Sands China reports 52% jump in profit

Macau casino operator Sands China (1928.HKG) posted a 52% increase in profit in the last quarter of 2012 as it drew more Chinese visitors to its newest resort, Bloomberg reported. Net revenue in the final three months of last year rose 48% to US$1.97 billion, while net income rose to US$467 million, up from US$306.7 million in 2011. Sands China has followed rivals like Galaxy Entertainment (0027.HKG) in expanding on the reclaimed land of Macau’s Cotai strip. Macau has been a beneficiary of mainland China’s economic growth, as it is the only province in the country where gambling is legal.