Brokerage Morgan Stanley is revising down its estimates for Sands China, now predicting that the company will garner EBITDA of some $2.4 billion for 2024, down 8 percent compared to previous estimates.

Morgan Stanley has revised down Sands China’s 2024 EBITDA forecast to $2.4 billion, an 8 percent decrease, due to lower market share this year.

Sands China has reported a 53.3 percent increase in adjusted property EBITDA for its Macau operations in the first quarter, while Marina Bay Sands was also up by over 50 percent during the period.

Macau gaming operator Sands China has secured its leadership in the gaming industry, according to data provided by Deutsche Bank.

Sands China is doubling down on its non-gaming investments, with newly elevated Grant Chum – the group’s President and CEO – saying it will lay-out some $1.4 billion on Londoner Phase 2 and the revamp of its Cotai Arena.

Sands China notes that its responsible gaming efforts and achievements in 2023 were noteworthy, as the company continued its work to promote responsible gaming among its team members and the community.

The new management at Sands China is focused on cutting down overall costs while also maintaining customers, notes gaming consultant Sudhir Kalé. Grant Chum, the new CEO of the company replaces Robert Goldstein, while also getting the role of President - as Wilfred Wong was elevated.

Grant Chum will be a more "hands on" CEO and President at Sands China than the previous management, with his main focus to be in "cost-cutting" and "customer retention", gaming consultant Sudhir Kalé tells AGB.

Analysts at Deutsche Bank and Jefferies have reaffirmed Sands China's solid results despite the prevailing negative sentiment towards Macau/China.

Sands China has announced a series of changes to its leadership, with Grant Chum assuming the role of CEO of the company, as Robert Goldstein steps back from the role. Chum will also assume the role of President of Sands China, as Wilfred Wong is promoted to Executive Vice Chairman.