As you know, the market hasn’t exactly been cooperating lately. But I still managed to find a stock to tell you about today. It’s Las Vegas Sands (LVS), which has appeared in Cabot Top Ten Weekly eight times since 2006 and three in 2010 alone! Editor Michael Cintolo wrote this about it earlier this month:
“Las Vegas may get top billing in this company’s name, but its profit center is increasingly in the special administrative unit of Macao on the south coast of China. Like Hong Kong, Macao has a high degree of independence, and has emerged as one of the world’s gambling centers (and the only place in China where gambling is legal), providing Chinese high rollers with easy access to casinos like the Sands Macao, The Venetian Macao Resort Hotel and the Four Seasons Hotel Macao, Cotai Strip. The company’s Las Vegas properties (The Venetian Resort Hotel Casino, The Palazzo Resort Hotel Casino and The Sands Expo and Convention Center) contributed just 24% of 2009 revenues, while the Venetian Macao kicked in 44% and the Sands Macao 22%, making it very clear which way the balance of power is shifting in the gambling world. On July 28, Las Vegas Sands booked an impressive 1,600% jump in earnings in Q2, on a 51% jump in revenue. After-tax profits hit 8.1%, which was double the Q1 rate. Everything seems to be breaking in the company’s direction just now, and the opening of a new casino in Singapore is expected to heat things up even more.
“LVS is a volatile stock, and any story with implications for the health of the global economy will move it around. The stock made a nice March-April run, soaring from 16 to 26. Then came three months of trading in wide swings, although both lows and highs continued to rise. The July 28 earnings report didn’t produce a huge breakout, but trading volume rose significantly and the stock subsequently ripped past its June high. A dip to 28 is likely, and would be a prudent buying opportunity.”
Since LVS was recommend in Cabot Top Ten Weekly in March, it’s up 61%! And the long-term potential for LVS is enormous.
Click here to learn more about Las Vegas Sands and other leading stocks featured in Cabot Top Ten Weekly.