SANDS CHINA LTD: Casinos Start Recovery; Feb GGR May Bottom Out
Wilfred Wong Ying-wai, the President and Chief Operating Officer, said in an interview with foreign media that Macau's gross gaming revenue has declined for 20 consecutive months.
He was confident that the downtrend can stop in February.
He explained that Macau's gaming industry delivered satisfying performance during the Chinese New Year.
More Mainland tourists visited Macau, boosting the turnover in mass and VIP.
When Macau's casinos start recovery, he expects the group's results will be more stable in 2016.
Source: AAStocks Financial News
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Sands China 1928
Re: Sands China 1928
by winston » Thu Feb 25, 2016 7:03 pm
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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Re: Sands China 1928
by winston » Fri Mar 11, 2016 10:09 am
not vested
Still The Best Hand In Town
SC remains our sector favourite as it is able to offer a significantly above-industry dividend yield while expanding capex thanks to its heavy mass-market focus and strategically-located (Cotai) properties which ensure high earnings growth.
SC remains the market share leader in Macau with minimal junket pressures in the near term.
Maintain BUY with a higher target price of HK$30.80, based on SOTP valuation, with an implied 13x 2016F EV/EBITDA.
Source: UOBKH
https://research.uobkayhian.com/content ... 0a85354bd3
Still The Best Hand In Town
SC remains our sector favourite as it is able to offer a significantly above-industry dividend yield while expanding capex thanks to its heavy mass-market focus and strategically-located (Cotai) properties which ensure high earnings growth.
SC remains the market share leader in Macau with minimal junket pressures in the near term.
Maintain BUY with a higher target price of HK$30.80, based on SOTP valuation, with an implied 13x 2016F EV/EBITDA.
Source: UOBKH
https://research.uobkayhian.com/content ... 0a85354bd3
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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Re: Sands China 1928
by winston » Thu Apr 21, 2016 9:23 am
not vested
<Result Ann>SANDS CHINA LTD 1Q Total Net Revenues Fall 7.9% YoY
SANDS CHINA LTD (01928.HK)'s controlling shareholder Las Vegas Sands Corp announced its financial results for the fiscal first quarter ended March 31, 2016.
On a US GAAP basis, total net revenues for Sands China decreased 7.9% yearly to US$1.63 billion.
Adjusted property EBITDA decreased 2.5% yearly to US$518 million. Net income decreased 9.6% from previous year to US$312 million.
The Venetian Macao reported adjusted property EBITDA of US$268 million, down 0.8% yearly. Adjusted property EBITDA margin was 35.8%.
Net revenues and adjusted property EBITDA for the first quarter of 2016 at Sands Cotai Central were US$530 million and US$164 million, respectively, resulting in an adjusted property EBITDA margin of 30.8%.
The Four Seasons Hotel Macao and Plaza Casino generated adjusted property EBITDA of US$48.2 million in the first quarter of 2016, an increase of 8.3% compared to the year-ago quarter.
Non-Rolling Chip drop increased 31.0% to US$300 million, with a Non-Rolling Chip win percentage of 19.1%.
Source: AAStocks Financial News
<Result Ann>SANDS CHINA LTD 1Q Total Net Revenues Fall 7.9% YoY
SANDS CHINA LTD (01928.HK)'s controlling shareholder Las Vegas Sands Corp announced its financial results for the fiscal first quarter ended March 31, 2016.
On a US GAAP basis, total net revenues for Sands China decreased 7.9% yearly to US$1.63 billion.
Adjusted property EBITDA decreased 2.5% yearly to US$518 million. Net income decreased 9.6% from previous year to US$312 million.
The Venetian Macao reported adjusted property EBITDA of US$268 million, down 0.8% yearly. Adjusted property EBITDA margin was 35.8%.
Net revenues and adjusted property EBITDA for the first quarter of 2016 at Sands Cotai Central were US$530 million and US$164 million, respectively, resulting in an adjusted property EBITDA margin of 30.8%.
The Four Seasons Hotel Macao and Plaza Casino generated adjusted property EBITDA of US$48.2 million in the first quarter of 2016, an increase of 8.3% compared to the year-ago quarter.
Non-Rolling Chip drop increased 31.0% to US$300 million, with a Non-Rolling Chip win percentage of 19.1%.
Source: AAStocks Financial News
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Re: Sands China 1928
by winston » Thu Apr 21, 2016 1:40 pm
not vested
<Research Report>G Sachs Cuts SANDS CHINA LTD Target to $29.4 on Adjusted 1Q EBITDA, Rated Neutral
Goldman Sachs, in its report, said stripping out the bad debt expense, 1Q16 EBITDA of SANDS CHINA LTD (01928.HK) would be US$540 million, falling 7% quarterly and 8% below Goldman Sachs estimates.
With no sequential cost savings in 1Q, Goldman Sachs estimated cash opex would grow 3% quarterly; and mass GGR would grow 4% quarterly, in line with industry.
Adjusted for 400 additional rooms in St. Regis opened in December 2015, the broker estimated the number of rooms taken dropped 5% quarterly, largely in line with year-to-date Macau overall occupancy.
Management targets to open Parisian in mid-September, or 4-5 weeks after Wynn Palace's scheduled opening, as they believe both Wynn Palace and Parisian are unique products and are hopeful that their openings at a similar time could draw more visitations.
Goldman Sachs lowered the target price from $29.8 to $29.4, and remained the rating at Neutral.
Source: AAStocks Financial News
<Research Report>G Sachs Cuts SANDS CHINA LTD Target to $29.4 on Adjusted 1Q EBITDA, Rated Neutral
Goldman Sachs, in its report, said stripping out the bad debt expense, 1Q16 EBITDA of SANDS CHINA LTD (01928.HK) would be US$540 million, falling 7% quarterly and 8% below Goldman Sachs estimates.
With no sequential cost savings in 1Q, Goldman Sachs estimated cash opex would grow 3% quarterly; and mass GGR would grow 4% quarterly, in line with industry.
Adjusted for 400 additional rooms in St. Regis opened in December 2015, the broker estimated the number of rooms taken dropped 5% quarterly, largely in line with year-to-date Macau overall occupancy.
Management targets to open Parisian in mid-September, or 4-5 weeks after Wynn Palace's scheduled opening, as they believe both Wynn Palace and Parisian are unique products and are hopeful that their openings at a similar time could draw more visitations.
Goldman Sachs lowered the target price from $29.8 to $29.4, and remained the rating at Neutral.
Source: AAStocks Financial News
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Re: Sands China 1928
by winston » Thu Apr 21, 2016 3:12 pm
<Research Report>M Stanley: SANDS CHINA LTD 1Q Results Miss Estimates; Rated Equalweight
SANDS CHINA LTD (01928.HK) 1Q EBITDA was below the estimates of Morgan Stanley, mainly attributable to bad debt provisions, weaker hotel RevPAR and loss of turnover rent.
However, the research house said that despite the strong QoQ growth in mass, EBITDA margin decline is worrying.
Annualized 1Q16 property EBITDA would mean 7% decline in 2016.
Net debt/ EBITDA rose to 1.4x at end of 1Q16.
The broker set the target price at $23, with a rating of Equalweight.
Source: AAStocks Financial News
SANDS CHINA LTD (01928.HK) 1Q EBITDA was below the estimates of Morgan Stanley, mainly attributable to bad debt provisions, weaker hotel RevPAR and loss of turnover rent.
However, the research house said that despite the strong QoQ growth in mass, EBITDA margin decline is worrying.
Annualized 1Q16 property EBITDA would mean 7% decline in 2016.
Net debt/ EBITDA rose to 1.4x at end of 1Q16.
The broker set the target price at $23, with a rating of Equalweight.
Source: AAStocks Financial News
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Re: Sands China 1928
by winston » Fri Apr 22, 2016 7:23 am
Sands China profit falls but uptick seen
Sands China's (1928) first-quarter profit missed analysts' estimates as China's economic slowdown curbed visitor spending.
But chairman Sheldon Adelson predicted future improvement from mass market gamblers and tourists.
Its adjusted property earnings before interest, taxes, depreciation and amortization shrank 2.5 percent to US$517.9 million (HK$4.04 billion) from US$531 million a year earlier.
That compares with the US$547 million median estimate of four analysts surveyed by Bloomberg.
From January to March, average daily rate at its flagship resort the Venetian Macao declined by 16.3 percent to US$226 from US$270 as the occupancy rate slid to 77.7 percent from 85.8 percent year on year.
It dragged revenue from hotel room operations 22.5 percent lower.
Earnings from convention, retail and others also plunged 36.2 percent.
Sands China gained the most market share in the first quarter among Macau operators as February's week-long Lunar New Year holiday boosted business, Credit Suisse analysts, led by Kenneth Fong, wrote in a note on Tuesday.
Its focus on the mass market helped lift its share to 23.3 percent from 22.5 percent a quarter earlier, they wrote.
"The mass market has increased. It's performed better, and I think we can look forward to more of that and, as far as non- gaming is concerned, people have to eat, they have to sleep," Adelson said.
"They want to be entertained. I think non-gaming elements will pick up again and do better in the future."
Sands China plans to open its US$2.7 billion Parisian Macao in mid- September, featuring non-gaming aspects such as retail shops and meeting premises besides the casino.
It faces intensifying competition from Wynn Macau (1128), whose project is scheduled to start in June.
"Everything is cyclical we've been in Macau for 12 years now. There have been times over the 12 years that people thought that the business was going down, and then it was going up," he said.
Source: BLOOMBERG
Sands China's (1928) first-quarter profit missed analysts' estimates as China's economic slowdown curbed visitor spending.
But chairman Sheldon Adelson predicted future improvement from mass market gamblers and tourists.
Its adjusted property earnings before interest, taxes, depreciation and amortization shrank 2.5 percent to US$517.9 million (HK$4.04 billion) from US$531 million a year earlier.
That compares with the US$547 million median estimate of four analysts surveyed by Bloomberg.
From January to March, average daily rate at its flagship resort the Venetian Macao declined by 16.3 percent to US$226 from US$270 as the occupancy rate slid to 77.7 percent from 85.8 percent year on year.
It dragged revenue from hotel room operations 22.5 percent lower.
Earnings from convention, retail and others also plunged 36.2 percent.
Sands China gained the most market share in the first quarter among Macau operators as February's week-long Lunar New Year holiday boosted business, Credit Suisse analysts, led by Kenneth Fong, wrote in a note on Tuesday.
Its focus on the mass market helped lift its share to 23.3 percent from 22.5 percent a quarter earlier, they wrote.
"The mass market has increased. It's performed better, and I think we can look forward to more of that and, as far as non- gaming is concerned, people have to eat, they have to sleep," Adelson said.
"They want to be entertained. I think non-gaming elements will pick up again and do better in the future."
Sands China plans to open its US$2.7 billion Parisian Macao in mid- September, featuring non-gaming aspects such as retail shops and meeting premises besides the casino.
It faces intensifying competition from Wynn Macau (1128), whose project is scheduled to start in June.
"Everything is cyclical we've been in Macau for 12 years now. There have been times over the 12 years that people thought that the business was going down, and then it was going up," he said.
Source: BLOOMBERG
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Re: Sands China 1928
by winston » Fri Apr 29, 2016 1:30 pm
not vested
SANDS CHINA LTD 1Q16 Net Profit US$313M, Down 9.26%
SANDS CHINA LTD (01928.HK) announced that according to IFRS, for the third months ended 31 March 2016, the net profit was US$313 million, down 9.26% yearly with an EPS of US3.87 cents.
During the period, the total net revenues was US$1.622 billion, down 7.82% yearly; adjusted EBITDA was US$518 million, down 2.55% yearly.
On March 11, 2016, the board proposed the payment of a final dividend of HK$1 per share.
Source: AAStocks Financial News
SANDS CHINA LTD 1Q16 Net Profit US$313M, Down 9.26%
SANDS CHINA LTD (01928.HK) announced that according to IFRS, for the third months ended 31 March 2016, the net profit was US$313 million, down 9.26% yearly with an EPS of US3.87 cents.
During the period, the total net revenues was US$1.622 billion, down 7.82% yearly; adjusted EBITDA was US$518 million, down 2.55% yearly.
On March 11, 2016, the board proposed the payment of a final dividend of HK$1 per share.
Source: AAStocks Financial News
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Re: Sands China 1928
by winston » Wed Jun 08, 2016 3:19 pm
SANDS CHINA LTD 'The Parisian Macao' to be Opened in Mid-Sep
SANDS CHINA LTD (01928.HK)'s "The Parisian Macao" will be opened in mid-September.
The project will be connected to The Venetian Macao and The Plaza Macao, Conrad Macao Hotel and Sheraton Grand Macao Hotel and HolidayInn within The Sands Cotai Central.
During which, The Sands Cotai Central will provide a total of 12,000 hotel rooms and over 850 shopping outlets.
Source: AAStocks Financial News
SANDS CHINA LTD (01928.HK)'s "The Parisian Macao" will be opened in mid-September.
The project will be connected to The Venetian Macao and The Plaza Macao, Conrad Macao Hotel and Sheraton Grand Macao Hotel and HolidayInn within The Sands Cotai Central.
During which, The Sands Cotai Central will provide a total of 12,000 hotel rooms and over 850 shopping outlets.
Source: AAStocks Financial News
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Re: Sands China 1928
by winston » Mon Jul 25, 2016 10:04 am
Sands China: Bernstein Cuts Earnings Outlook
By Robert Guy
Bernstein has cut its forecast for Sands China’s (1928.HK) earnings before interest, tax, depreciation and amortization ahead of the casino operator’s second quarter results on concerns about a seasonally soft quarter.
The broker’s estimate for second quarter EBITDA was cut by 6% and 2% for the full year. It’s 2017 forecast was trimmed by 1%.
But Bernstein is still a bull, rating the stock an outperform with a HKD33 a share price target. The stock last traded at HKD27.80 a share. Here’s the broker in it’s own words:
We believe Sands China still has more room for upside given
1) its high and sustainable dividend yield of over 7%,
2) it is a key beneficiary of a growing Mass market, coupled with an under-appreciated Parisian opening,
3) and undemanding valuation multiples.
Source: Barron's Asia
By Robert Guy
Bernstein has cut its forecast for Sands China’s (1928.HK) earnings before interest, tax, depreciation and amortization ahead of the casino operator’s second quarter results on concerns about a seasonally soft quarter.
The broker’s estimate for second quarter EBITDA was cut by 6% and 2% for the full year. It’s 2017 forecast was trimmed by 1%.
But Bernstein is still a bull, rating the stock an outperform with a HKD33 a share price target. The stock last traded at HKD27.80 a share. Here’s the broker in it’s own words:
We believe Sands China still has more room for upside given
1) its high and sustainable dividend yield of over 7%,
2) it is a key beneficiary of a growing Mass market, coupled with an under-appreciated Parisian opening,
3) and undemanding valuation multiples.
Source: Barron's Asia
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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winston - Billionaire Boss
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Re: Sands China 1928
by winston » Mon Jul 25, 2016 10:04 am
Sands China: Bernstein Cuts Earnings Outlook
By Robert Guy
Bernstein has cut its forecast for Sands China’s (1928.HK) earnings before interest, tax, depreciation and amortization ahead of the casino operator’s second quarter results on concerns about a seasonally soft quarter.
The broker’s estimate for second quarter EBITDA was cut by 6% and 2% for the full year. It’s 2017 forecast was trimmed by 1%.
But Bernstein is still a bull, rating the stock an outperform with a HKD33 a share price target. The stock last traded at HKD27.80 a share. Here’s the broker in it’s own words:
We believe Sands China still has more room for upside given
1) its high and sustainable dividend yield of over 7%,
2) it is a key beneficiary of a growing Mass market, coupled with an under-appreciated Parisian opening,
3) and undemanding valuation multiples.
Source: Barron's Asia
By Robert Guy
Bernstein has cut its forecast for Sands China’s (1928.HK) earnings before interest, tax, depreciation and amortization ahead of the casino operator’s second quarter results on concerns about a seasonally soft quarter.
The broker’s estimate for second quarter EBITDA was cut by 6% and 2% for the full year. It’s 2017 forecast was trimmed by 1%.
But Bernstein is still a bull, rating the stock an outperform with a HKD33 a share price target. The stock last traded at HKD27.80 a share. Here’s the broker in it’s own words:
We believe Sands China still has more room for upside given
1) its high and sustainable dividend yield of over 7%,
2) it is a key beneficiary of a growing Mass market, coupled with an under-appreciated Parisian opening,
3) and undemanding valuation multiples.
Source: Barron's Asia
It's all about "how much you made when you were right" & "how little you lost when you were wrong"
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