S&P 500   5,022.21
DOW   37,753.31
QQQ   425.84
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Prologis Stock Leading U.S. Logistics Boom
Johnson & Johnson’s Q1 Checkup: Mixed Results, Optimism Remains
S&P 500   5,022.21
DOW   37,753.31
QQQ   425.84
ASML Fires Warning Shot For Tech Investors
Lululemon’s P/E Is Back to 2017 Levels: Should You Buy the Dip?
Abbott Laboratories Outlook is Healthy: Buy the Dip
Closing prices for crude oil, gold and other commodities
Stock market today: World shares are mixed after a tech-led retreat on Wall Street
Prologis Stock Leading U.S. Logistics Boom
Johnson & Johnson’s Q1 Checkup: Mixed Results, Optimism Remains
S&P 500   5,022.21
DOW   37,753.31
QQQ   425.84
ASML Fires Warning Shot For Tech Investors
Lululemon’s P/E Is Back to 2017 Levels: Should You Buy the Dip?
Abbott Laboratories Outlook is Healthy: Buy the Dip
Closing prices for crude oil, gold and other commodities
Stock market today: World shares are mixed after a tech-led retreat on Wall Street
Prologis Stock Leading U.S. Logistics Boom
Johnson & Johnson’s Q1 Checkup: Mixed Results, Optimism Remains
S&P 500   5,022.21
DOW   37,753.31
QQQ   425.84
ASML Fires Warning Shot For Tech Investors
Lululemon’s P/E Is Back to 2017 Levels: Should You Buy the Dip?
Abbott Laboratories Outlook is Healthy: Buy the Dip
Closing prices for crude oil, gold and other commodities
Stock market today: World shares are mixed after a tech-led retreat on Wall Street
Prologis Stock Leading U.S. Logistics Boom
Johnson & Johnson’s Q1 Checkup: Mixed Results, Optimism Remains

Las Vegas Sands Stock May No Longer Be a Gamble

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Las Vegas Sands stock outlook

Key Points

  • Las Vegas Sands owns and operates integrated casino resorts in Macao and Singapore, but not in the U.S. anymore.
  • Macao retail business has “far exceeded” pre-COVID numbers as revenues for The Venetian surged to $723 million, up from $104 million in the year-ago period.
  • Marina Bay Sands resort in Singapore saw revenues rise 34.3% YoY to $1.37 billion with adjusted property EBITDA of $491 million in Q3 2023.
  • 5 stocks we like better than Las Vegas Sands

International casino resort operator Las Vegas Sands Co. NYSE: LVS name may be slightly misleading now since they no longer own or operate any casinos in Las Vegas or the U.S. The company operates integrated casino resorts in Macao and Singapore. It had sold off its remaining Las Vegas properties Venetian and Palazzo reports to Apollo Global Management Inc. NYSE: APO and Vici Properties in 2022 for $6.25 billion. By 2021, its Asian operations nearly doubled its U.S. operations.

Amidst growing competition from rivals like Wynn Resorts Limited NASDAQ: WYNN, MGM Resorts International NYSE: MGM, online casinos and sports betting, Las Vegas Sands decided to change direction. The company pivoted to go all in on its Asian properties, selling off its U.S. properties to reduce debt and pursue greater opportunities overseas. The company is eyeing the possibility of opening a location in Thailand if it gets legalized there. Las Vegas Sands is bidding for a gaming license in New York and has secured the Nassau Coliseum. It plans to spend over $5 billion to develop a five-star resort. 

Singapore Growth

Marina Bay Sands is the iconic landmark resort in Singapore owned and operated by Las Vegas Sands. The property has three 55-story towers, which are connected by the one-hectare SkyPark Infinity Pool, the largest infinity pool in the world. The property has 3,561 rooms and suites, with 1.4 million sq. ft of gaming and retail space. The location generated the most revenues of all its properties at $1.37 billion in revenues in Q3 2023, up 34.3% YoY and adjusted property EBITDA of $491 million. The company expects the property to generate over $2 billion in annualized EBITDA in the future.


Astounding Recovery in Macao

The lifting of the zero-COVID restrictions in China, combined with the travel and tourism boom, has seen a seismic recovery in Macao. The first week of October is the national Golden Week holiday. Macao saw over 932,000 visitors during this year's Golden Week holiday,  averaging 116,000 visitors daily, up over 370% YoY. The average hotel occupancy was 87.9%. The single-day record of visitors peaked at 158,776 on Sept. 30, 2023.

Macao Recovery Expected to Accelerate

Las Vegas Sands has stated that Macao is the most important land-based market in the world. The company has invested $15 billion in Macao and owns five properties. Its Q3 2023 EBITDA illustrates robust growth. Its retail Macao business has "far exceeded" pre-COVID numbers. Its top revenue-earning property was The Venetian Macao, generating $723 million, up from $104 million in the year-ago period. Macao's adjusted property EBITDA was $631 million.

During the conference call, Las Vegas Sands CEO Robert Goldstein commented, "We've gone from a dead stop in January back to the very difficult times of no one coming to mere nine months later about 80% of Q3 '19. But how much are they going to go? I think a lot more. If you look at Singapore, this trajectory, I think it's very telling what's going to happen in Macao."

Impressive Earnings

On Oct. 18, 2023, Las Vegas Sands reported its fiscal Q3 2023 earnings for the quarter ended in September 2023. The Company reported an earnings-per-share  (EPS) profit of 55 cents, in line with consensus analyst estimates of 55 cents. Revenues surged 178% YoY to $2.8 billion, beating $2.1 billion analyst estimates, up from $1 billion in the year-ago period. Consolidated property EBITDA was $1.12 billion, up from $191 million in the year-ago period. Sands China Ltd. generates $1.78 billion in GAAP net revenues, up from $251 million in Q3 2022. Net income was $231 million compared to a loss of $472 million in the year-ago period. The company authorized a $2 billion stock buyback program through November 2025.

Las Vegas Sands analyst ratings and price targets are at MarketBeat. Las Vegas Sands peers and competitor stocks can be found with the MarketBeat stock screener.

Las Vegas Sands Stock chart

 

Daily Descending Triangle Pattern

The daily candlestick chart on LVS illustrates the descending triangle pattern. The solid Q3 2023 earnings report caused a price gap that attempted to break out of the pattern, but shares fell back under the daily market structure low (MSL) buy trigger at $46.00 and under the descending trendline. The daily relative strength index (RSI) oscillator is stalled under the 45-band.

LVS is still struggling to break the descending triangle pattern which it can only do if it can rise through the MSL trigger above $46.00. Pullback support levels are at $44.38, $43.77, $42.50 and $41.25.

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Should you invest $1,000 in Las Vegas Sands right now?

Before you consider Las Vegas Sands, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Las Vegas Sands wasn't on the list.

While Las Vegas Sands currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.

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Companies Mentioned in This Article

CompanyMarketRank™Current PricePrice ChangeDividend YieldP/E RatioConsensus RatingConsensus Price Target
Las Vegas Sands (LVS)
4.761 of 5 stars
$50.23-0.6%1.59%31.39Moderate Buy$68.37
Apollo Global Management (APO)
4.5802 of 5 stars
$107.49-0.3%1.60%12.78Moderate Buy$113.25
MGM Resorts International (MGM)
0 of 5 stars
C$0.00flatN/AN/AN/A
MGM Resorts International (MGM)
4.5685 of 5 stars
$42.03-1.6%N/A13.26Moderate Buy$55.34
Pool (POOL)
3.3715 of 5 stars
$364.15-1.6%1.21%27.34Hold$388.63
Sands China (SCHYY)
0 of 5 stars
$24.33-3.2%N/AN/AModerate BuyN/A
Wynn Resorts (WYNN)
4.0507 of 5 stars
$97.48-1.9%1.03%16.30Moderate Buy$121.36
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Jea Yu

About Jea Yu

  • JeaYu21@gmail.com

Contributing Author

Trading Strategies

Experience

Jea Yu has been a contributing writer for MarketBeat since 2018.

Areas of Expertise

Equities, options, ETFs and futures; fundamental, qualitative, quantitative and technical analysis and pattern identification; active and swing trading; trading systems and methodology development

Education

Bachelor of Arts, University of Maryland, College Park

Past Experience

U.S. equity markets trader, writer and analyst for over 25 years. Published four books by publishers McGraw-Hill, John Wiley & Sons, Marketplace Books and Bloomberg Press. Speaker at various expos and seminars and has been quoted and featured in USA Today, The Wall Street Journal, Traders Magazine, The Financial Times and various trade publications, including Stocks & Commodities, Active Trader and Online Investor.


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