Las Vegas Sands
Macau, you see, wrested that title away from Las Vegas back in 2006 - with hotels and casinos that are mind-blowing in size and scope - even by extravagant Las Vegas standards.And now those moves are about to pay off in a big way...
Hot Stocks: Las Vegas Sands Corp. (NYSE: LVS) Has the Hot Hand Among Casino Operators
Las Vegas Sands Corp. (NYSE:LVS) has gained more than 200% this year, rising from $14.94 at the beginning of January 2010 to close yesterday (Tuesday) at $47.23.
Given that spectacular run, you might think that the LVS play is over - but it's not. In fact, investors would be wise to keep their money on the table. And here's why.
Originating with the famous Sands Hotel in 1952, Las Vegas Sands has expanded into the luxury casino resort market in recent years, opening The Venetian Las Vegas resort in 1999.
Gambling on Casino Stocks: Where Should Investors Place Their Bets?
Casino stocks lost big last month as weak earnings and new gambling restrictions in Macao drove investors away from the highly cyclical sector. But the future may not be as bleak as many investors fear, which means casinos could be building towards a big payout.
Shares of both Wynn Resorts Ltd. (Nasdaq: WYNN) and MGM Mirage (NYSE: MGM) are down more than 20% this month, while Las Vegas Sands Corp. (NYSE: LVS) stock has tumbled 15%.
"Casino stocks were so badly beaten during the crisis last year, they were probably only second to banking stocks," Lawrence Ho, who owns Macao's City of Dreams casino, told MarketWatch. "They were so beaten that even after the run they've had this year they're nowhere near the valuations they were at in 2007 or early 2008."