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| HSI1 | 23,093.37 | +158.69 | 249.78B |
| HSCEI1 | 7,756.25 | +67.06 | 87.14B |
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2026-10-22 11:07:05 Citi issued a report saying that SANDS CHINA LTD (01928.HK) recorded growth in gaming volume across all segments in 3Q26, with property EBITDA rising 23% QoQ, although this was 4% below the broker's forecast. Encouragingly, EBITDA margin after adjusting for luck factors increased by 0.3 ppts QoQ, reflecting relatively disciplined operating expenses and player reinvestment. The broker noted that The Londoner performed notably weak in the premium mass segment targeting ultra-high-end customers. Despite ongoing macro concerns such as China's offshore taxation, management remains confident about the outlook for Macau and is optimistic about the region's long-term wealth creation trend. Management expects strong performance in 4Q26, mainly driven by the successful staging of the NBA China Games, continued momentum from the Golden Week holiday in October, and potentially strong seasonal performance in December. Citi maintained its TP for SANDS CHINA LTD (01928.HK) at HKD17 and reiterated its Buy rating, believing the company is well positioned to benefit from a potential recovery in Macau GGR growth. The stock's dividend yield of 8.8% provides meaningful downside risk protection for investors. (ad/da)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |