BRIEF: Sands China second-quarter profit drops 13%
Casino operator Sands China Ltd. (2282.HK) reported on Thursday its net revenue rose 2.5% year-on-year to $1.79 billion in the second quarter, while its net income dropped 13% to $214 million. Its adjusted property EBITDA for the quarter totaled $566 million, up 0.9% year-on-year.
The company’s gaming revenue declined across most of its integrated resorts in Macau during the quarter. The sole exception was Londoner Macao, where revenue surged 56% to $495 million from $315 million a year earlier.
Chairman and CEO Robert Goldstein said the company is aiming to achieve quarterly adjusted property EBITDA between $600 million and $650 million, alongside annual adjusted property EBITDA in a range of $2.6 billion to $2.7 billion, during the period from 2025 to 2027.
Shares of Sands China opened up 1.85% at HK$18.76 on Thursday. The stock is up over 35% from its low over last three months.
By Lau Chi Hang
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