BUZZ-Sands China sinks to 20-month low after results, Macau rivals dip

Reuters07-25

** Shares of Sands China fall 3.7% to HK$14.92, lowest since November 2022, after controlling shareholder Las Vegas Sands $(LVS)$ missed Wall Street Q2 profit estimates

** Stock on track for the biggest one-day pct drop since April 19; down 32.2% YTD

** Stock fifth biggest pct loser on Hang Seng Commerce & Industry Index , which falls 1.8%

** "Visitation to the (Macao) market remains well below the levels reached prior to the pandemic" - LVS CEO Robert Goldstein

** Sands China's adjusted property EBITDA up 3.7% Y/Y; EBITDA margin for Macao portfolio down 80 basis points Y/Y at 32.1% - LVS COO Patrick Dumont

** Shares of Las Vegas Sands fell 2% on Wednesday

** Macau rivals also dip; SJM , Galaxy Entertainment , Melco International , MGM China and Wynn China down between 1.2% and 2.2%

** Hang Seng Composite Index and Hang Seng Index

both fall 1.4% %

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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

We need your insight to fill this gap
Leave a comment