#3 - Las Vegas Sands Corp. (NYSE:LVS)
Another finding in the Business Research Company study is that the Asia-Pacific region makes up 32% of global gambling revenue. That’s one reason why investors should be excited about investing in Las Vegas Sands (NYSE:LVS).
The company has started to open several of its Asia properties. If management is correct, experience with past pandemics may be a catalyst for these properties doing well. During their conference call in April, executives expressed a sincere belief that because many Asian guests are already used to wearing face coverings and having their temperature taken – among other precautionary measures – they would be less resistant to returning.
Chief Executive Officer Robert Goldstein said, “I think they (Asian people) are going to welcome it and be anxious to get back to having fun. I believe … the recovery in Asia is going to happen rather quickly. I’m not as comfortable (about) Vegas.”
However, Las Vegas Sands has the balance sheet even in a zero revenue environment to weather the pandemic. As of its earnings report, the company had $2.6 billion of cash and equivalents. LVS also had $3.9 billion of short-term borrowing capacity. That would allow the company to stay solvent for 18 months, even without revenue.
About Las Vegas Sands
Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Macao and Singapore. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and Marina Bay Sands in Singapore.
Read More - Current Price
- $44.73
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 10 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $63.46 (41.9% Upside)
