
Sands China Grows Revenue in 2025 as Macao Tourism Surges but Profit Declines

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Sands China reported a 5.1% increase in 2025 net revenues to US$7.44 billion, driven by a surge in Macao tourism, with visitation exceeding 40 million. However, profit declined by 14.3% to US$896 million due to rising operating and marketing costs. The company continues its long-term investment strategy, focusing on The Londoner Macao's expansion, with total investments around US$17 billion. Analysts rate Sands China stock (HK:1928) as a Buy, with a price target of HK$20.00.
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