Sands China a Bargain After Battering on High-Roller Revival
- Sheldon Adelson’s Sands China dogged by VIP gambler revival
- Outlook good long term as Macau goes mass market: Union Gaming
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Cashing in on the tourists and recreational bettors who flock to the gambling enclave of Macau had long been Sands China Ltd.’s recipe for success, but it’s hit a snag.
The so-called mass market -- casual gamblers who visit Macau’s casinos as much for the replicas of European landmarks as the baccarat tables -- has been overshadowed the past three months by a revival in VIP custom, data compiled by Bloomberg Intelligence show. For Sands China, the casino company that pioneered mass in Macau by importing billionaire founder Sheldon Adelson’s brand of Las Vegas-style pizazz, that’s being reflected in the shares - it’s the biggest loser this year on Hong Kong’s Hang Seng Index.