Sands China, a subsidiary of gaming giant Las Vegas Sands, may be ranked fourth in Macau’s overall gaming revenues, but according to a report by Macquarie Securities Research, its casinos have “mass market” appeal, which will boost the company’s stock in the coming months.
Macquarie has raised its 12-month price target on Sands China’s stock to HK$30.30 — implying a near 40 percent upside from its current trading price of Hk$21.80 — and reiterated its outperform rating on the firm.
The report cited a recent survey conducted by the bank, which found 42 percent of 2,000 respondents choosing Sands’ The Venetian as their “preferred” casino. Trailing at a distant second was Galaxy Entertainment's Grand Lisboa casino, with just 15 percent of votes.
"The Venetian has the strongest brand in Macau and is the preferred casino to visit," Macquarie stated in a report. "It showed that The Venetian attracts players with better demographics relative to its peers, namely a younger 'white collar' crowd with a higher gaming and non-gaming budget."Page 1 of 2 | Next Page