Sands China says Macao casinos stabilizing
Billionaire casino mogul Sheldon Adelson said Macao's gambling market has stabilized after Las Vegas Sands Corp's unit in the city announced fourth-quarter earnings that fell less than analysts' estimates.
Sands China Ltd's posted adjusted earnings before interest, taxes, depreciation and amortization fell 19 percent to $581.2 million in the fourth quarter, its parent said in a statement. The figure beat the market estimate of $555 million, according to Karen Tang, an analyst at Deutsche Bank AG.
"I thought we had either hit bottom in the mass market or were bottoming out," Adelson said on a post-earnings conference call. "Some of the numbers put out and experienced through December and January" among other materials he has read, "indicate to me that that's the case".
