HK-listed Sands China eyes best day in over 4 months on solid Q2 results

Reuters2021-07-22

** Shares of Sands China Ltd , a unit of Las Vegas Sands Corp , rise 4.4% to HK$30.70, on course for the best day since March 3

** Total revenues for Sands China increased to $849 mln for the second quarter of 2021, compared to $40 mln in the second quarter of 2020, while net loss narrowed to $166 mln for the second quarter from $549 mln loss in the year-ago quarter ()

** Citi says Sands China kicked off the Q2 Macau earnings season with a solid performance and remains its top pick in Macau

** Jefferies says it prefers conservative operators and Sands China remains its preferred play as the focus remains on travel restrictions easing further, though the timing is unknown

** Other Macau gaming stocks also rise with Galaxy Entertainment climbing 4.2%, SJM Holdings up 3.7%, MGM China up 3.2%, and Wynn Macau by 2%

** Both the Hong Kong Hang Seng Commerce & Industry Index and the benchmark index rise 1.6%

** As of last close, Sands China shares had fallen 13.7% this year

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

Leave a comment
7