Sands China Shares Slide on Weaker-Than-Expected Profitability
By Tracy Qu
Shares of Sands China fell sharply, after the casino operator reported weaker-than-expected profitability.
Shares of the Las Vegas Sands unit fell 7.3% to 17.47 Hong Kong dollars, equivalent to US$2.24, at the midday break Thursday, on track for its biggest daily drop since April. By comparison, the Hang Seng Index was 0.5% higher.
Adjusted property earnings before interest, taxes, depreciation, and amortization rose 6% to US$608 million in three months ended Dec. 31, missing the US$628 million market consensus by 3%, Citi analysts said.
The analysts said that the company incurred significantly higher expenses on events during the fourth quarter, which led to a decline in ebitda margin. However, the analysts noted that the higher marketing expenses were partially due to seasonal factors, and said that they remained confident overall. Citi maintained its buy rating on Sands China but trimmed its target price to HK$23.00 from HK$24.25.
Write to Tracy Qu at tracy.qu@wsj.com
(END) Dow Jones Newswires
January 28, 2026 23:44 ET (04:44 GMT)
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