Sands China net income jumps as Macao gambling peaks

HONG KONG - Sands China Ltd, Asia's biggest listed casino operator, said 2009 profit rose 22 percent on higher spending in the world's biggest gambling hub.

Net income increased to $213.8 million from $175.7 million a year earlier, Sands China, which has the second-biggest market share among Macao casinos, said in a statement to Hong Kong's stock exchange on Tuesday. That compared with the $225 million mean estimate of four analysts surveyed by Bloomberg.

The casino operated by billionaire Sheldon Adelson has gained 2.5 percent in Hong Kong trading after raising $2.5 billion in an initial public offering and convertible bond sale last year. In Macao, the only place in China where casinos are legal, revenue from baccarat, blackjack, slot machines and other games grew 9.7 percent to a record 119 billion patacas ($15 billion) last year.