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Sands China results disappoint

sands china

Sands China’s shares dropped as much as 4.9 percent on Thursday after the Macau casino operator posted lower-than-expected first-quarter earnings.
Morgan Stanley says Sands China’s property EBITDA of US$511 million missed estimates by 9 percent. Analysts attribute it to bad debt provisions, weak hotel revenue and loss of turnover rent, Reuters reported.