
Right-of-use assets (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	$ 587
Depreciation, right-of-use assets	(25)	$ (27)	$ (22)
Right-of-use assets, ending balance	571	587
Leasehold interests in land [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	42
Depreciation, right-of-use assets	(1)	(1)	(1)
Right-of-use assets, ending balance	41	42
Leasehold interests in land [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	526
Depreciation, right-of-use assets	(13)	(13)	(12)
Right-of-use assets, ending balance	513	526
Other property, plant and equipment [member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	19
Depreciation, right-of-use assets	(11)	(13)	(9)
Right-of-use assets, ending balance	17	19
Cost [member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	770	763
Additions to right-of-use assets	9	26
Increase (decrease) through other changes, right-of-use-assets		(2)
Disposals of right-of-use-assets	(7)	(17)
Right-of-use assets, ending balance	772	770	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	56	56
Additions to right-of-use assets	0	0
Increase (decrease) through other changes, right-of-use-assets		0
Disposals of right-of-use-assets	0	0
Right-of-use assets, ending balance	56	56	56
Cost [member] \| Leasehold interests in land [Member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	674	675
Additions to right-of-use assets	0	1
Increase (decrease) through other changes, right-of-use-assets		(2)
Disposals of right-of-use-assets	0	0
Right-of-use assets, ending balance	674	674	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	40	32
Additions to right-of-use assets	9	25
Increase (decrease) through other changes, right-of-use-assets		0
Disposals of right-of-use-assets	(7)	(17)
Right-of-use assets, ending balance	42	40	32
Accumulated amortization [member]
Disclosure of quantitative information about right-of-use assets [line items]
Right-of-use assets, opening balance	(183)	(159)
Disposals of right-of-use-assets	7	3
Depreciation, right-of-use assets	(25)	(27)
Right-of-use assets, ending balance	(201)	(183)	(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	(14)	(13)
Disposals of right-of-use-assets	0	0
Depreciation, right-of-use assets	(1)	(1)
Right-of-use assets, ending balance	(15)	(14)	(13)
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	(148)	(135)
Disposals of right-of-use-assets	0	0
Depreciation, right-of-use assets	(13)	(13)
Right-of-use assets, ending balance	(161)	(148)	(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	(21)	(11)
Disposals of right-of-use-assets	7	3
Depreciation, right-of-use assets	(11)	(13)
Right-of-use assets, ending balance	$ (25)	$ (21)	$ (11)

Lease Liabilities (Details)

Lease Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Lease Liabilities [Line Items]
Current liabilities - Borrowings	$ 17	$ 21
Non-current liabilities - Borrowings	124	124
Total lease liabilities	$ 141	$ 145

Leases - Additional Information

Leases - Additional Information (Details) $ in Millions	12 Months Ended
Leases - Additional Information (Details) $ in Millions	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Disclosure of quantitative information about leases for lessee [Line Items]
Weighted average lessee's incremental borrowing rate applied to lease liabilities	0.048	0.049
Cash outflow for leases	$ 14	$ 15	$ 30
Cash outflow for variable, low-value and short-term lease expenses	$ 1	$ 3	$ 8
Options to extend lease term, minimum	one month
Options to extend lease term, maximum	10 years
Leasehold interest in land, term of contract	25 years
Leasehold interests in land [Member]
Disclosure of quantitative information about leases for lessee [Line Items]
Useful life measured as period of time, property, plant and equipment	50 years

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, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of Income Statement Impact from Right of Use Assets and Lease Liabilities [Line Items]
Depreciation, right-of-use assets	$ 25	$ 27	$ 22
Lease liabilities	8	8	8
Expense relating to short-term leases for which recognition exemption has been used	1	1	2
Expense relating to leases of low-value assets for which recognition exemption has been used	0	1	1
Expense relating to variable lease payments not included in measurement of lease liabilities	0	1	5
Total lease related expenses	34	38	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	1	1	1
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	13	13	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	$ 11	$ 13	$ 9

Disclosure of Intangible Assets

Disclosure of Intangible Assets (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of detailed information about intangible assets [line items]
Intangible assets, opening amount	$ 41
Intangible assets, closing amount	38	$ 41
Computer software [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets, opening amount	41
Intangible assets, closing amount	38	41
Computer software [member] \| Cost [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets, opening amount	141	130
Additions	16	11
Intangible assets, closing amount	157	141
Computer software [member] \| Accumulated amortization [member]
Disclosure of detailed information about intangible assets [line items]
Intangible assets, opening amount	(100)	(82)
Amortization	(19)	(18)
Intangible assets, closing amount	$ (119)	$ (100)

Movements of Deferred Tax Liabi

Movements of Deferred Tax Liabilities (Details) - Accelerated depreciation allowance [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of income tax [Line Items]
Deferred tax liability, opening balance	$ (56)	$ (45)
Deferred tax expense (income) recognised in profit or loss	2	(11)
Deferred tax liability, ending balance	$ (54)	$ (56)

Unrecognized Deferred Tax Asset

Unrecognized Deferred Tax Assets (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unused tax losses for which no deferred tax asset recognised	$ 422	$ 349
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	421	346
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	$ 1	$ 3

Deferred Income Tax Liabiliti_3

Deferred Income Tax Liabilities - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Disclosure of temporary difference, unused tax losses and unused tax credits [line items]
Unrecognized tax losses	$ 3,457	$ 2,835
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	$ 140	133
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	$ 3,317	$ 2,702

Disclosure of detailed inform_3

Disclosure of detailed information about trade and other receivables and prepayments (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Trade and other receivables [abstract]
Trade receivables	$ 241	$ 257
Less: provision for expected credit losses	(125)	(137)
Trade receivables, net	116	120
Deferred rent	73	69
Amortization of deferred rent	(42)	(42)
Provision for doubtful deferred rent	(2)	(2)
Prepayments	49	52
Other receivables	13	11
Trade and other receivables and prepayments, net	207	208
Less: non-current portion:
Deferred rent	(17)	(13)
Prepayments	(7)	(5)
Non-current portion	(24)	(18)
Current portion	$ 183	$ 190

Trade receivables aging (Detail

Trade receivables aging (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Trade receivables aging [Line Items]
Trade receivables	$ 116	$ 120
0–30 days
Trade receivables aging [Line Items]
Trade receivables	90	89
31–60 days
Trade receivables aging [Line Items]
Trade receivables	7	9
61–90 days
Trade receivables aging [Line Items]
Trade receivables	2	5
Over 90 days
Trade receivables aging [Line Items]
Trade receivables	$ 17	$ 17

Trade and Other Receivables a_3

Trade and Other Receivables and Prepayments, Net - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Trade and other receivables and prepayments, net [Line Items]
Minimum credit period granted to selected premium and mass market players	7
Maximum credit period granted to selected premium and mass market players	15
Concentration of credit risk, as a percentage of casino receivables	47.60%	67.60%
Credit play, as a percentage of total table games play	14.50%	24.00%
Gross casino receivables, before provision for doubtful accounts	$ 160,000,000	$ 247,000,000
Commissions payable and front money deposits	8,000,000	39,000,000
Net casino receivables, before provision of doubtful accounts	152,000,000	208,000,000
Trade receivables	116,000,000	120,000,000
Trade receivables, before provision	241,000,000	257,000,000
Provision for expected credit losses, net	3,000,000	52,000,000	$ 24,000,000
Deferred rent [Member]
Trade and other receivables and prepayments, net [Line Items]
Provision for expected credit losses, net	2,000,000	2,000,000	$ 0
Expected credit losses individually assessed [member] \| Trade receivables [member]
Trade and other receivables and prepayments, net [Line Items]
Trade receivables, before provision	135,000,000	130,000,000
Financial assets past due but not impaired [member]
Trade and other receivables and prepayments, net [Line Items]
Trade receivables	159,000,000	181,000,000
Financial assets past due but not impaired [member] \| Casino receivable [Member]
Trade and other receivables and prepayments, net [Line Items]
Trade receivables	$ 141,000,000	$ 158,000,000

Exposure to Credit Risk for Tra

Exposure to Credit Risk for Trade Receivables (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Disclosure of financial assets that are either past due or impaired [line items]
Trade receivables, before provision	$ 241	$ 257
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	$ 106	127
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	17	53
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	10	16
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	4	6
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	$ 75	$ 52

Movements of Lifetime Expected

Movements of Lifetime Expected Credit Losses (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of financial assets that are either past due or impaired [line items]
Provision for expected credit losses, beginning balance	$ 137
Provision for expected credit losses, net	3	$ 52	$ 24
Provision for expected credit losses, ending balance	125	137
Trade receivables [member]
Disclosure of financial assets that are either past due or impaired [line items]
Provision for expected credit losses, beginning balance	137	106
Provision for expected credit losses, net	1	50
Amounts written-off	(13)	(19)
Provision for expected credit losses, ending balance	$ 125	$ 137	$ 106

Cash and Cash Equivalents Discl

Cash and Cash Equivalents Disclosure of Detailed Information About Cash and Cash Equivalents (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash and cash equivalents [abstract]
Cash at bank and on hand	$ 316	$ 532
Short-term bank deposits	362	329
Cash and cash equivalents	$ 678	$ 861	$ 2,471	$ 2,676

Cash and Cash Equivalents - Add

Cash and Cash Equivalents - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Cash and cash equivalents [Member]
Cash and cash equivalents [Line Items]
Maximum exposure to credit risk	$ 564	$ 747
Bottom of range [member]
Cash and cash equivalents [Line Items]
Effective interest rate, short-term bank deposits, classified as cash equivalents	0.10%	0.10%
Maturity date, short-term bank deposits, classified as cash equivalents	5 days	5 days
Top of range [member]
Cash and cash equivalents [Line Items]
Effective interest rate, short-term bank deposits, classified as cash equivalents	1.00%	1.00%
Maturity date, short-term bank deposits, classified as cash equivalents	28 days	19 days

Disclosure of Detailed Inform_4

Disclosure of Detailed Information About Classes of Share Capital (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of classes of share capital [line items]
Par value per share	$ 0.01	$ 0.01	$ 0.01	$ 0.01
Share capital, opening balance	$ 81
Share capital, ending balance	$ 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	8,090,118,766	8,088,352,216	8,080,603,691
Number of shares issued during the year, upon exercise of stock options	3,070,100	1,766,550	7,748,525
Number of shares issued and fully paid, ending balance	8,093,188,866	8,090,118,766	8,088,352,216
Authorized capital	$ 160	$ 160	$ 160	$ 160
Share capital, opening balance	81	81	81
Equity issued during the year upon exercise of share options	0	0	0
Share capital, ending balance	$ 81	$ 81	$ 81

Trade and Other Payables (Detai

Trade and Other Payables (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Trade and other payables [abstract]
Trade payables	$ 31	$ 51
Customer deposits and other deferred revenue	401	412
Construction payables and accruals	188	316
Interest payables	141	156
Accrued employee benefit expenses	134	136
Other tax payables	115	118
Outstanding chips liability	65	189
Loyalty program liability	26	28
Casino liabilities	21	22
Payables to related companies - non-trade	5	3
Other payables and accruals	56	62
Trade and other payables	1,183	1,493
Trade and other non-current payables	(112)	(105)
Trade and other current payables	$ 1,071	$ 1,388

Trade and Other Payables Trade

Trade and Other Payables Trade Payables Aging (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Trade payables aging [Line Items]
Trade payables	$ 31	$ 51
0–30 days
Trade payables aging [Line Items]
Trade payables	22	31
31–60 days
Trade payables aging [Line Items]
Trade payables	7	15
61–90 days
Trade payables aging [Line Items]
Trade payables	1	3
Over 90 days
Trade payables aging [Line Items]
Trade payables	$ 1	$ 2

Explanation of Significant Chan

Explanation of Significant Changes in Contract Liabilities (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2021		Dec. 31, 2020	Dec. 31, 2019
Outstanding Chips Liability [Member]
Explanation of significant changes in contract liabilities [Line Items]
Contract liabilities		$ 65		$ 189	$ 485
Change in contract liabilities		(124)	[1]	(296)
Loyalty Program Liability [Member]
Explanation of significant changes in contract liabilities [Line Items]
Contract liabilities		26		28	31
Change in contract liabilities		(2)		(3)
Customer Deposits and Other Deferred Revenue [Member]
Explanation of significant changes in contract liabilities [Line Items]
Contract liabilities	[2]	401		412	395
Change in contract liabilities	[2]	(11)		17
Customer Deposits and Other Deferred Revenue [Member] \| Mall [Member]
Explanation of significant changes in contract liabilities [Line Items]
Contract liabilities	[2]	$ 118		$ 125	$ 129

[1]	The decrease noted in outstanding chip liability in 2021 primarily resulted from the closure of the fixed room junket operations in December 2021.
[2]	Of this amount, US$129 million, US$125 million and US$118 million as at January 1, 2020, December 31, 2020, and December 31, 2021, respectively, related to mall deposits that were accounted for based on lease terms usually greater than one year.

Disclosure of Detailed Inform_5

Disclosure of Detailed Information About Borrowings (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Non-current portion
Senior Notes, unsecured	$ 7,150	$ 7,000
Line of credit, balance outstanding	753	0
Lease liabilities	124	124
Non-current portion of other non-current borrowings	2	0
Non-current portion of non-current borrowings, including deferred financing costs	8,029	7,124
Less: deferred financing costs	(83)	(80)
Non-current portion of non-current borrowings	7,946	7,044
Current portion
Lease liabilities	17	21
Other current borrowings and current portion of other non-current borrowings	1	0
Current portion of non-current borrowings	18	21
Total borrowings	$ 7,964	$ 7,065

Borrowings - Additional Informa

Borrowings - Additional Information (Details) $ in Millions, $ in Millions	Mar. 15, 2022USD ($)	Mar. 15, 2022HKD ($)	Jan. 25, 2021USD ($)	Jan. 25, 2021HKD ($)	Nov. 20, 2018USD ($)	Dec. 31, 2021USD ($)	Dec. 31, 2021HKD ($)	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2021HKD ($)	Sep. 23, 2021USD ($)	Dec. 31, 2020HKD ($)	Sep. 11, 2020USD ($)	Jun. 04, 2020USD ($)	Mar. 27, 2020	Aug. 09, 2018USD ($)
Disclosure of detailed information about borrowings [line items]
Borrowings						$ 7,964		$ 7,065
Make-whole premium on early retirement of debt						131		0	$ 0
Write off of deferred debt issuance cost						6
Proceeds from bank loans						756		403	$ 0
SCL Senior Notes [Member]
Disclosure of detailed information about borrowings [line items]
Fair value of long-term borrowings						7,270		7,770
2023, 2025 and 2028 SCL Senior Notes [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings																$ 5,500
2023 Notes [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings																$ 1,800
Borrowings, interest rate																4.60%
Repayment of 2023 Notes											$ 1,800
Make-whole premium on early retirement of debt						$ 131
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
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%
2027, 2029 and 2031 SCL Senior Notes [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings											1,950
2027 Notes [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings											$ 700
Borrowings, interest rate											2.30%
2029 Notes [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings											$ 650
Borrowings, interest rate											2.85%
2031 Notes [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings											$ 600
Borrowings, interest rate											3.25%
2018 SCL Credit Facility [Member]
Disclosure of detailed information about borrowings [line items]
Maximum leverage ratio					4										4
Minimum interest coverage ratio					2.5
Debt instrument, ratio of indebtedness to adjusted EBITDA, temporarily waived						4				4					4
Debt instrument, ratio of adjusted EBITDA to Net interest expense, temporarily waived						2.5				2.5					2.50
Line of credit, additional borrowing capacity option						$ 1,000							$ 1,000
Line of credit, maximum borrowing capacity for dividends, temporary						$ 2,000							$ 2,000
Debt instrument, ratio of indebtedness to adjusted EBITDA, maximum ratio, dividend payments, temporary						4				4			4
Minimum cash and undrawn amount of 2018 SCL Credit Facility required after dividend payments, temporary						$ 2,000							$ 2,000
Line of credit facility, increase (decrease), net			$ 491	$ 3,830
Weighted average interest rate						2.60%	2.60%
Undrawn borrowing facilities						$ 1,750		2,020
2018 SCL Credit Facility [Member] \| Entering into significant commitments or contingent liabilities [member]
Disclosure of detailed information about borrowings [line items]
Undrawn borrowing facilities	$ 1,540
2018 SCL Credit Facility [Member] \| Hong Kong, Dollars [Member]
Disclosure of detailed information about borrowings [line items]
Proceeds from bank loans						681	$ 5,310
Undrawn borrowing facilities						1,580		1,780		$ 12,320		$ 13,810
2018 SCL Credit Facility [Member] \| Hong Kong, Dollars [Member] \| Entering into significant commitments or contingent liabilities [member]
Disclosure of detailed information about borrowings [line items]
Proceeds from bank loans	182	$ 1,420
2018 SCL Credit Facility [Member] \| United States of America, Dollars [Member]
Disclosure of detailed information about borrowings [line items]
Proceeds from bank loans						71
Undrawn borrowing facilities						166		$ 237
2018 SCL Credit Facility [Member] \| United States of America, Dollars [Member] \| Entering into significant commitments or contingent liabilities [member]
Disclosure of detailed information about borrowings [line items]
Proceeds from bank loans	$ 19
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						$ 1,750
2018 SCL General Revolving Loan [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings, adjustment to interest rate basis					2.00%
2018 SCL Swing-Line Loan Sub-Facility [Member]
Disclosure of detailed information about borrowings [line items]
Borrowings, adjustment to interest rate basis					1.00%

Borrowings Disclosure of Reconc

Borrowings Disclosure of Reconciliation of Liabilities Arising From Financing Activities (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		$ 7,221	$ 5,691
Increase (decrease) through financing cash flows, liabilities arising from financing activities		485	225
Increase (decrease) through original issue discount, liabilities arising from financing activities		0	0
Increase (decrease) through other changes, liabilities arising from financing activities		374	1,316
Increase (decrease) through changes in amortization, liabilities arising from financing activities		23	17
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities		(4)	7
Increase (decrease) through changes in fair values, liabilities arising from financing activities			(35)
Increase (decrease) through changes in loss on early retirement of debt, liabilities arising from financing activities		6
Liabilities arising from financing activities, ending balance		8,105	7,221	$ 5,691
Proceeds from Senior Notes		1,946	1,496	0
Repayment of 2023 Notes		1,800	0	0
2027, 2029 and 2031 SCL Senior Notes [Member]
Disclosure of detailed information about borrowings [line items]
Proceeds from Senior Notes	[1]	1,950
2023 Notes [Member]
Disclosure of detailed information about borrowings [line items]
Repayment of 2023 Notes	[1]	1,800
SCL Senior Notes [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[1]	7,000	5,535
Increase (decrease) through financing cash flows, liabilities arising from financing activities	[1]	146	1,496
Increase (decrease) through original issue discount, liabilities arising from financing activities	[1]	4	4
Increase (decrease) through other changes, liabilities arising from financing activities	[1]	0	0
Increase (decrease) through changes in amortization, liabilities arising from financing activities	[1]	0	0
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities	[1]	0	0
Increase (decrease) through changes in fair values, liabilities arising from financing activities	[1]		(35)
Increase (decrease) through changes in loss on early retirement of debt, liabilities arising from financing activities	[1]	0
Liabilities arising from financing activities, ending balance	[1]	7,150	7,000	5,535
Bank loans [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[2]	0	0
Increase (decrease) through financing cash flows, liabilities arising from financing activities	[2]	756	(1)
Increase (decrease) through original issue discount, liabilities arising from financing activities	[2]	0	0
Increase (decrease) through other changes, liabilities arising from financing activities	[2]	0	0
Increase (decrease) through changes in amortization, liabilities arising from financing activities	[2]	0	0
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities	[2]	(3)	1
Increase (decrease) through changes in fair values, liabilities arising from financing activities	[2]		0
Increase (decrease) through changes in loss on early retirement of debt, liabilities arising from financing activities	[2]	0
Liabilities arising from financing activities, ending balance	[2]	753	0	0
Lease liabilities [member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		145	147
Increase (decrease) through financing cash flows, liabilities arising from financing activities		(12)	(11)
Increase (decrease) through original issue discount, liabilities arising from financing activities		0	0
Increase (decrease) through other changes, liabilities arising from financing activities		8	9
Increase (decrease) through changes in amortization, liabilities arising from financing activities		0	0
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities		0	0
Increase (decrease) through changes in fair values, liabilities arising from financing activities			0
Increase (decrease) through changes in loss on early retirement of debt, liabilities arising from financing activities		0
Liabilities arising from financing activities, ending balance		141	145	147
Deferred financing costs [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		(80)	(74)
Increase (decrease) through financing cash flows, liabilities arising from financing activities		(27)	(20)
Increase (decrease) through original issue discount, liabilities arising from financing activities		(4)	(4)
Increase (decrease) through other changes, liabilities arising from financing activities		(1)	0
Increase (decrease) through changes in amortization, liabilities arising from financing activities		23	17
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities		0	1
Increase (decrease) through changes in fair values, liabilities arising from financing activities			0
Increase (decrease) through changes in loss on early retirement of debt, liabilities arising from financing activities		6
Liabilities arising from financing activities, ending balance		(83)	(80)	(74)
Interest payables [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance	[3]	156	83
Increase (decrease) through financing cash flows, liabilities arising from financing activities	[3]	(378)	(209)
Increase (decrease) through original issue discount, liabilities arising from financing activities	[3]	0	0
Increase (decrease) through other changes, liabilities arising from financing activities	[3]	364	282
Increase (decrease) through changes in amortization, liabilities arising from financing activities	[3]	0	0
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities	[3]	(1)	0
Increase (decrease) through changes in fair values, liabilities arising from financing activities	[3]		0
Increase (decrease) through changes in loss on early retirement of debt, liabilities arising from financing activities	[3]	0
Liabilities arising from financing activities, ending balance	[3]	141	156	83
Other borrowings [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		0	0
Increase (decrease) through financing cash flows, liabilities arising from financing activities		0	0
Increase (decrease) through original issue discount, liabilities arising from financing activities		0	0
Increase (decrease) through other changes, liabilities arising from financing activities		3	0
Increase (decrease) through changes in amortization, liabilities arising from financing activities		0	0
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities		0	0
Increase (decrease) through changes in fair values, liabilities arising from financing activities			0
Increase (decrease) through changes in loss on early retirement of debt, liabilities arising from financing activities		0
Liabilities arising from financing activities, ending balance		3	0	0
Dividend payables [Member]
Disclosure of detailed information about borrowings [line items]
Liabilities arising from financing activities at, opening balance		0	0
Increase (decrease) through financing cash flows, liabilities arising from financing activities		0	(1,030)
Increase (decrease) through original issue discount, liabilities arising from financing activities		0	0
Increase (decrease) through other changes, liabilities arising from financing activities		0	1,025
Increase (decrease) through changes in amortization, liabilities arising from financing activities		0	0
Increase (decrease) through effect of changes in foreign exchange rates, liabilities arising from financing activities		0	5
Increase (decrease) through changes in fair values, liabilities arising from financing activities			0
Increase (decrease) through changes in loss on early retirement of debt, liabilities arising from financing activities		0
Liabilities arising from financing activities, ending balance		$ 0	$ 0	$ 0

[1]	During the year ended December 31, 2021, cash flows from Senior Notes consisted of proceeds from Senior Notes of US$1.95 billion and repayment of 2023 Notes of US$1.80 billion.
[2]	Cash flows from bank loans were net of proceeds and repayments in the statement of cash flows.
[3]	As at January, 2020, net interest payables represented the net of interest payables and interest rate swap receivables. During the year ended December 31, 2020, cash flows from net interest payables represented the net of interest income received from interest rate swaps and interest payment made. The interest rate swaps expired in August 2020.

Derivative Financial instrume_2

Derivative Financial instruments - Additional Information (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Aug. 31, 2018
Disclosure of detailed information about hedging instruments [line items]
Cash flow hedge fair value adjustment	$ (4)	$ 0	$ 0
Fair value gain on derivative financial instruments	1	0	0
Currency swap contract [member]
Disclosure of detailed information about hedging instruments [line items]
Notional amount	500
Currency swap contract [member] \| Interest expense [Member]
Disclosure of detailed information about hedging instruments [line items]
Fair value gain on derivative financial instruments	1
Currency swap contract [member] \| Other assets, net, current [Member]
Disclosure of detailed information about hedging instruments [line items]
Financial assets, at fair value	$ 2
Currency swap contract [member] \| Cash flow hedges [member]
Disclosure of detailed information about hedging instruments [line items]
Nominal amount of hedging instrument	1,000
Cash flow hedge fair value adjustment	$ (4)
Interest rate swap contract [member] \| Fair value hedges [member]
Disclosure of detailed information about hedging instruments [line items]
Notional amount				$ 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		$ 53	$ 23

Cash Generated From Operations

Cash Generated From Operations (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Statement of cash flows [abstract]
Profit (Loss) before income tax	$ (1,045)	$ (1,507)	$ 2,033
Adjustments for interest income	(2)	(11)	(38)
Adjustments for interest and other finance costs	350	261	265
Adjustments for depreciation and amortisation expense	733	684	706
Amortization of deferred financing costs	23	17	15
Adjustments for amortization of deferred rent	10	9	13
Adjustments for amortization of other assets	3	3	3
(Gain) loss on Disposal of Assets excluding cash	8	39	16
Impairment loss on property and equipment	0	0	65
Adjustments for loss on modification or early retirement of debt	137	0	0
Additional allowance recognised in profit or loss, allowance account for credit losses of financial assets	3	52	24
Adjustments for equity-settled share-based compensation expense, net of amounts capitalized	5	9	13
Adjustments for (gains) losses on change in fair value of derivatives	(1)	0	0
Adjustments for unrealised foreign exchange losses (gains)	36	(18)	(34)
Changes in other assets	3	0	(5)
Changes in inventories	0	2	(2)
Changes in trade and other receivables and prepayments	(11)	216	(65)
Changes in trade and other payables	(159)	(567)	(191)
Cash generated from operations	$ 93	$ (811)	$ 2,818

Capital Commitments (Details)

Capital Commitments (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Commitments and contingencies [Abstract]
Contracted but not provided for	$ 75	$ 385

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021MOP (MOP$)	Dec. 31, 2021USD ($)
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
Gaming tax on gross gaming revenues [Member]
Concession and subconcession [Line Items]
Gaming tax rates	35.00%	35.00%
Additional tax on gross gaming revenues [Member]
Concession and subconcession [Line Items]
Gaming tax rates	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	$ 37,344
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	18,672
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)	1,000	124
Not later than one year [member]
Concession and subconcession [Line Items]
Future gaming license extension fee	MOP$ 47000000	6,000,000
Subconcession minimum future payments		$ 22,000,000

Related Party Transactions Mana

Related Party Transactions Management Fee Income (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of transactions between related parties [line items]
Management fee income	$ 4	$ 4	$ 5
LVS
Disclosure of transactions between related parties [line items]
Management fee income	1	0	0
Fellow subsidiaries
Disclosure of transactions between related parties [line items]
Management fee income	$ 3	$ 4	$ 5

Related Party Transactions Ma_2

Related Party Transactions Management Fee Expense (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Disclosure of transactions between related parties [line items]
Management fee expense	$ 21	$ 13	$ 26
LVS
Disclosure of transactions between related parties [line items]
Management fee expense	16	10	19
Fellow subsidiaries
Disclosure of transactions between related parties [line items]
Management fee expense	$ 5	$ 3	$ 7

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Details) - USD ($)		12 Months Ended			38 Months Ended
		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2012
Disclosure of transactions between related parties [line items]
Management fee expense		$ 21,000,000	$ 13,000,000	$ 26,000,000
Services received, deferred financing costs capitalized, related party transactions		4,000,000
Services received, prepayments capitalized, related party transactions		1,000,000
Services received, net of amounts capitalized, related party transactions	[1]	16,000,000	13,000,000	23,000,000
Royalty fees		$ 43,000,000	22,000,000	113,000,000
Related parties [member]
Disclosure of transactions between related parties [line items]
Average credit period, receivables		45 days
Average credit period, payables		45 days
Corporate expense [Member]
Disclosure of transactions between related parties [line items]
Royalty fees		$ 42,000,000	$ 22,000,000	$ 110,000,000
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

[1]	Total management fees for the years ended December 31, 2019, 2020 and 2021 included US$24 million, US$3 million and US$3 million charged by third parties and US$23 million, US$13 million and US$16 million charged by related parties, net of amounts capitalized, respectively. Refer to Note 25(a)(ii) for further information.

Related Party Transactions Rela

Related Party Transactions Related Party Balances (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Disclosure of transactions between related parties [line items]
Payables to related companies	$ 5	$ 3
LVS
Disclosure of transactions between related parties [line items]
Receivables due from fellow subsidiaries	0	1
Payables to related companies	1	0
Intermediate holding company
Disclosure of transactions between related parties [line items]
Payables to related companies	$ 4	$ 3

Share-Based Compensation - Addi

Share-Based Compensation - Additional Information (Details) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)shares$ / shares	Dec. 31, 2020USD ($)shares$ / shares	Dec. 31, 2019USD ($)shares$ / shares	Dec. 31, 2018shares$ / shares
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of share options exercised in share-based payment arrangement		0	0
2009 SCL Equity Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares authorised	804,786,508
Weighted average share price at the date of exercise for share options exercised during period \| $ / shares	$ 4.86	$ 4.41	$ 5.26
2009 SCL Equity Plan [Member] \| Cash-settled restricted stock units [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Liabilities from share-based payment transactions \| $	$ 8	$ 7
2009 SCL Equity Plan [Member] \| Share options [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted (in shares)	0	0	19,410,000
Number of share options exercised in share-based payment arrangement	3,070,000	1,766,000	7,749,000
Number of options outstanding	48,180,000	54,418,000	64,874,000	57,382,000
Weighted average exercise price of share options outstanding in share-based payment arrangement \| $ / shares	$ 5.01	$ 4.96	$ 4.99	$ 4.81
Exercisable at the end of the period (in shares)	37,620,000	32,903,000	22,214,000
Weighted average exercise price of share options exercisable in share-based payment arrangement \| $ / shares	$ 4.94	$ 4.85	$ 5.10
Granted, weighted average exercise price (in usd per share) \| $ / shares	$ 0	$ 0	$ 5.08
2019 SCL Equity Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of shares available for grant	808,619,139
Granted (in shares)	0
LVSC 2004 Equity Plan [Member] \| Share options [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Granted (in shares)	0	33,768	41,546
Number of share options exercised in share-based payment arrangement	0
Number of share options expired in share-based payment arrangement	0	0	0
Number of options outstanding	132,525	132,525	98,757
Weighted average exercise price of share options outstanding in share-based payment arrangement \| $ / shares	$ 65.53	$ 65.53	$ 63.97
Exercisable at the end of the period (in shares)	96,165	63,233	30,314
Weighted average exercise price of share options exercisable in share-based payment arrangement \| $ / shares	$ 65.68	$ 65.34	$ 66.82
Granted, weighted average exercise price (in usd per share) \| $ / shares		$ 70.06	$ 57.05
Share-based expense allocated \| $	$ 0.1	$ 0.3	$ 0.3
LVSC 2004 Equity Plan [Member] \| Restricted stock units [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Share-based expense allocated \| $	$ 0.4
Number of other equity instruments granted in share-based payment arrangement	56,946	0
Weighted average exercise price of other equity instruments granted in share-based payment arrangement \| $ / shares	$ 41.27
Number of other equity instruments exercised or vested in share-based payment arrangement	0
Number of other equity instruments forfeited in share-based payment arrangement	0
Number of other equity instruments outstanding in share-based payment arrangement	56,946	0
Weighted average exercise price of other equity instruments outstanding in share-based payment arrangement \| $ / shares	$ 41.27
SCL Equity Plan [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Gain/(loss) on remeasurement of cash settled restricted share units \| $	$ (8)
SCL Equity Plan [Member] \| Top of range [member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Gain/(loss) on remeasurement of cash settled restricted share units \| $		$ (1)	$ 1
SCL Equity Plan [Member] \| Restricted stock units [Member]
Disclosure of terms and conditions of share-based payment arrangement [line items]
Number of other equity instruments granted in share-based payment arrangement	13,040,000	2,337,000	1,412,000
Weighted average exercise price of other equity instruments granted in share-based payment arrangement \| $ / shares	$ 3.22	$ 4.11	$ 4.99
Number of other equity instruments exercised or vested in share-based payment arrangement	961,000	244,000	0
Number of other equity instruments forfeited in share-based payment arrangement	120,000	137,000	5,000
Number of other equity instruments outstanding in share-based payment arrangement	15,322,000	3,363,000	1,407,000	0
Weighted average exercise price of other equity instruments outstanding in share-based payment arrangement \| $ / shares	$ 3.40	$ 4.44	$ 4.99	$ 0

Summary of share option activit

Summary of share option activity, SCL Equity Plan (Details)	12 Months Ended
Summary of share option activity, SCL Equity Plan (Details)	Dec. 31, 2021shares$ / shares	Dec. 31, 2020shares$ / shares	Dec. 31, 2019shares$ / shares
Disclosure of number and weighted average exercise prices of share options [Line Items]
Exercised (in shares)		0	0
2009 SCL Equity Plan [Member] \| Share options [Member]
Disclosure of number and weighted average exercise prices of share options [Line Items]
Outstanding beginning balance (in shares)	54,418,000	64,874,000	57,382,000
Granted (in shares)	0	0	19,410,000
Exercised (in shares)	(3,070,000)	(1,766,000)	(7,749,000)
Forfeited (in shares)	(3,168,000)	(8,690,000)	(4,169,000)
Outstanding ending balance (in shares)	48,180,000	54,418,000	64,874,000
Exercisable at the end of the period (in shares)	37,620,000	32,903,000	22,214,000
Outstanding, beginning balance, weighted average exercise price (in usd per share) \| $ / shares	$ 4.96	$ 4.99	$ 4.81
Granted, weighted average exercise price (in usd per share) \| $ / shares	0	0	5.08
Exercised, weighted average exercise price (in usd per share) \| $ / shares	3.91	3.41	3.65
Forfeited, weighted average exercise price (in usd per share) \| $ / shares	5.32	5.51	5.35
Outstanding, ending balance, weighted average exercise price (in usd per share) \| $ / shares	5.01	4.96	4.99
Weighted average exercise price of share options exercisable in share-based payment arrangement \| $ / shares	$ 4.94	$ 4.85	$ 5.10

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, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	48,180	54,418	64,874	57,382
Weighted average remaining contractual life	5 years 6 months 21 days	6 years 6 months 10 days	7 years 5 months 26 days
1.01 - 2.00 [Member]
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	0	0	210
Weighted average remaining contractual life			5 months 1 day
2.01 - 3.00 [Member]
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	0	76	76
Weighted average remaining contractual life		10 months 6 days	1 year 10 months 9 days
3.01 - 4.00 [Member]
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	8,392	9,783	11,045
Weighted average remaining contractual life	3 years 10 months 13 days	4 years 10 months 6 days	5 years 10 months 17 days
4.01 - 5.00 [Member]
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	11,066	13,394	16,092
Weighted average remaining contractual life	5 years 4 months 17 days	6 years 4 months 2 days	7 years 4 months 28 days
5.01 - 6.00 [Member]
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	24,433	26,587	31,292
Weighted average remaining contractual life	6 years 8 months 1 day	7 years 8 months 4 days	8 years 7 months 24 days
6.01 - 7.00 [Member]
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	1,758	1,851	2,023
Weighted average remaining contractual life	4 years 1 month 17 days	5 years 2 months 26 days	6 years 5 months 1 day
7.01 - 8.00 [Member]
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	1,288	1,288	2,098
Weighted average remaining contractual life	2 years 3 months 7 days	3 years 3 months 7 days	4 years 3 months 25 days
8.01 - 9.00 [Member]
Disclosure of range of exercise prices of outstanding share options [line items]
Number of options outstanding	1,243	1,439	2,038
Weighted average remaining contractual life	2 years 2 months 15 days	3 years 2 months 15 days	4 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, 2021$ / shares	Dec. 31, 2020$ / shares	Dec. 31, 2019USD ($)yr$ / shares
Disclosure of indirect measurement of fair value of goods or services received, share options granted during period [Line Items]
Expected volatility			36.90%
Expected life (years) \| yr			4.8
Risk-free annual interest rate			1.70%
Expected dividends			5.00%
Weighted average share price at the date of grant (US$)			$ 5.06
Weighted average exercise price (US$)	$ 0	$ 0	$ 5.08
Weighted average fair value of each share option granted by the Company (US$) \| $			$ 1.03

Disclosure of number and weight

Disclosure of number and weighted average exercise prices of other equity instruments (Details) - SCL Equity Plan [Member] - Restricted stock units [Member] shares in Thousands	12 Months Ended
	Dec. 31, 2021shares$ / shares	Dec. 31, 2020shares$ / shares	Dec. 31, 2019shares$ / shares	Dec. 31, 2018shares
Summary of restricted share units activity [Line Items]
Unvested beginning balance (in shares) \| shares	15,322	3,363	1,407	0
Granted (in shares) \| shares	13,040	2,337	1,412
Vested (in shares) \| shares	(961)	(244)	0
Forfeited (in shares) \| shares	(120)	(137)	(5)
Unvested ending balance (in shares) \| shares	15,322	3,363	1,407
Unvested, weighted average grant date fair value, beginning balance (in usd per share) \| $ / shares	$ 4.44	$ 4.99	$ 0
Weighted average exercise price of other equity instruments granted in share-based payment arrangement \| $ / shares	3.22	4.11	4.99
Vested, weighted average grant date fair value (in usd per share) \| $ / shares	4.46	4.09	0
Weighted average exercise price of other equity instruments forfeited in share-based payment arrangement \| $ / shares	4.53	4.97	4.99
Unvested, weighted average grant date fair value, ending balance (in usd per share) \| $ / shares	$ 3.40	$ 4.44	$ 4.99

Financial Risk Management - Add

Financial Risk Management - Additional Information (Details) $ in Millions	Dec. 31, 2021USD ($)	Dec. 31, 2020USD ($)	Mar. 27, 2020	Dec. 31, 2019USD ($)	Nov. 20, 2018
Disclosure of nature and extent of risks arising from financial instruments [line items]
Carrying value of long-term borrowings	$ 7,964	$ 7,065
2018 SCL Credit Facility [Member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Debt instrument, ratio of indebtedness to adjusted EBITDA, temporarily waived	4		4
Debt instrument, ratio of adjusted EBITDA to Net interest expense, temporarily waived	2.5		2.50
Maximum leverage ratio			4		4
Currency risk [member] \| United States of America, Dollars [Member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure	$ 53	67		$ 49
Fixed interest rate [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Carrying value of long-term borrowings	7,150	7,000
Fixed interest rate [member] \| Interest rate risk [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure	366	362
Floating interest rate [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Carrying value of long-term borrowings	753
Floating interest rate [member] \| Interest rate risk [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Risk exposure	7
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	7,270	$ 7,770
Long-term borrowings [member] \| Level 2 of fair value hierarchy [member] \| Floating interest rate [member]
Disclosure of nature and extent of risks arising from financial instruments [line items]
Fair value of long-term borrowings	$ 753

Disclosure of financial assets

Disclosure of financial assets and financial liabilities by currency (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of financial assets and financial liabilities by currency [Line Items]
Restricted cash and cash equivalents	$ 16	$ 16
Cash and cash equivalents	678	861	$ 2,471	$ 2,676
Financial assets at amortised cost	825	1,010
Financial assets at fair value through other comprehensive income	827
Borrowings	7,964	7,065
Financial liabilities at amortised cost	8,827	8,230
Financial assets at amortised cost, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Trade and other receivables, net	129	131
Restricted cash and cash equivalents	16	16
Cash and cash equivalents	678	861
Deposits	2	2
Financial liabilities at amortised cost, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Trade and other payables	863	1,165
Borrowings	7,964	7,065
Financial assets at fair value through other comprehensive income, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Derivative financial assets	2
Hong Kong, Dollars [Member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Financial assets at amortised cost	644	557
Financial assets at fair value through other comprehensive income	644
Financial liabilities at amortised cost	389	517
Hong Kong, Dollars [Member] \| Financial assets at amortised cost, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Trade and other receivables, net	111	118
Restricted cash and cash equivalents	0	0
Cash and cash equivalents	532	438
Deposits	1	1
Hong Kong, Dollars [Member] \| Financial liabilities at amortised cost, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Trade and other payables	380	513
Borrowings	9	4
Hong Kong, Dollars [Member] \| Financial assets at fair value through other comprehensive income, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Derivative financial assets	0
United States of America, Dollars [Member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Financial assets at amortised cost	80	284
Financial assets at fair value through other comprehensive income	82
Financial liabilities at amortised cost	7,943	7,063
United States of America, Dollars [Member] \| Financial assets at amortised cost, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Trade and other receivables, net	4	4
Restricted cash and cash equivalents	0	0
Cash and cash equivalents	76	280
Deposits	0	0
United States of America, Dollars [Member] \| Financial liabilities at amortised cost, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Trade and other payables	121	143
Borrowings	7,822	6,920
United States of America, Dollars [Member] \| Financial assets at fair value through other comprehensive income, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Derivative financial assets	2
Macau, Patacas [Member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Financial assets at amortised cost	88	156
Financial assets at fair value through other comprehensive income	88
Financial liabilities at amortised cost	491	644
Macau, Patacas [Member] \| Financial assets at amortised cost, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Trade and other receivables, net	14	9
Restricted cash and cash equivalents	16	16
Cash and cash equivalents	57	130
Deposits	1	1
Macau, Patacas [Member] \| Financial liabilities at amortised cost, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Trade and other payables	359	505
Borrowings	132	139
Macau, Patacas [Member] \| Financial assets at fair value through other comprehensive income, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Derivative financial assets	0
China, Yuan Renminbi [Member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Financial assets at amortised cost	11	11
Financial assets at fair value through other comprehensive income	11
Financial liabilities at amortised cost	4	5
China, Yuan Renminbi [Member] \| Financial assets at amortised cost, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Trade and other receivables, net	0	0
Restricted cash and cash equivalents	0	0
Cash and cash equivalents	11	11
Deposits	0	0
China, Yuan Renminbi [Member] \| Financial liabilities at amortised cost, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Trade and other payables	3	3
Borrowings	1	2
China, Yuan Renminbi [Member] \| Financial assets at fair value through other comprehensive income, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Derivative financial assets	0
Other currencies
Disclosure of financial assets and financial liabilities by currency [Line Items]
Financial assets at amortised cost	2	2
Financial assets at fair value through other comprehensive income	2
Financial liabilities at amortised cost	0	1
Other currencies \| Financial assets at amortised cost, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Trade and other receivables, net	0	0
Restricted cash and cash equivalents	0	0
Cash and cash equivalents	2	2
Deposits	0	0
Other currencies \| Financial liabilities at amortised cost, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Trade and other payables	0	1
Borrowings	0	$ 0
Other currencies \| Financial assets at fair value through other comprehensive income, category [member]
Disclosure of financial assets and financial liabilities by currency [Line Items]
Derivative financial assets	$ 0

Disclosure of Maturity Analysis

Disclosure of Maturity Analysis for Financial Liabilities (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Senior Notes principal, undiscounted cash flows	$ 7,150	$ 7,000
Interest, undiscounted cash flows		1,992
Bank borrowings, undiscounted cash flows	753
Other borrowings, undiscounted cashflows	3
Lease liabilities, undiscounted cash flows	351	357
Trade and other payables, undiscounted cash flows	863	1,165
SCL Senior Notes [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Interest, undiscounted cash flows	1,903
Bank borrowings [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Interest, undiscounted cash flows	32
Other borrowings [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Interest, undiscounted cash flows	1
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
Interest, undiscounted cash flows		342
Bank borrowings, undiscounted cash flows	0
Other borrowings, undiscounted cashflows	1
Lease liabilities, undiscounted cash flows	19	22
Trade and other payables, undiscounted cash flows	767	1,079
Not later than one year [member] \| SCL Senior Notes [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Interest, undiscounted cash flows	306
Not later than one year [member] \| Bank borrowings [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Interest, undiscounted cash flows	20
Not later than one year [member] \| Other borrowings [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Interest, undiscounted cash flows	0
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
Interest, undiscounted cash flows		339
Bank borrowings, undiscounted cash flows	753
Other borrowings, undiscounted cashflows	1
Lease liabilities, undiscounted cash flows	15	13
Trade and other payables, undiscounted cash flows	24	25
Later than one year and not later than two years [member] \| SCL Senior Notes [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Interest, undiscounted cash flows	310
Later than one year and not later than two years [member] \| Bank borrowings [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Interest, undiscounted cash flows	12
Later than one year and not later than two years [member] \| Other borrowings [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Interest, undiscounted cash flows	1
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	2,600	3,600
Interest, undiscounted cash flows		850
Bank borrowings, undiscounted cash flows	0
Other borrowings, undiscounted cashflows	1
Lease liabilities, undiscounted cash flows	21	19
Trade and other payables, undiscounted cash flows	42	36
Later than three years and not later than five years [member] \| SCL Senior Notes [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Interest, undiscounted cash flows	823
Later than three years and not later than five years [member] \| Bank borrowings [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Interest, undiscounted cash flows	0
Later than three years and not later than five years [member] \| Other borrowings [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Interest, undiscounted cash flows	0
Later than five years [member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Senior Notes principal, undiscounted cash flows	4,550	3,400
Interest, undiscounted cash flows		461
Bank borrowings, undiscounted cash flows	0
Other borrowings, undiscounted cashflows	0
Lease liabilities, undiscounted cash flows	296	303
Trade and other payables, undiscounted cash flows	30	$ 25
Later than five years [member] \| SCL Senior Notes [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Interest, undiscounted cash flows	464
Later than five years [member] \| Bank borrowings [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Interest, undiscounted cash flows	0
Later than five years [member] \| Other borrowings [Member]
Disclosure of maturity analysis for non-derivative financial liabilities [line items]
Interest, undiscounted cash flows	$ 0

Disclosure of Capital Risk Mana

Disclosure of Capital Risk Management (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disclosure of nature and extent of risks arising from financial instruments [line items]
Interest bearing borrowings, net of deferred financing costs	$ 7,820	$ 6,920
Cash and cash equivalents	(678)	(861)	$ (2,471)	$ (2,676)
Restricted cash and cash equivalents	(16)	(16)
Net debt	7,126	6,043
Total equity	888	1,929	$ 4,446	$ 4,409
Total capital	$ 8,014	$ 7,972
Gearing ratio	88.90%	75.80%

Company Balance Sheet (Details)

Company Balance Sheet (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Non-current assets
Other assets, net	$ 26	$ 32
Total non-current assets	9,202	9,466
Current assets
Trade and other receivables and prepayments, net	183	190
Cash and cash equivalents	678	861	$ 2,471	$ 2,676
Total current assets	892	1,082
Total assets	10,094	10,548
EQUITY
Share capital	81	81
Reserves	807	1,848
Total equity	888	1,929	$ 4,446	$ 4,409
Non-current liabilities
Borrowings	7,964	7,065
Total non-current liabilities	8,112	7,205
Current liabilities
Total liabilities	9,206	8,619
Total equity and liabilities	10,094	10,548
Net current liabilities	(202)	(332)
Total assets less current liabilities	9,000	9,134
Parent Company [Member]
Non-current assets
Interests in subsidiaries	1,154	1,144
Note receivable from a subsidiary	8,651	7,782
Other assets, net	2	0
Total non-current assets	9,807	8,926
Current assets
Trade and other receivables and prepayments, net	57	59
Cash and cash equivalents	12	6
Total current assets	69	65
Total assets	9,876	8,991
EQUITY
Share capital	81	81
Reserves	1,854	1,851
Total equity	1,935	1,932
Non-current liabilities
Borrowings	7,820	6,920
Other payables	0	3
Total non-current liabilities	7,820	6,923
Current liabilities
Other payables	121	136
Total liabilities	7,941	7,059
Total equity and liabilities	9,876	8,991
Net current liabilities	(52)	(71)
Total assets less current liabilities	$ 9,755	$ 8,855

Company Balance Sheet Movement

Company Balance Sheet Movement of Reserves (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Beginning balance	$ 1,929	$ 4,446	$ 4,409
(Loss) Profit for the period	(1,048)	(1,523)	2,033
Other comprehensive income (expense) for the period	(6)	16	16
Total comprehensive (expense) income	(1,058)	(1,507)	2,049
Exercise of share options	12	6	28
Share-based compensation of the Company	4	9	14
Dividends to equity holders of the Company		(1,025)	(2,054)
Ending balance	888	1,929	4,446
Cash flow hedge fair value adjustment	(4)	0	0
Capital reserve
Beginning balance	87	87	87
Ending balance	87	87	87
Share premium
Beginning balance	1,498	1,491	1,457
Exercise of share options	12	6	28
Transfer to share premium upon exercise of share options	5	1	6
Ending balance	1,515	1,498	1,491
Share-based compensation reserves
Beginning balance	97	97	92
Transfer to share premium upon exercise of share options	(5)	(1)	(6)
Forfeiture of share options	(2)	(8)	(3)
Share-based compensation of the Company	4	9	14
Ending balance	95	97	97
Currency translation reserve
Beginning balance	4	(12)	(28)
Other comprehensive income (expense) for the period	(6)	16	16
Total comprehensive (expense) income	(6)	16	16
Ending balance	(2)	4	(12)
Hedge reserve
Total comprehensive (expense) income	(4)
Ending balance	(4)
Cash flow hedge fair value adjustment	(4)
Retained earnings/ (accumulated losses)
Beginning balance	156	2,696	2,714
(Loss) Profit for the period	(1,048)	(1,523)	2,033
Total comprehensive (expense) income	(1,048)	(1,523)	2,033
Forfeiture of share options	2	8	3
Dividends to equity holders of the Company		(1,025)	(2,054)
Ending balance	(890)	156	2,696
Parent Company [Member]
Beginning balance	1,932
Ending balance	1,935	1,932
Parent Company [Member] \| Reserves [Member]
Beginning balance	1,851	1,738	1,954
(Loss) Profit for the period	(4)	1,120	1,792
Other comprehensive income (expense) for the period	(5)	3	4
Total comprehensive (expense) income	(13)	1,123	1,796
Exercise of share options	12	6	28
Share-based compensation of the Company	4	9	14
Dividends to equity holders of the Company		(1,025)	(2,054)
Ending balance	1,854	1,851	1,738
Cash flow hedge fair value adjustment	(4)
Parent Company [Member] \| Capital reserve
Beginning balance	106	106	106
Ending balance	106	106	106
Cash flow hedge fair value adjustment	0
Parent Company [Member] \| Share premium
Beginning balance	1,498	1,491	1,457
Exercise of share options	12	6	28
Transfer to share premium upon exercise of share options	5	1	6
Ending balance	1,515	1,498	1,491
Cash flow hedge fair value adjustment	0
Parent Company [Member] \| Share-based compensation reserves
Beginning balance	58	58	53
Transfer to share premium upon exercise of share options	(5)	(1)	(6)
Forfeiture of share options	(2)	(8)	(3)
Share-based compensation of the Company	4	9	14
Ending balance	55	58	58
Cash flow hedge fair value adjustment	0
Parent Company [Member] \| Currency translation reserve
Beginning balance	(11)	(14)	(18)
Other comprehensive income (expense) for the period	(5)	3	4
Total comprehensive (expense) income	(5)	3	4
Ending balance	(16)	(11)	(14)
Cash flow hedge fair value adjustment	0
Parent Company [Member] \| Hedge reserve
Total comprehensive (expense) income	(4)
Ending balance	(4)
Cash flow hedge fair value adjustment	(4)
Parent Company [Member] \| Retained earnings/ (accumulated losses)
Beginning balance	200	97	356
(Loss) Profit for the period	(4)	1,120	1,792
Total comprehensive (expense) income	(4)	1,120	1,792
Forfeiture of share options	2	8	3
Dividends to equity holders of the Company		(1,025)	(2,054)
Ending balance	198	$ 200	$ 97
Cash flow hedge fair value adjustment	$ 0

Disclosure of Interests in Subs

Disclosure of Interests in Subsidiaries (Details)

12 Months Ended

Dec. 31, 2021MOP (MOP$)

Dec. 31, 2020MOP (MOP$)

Dec. 31, 2019MOP (MOP$)

Dec. 31, 2021USD ($)

Dec. 31, 2021HKD ($)

Dec. 31, 2020USD ($)

Dec. 31, 2020HKD ($)

Dec. 31, 2019USD ($)

Dec. 31, 2019HKD ($)

Dec. 31, 2018USD ($)

Disclosure of subsidiaries [line items]

Share capital

$ 81,000,000

Ordinary shares [member]

Disclosure of subsidiaries [line items]

Share capital

81,000,000

$ 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

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

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$

MOP$ 6498900

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$

MOP$ 722100

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, operation of ferry business, and investment holding

Share capital

$ 749,025,708.72

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

Ferry leasing (Note (i))

[1]

Ferry leasing (Note (i))

[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

Ferry leasing (Note (i))

[1]

Ferry leasing (Note (i))

[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

Ferry leasing (Note (i))

[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

Ferry leasing (Note (i))

[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

Ferry leasing (Note (i))

[1]

Ferry leasing (Note (i))

[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

Ferry leasing (Note (i))

[1]

Ferry leasing (Note (i))

[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

Ferry leasing (Note (i))

[1]

Ferry leasing (Note (i))

[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

Ferry leasing (Note (i))

[1]

Ferry leasing (Note (i))

[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

Ferry leasing (Note (i))

[1]

Ferry leasing (Note (i))

[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

Ferry leasing (Note (i))

[1]

Ferry leasing (Note (i))

[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

Ferry leasing (Note (i))

[1]

Ferry leasing (Note (i))

[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

Ferry leasing (Note (i))

[1]

Ferry leasing (Note (i))

[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

Ferry leasing (Note (i))

[1]

Ferry leasing (Note (i))

[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

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

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

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

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

Share premium

6,332,468.3

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

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

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

Share premium

6,526,794.49

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

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

Share premium

6,123,939.2

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

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

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

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

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

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

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

Pontoon leasing (Note (i))

[1]

Pontoon leasing (Note (i))

[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

Pontoon leasing (Note (i))

[1]

Pontoon leasing (Note (i))

[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

[2]

Sands Cotai East Holdings Limited (Note (ii))

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

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

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

$ 1

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$

MOP$ 1000000

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$

MOP$ 500000

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$

MOP$ 200000000

Proportion of ownership interest in subsidiary

100.00%

Venetian Macau Limited [Member]

Disclosure of subsidiaries [line items]

Name of subsidiary

[3]

Venetian Macau Limited (Note (iii))

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$

MOP$ 200000000

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$

MOP$ 100000

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$

MOP$ 1500000

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$

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 (Note (iv))

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%

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 (v))

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],[5]

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

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 (v))

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 were dissolved on March 31, 2020.

[2]

The company was dissolved on December 31, 2020.

[3]

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. (iv) V-HK Services Limited became inactive since January 1, 2021.

[4]

These entities are wholly foreign owned enterprises established in China.

[5]

The company was dissolved on December 20, 2021.