HK Stock Market Move | Sands China (01928) rises nearly 3%; institutions say the company benefits from an increase in mass-market business market share.

Sands China (01928) rises nearly 3%, up 2.26% as of press time, at HK$11.3, with turnover of HK$168 million. On the news front, UBS released a research report stating that it expects Sands China's third-quarter EBITDA adjusted for luck factor to decline about 7% year-on-year and about 3% quarter-on-quarter. The bank also expects Sands China to be the only gaming operator to achieve growth in luck-adjusted EBITDA, mainly driven by an increase in its mass-market business market share. According to data published by Macau's Gaming Inspection and Coordination Bureau (DICJ), total gross gaming revenue (GGR) for the third quarter was approximately MOP60.2 billion, down about 4% year-on-year and about 1% quarter-on-quarter, partly reflecting the impact of World Cup events. UBS expects Sands China's third-quarter mass-market GGR to decline about 2% quarter-on-quarter, while VIP room GGR is expected to grow about 13% quarter-on-quarter due to a higher hold rate.