Sands China 1928

Re: Sands China 1928

Postby winston » Mon Jan 23, 2017 9:41 am

SANDS CHINA LTD Declares Interim Div 99 Cents/Share

On 20 January, the board of SANDS CHINA LTD (01928.HK) resolved to declare an interim dividend of $0.99 per share payable to shareholders of the company whose names appear on the register of members on 8 February 2017.

It is expected that the interim dividend will be paid on 24 February.

The register of members of the company will be closed on 8 February 2017.

Source: AAStocks Financial News
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Re: Sands China 1928

Postby winston » Thu Jan 26, 2017 11:37 am

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<Research Report>C Suisse: SANDS CHINA LTD 4Q16 Result Misses Estimates; Target Cut to $42.8

Credit Suisse, in its report, said SANDS CHINA LTD (01928.HK) announced that in 4Q16, the adjusted property EBITDA amounted to US$603 million, missing CS estimate/consensus (US$626 million/ US$640 million), mainly due to business cannibalisation after the opening of The Parisian both on mass GGR and retail; and higher daily opex.

The broker lowered the target price of SANDS CHINA LTD from $44.2 to $42.8 to reflect higher costs assumption but kept the rating Outperform.

Despite 4Q16 miss, SANDS CHINA LTD's steady earnings and 6% yield are likely to offer support.

The broker also lowered the adjusted EPS forecast for 2017/18 by 3.8%/2.7% to US$0.22/US$0.23.

Source: AAStocks Financial News
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Re: Sands China 1928

Postby winston » Thu Jan 26, 2017 1:55 pm

<Research Report>JPM: SANDS CHINA LTD 4Q16 Results Miss Estimates; Industry Preferences GALAXY ENT, WYNN MACAU

JPMorgan, in its report, said the 4Q16 profit of SANDS CHINA LTD (01928.HK) was 5% below consensus, with adjusted property EBITDA falling 3% quarterly to US$610 million. The miss came from bigger-than-expected cannibalization, which offset the solid performance of The Parisian in 4Q.

Although management's tone was upbeat for both the short term and the long term, the knee-jerk reaction to the stock price is likely to be negative.

The broker continued to prefer GALAXY ENT (00027.HK) and WYNN MACAU (01128.HK) over Sands China. The broker rated Overweight on Sands China with target price of $40.

For positives, the broker said the performance of The Parisian is solid, posting $95 million EBITDA (above JPMorgan's estimates). It posted GGR market share of 5% and impressive 91% hotel occupancy during 4Q.

Retail rent was solid too at about $17 million in 4Q (or $68 million annualized), a tad higher than Sands Cotai Central.

The broker expected the performance of Sands China likely tp be strong during Lunar New Year. Also, the broker expected that the promotional environment remains rational, and there should be no over-incentivizing or over-promotion.

For negatives, the group's GGR rose 8% quarterly, trailing the industry's 10% growth, and the cannibalization is bigger than expected, as non-Parisian mass GGR actually fell 7% quarterly in 4Q, dragged down by Sands Cotai Central (SCC) in particular (down 14% quarterly).

Although it's too early to call a trend yet, this certainly seems the key area to monitor in coming quarters.

Weaker margin is also a negative too, due to higher-than-expected opex at Venetian and a weaker-than-expected top-line at SCC.

Source: AAStocks Financial News
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Re: Sands China 1928

Postby winston » Sun Feb 05, 2017 7:29 am

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Sands China casino executive quits after four months

Former Hong Kong MTR finance director the latest high-profile Macau departure

The shock departure of Sands China chief financial ­officer Stephen Law Cheuk-kin – who quit as finance director of Hong Kong’s MTR Corporation to take up the casino job in September last year – is the latest of a number of high-level corporate exits in the Macau gaming industry in ­recent months.


The US Department of Justice announced on January 19 that Sands had agreed to pay $6.96 million to resolve an ­investigation into violations of the Foreign Corrupt Practices Act in its business transactions in China and Macau. The act prohibits US companies from bribing foreign officials in order to win business concessions.

As part of a non-prosecution agreement in the case, Sands China also admitted that some of its executives “knowingly and willfully” failed to impose the necessary controls in its dealings with the consultant.


Source: SCMP

http://www.scmp.com/news/hong-kong/arti ... our-months
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Re: Sands China 1928

Postby winston » Mon Feb 13, 2017 12:01 pm

<Research Report>JPM: SANDS CHINA LTD Target Cut to $37 on Worse Than Expected Quarterly Results

In its research report, JPMorgan adjusted the forecasts on SANDS CHINA LTD (01928.HK) after the casino had reported unsurprising and worse-than-expected 4Q results.

The broker revised down the 2017-19E EBITDA by 6%-9%.

The broker expected Parisian growth will boost EBITDA growth of SANDS CHINA LTD by 12% and 11% yearly for this and next year despite no growth expected for other business.

The broker's current EBITDA forecast for SANDS CHINA LTD in 2017 and 2018 is still 4%- 9% higher than street consensus.

JPMorgan lowered the target price from $40 to $37 with rating maintained at Overweight.

JPMorgan also raised demand forecast for the industry to reflect the latest casino opening progress.

For this and next year, Macau's GGR was projected to grow by 11% and 8% respectively, of which revenue of VIP and general business was forecast to increase by 9% and 13% respectively.

Source: AAStocks Financial News
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Re: Sands China 1928

Postby winston » Thu Mar 30, 2017 1:25 pm

Sands China: The Best of the Macau Casino Stocks?

By Isabella Zhong

Less than two months to go before the hotly anticipated Taipa Pac On Ferry Terminal opens on the doorstep of Macau’s glitzy Cotai Strip.

The Pac On Ferry Terminal is expected to be a game changer for Macau’s casino operators as it would drive footfall to the Cotai Peninsula – where the gambling hub’s newest casinos are situated – by making the remote district more accessible.

Sands China shares are up 6% this year and trade at 23 times forward earnings.


Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... no-stocks/
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Re: Sands China 1928

Postby winston » Mon Apr 24, 2017 9:39 am

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Hong Kong health chief defends response to legionnaires’ cases linked to five-star Macau hotel

The men contracted the disease after spending time at the five-star Parisian

The disease is caused by an infection of the legionella bacteria, which are commonly found in water tanks, cooling towers, spas and water fountains.

It’s usually caught by breathing in small droplets of contaminated water, but it is not transmittable by person-to-person contact, eating or drinking.


Source: SCMP

http://www.scmp.com/news/hong-kong/heal ... s-response
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Re: Sands China 1928

Postby winston » Fri Apr 28, 2017 7:30 am

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Sands revenues rise

by Dominique Nguy

Sands China (1928) posted a 15.3 percent increase in total net revenues to US$1.88 billion (HK$14.66 billion) in the first quarter, compared to the same period last year, while net income jumped 11.9 percent to US$349 million.

"In Macau, the market overall continues to recover, and has exhibited growth in each of the last three quarters," said chairman and chief executive Sheldon Adelson.

Adjusted earnings before interest, taxes, depreciation and amortization for Sands Macau's operation in the first quarter was up 20 percent year on year to US$624 million.

"Despite the significant increase in Macau's gaming and hotel capacity, compared with the prior year quarter, our mass table gaming revenues grew by 18 percent year over year, and our non-gaming revenues grew by 22 percent year over year," Adelson said.

He added that visitations expanded 30 percent in the first quarter, reaching 21.2 million visits across the company's Macau portfolio.

Adelson said its hotel occupancy rose by more than four percentage points to 82 percent, topping 90 percent on weekends and holidays.

"This growth in occupancy occurred despite 8,000 new hotel rooms being added to the Cotai market over the last two years, including 3,000 from The Parisian Macau," he said.

Source: The Standard
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Re: Sands China 1928

Postby winston » Wed May 24, 2017 9:50 pm

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Sands China 金沙中国(1928 HK)

Casino gross gaming revenue (GGR) expanded by 13% yoy in the 1Q 2017, markets are now forecasting a bullish growth recovery above 10% yoy this year.

We lifted our GGR forecasts to 8-10% yoy in 2017.

Our top pick in the sector is Sands China, given its heavy 66% mass market focus and their strategically-located properties in Cotai, which ensures high earnings growth.

We believe Sands China will be a major beneficiary of the potential mass market growth in 2018 that is primarily fuelled by completion of infrastructure projects.

We suggest a BUY recommendation with a target price of HK$40.00.

http://www.sandschina.com/

Source: UOBKH
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Re: Sands China 1928

Postby winston » Fri Jun 09, 2017 2:09 pm

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Sands China: Market-Perform with TP HK$34.00

Sands China current price reflects fair value and is supported by a strong dividend.

While we continue to look favorably upon Sands China's management team, product positioning and strategy focused on Mass market, a strong balance sheet and hefty dividends, valuation does have constraints.

We do not anticipate any near term catalyst that would strengthen our forecasts for the company and valuation multiple expansion is unlikely.

As such we continue to rate Sands China Market-Perform; however, for income seeking investors, the stock may be compelling as a dividend focused investment.

Source: Bernstein
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