Sands (LVS) $4.4B Cotai Opening Leaves Investors Smiling (WYNN) (MGM)
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Price: $56.48 -1.03%
Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 4.9%
Revenue Growth %: +19.6%
Overall Analyst Rating:
BUY (= Flat)
Dividend Yield: 4.9%
Revenue Growth %: +19.6%
Trade LVS Now!
Casino stocks are looking strong ahead of the bell Thursday following the opening of Las Vegas Sands' (NYSE: LVS) $4.4 billion Sands Cotai Central casino resort Wednesday.
Peers Wynn Resorts (Nasdaq: WYNN) and MGM International (NYSE: MGM) also have operations in the Southern China provinces of Macau and Cotai.
Speaking at the opening Wednesday, Sands Chairman Sheldon Adelson said his company is looking for approval to add an additional 3,600-room casino hotel. Total spending in the burgeoning Macau region by Sands could top $15 billion when all is said and done.
The Cotai property is expected to generate about $1.2 billion in revs for 2012, bolstering Sands China's top-line to $6.7 billion over the same period.
Additionally, Adelson shared plans -- possibly fleeting thoughts? -- of opening up a $35 billion mini-Las Vegas in Spain.
For Wynn, its Macau ops reported a 9.1 percent increase in net revs to $996 million last quarter with adjusted EBITDA moving 5.5 percent better. Some analysts expect Wynn Macau revs to increase 20 percent in 2012, with Deutsche Bank recently raising targets ahead of its first-quarter report.
Also last quarter, MGM China reported a 7 percent growth in its top-line numbers. Results afforded MGM China enough leeway to dole out a $400 million dividend to shareholders. For more color from Barclays following a meeting with its CFO, click here.
Sands shares finished Wednesday up 3.6 percent and are indicated about 0.5 percent higher Thursday as it approaches the $61 all-time high mark. Wynn shares ended Wednesday up 1.8 percent while shares of MGM were 4 percent better.
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Peers Wynn Resorts (Nasdaq: WYNN) and MGM International (NYSE: MGM) also have operations in the Southern China provinces of Macau and Cotai.
Speaking at the opening Wednesday, Sands Chairman Sheldon Adelson said his company is looking for approval to add an additional 3,600-room casino hotel. Total spending in the burgeoning Macau region by Sands could top $15 billion when all is said and done.
The Cotai property is expected to generate about $1.2 billion in revs for 2012, bolstering Sands China's top-line to $6.7 billion over the same period.
Additionally, Adelson shared plans -- possibly fleeting thoughts? -- of opening up a $35 billion mini-Las Vegas in Spain.
For Wynn, its Macau ops reported a 9.1 percent increase in net revs to $996 million last quarter with adjusted EBITDA moving 5.5 percent better. Some analysts expect Wynn Macau revs to increase 20 percent in 2012, with Deutsche Bank recently raising targets ahead of its first-quarter report.
Also last quarter, MGM China reported a 7 percent growth in its top-line numbers. Results afforded MGM China enough leeway to dole out a $400 million dividend to shareholders. For more color from Barclays following a meeting with its CFO, click here.
Sands shares finished Wednesday up 3.6 percent and are indicated about 0.5 percent higher Thursday as it approaches the $61 all-time high mark. Wynn shares ended Wednesday up 1.8 percent while shares of MGM were 4 percent better.
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LVS
notyet on May 23, 2012 02:34 PMMark as Spam | Reply to this comment
"$61 all time high mark" flat out wrong. LVS at $144 in 10/07.