(July 27): Las Vegas Sands Corp fell as much 6% after the world’s largest casino operator posted second-quarter earnings that missed analysts’ estimates, the result of lower house winnings in Singapore.

Shares of Las Vegas Sands fell as low as US$70.58 ($96.1) in New York. The stock was up 8.1% this year as of Wednesday.

Fewer bets and a lower win percentage trimmed results at the Marina Bay Sands in Singapore, the company said Wednesday. Industrywide revenue in Macau, the only place in China where casino-style betting is legal, stayed strong despite fears that the World Cup or a brewing trade war with the US would keep visitors away. Betting in Macau rose 17% to 73.7 billion patacas ($1.53 billion) in the quarter.

To continue reading,

Sign in to access this Premium article.

Subscription entitlements:

Less than $9 per month
3 Simultaneous logins across all devices
Unlimited access to latest and premium articles
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
Related Stories

Stay updated with Singapore corporate news stories for FREE

Follow our Telegram | Facebook