Sands China hit by HSBC downgrade • 9:35 AM
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