HONG KONG – Sands China Ltd (HKG:1928)’s stock gained 8.79 percent in today’s trading session at the Hong Kong stock exchange to trade at 27.85 at the close.
Shares of Sands China Ltd (HKG:1928) rose on Tuesday on the back of a report that Macau’s casino gross gaming revenue (GGR) improved 40 percent to 50 percent in the first few days of October from September’s average run rate.
“Given the continued depressed sentiment over the sector and investors’ low expectations for Golden Week, the research house believes that share prices will react positively to this news,” said Daiwa Research in a note released on Tuesday.
For the full month, the research house expects October’s GGR to come in at MOP19.5b, representing -30% YoY and +10% MoM in the daily run rate. (HL).
Sands China’s stock opened at 26.50 on Tuesday and reached a high of 27.95 before ending the session at 27.80.
Sands China Ltd. operates as a developer, owner and operator of integrated resorts and casinos in Macau and is a subsidiary of Las Vegas Sands Corp.
The Company’s assets include The Venetian Macao, The Sands Macao and The Plaza Macau. It also provides human resources administration, travel and tourism agency, mall management, ferry transportation and leasing services, procurement, marketing and administrative services. Sands China Ltd. is headquartered in Macau. – BusinessNewsAsia.com