Tag: Sands China
Sands China’s earnings impress
Reuters – Robust quarterly results from billionaire Sheldon Adelson-owned Sands China propelled shares of most Macau casinos to record highs on Friday, and more gains could lie in store as strong gaming revenue is expected for the month. Sands China posted a nearly 43 percent jump in net revenue to $2.3 billion in the third quarter from a year earlier, sending its shares in Hong Kong surging by as much as 10.8 percent on Friday. The surprise, according to Deutsche Bank analyst Karen Tang, was down to a faster-than-expected increase in margin growth at its Sands China Cotai casino and…
Sands China Profit Triples
From Business Week – Sands China Ltd. (1928), the Macau casino operator controlled by billionaire Sheldon Adelson, said second-quarter profit more than tripled as it added gambling tables and hotel rooms to draw more visitors. Net income for the Hong Kong-listed unit of Las Vegas Sands Corp. increased to $487.6 million from $160.5 million a year earlier, according to its parent’s filing in U.S. GAAP standard today. Revenue climbed 40 percent to $2.07 billion from $1.48 billion. Sands China, Galaxy Entertainment Group Ltd. (27) and Melco Crown Entertainment Ltd. (MPEL:US) have been expanding on the Cotai Strip, a piece of…