Industry Revenues:

1. Gambling: approx. 70%
2. Hotel and Catering: approx. 20%
3. Retail and Others: approx. 10%

TOP 3 Markets:

1. Macau: approx. 85%
2. China (Mainland): approx. 10%
3. International (other Asian countries): approx. 5%

Sands China Ltd. generates the majority of its revenues from the gambling sector, which is typical for companies in the Macau region, known as a significant gambling center. Besides gambling, hotel and catering as well as retail and other services also contribute to the income.

The main market for Sands China is Macau, which accounts for the largest share of revenue. This is due to its strategic location and high appeal to tourists and gamblers. China (Mainland) and other Asian countries are also important markets, but with a significantly smaller share.

Main production site: Macau, China

Sands China Ltd. is primarily engaged in the integrated resort and casino operation and does not produce physical products in the traditional sense. The company conducts its main activities in Macau, where it owns and operates several large resorts and casinos.

These resorts include accommodations, entertainment, retail, and dining, all offered on-site in Macau. Sands China Ltd. is a leading provider of leisure and entertainment experiences in the region.

Revenue Growth: Estimated 10% (2024) Investments in Infrastructure: 2 billion USD (2023-2025)

Sands China Ltd. is pursuing a strategy focused on expanding and enhancing its existing properties in Macau. The company is investing significantly in renovating and expanding its hotel and casino facilities to increase attractiveness for tourists and gamblers.

Another key focus is on diversifying offerings to appeal not only to gambling customers but also to families and business clients. This includes investments in entertainment options, dining, and conference facilities.

In addition, Sands China is leveraging digital transformation and technological innovations to enhance customer experience and increase operational efficiency. This involves implementing advanced data analytics and digital marketing strategies to tap into new customer segments.

Main Imported Raw Materials/Supplies: Building and furnishing materials, food and beverages

Countries of Origin: China, USA, Australia, Europe

Sands China Ltd., as a leading operator of integrated resorts in Macau, imports a variety of raw materials and supplies necessary for the operation and maintenance of their facilities. This includes especially building and furnishing materials required for the construction and renovation of their luxurious hotels and casinos. These materials are often imported from China and Europe, as these regions are known for their high-quality products.

Additionally, Sands China imports food and beverages to ensure the high standard of their dining establishments. These are frequently sourced from the USA, Australia, and Europe in order to offer a wide range of international cuisine.

The strategic selection of countries of origin is based on the quality of the products as well as logistical and economic considerations to optimize operating costs while providing guests with a first-class experience.

Market share in Macau: 22% (2024)

EBITDA margin: 34% (2024)

RevPAR (Revenue per Available Room): 1,200 HKD (2024)

Sands China Ltd. has a significant competitive advantage due to its strong market presence in Macau, one of the world's largest gambling markets. With a market share of 22% in 2024, the company is one of the leading operators in the region.

The EBITDA margin of 34% shows that Sands China operates efficiently and is able to generate high profits from its revenues. This margin is an indicator of operational efficiency and the ability to control costs.

Additionally, the company benefits from a high RevPAR of 1,200 HKD, indicating strong demand and an effective pricing strategy. This supports profitability and highlights the attractiveness of the company's properties.

Overall, the combination of market share, operational efficiency, and high demand for Sands China's offerings strengthens its competitive advantage in the region.

Institutional Investor Share: Approx. 70% (estimated for 2025 based on historical data)

Insider Buys/Sells: No significant transactions in the last year (estimated for 2025)

The institutional investor share in Sands China Ltd. is traditionally high, as large investment funds and institutional investors show interest in stable and established companies in the gambling sector. These investors value the market position and the potential for long-term growth.

Regarding insider buys and sells, there have been no significant transactions in the last year, indicating that management has confidence in the current company strategy and performance. Such transactions are often seen as indicators of the company's future development, so the absence of major movements is noteworthy.

Market Share Sands China Ltd.: 22% (2025, estimated)

Top Competitors and Their Market Shares:

1. Galaxy Entertainment Group: 24%
2. Sands China Ltd.: 22%
3. Wynn Macau: 18%
4. Melco Resorts & Entertainment: 16%
5. MGM China Holdings: 12%
6. SJM Holdings: 8%

Sands China Ltd. holds a significant market share of around 22% in the gambling market of Macau. The largest competitor, Galaxy Entertainment Group, has a market share of 24%, making it the market leader.

The moat of Sands China Ltd. mainly lies in its strong brand presence, the strategic location of its casinos and resorts, and the ability to attract a wide range of customers, from mass market players to VIP customers. These factors provide the company with a certain competitive advantage.

Compared to competitors, Galaxy Entertainment Group may have a stronger moat due to its larger market shares and continuous investments in new projects and infrastructure. Wynn Macau and Melco Resorts & Entertainment are also strong competitors with well-established brands and luxury offerings that help them compete in the VIP segment.

Overall, Sands China Ltd. has a solid moat, but competition in Macau is intense, and the other major players also have significant strengths that enable them to be successful in this dynamic market.

Revenue Growth: 20% (2024) EBITDA Growth: 18% (2024) Market Share in Macau: 22% (2024)

Sands China Ltd. recorded strong revenue growth of 20% in 2024, attributed to the recovery of tourism and increased visitor numbers in Macau. The company was able to increase its market share to 22%, highlighting its leading position in the Macau gambling market.

The 18% EBITDA growth indicates that Sands China is not only generating more revenue but also operating more efficiently and optimizing its cost structure. This is a positive sign for the company's profitability.

Overall, the strong market position and continuous growth suggest that Sands China Ltd. could be an attractive investment opportunity, especially for investors interested in the recovery and growth of the gambling market in Macau.

Dividend payment: Sands China Ltd. pays a dividend. (As of 2025)

Dividend yield: 3.5% (estimated for 2025)

Sands China Ltd. has regularly paid dividends in the past, but the payments were temporarily suspended during the COVID-19 pandemic. Since the recovery of tourism and the gambling industry in Macau, the company has resumed dividend payments.

The reliability of the dividends depends heavily on the economic situation in Macau and the regulatory framework. Given the recent positive developments in the region and the company's stable financial position, it is expected that Sands China Ltd. will be able to maintain its dividend policy.