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Thursday, March 5, 2015

Sands China hit by HSBC downgrade







Clark Schultz, SA News Editor

  • Sands China (OTCPK:SCHYY, OTCPK:SCHYF) is downgraded by HSBC to an Underweight rating from Neutral.
  • The latest blow to the Macau growth story was this week's State of the Union address (Chinese version) by China Premier Li Keqiang.
  • Parent Las Vegas Sands (NYSE:LVS) derived 62% of its revenue from Sands China and 53% of its property EBITDA in Q4 (see Q4 report).
  • What to watch: Las Vegas Sands still has its eyes on Japan and South Korea as markets for casino development.
  • Previously: Premier Keqiang tips further corruption crackdown in China
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