- Profits rise at Sands China unit after long slump in betting
- Las Vegas-based casino owner opened Parisian Macau last month
Las Vegas Sands Corp., the world’s largest casino owner, reported a jump in profit after opening its newest resort in Macau, a sharp contrast to rival Wynn Resorts Ltd., which said its newest Chinese property was off to a slow start.
Sands’ profit rose to 72 cents a share, excluding some items, the Las Vegas-based company said Thursday in a statement. Analysts were predicting 60 cents, the average of estimates compiled by Bloomberg.
Sands, founded by billionaire Sheldon Adelson, opened the $2.9 billion Parisian resort in Macau in September. The property features a half-sized replica of the Eiffel Tower, as well as a water park for kids and a shopping mall with street performers. It made its debut amid signs of a recovery in gambling in Macau, the only place in China where casinos are...