Sands China (HKG:1928) Q2 net income down 40% to US$160.5M


On a US GAAP basis, total net revenues for Sands China Ltd. (HKG:1928) increased 22.3% to US$1.48 billion in the second quarter of 2012, up 22% compared to US$1.21 billion in the second quarter of 2011, the company said.

Adjusted property EBITDA increased 10.7% to US$422.9 million.

Net income decreased 40% to US$160.5 million principally due to the US$100.8 million non-cash impairment loss on Parcels 7 & 8, lower Rolling Chip hold, and increased pre-opening expenses related to Cotai Central.

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