The Depth Report – Encouraging Signs in Casino Gaming

Overview: A week ago, we published a second recommendation on Las Vegas Sands (LVS).During the company’s earnings call, CEO, Sheldon Adelson spoke about his optimism that the gaming market would come back from Covid-19-related shut-downs. The key element of our long thesis on Las Vegas Sands is that the company’s casinos are going from closed … Read more

Las Vegas Sands (LVS)

Overview: On February 24, 2020, we published Net Short explaining that due to concerns about the coronavirus, we had gone short against the market. Over the next 3 weeks, we wrote 3 additional pieces (here, here and here) reiterating and amplifying our bearish position. During that period, the market fell 29%. Following that, the Federal … Read more