Sands China Ltd Shs Unitary 144A/Reg S

01928: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Sands China Earnings: GGR Momentum Continues, With Margin Recovery Underway

Jennifer Song

Apr 23, 2026

Sands China posted a solid start to 2026, with gross gaming revenue, or GGR, up 5% quarter on quarter, lifting its market share to 25.7% from 24.7%. Luck-adjusted EBITDA rose 6%, driving a modest 30-basis-point improvement in the adjusted EBITDA/GGR margin.

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Sands China Ltd Shs Unitary 144A/Reg S

Sands China Earnings: GGR Momentum Continues, With Margin Recovery Underway

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