Sands China 1928

[winston]

vested

<Research>HTSC Trims SANDS CHINA LTD (01928.HK) TP to $21.2, Keeps Rating at Buy

LVS, the US-based parent company of SANDS CHINA LTD (01928.HK) released its 1Q25 financial results in after-hours trading session last Wednesday (23rd) US time, in which GGR from its Macau business (i.e., SANDS CHINA LTD) was US$610 million, down 6% YoY and 2% QoQ, recovering to 69% of its 1Q19 level, Huatai Securities issued a research report saying.

Modified by Sheraton, Londoner Grand has opened in April, offering 2,405 luxury hotel suites. It is expected to improve results in time for the May Day holiday.

Related News: SANDS CHINA LTD 1Q Adj. Property EBITDA Slips 12.3% YoY; Net Income Drops ~32% YoY

Coupled with the expectation of continued dividend declaration in 2H25, the company may follow the end-2024 DPS of $25 cents, which represents an annualized dividend yield raio of about 4% based on the current share price.

Therefore, the broker kept rating at Buy, and trimmed its target price from $24.7 to $21.2.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

<Research>G Sachs Keeps Buy on SANDS CHINA LTD But Chops EBITDA Forecasts by 7%

2025/04/24

According to a report from Goldman Sachs, SANDS CHINA LTD (01928.HK) 's 1Q25 results met expectations with EBITDA of US$535 million toward the low end of the market's forecast range.

In addition, the EBITDA adjusted for the VIP win rate declined by 8% QoQ to US$545 million, which was also in line with expectations.

After taking into account the YTD GGR market share trend, Goldman Sachs lowered its FY25-27 EBITDA forecasts for SANDS CHINA LTD by 7% and its target price to $21.2 from $24.

The broker believes that the company's stock price remaining weak YTD is due to its unsatisfactory performance in GGR and market share. It continued to rate the company as Buy.

Related News: UBS Turns More Cautious on Gaming Sector; MO Apr Daily Avg. GGR Beats

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/analy ... stock-news

[winston]

not vested

Sands China reports 24pc profit drop in H1 amid Macau market pressures
MARKET

Sands China (1928) posted a 24 percent decline in first-half net profit to US$413 million (HK$3.22 billion), the casino operator said on Friday, while maintaining its interim dividend at 25 HK cents per share. 

The company's net revenue decreased 1.7 percent year-on-year to US$3.49 billion, primarily due to a 3 percent drop in casino revenue to US$2.62 billion.

Key properties including The Venetian Macao and Parisian Macao, experienced double-digit percentage declines in gaming revenue as competition intensified.

Revenue performance varied across different business segments. Room revenue showed resilience with a 3 percent increase to about US$410 million, while shopping mall revenue grew 8 percent to US$250 million. However, food and beverage revenue declined 9 percent to US$120 million during the period.

Source: The Standard

https://www.thestandard.com.hk/market/article/309073/