Topic: How To Invest

Hi Pat: Could you provide an analysis of Las Vegas Sands Corp.? Thanks.

Article Excerpt

Las Vegas Sands, $72.21, symbol LVS on New York (Shares outstanding: 807.9 million; Market cap: $58.3 billion; www.sands.com), is a leading developer of integrated resorts (or casino-based vacation properties) in Asia and the U.S., with a focus on Macau, China and Singapore. The company owns 70% of Sands China Ltd., which operates the Venetian Macau, Four Seasons Macau, Sands Macau and Sands Cotai Central. The company has decided against building a planned $30-billion mega-resort on the outskirts of Madrid, Spain, after failing to win financial concessions and other favors from the Spanish government. Las Vegas Sands instead will focus on countries rumoured to be on the verge of permitting integrated resorts. The most promising is Japan, where the government has introduced a bill to legalize casinos; Japan could become the second-biggest gaming market after Macau. Las Vegas Sands has a greater number of properties in the key Macau market than most competitors, and the Sands Cotai Central is set to be the…