150 Table Grant to the Parisian Beats Some Estimates on the Street; Sands China’s FVE Maintained
The Macau government allocated 100 tables to the Parisian upon opening, 25 at the beginning of 2017, and another 25 at the beginning of 2018, which is the same as recently allocated to Wynn Palace. We reduced our table assumption from 250 to 150 tables, which led to negligible fair value estimate change for Sands China, so we maintain the fair value estimate at HKD 34.00 per share.Sands China had 1,535 tables in 2015. While Sands China does not disclose the number of underutilized tables, the g...
Sands China and its subsidiaries are principally engaged in the operation of casino games of chance or games of other forms, the development and operation of integrated resorts which contain not only gaming areas but also meeting space, convention and exhibition halls, retail and dining areas and entertainment venues and other ancillary services including ferry operations and other related operations in the Macao Special Administrative Region of the People's Republic of China.
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