Sands China 1928

Re: Sands China 1928

Postby winston » Wed Jul 27, 2016 7:43 am

Line in Sands as casino stocks surge

b y Esther Yu

Macau casino stocks surged yesterday after Sands China (1928) posted a turnaround in June gaming revenues.

The largest gaming operator in Macau saw its share price close up 6 percent at HK$30.05 after announcing its second-quarter results.

Revenues hit US$1.48 billion (HK$11.54 billion), down 16.8 percent from last year, while net profit fell 39 percent to US$237 million, which was within analysts' expectations.

However, the US-based casino operator saw its first monthly growth in mass gaming in two years in June, as revenues rose at both its flagship facilities, the Venetian Macau and Sands Cotai Central.

The market took that as a signal that Macau has bottomed out, resulting in the shares of Wynn Macau (1128), Galaxy Entertainment (0027), and Melco International (0200) rising 7.3 percent, 6.49 percent, and 5.76 percent, respectively, closing at HK$13.20, HK$26.25, and HK$8.08.

Meanwhile, Sands China also said it's opening another new casino - Parisian Macau - on September 13, which it believes can help lower operating costs by US$140 million each year.

The positioning of the Parisian "caters well to both the current Macau market conditions and the long-term growth trends in Chinese outbound tourism," Sands chairman Sheldon Adelson said in a conference call with investors.

The American gambling magnate also took Sands China's June turnaround as an optimistic sign of stabilization.

"We see no good reasons that it is going to reverse again," he said, referring the rise in mass gaming revenues.

Adelson also expressed the possibility of raising dividend payouts as a means to "return excess capital to shareholders."

Source: The Standard
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Re: Sands China 1928

Postby winston » Wed Jul 27, 2016 12:01 pm

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<Research Report>BofAML Reiterates SANDS CHINA LTD (01928.HK) at Buy with Target Lifted to $33.5

Bank of America Merrill Lynch, in its report, said SANDS CHINA LTD (01928.HK) reported 2Q16 adjusted property EBITDA of US$488 million, beating the broker's and street estimates.

However, adjusted EBITDA after corporate expenses of US$432 million missed by 3%, and the net revenue of US$1.48 billion missed the broker's estimate by 1% on poor VIP performance and low win rate.

Bank of America Merrill Lynch lifted the target price from $32.1 to $33.5, with rating Buy.

The broker said the official opening date of The Parisian is set for September 13, expecting 3,000 hotel rooms and 400 tables to be provided.

The budget of the project has increased by US$0.2 billion to US$2.9 billion.

Sands could shift existing employees to The Parisian, estimating a US$140 million annualized cost savings through this shift.

Source: AAStocks Financial News
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Re: Sands China 1928

Postby winston » Wed Jul 27, 2016 12:01 pm

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<Research Report>BofAML Reiterates SANDS CHINA LTD (01928.HK) at Buy with Target Lifted to $33.5

Bank of America Merrill Lynch, in its report, said SANDS CHINA LTD (01928.HK) reported 2Q16 adjusted property EBITDA of US$488 million, beating the broker's and street estimates.

However, adjusted EBITDA after corporate expenses of US$432 million missed by 3%, and the net revenue of US$1.48 billion missed the broker's estimate by 1% on poor VIP performance and low win rate.

Bank of America Merrill Lynch lifted the target price from $32.1 to $33.5, with rating Buy.

The broker said the official opening date of The Parisian is set for September 13, expecting 3,000 hotel rooms and 400 tables to be provided.

The budget of the project has increased by US$0.2 billion to US$2.9 billion.

Sands could shift existing employees to The Parisian, estimating a US$140 million annualized cost savings through this shift.

Source: AAStocks Financial News
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Re: Sands China 1928

Postby winston » Wed Sep 14, 2016 7:52 am

Macau has hit bottom, claims Adelson

by Esther Yu

Sands China (1928) chairman Sheldon Adelson said he is optimistic that the Macau gaming industry has hit bottom amid the opening of his US$3 billion (HK$23.4 billion) resort The Parisian yesterday.

Meeting the press to mark the opening of the integrated resort, the 83-year- old Las Vegas billionaire said: "We are optimistic that we have hit the bottom based on the convention bookings we are having."

Although unsure of whether the good mood will be sustained in the short term, he remains optimistic, saying: "Macau still has very good days to come."

He is confident that the Parisian will add to the existing themed resort portfolio including the Venetian in drawing more visitors to Macau. It is the fifth resort Adelson has opened in the gaming hub.

It has 3,000 guest rooms and a casino with 150 gaming tables.

The Parisian is likely to be the last large-scale resort Sands opens in Macau, as the gaming tycoon also said it is eyeing Japan, Thailand, Vietnam and Taiwan.

When asked of the break-even period, the tycoon said: "It's difficult to say, I hope it's one year, but we might be disappointed it's more than four years."

Chinese VIPs, he believes, may have gone elsewhere as there are other locations in Southeast Asia including the Philippines, Cambodia and Saipan and so on.

Stressing that Sands is the first among six that are allowed to operate casinos in Macau to empathise non- gaming attractions, Adelson said he is "very hopeful that the license will be renewed by 2022."

He added that 95 percent of Sands' facilities serve non-gaming purposes, and the Las Vegas firm stood higher than the rest of the market players especially in complying with the government's effort to develop appeal to the city besides gambling.

"We are ahead of the game and it is very hard for them to catch up," said Adelson.

Source: The Standard
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Re: Sands China 1928

Postby winston » Wed Oct 05, 2016 11:18 am

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<Research Report>BofAML Lifts SANDS CHINA LTD Target to $41 on Decent Biz of 'The Parisian Macau'

Bank of America Merrill Lynch, in its report, expected stable growth for SANDS CHINA LTD (01928.HK)'s "The Parisian Macau", hence raised the target multiple from 16x to 18x 2017E EV/EBITDA.

The research house considered that the casino should have higher valuation given more clear revenue outlook and stable dividend.

The research house lifted the FY2016-2017 EBITDA forecast by about 1-2%. Target price was raised to HK$41 from HK$35.9 with rating reiterated at Buy.

Sands China was expected to announce the third-quarter results this month. As a result of strong customer flow and mass
recovery, Bank of America Merrill Lynch predicted the adjusted EBITDA in the third quarter of US$530 million, down 3%
year-on-year and up 9% quarter-to-quarter.

Sands China promised to pay dividend of HK$2 per share in 2016 and 2017. For the long term, Bank of America Merrill Lynch expected Sands China to increase its property EBITDA to US$2.5 billion by 2018 to support an annual dividend of HK$2 per share.

Source: AAStocks Financial News
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Re: Sands China 1928

Postby winston » Fri Nov 04, 2016 11:35 am

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<Research Report>Nomura: SANDS CHINA LTD Upgraded to Neutral on Parisian Resilient Performance

Nomura, in its report, said in the 3Q result of SANDS CHINA LTD (01928.HK), its adjusted EBITDA amounted to US$565 million, 6% above the broker's estimate, mainly boosted by the robust performance in The Parisian Macao, which contributed US$19 million EBITDA after 18 days of opening.

The broker lifted the target price from $30.3 to $33.6 and the target P/E from 14x to 15x, upgraded the rating from Underweight to Neutral, and raised the EBITDA forecast by 5% to 6% to reflect the better-than-expected performance of The Parisian Macao.

Source: AAStocks Financial News
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Re: Sands China 1928

Postby winston » Tue Nov 08, 2016 2:29 pm

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<Result Ann>SANDS CHINA LTD 1Q-3Q Net Profit Down 18.87% to US$876M

SANDS CHINA LTD (01928.HK) announced that for the third quarter, net profit amounted to US$325 million, down 5.72% yearly.

Basic earnings per share was US4.03 cents.

Net income lifted 3.92% yearly to US$1.714 billion.

Adjusted EBITDA advanced 15.22% yearly to US$628 million.

For the first nine months, net profit fell 18.87% yearly to US$876 million, with EPS of US10.85 cents.

Source: AAStocks Financial News
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Re: Sands China 1928

Postby winston » Wed Nov 09, 2016 6:01 am

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Fortunes mixed at Macau casino operator

by Dominique Nguy

Macau casino resorts operator Sands China (1928) yesterday said net profit in the third quarter fell 5.72 percent from a year earlier to US$325 million (HK$2.53 billion) .

However, Sands China's adjusted earnings before interest, taxes, depreciation and amortization or EBITDA rose 15.2 percent year on year to US$628.4 million in the third quarter. Adjusted EBITDA in the same period last year was US$545.4 million.

The company's net revenues increased 3.9 percent to US$1.71 billion.

Sands opened a new US$2.9 billion resort, The Parisian, in Macau in September, pictured. The property features a half-sized replica of the Eiffel Tower, as well as a water park for kids and a shopping mall with street performers.

The Parisian made its debut amid signs of a recovery in gambling in Macau. The company saw a 19 percent increase in visitors to its Macau properties in September, compared to the same month last year, executives said on a call with investors.

"People want to see that Parisian theme approach," Sands President Rob Goldstein said. "The Eiffel Tower, that facade has great curb appeal. "

The Parisian recorded revenues of US$67.7 million and adjusted EBITDA of US$19.1 million in its first 18 days of operation ended September 30, while the occupancy rate of The Parisian was 87.5 percent.

Meanwhile, Sands China's other major casino resort, The Venetian, recorded net revenue of US$771.1 million in the three months ended September 30, up 10.5 percent from the same period last year.

Its adjusted EBITDA was also up 22.7 percent to US$315.4 million. Occupancy rate of The Venetian was 93.2 percent in the third quarter, up from 84.5 percent same period last year.

Source: The Standard
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Re: Sands China 1928

Postby winston » Thu Nov 17, 2016 4:17 pm

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Why Is Sands China Soaring?

By Shuli Ren

Sands China (1928.Hong Kong), a subsidiary of Las Vegas Sands (LVS), soared 5.8% today, poised to close to 2016 high. Sands China is the third most traded stock on the Hang Seng Composite Index.

Why is Sands China soaring today?

This blogger asked around and a trader at a major European bank gave the best answer.

It has to do with Japan giving out casino licenses.

The Casino Integrated Resort Introduction Bill, Prime Minister Shinzo Abe‘s push to get Japan to host casinos and attract foreign tourists and boost consumption, is one of the key items on the agenda to be discussed during the current Diet session, ending on November 30.

Three years ago, the Casino Bill only received two hours of debating time, but now that Abe’s Liberal Democratic Party has absolute majority in both upper and lower house, this Bill has much wider support and will get more shine.

One concern investors have is whether Sands China will maintain its dividend payments as Macau settles into a slower new normal. But if Japan pass this bill, its parent Las Vegas Sands will need a lot of cash to invest in Japan, which means if anything, Sands China is likely to boost its dividend payments.

Sands China currently offers a handsome 5.8% dividend yield.

Source: Barron's Asia

http://blogs.barrons.com/asiastocks/201 ... a-soaring/
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Re: Sands China 1928

Postby winston » Thu Dec 29, 2016 11:21 am

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SANDS CHINA LTD Wilfred Wong: Expects Better Revenue from Longer Xmas Holiday

Radio Macau reported that Wilfred Wong Ying-wai, CEO and COO of SANDS CHINA LTD (01928.HK), said the Christmas holiday this year is longer, so he expected that the revenue will be better.

He also expected the turnover on the New Year's Eve to be better, similar to the figure a year ago.

He also said The Parisian Macao posted an in-line performance, and the recent rise in the number of tourists have boosted the gross gaming revenue, especially the mass revenue.

Source: AAStocks Financial News
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