{"id":211141,"date":"2022-04-28T09:59:02","date_gmt":"2022-04-28T16:59:02","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=211141"},"modified":"2022-04-28T12:02:33","modified_gmt":"2022-04-28T19:02:33","slug":"las-vegas-sands-pinched-by-price-target-cuts-macau-weakness","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/las-vegas-sands-pinched-by-price-target-cuts-macau-weakness\/","title":{"rendered":"Las Vegas Sands Quiet on Thailand Plans, Prefers Restoring Dividend to Buyback"},"content":{"rendered":"

Las Vegas Sands (NYSE:LVS) is trading lower today — a day after delivering first-quarter results that included positive earnings before interest, taxes, depreciation and amortization (EBITDA) at its Marina Bay Sands integrated resort in Singapore.<\/p>\n

\"LVS
Marina Bay Sands, seen above, was a source of strength for Las Vegas Sands in the first quarter. Several analysts still lowered price targets on the stock. (Image: Reuters<\/em>)<\/figcaption><\/figure>\n

The company reported a loss of 41 cents for the first three months of 2022 on revenue of $943 million. Analysts expected a per-share loss of 24 cents on sales of $1.130 billion. Ongoing weakness in Macau<\/a>, where Sands operates five gaming venues, remains fresh on analysts\u2019 minds, as at least five members of the sell-side community trimmed price targets on LVS stock.<\/p>\n

The current concessions have been extended to yearend and LVS remains optimistic that the re-tender process should be concluded by then,\u201d said CBRE analyst John DeCree in a note to clients. \u201cThe successful completion of the concession rebids will remove a long-standing overhang for the shares, but we still need to see signs of a sustainable reopening and fundamental recovery in GGR to get more constructive on Macau.\u201d<\/p><\/blockquote>\n

UBS analyst Robin Farley is among the analysts clipping price projections on Sands. But she notes investors shouldn\u2019t ignore the fact the company could generate $1 billion in EBITDA in Singapore over the next year.<\/p>\n

Thailand Talk, Capital Return Update<\/h2>\n

The LVS roster currently consists of the five Macau properties and Marina Bay Sands, making any expansion talk compelling.<\/p>\n

Analysts and investors are undoubtedly interested in rumors tying Sands to a yet-to-be-confirmed integrated resort effort in Thailand, <\/a>likely Bangkok. But CEO Rob Goldstein didn\u2019t shine any light on that topic during a conference call with analysts.<\/p>\n

\u201cI think it\u2019s premature,\u201d he said in response to an analyst question. \u201cWe\u2019re looking at a lot of different things in Asia, and that\u2019s certainly a list of things. But I think it\u2019s premature to get ahead of ourselves there.\u201d<\/p>\n

\n

With its stock down 43.57% over the past year and more gaming companies announcing share buyback plans, LVS is getting questions regarding its own shareholder reward plans. Instead of repurchasing its shares, the operator prefers restoring its dividend<\/a>, which was suspended two years ago due to the coronavirus pandemic.<\/p>\n<\/div>\n

\u201cIt’s (the dividend) something that we want to look at in terms of really long-term operational cash flow growth. And then we’ll size it accordingly and look to that to recur before we actually start the dividend again,\u201d said CFO Patrick Dumont in response to an analyst question.<\/p>\n

He added the focus is on investing in Macau and Singapore, resuming the dividend when cash flow rebounds, and evaluating share buybacks \u201cwhere the opportunities arise.\u201d<\/p>\n

US Plans<\/h2>\n

As noted above, the LVS portfolio consists solely of Asia properties for the time being. But the company is mulling some US markets \u2013namely Florida, New York, and Texas.<\/p>\n

The company recently scrapped a 2022 ballot initiative<\/a> in Florida, though Goldstein acknowledges Sands isn\u2019t abandoning the state.<\/p>\n

\u201cWe failed in Florida recently, but we’re not done with Florida. We’re still looking at that. And there are places we can go and invest the kind of money on investment, the kind of returns we want, we’re not going to be buying small businesses,\u201d he said on the call. \u201cSo I think at this point, as I talk to you today, it would have to be Texas, New York, and perhaps, Florida.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"

Las Vegas Sands (NYSE:LVS) is trading lower today — a day after delivering first-quarter results that included positive earnings before interest, taxes, depreciation and amortization (EBITDA) at its Marina Bay Sands integrated resort in Singapore. The company reported a loss of 41 cents for the first three months of 2022 on revenue of $943 million. […]<\/p>\n","protected":false},"author":46,"featured_media":211143,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[69069,10],"tags":[],"acf":[],"yoast_head":"\nLas Vegas Sands Pinched By Price Target Cuts, Macau Weakness<\/title>\n<meta name=\"description\" content=\"Las Vegas Sands quiet on Thailand plans, looking to eventually restore dividend.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/las-vegas-sands-pinched-by-price-target-cuts-macau-weakness\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Las Vegas Sands Pinched By Price Target Cuts, Macau Weakness\" \/>\n<meta property=\"og:description\" content=\"Las Vegas Sands quiet on Thailand plans, looking to eventually restore dividend.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/las-vegas-sands-pinched-by-price-target-cuts-macau-weakness\/\" \/>\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=\"2022-04-28T16:59:02+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-28T19:02:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/04\/MBS-scaled.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2560\" \/>\n\t<meta property=\"og:image:height\" content=\"1710\" \/>\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\/las-vegas-sands-pinched-by-price-target-cuts-macau-weakness\/\",\"url\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-pinched-by-price-target-cuts-macau-weakness\/\",\"name\":\"Las Vegas Sands Pinched By Price Target Cuts, Macau Weakness\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-pinched-by-price-target-cuts-macau-weakness\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-pinched-by-price-target-cuts-macau-weakness\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/04\/MBS-scaled.jpg\",\"datePublished\":\"2022-04-28T16:59:02+00:00\",\"dateModified\":\"2022-04-28T19:02:33+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Las Vegas Sands quiet on Thailand plans, looking to eventually restore dividend.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-pinched-by-price-target-cuts-macau-weakness\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/las-vegas-sands-pinched-by-price-target-cuts-macau-weakness\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-pinched-by-price-target-cuts-macau-weakness\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/04\/MBS-scaled.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/04\/MBS-scaled.jpg\",\"width\":2560,\"height\":1710,\"caption\":\"Marina Bay Sands was a source of strength for Las Vegas Sands in the first quarter. 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