QUOTE AND NEWS
Motley Fool  Oct 24  Comment 
Las Vegas Sands' third-quarter earnings are leaving many investors worried about long-term potential, but here's why this is not a cause for concern.
Motley Fool  Oct 24  Comment 
A crackdown on corruption in Macau has hit gaming stocks this year, but these three risk factors could have far longer-lasting effects.
Motley Fool  Oct 21  Comment 
Gaming stocks have been beaten up, but there are still reasons to like Las Vegas Sands.
SeekingAlpha  Oct 21  Comment 
By ONeil Trader: Las Vegas Sands (NYSE:LVS) is having a bad year. Its share price is down 18% year-to-date and revenue and earnings expectations are trending down in the last six months due to unfavorable developments in the Macao region. The...
Motley Fool  Oct 20  Comment 
Sheldon Adelson has shown that he can and will fight online gaming by any means necessary, and in the process has created a lot of noise that have muddied his core and legitimately debatable objections to online gaming.
Motley Fool  Oct 20  Comment 
Las Vegas Sands has developments in progress all around Asia, with eyes on Macau, South Korea, and Japan.




 


Las Vegas Sands (NYSE:LVS) is a company that runs resort casinos in Las Vegas, Nevada and Macao, China.[1]


Revenues were $6.85 billion for the year ended December 31, 2010, an increase of $2.29 billion compared to $4.56 billion for the year ended December 31, 2009.[2] The increase in net revenues was driven by $1.26 billion of net revenues at Marina Bay Sands, which opened in April 2010, as well an increase of $849.5 million across all of our Macau properties and $106.8 million at our Las Vegas Operating Properties.[2]

Company Overview

Las Vegas Sands owns and operates casino resorts and conference centers in Las Vegas, Nevada, and Macao, China.[1] The company plans to expand by creating what it calls the "Cotai Strip" in Macao, an integrated group of resort properties anchored by its Venetian Macao.[1] The company owns and operates The Venetian Resort Hotel Casino The Palazzo Resort Hotel Casino and The Sands Expo Center in Las Vegas, Nevada. In Macau, China, the company operates the Sands Macao, The Venetian Macao Resort Hotel, the Four Seasons Hotel Macao, Cotai Strip, and the Plaza Casino. The company also owns and operates the Marina Bay Sands in Singapore, and the Sands Casino Resort Bethlehem in Bethlehem, Pennsylvania. [1]

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Important News

LVS was expecting to sell its Singapore real estate gambling center known as the Marine Bay Sands by 2013 or 2014. However, the Singapore government has declared a lock-up on the sale of the property until at least 2017. If Las Vegas Sands decides to sell its property after 2017, the sale must be approved by the Singaporean government. This significantly reduces the chances of LVS recuperating some of the investments in Singaporean real estate.[3]

Business Growth

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Competition

Las Vegas Sands faces intense competition in both Las Vegas and Macao. The company’s primary competitors in both markets include Wynn Resorts and MGM Mirage, both of which operate in the Las Vegas and Macao markets. LVS also faces competition from privately-held Harrah’s Entertainment, Boyd Gaming, and Native American casinos.

  • Wynn Resorts: Develops luxury casino resorts and operates the Wynn Las Vegas, Encore at Wynn Las Vegas, and Wynn Macau.[4]
  • MGM Mirage: Operates casino resorts, golf courses, and golf clubs in the United States.[5] MGM has a strategic alliance with the Mashantucket Pequot Tribal Nation, owner of Foxwoods Casino Resort in Ledyard, Connecticut.[5]
  • Boyd Gaming: Boyd Gaming owns and operates 16 casinos in Nevada, Mississippi, Illinois, Louisiana, Indiana and Florida. They are also a 50% partner in The Borgata Hotel Casino and Spa in Atlantic City. Unlike other Casino operators such as Wynn Resorts (WYNN) or Las Vegas Sands (LVS) who tend to focus on higher end tourists, Boyd typically caters to the middle-income customer. Their Las Vegas properties also differ in that they target local Las Vegas residents, one of the strongest and fastest-growing gaming segments, and Hawaiian tourists
  • Harrah's Entertainment: A gaming company that owns and operates under the Harrah's, Caesars and Horseshoe brand names.[6] It also owns the London Clubs International family of casinos and the World Series of Poker.

References

  1. 1.0 1.1 1.2 1.3 Wikinvest SEC FIles: LVS 2010 10-K, Item 1, Business
  2. 2.0 2.1 Wikinvest SEC Files: LVS 2010 10-K, Item 7, Management's Discussion
  3. Reuters: Singapore will block Las Vegas Sands' Singapore mall sale
  4. Wynn Resorts Ltd.: Profile. Yahoo! Finance.
  5. 5.0 5.1 MGM Mirage Profile. Yahoo! Finance.
  6. Corporate Profile. Harrah's Entertainment.
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