The impact on profit and loss of the Macau Londoner Phase II and the Cotai Arena decoration seems to have been higher than anticipated.
The Zhitong Finance App learned that CITIC Lyon released a research report saying that Sands China (01928) adjusted property EBITDA for the first quarter of 2024 fell 8% quarterly to US$641 million, 4% lower than the bank's forecast. The bank gave the stock a “buy” rating. The impact on profit and loss of the Macau Londoner Phase II and the Cotai Arena decoration seems to have been higher than anticipated. The parent company of Sands China bought back shares of Sands China, involving US$250 million, and the shareholding ratio has increased to about 71%.