Adelson’s Sands Missing Stock Rally as Rivals Pull in VIPs

Cashing in on the tourists and recreational bettors who flock to the gambling enclave of Macau had long been Sands China Ltd.’s recipe for success, but it’s hit a snag. The so-called mass market — casual gamblers who visit Macau’s casinos as much for the replicas of European landmarks as the baccarat tables — has been overshadowed the past three months by a revival in VIP custom, data compiled by Bloomberg Intelligence show.