Companies
Sands China Q1 net profit rises 315%
(Xinhua)
Updated: 2010-05-11 11:15
 |
Large Medium Small |
HONG KONG: Sands China, the world's second-most valuable casino operator by market value, posted first-quarter earnings that quadrupled from a year ago, thanks to more gamblers at its Macao casinos and cost controls.
Sands China, whose rivals include Wynn Macau and Melco Crown Entertainment, reported net profit of $110.51 million for January-March, up from $26.66 million a year ago.
Most analysts say Sands China, 70 percent owned by US casino firm Las Vegas Sands, is their favourite pick among Macao casino stocks, due to its aggressive expansion plans and high exposure to the mass-market gambling segment, which is more resilient to economic turbulence.
