floated the idea<\/a> of LVS possibly acquiring rival Wynn Resorts (NASDAQ:WYNN), although Wynn executives said they’re not interested in consolidation at the moment.<\/p>\nWhile that marriage may seem like a far-flung concept, it’s sensible for Sands because Wynn Macau’s VIP clientele would augment LVS’s dominant market share of mass and premium mass players.<\/p>\n
Concession Renewal Delays<\/h2>\n
Another potential stumbling block created in Macau by way of COVID-19 is renewal of the six concessionaires’ gaming permits.<\/p>\n
With a change in leadership last year, it was expected the Macau government would ramp up the license renewal process in 2020 ahead of the 2022 deadline for license renewal. However, Farley sees that effort dragging into 2023 because of legislative hurdles caused by the coronavirus pandemic.<\/p>\n
Macau’s US-based concessionaires are LVS, MGM Resorts International, and Wynn. The other three are Galaxy Entertainment, Melco Resorts & Entertainment, and SJM Holdings.<\/p>\n
Farley has a \u201cneutral\u201d rating on LVS with a $53 price target. That implies upside of 13.2 percent from where the shares trade at this writing<\/strong>.<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":"
Shares of Las Vegas Sands (NYSE:LVS) dipped Monday after UBS analyst Robin Farley pared her earnings before interest, taxes, depreciation and amortization (EBITDA) estimates on the operator, citing sluggish demand in Macau \u2013 the company’s most important market. Farley trimmed her 2020 EBITDA forecast for the Venetian Macau operator by 30 percent and the 2021 […]<\/p>\n","protected":false},"author":46,"featured_media":139424,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,62],"tags":[],"acf":[],"yoast_head":"\n
Sands EBITDA Estimates Cut as Analyst Sees Weak Macau Demand<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n