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Company: Las Vegas Sands (LVS)
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edit Casino's teetering with economy going down the drains

Top Contributor: Greg Feirman | Created when LVS was $8.00 | Edit | History

With the economy going down the tubes, Casino properties are being badly squeezed. Publicly traded casino operators MGM Grand (MGM) and Las Vegas Sands (LVS) are down 90% and 96% from their highs just 1 year ago! These things also look like they are already pricing in a severe recession - or even a depression. It suggests investors are worried they will even be able to survive.

Privately held Harrah’s only had about $12 billion in debt at the end of 2007 and $800 million in interest expense that year. Interest expense for the first half of 2008 was more than $900 million. That extra interest expense is going to eat up most of their operating cash flow and the slowing economy will likely eat up the rest.

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edit macao government restricting new casino entries

Created when LVS was $74.60 | Edit | History

The threat of increased competition by new entrants undermining LVS's massive investment in Macao and pressuring its stock price has come to an end. LVS' Macao properties will provide the bulk of its profits for years to come. The new Singapore property will add to this. Vegas will benefit from increased European visits.

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