Sands Hires Beijing Insider to Run Macau Casino Amid Slump

Updated on
  • Wilfred Wong to become Sands China president, COO in November
  • Casino operator's profit plunged in 2Q amid gambling downturn

Sands China shares rose as much as 2.7 percent to HK$26.30 during early Hong Kong trading after for fourth straight days of declines. The stock has fallen more than 30 percent this year, underperforming the benchmark Hang Seng Index.

Photographer: Billy H.C. Kwok/Bloomberg

Sands China Ltd. hired a Beijing insider to help run its Macau casino business, breaking from a tradition of having non-Chinese executives helm those operations as the company braces for stricter policies and as gambling-license renewals loom.

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