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    1928   KYG7800X1079

SANDS CHINA LTD

(1928)
  Report
Delayed Hong Kong Stock Exchange  -  03:08 2022-12-02 am EST
21.35 HKD   -0.47%
12/01CST Group Unit Sells 2.5 Million Sands China Shares
MT
11/28Sector Update: Consumer Stocks Slip Pre-Bell Monday
MT
11/28MarketScreener's World Press Review : November 28, 2022
MS
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Macau Casino Shares Jump on Hopes of Sooner Return to Normal

09/25/2022 | 11:03pm EST

By Clarence Leong


Shares of Macau casino stocks rose sharply Monday morning, after the Macau government's easing of Covid-19 policies boosted hopes of a sooner-than-expected return to normal.

Sands China Ltd. jumped 16% to 20.50 Hong Kong dollars (US$2.61), heading toward its best day in more than six months. Galaxy Entertainment Group Ltd., Wynn Macau Ltd. and SJM Holdings Ltd. advanced between 9.1% and 13%. Hong Kong's benchmark Hang Seng Index added 0.5%.

The casino sector's gains came after news over the weekend that Macau is set to resume issuing electronic visas and allowing Chinese group tours around late October or early November.

Analysts said the easing came earlier than expected and could facilitate a faster return of Chinese visitors to Macau.

JPMorgan said the move was the most significant easing since Macau's border with China reopened two years ago. The move should "alleviate friction for a Macau trip, as well as signal to many that it's OK to visit Macau," JPMorgan analyst DS Kim said in a note.

Mr. Kim said the lack of electronic visas has been "the most common push-back we heard," and noted that group tours used to account for about 25% of Chinese visitors to the city before the pandemic.

"Now that Macau has a clear roadmap to recovery, this neglected sector should recapture investors' attention," Citi analysts said in a note. Citi added that this shows Beijing fully supports Macau's economic recovery.

Both Citi and JPMorgan have a bullish stance on the sector. Citi's top picks are Sands China and Galaxy Entertainment, while JPMorgan's top pick is Sands China.

But other analysts are more cautious. The gambling hub's "pace of recovery [is] still uncertain," Jefferies analyst Andrew Lee said in a note. Meanwhile, "quarantine fears continue to deter overseas travel given China's rapid lockdowns strategy during new local infection cases," Mr. Lee added.

Jefferies projected that gaming revenue in 2022 will only be 14% of prepandemic levels, with revenue improving further to 46% of prepandemic levels in 2023.


Write to Clarence Leong at clarence.leong@wsj.com


(END) Dow Jones Newswires

09-25-22 2302ET

Stocks mentioned in the article
ChangeLast1st jan.
GALAXY ENTERTAINMENT GROUP LIMITED 0.31% 48.45 Delayed Quote.19.55%
SANDS CHINA LTD -0.47% 21.35 Delayed Quote.18.12%
SJM HOLDINGS LIMITED 3.68% 3.94 Delayed Quote.-22.78%
WYNN MACAU, LIMITED 4.29% 6.8 Delayed Quote.2.35%
All news about SANDS CHINA LTD
12/01CST Group Unit Sells 2.5 Million Sands China Shares
MT
11/28Sector Update: Consumer Stocks Slip Pre-Bell Monday
MT
11/28MarketScreener's World Press Review : November 28, 2..
MS
11/28China Lockdowns Pull Hong Kong Equities Lower
MT
11/28Las Vegas Sands Unit Wins 10-Year Gaming Concession in Macau
MT
11/28China's Anti-Lockdown Protests Bring Hong Kong Stocks to a Slump; Sands China Surge 8%
MT
11/28Macau Awards Sands China Unit Venetian Macau 10-Year Gaming Concession
MT
11/28MGM China Gets 10-Year Provisional Gaming Concession from Macau Government
MT
11/27Hong Kong-Listed Casino Stocks Gain Following License Approvals
DJ
11/27Wynn Macau leads rise in Macau casino operators after new licences announced
RE
More news
Analyst Recommendations on SANDS CHINA LTD
More recommendations
Financials (USD)
Sales 2022 1 861 M - -
Net income 2022 -1 477 M - -
Net Debt 2022 8 322 M - -
P/E ratio 2022 -14,5x
Yield 2022 -
Capitalization 21 779 M 21 779 M -
EV / Sales 2022 16,2x
EV / Sales 2023 5,31x
Nbr of Employees 25 110
Free-Float 30,0%
Chart SANDS CHINA LTD
Duration : Period :
Sands China Ltd Technical Analysis Chart | MarketScreener
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Technical analysis trends SANDS CHINA LTD
Short TermMid-TermLong Term
TrendsBullishNeutralNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 18
Last Close Price 2,69 $
Average target price 2,78 $
Spread / Average Target 3,15%
EPS Revisions
Managers and Directors
Robert Glen Goldstein Non-Executive Director
Ying Wai Wong President & Executive Director
Min Qi Sun Chief Financial Officer & Senior Vice President
Kwan Lock Chum Chief Operating Officer & Executive Director
Victor Patrick Hoog Antink Independent Non-Executive Director
Sector and Competitors
1st jan.Capi. (M$)
SANDS CHINA LTD18.12%21 779
GALAXY ENTERTAINMENT GROUP LIMITED19.55%26 117
FLUTTER ENTERTAINMENT PLC2.38%25 554
EVOLUTION AB-15.64%21 416
ARISTOCRAT LEISURE LIMITED-17.31%15 486
CAESARS ENTERTAINMENT, INC.-44.57%10 902