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: Market Share Gain Still Costly, Reducing Fair Value by 17%

Jennifer Song

Oct 23, 2026

Sands China's third-quarter gross gaming revenue rose 3% year on year, outperforming the broader market and lifting market share by 1.4 percentage points. That said, adjusted EBITDA fell 12% from a year ago to USD 529 million.

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Sands China Ltd Shs Unitary 144A/Reg S

Sands China Earnings: Market Share Gain Still Costly, Reducing Fair Value by 17%

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