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Las Vegas Sands – Highlighting Some Excellent Work

This piece was originally published on November 16th, 2023.

Today there were two pieces of excellent work out on Las Vegas Sands ($LVS) worth highlighting.


First, Howard Jay Klein, a member of the DKI Board of Advisors and the author of The House Edge, published an excellent and detailed article addressing the opportunity and risks in the stock and concludes with a price target of $70.


Second, when competitor, Wynn Resorts ($WYNN) announced 3Q earnings, the stock fell due to disappointment regarding performance at one of its Macau casinos. Inside Asian Gaming put out a great video last night detailing market share gains and losses in the Macau market. It shows that while $WYNN lost share, $LVS’ share of total casino win in the world’s largest gaming market rose from 23.2% in the third quarter of 2019 to 26.9% last quarter. In addition, $LVS’ share of adjusted property EBITDA grew from 33.6% to 34.9% in the same time-frame.


Perceptions of $WYNN’s disappointing quarter did not affect results at $LVS. if you have any questions.


Information contained in this report is believed by Deep Knowledge Investing (“DKI”) to be accurate and/or derived from sources which it believes to be reliable; however, such information is presented without warranty of any kind, whether express or implied and DKI makes no representation as to the completeness, timeliness or accuracy of the information contained therein or with regard to the results to be obtained from its use.  The provision of the information contained in the Services shall not be deemed to obligate DKI to provide updated or similar information in the future except to the extent it may be required to do so. 


The information we provide is publicly available; our reports are neither an offer nor a solicitation to buy or sell securities. All expressions of opinion are precisely that and are subject to change. DKI, affiliates of DKI or its principal or others associated with DKI may have, take or sell positions in securities of companies about which we write. 


Our opinions are not advice that investment in a company’s securities is suitable for any particular investor. Each investor should consult with and rely on his or its own investigation, due diligence and the recommendations of investment professionals whom the investor has engaged for that purpose. 


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