Sands China CEO confident of Macau growth

    Sands China CEO and President Edward Tracy says he’s confident that there is plenty of demand to absorb the additional capacity set to come on stream in Macau over the next few years, with low penetration and improving accessibility likely to drive visitor growth. “If you look at supply and demand, the history in Macau is that every time supply was added demand went up,” Tracy told CNBC Asia’s Squawk Box. He said the recent anti-graft crackdown in mainland China wasn’t a concern to the company, which is more focused on the mass market. “[The crackdown] hasn’t impacted our business. We continue to show market leading growth in every segment including VIP,” he said. “Frankly, if you look at the number of graft cases against the total population – it’s absolutely non-material. Given the fact that we emphasize the mass market, and there are over a billion people in that market, we’re not too concerned about what happens in the political arena,” he told the television station.