{"id":128616,"date":"2020-03-02T08:25:45","date_gmt":"2020-03-02T16:25:45","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=128616"},"modified":"2020-03-02T10:34:06","modified_gmt":"2020-03-02T18:34:06","slug":"macau-looks-rough-but-one-analyst-still-likes-las-vegas-sands-stock","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/macau-looks-rough-but-one-analyst-still-likes-las-vegas-sands-stock\/","title":{"rendered":"Las Vegas Sands, Wynn Favored by Analyst Despite Bleak Near-Term Macau Backdrop"},"content":{"rendered":"

On Sunday, the Macau Gaming Inspection and Coordination Bureau (DICJ) said gross gaming revenue (GGR) there plunged a whopping 87.8 percent last month due to the novel coronavirus outbreak. But at least one analyst remains upbeat on some operators, including Las Vegas Sands (NYSE:LVS).<\/p>\n

\"\"
Things look rough in Macau, but one analyst still likes shares of Las Vegas Sands. (Image: Reuters)<\/figcaption><\/figure>\n

That decline \u2013 Macau’s worst on record \u2013 was widely anticipated, as industry observers were forecasting a drops of 85 percent to 90 percent due to a 15-day casino closure spanning Feb. 5 to Feb. 19. Although gaming properties on the Special Administrative Region (SAR) have reopened, play levels and visitation remain sparse.<\/p>\n

With the world still in the grips of the coronavirus epidemic, analysts acknowledge that making Macau projections for the rest of 2020 is difficult<\/a> at this point. But some see bright spots, one of which is LVS \u2013 the owner of five venues on the peninsula.<\/p>\n

Given our expectation for continued outsized growth within Macau\u2019s mass market gaming segment once this noise dies down, we continue to favor exposure to Macau\u2019s most dominant mass market player, LVS, and would be using the recent weakness to accumulate this name for the long-term,\u201d<\/span> said Stifel analyst Steven Wieczynski in a note published Sunday.<\/p><\/blockquote>\n

Following a brutal batch of performances last week, travel and leisure stocks<\/a> are again being hammered Monday as investors fret that there could be a severe coronavirus outbreak in the US. For example, shares of LVS are lower by 2.50 percent in early trading today after sliding 11.11 percent last week.<\/p>\n

Long-Term View<\/h2>\n

The eroding outlook for the Chinese economy \u2013 one that has resulted in first-quarter GDP growth estimates being trimmed to as low as two percent \u2013 is likely to weigh on shares of Macau operators over the near-term. But Wieczynski sees longer-ranging catalysts for Sands.<\/p>\n

\n

\u201cWe believe LVS\u2019 unrivaled scale and investments for the future position of its Macau business to remain a leader in the world\u2019s premiere gaming market for the foreseeable future,\u201d said the analyst. \u201cAdditionally, the company\u2019s impeccable balance sheet not only adds a level of safety and security to the story, but also favorably positions the company to successfully pursue any global integrated resort development opportunities of size that come along in the future, in our view.\u201d<\/span><\/p>\n<\/div>\n

LVS is spending $2 billion on various Macau projects, including enhancements at the 370-room St. Regis Tower and 290-suite Four Seasons Tower at The Londoner at the Sands Cotai Central complex<\/strong>.<\/span><\/p>\n

In the fourth quarter of 2019, the company’s Macau properties accounted for $2.24 billion<\/a> of $3.51 billion in total revenue.<\/span><\/p>\n

Wynn, Too<\/span><\/h2>\n

Wynn Resorts Ltd. (NASDAQ:WYNN), a company that previously said it was bleeding as much as $2.6 million per da<\/a>y because of the Macau casino closure, could also be a rebound idea if high-end revenue on the peninsula bounces back later this year.<\/span><\/p>\n

\u201cProvided VIP gaming trends show any signs of improving off of a near-term bottom, we expect to see relative outperformance in WYNN shares, given the company\u2019s greater relative exposure to the VIP\/premium mass segments of the market,\u201d said Wieczynski.<\/span><\/p>\n

The analyst has \u201cbuy\u201d ratings on both LVS and Wynn<\/strong>.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

On Sunday, the Macau Gaming Inspection and Coordination Bureau (DICJ) said gross gaming revenue (GGR) there plunged a whopping 87.8 percent last month due to the novel coronavirus outbreak. But at least one analyst remains upbeat on some operators, including Las Vegas Sands (NYSE:LVS). That decline \u2013 Macau’s worst on record \u2013 was widely anticipated, […]<\/p>\n","protected":false},"author":46,"featured_media":128618,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10],"tags":[],"acf":[],"yoast_head":"\nMacau Looks Rough, but One Analyst Still Likes Las Vegas Sands Stock<\/title>\n<meta name=\"description\" content=\"Macau stocks are being punished again, but one analyst likes LVS for the long-term and sees opportunity with Wynn Resorts, too.\" \/>\n<meta name=\"robots\" content=\"noindex, follow\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Macau Looks Rough, but One Analyst Still Likes Las Vegas Sands Stock\" \/>\n<meta property=\"og:description\" content=\"Macau stocks are being punished again, but one analyst likes LVS for the long-term and sees opportunity with Wynn Resorts, too.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/macau-looks-rough-but-one-analyst-still-likes-las-vegas-sands-stock\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-03-02T16:25:45+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-03-02T18:34:06+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/03\/lvs.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"853\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-looks-rough-but-one-analyst-still-likes-las-vegas-sands-stock\/\",\"url\":\"https:\/\/www.casino.org\/news\/macau-looks-rough-but-one-analyst-still-likes-las-vegas-sands-stock\/\",\"name\":\"Macau Looks Rough, but One Analyst Still Likes Las Vegas Sands Stock\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-looks-rough-but-one-analyst-still-likes-las-vegas-sands-stock\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-looks-rough-but-one-analyst-still-likes-las-vegas-sands-stock\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/03\/lvs.jpg\",\"datePublished\":\"2020-03-02T16:25:45+00:00\",\"dateModified\":\"2020-03-02T18:34:06+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Macau stocks are being punished again, but one analyst likes LVS for the long-term and sees opportunity with Wynn Resorts, too.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/macau-looks-rough-but-one-analyst-still-likes-las-vegas-sands-stock\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/macau-looks-rough-but-one-analyst-still-likes-las-vegas-sands-stock\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/macau-looks-rough-but-one-analyst-still-likes-las-vegas-sands-stock\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/03\/lvs.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/03\/lvs.jpg\",\"width\":1280,\"height\":853,\"caption\":\"Things look rough in Macau, but one analyst still likes shares of Las Vegas Sands. 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