皇冠体育app

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Sands 皇冠体育app Q1 net profit rises 315%

(Xinhua)
Updated: 2010-05-11 11:15
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HONG KONG: Sands 皇冠体育app, the world's second-most valuable casino operator by market value, posted first-quarter earnings that quadrupled from a year ago, thanks to more gamblers at its Macao casinos and cost controls.

Sands 皇冠体育app, whose rivals include Wynn Macau and Melco Crown Entertainment, reported net profit of $110.51 million for January-March, up from $26.66 million a year ago.

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The results were widely expected as Sands 皇冠体育app had reported last Friday first-quarter profit of $113.3 million, according to US GAAP standards, together with Las Vegas Sands.

Most analysts say Sands 皇冠体育app, 70 percent owned by US casino firm Las Vegas Sands, is their favourite pick among Macao casino stocks, due to its aggressive expansion plans and high exposure to the mass-market gambling segment, which is more resilient to economic turbulence.
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