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: Bad Luck Masks Solid Operating Performance

Jennifer Song

Jul 23, 2026

Dampened by industrywide seasonality and an exceptionally low VIP win rate, Sands China's second-quarter adjusted property EBITDA fell 32% quarter on quarter to USD 430 million, the lowest level in three years.

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Sands China Ltd Shs Unitary 144A/Reg S

Sands China Earnings: Bad Luck Masks Solid Operating Performance

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