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Las Vegas Sands Corp. Message Board

  • grftt grftt Feb 21, 2013 2:38 AM Flag

    Profits are high forget the rolling chip count, mass market is the key..4 times more profitable

    Union Gaming Research noted that lower gross gaming revenue during the Lunar New Year period did not necessarily mean lower profits for gaming operators.

    “Given the continued positive mass market inflection, it is important to keep in mind the significantly higher profitability associated with this segment,” Macau-based analysts Grant Govertsen and Felicity Chiang wrote yesterday in a note.

    “Throughout the Chinese New Year period, we witnessed table minimums on general mass market floors were generally in a range of 100 percent to 300 percent higher than normal levels,” they added.

    Sentiment: Strong Buy

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    • Feb 21, 2013 1:23 PM Flag

      I believe LVS is pretty much averaging a 21% market share in Macau (last 5 months). That belies the fact that LVS is mass oriented and I haven't made the effort to figure out our mass market share percent, but I've seen it noted at 23% about a year ago. Now we need to look at the margin difference between VIP and mass and I've seen 10% and 35% used respectively. So, mass is over 3 times more profitable than VIP. It looks like most CNY was mass and GGR is down a couple percent or up 6 percent depending on the source and I'm going with a 3% GGR increase for February. February is then looking pretty good for LVS and I bet WYNN is challenged. January saw a 7.3% increase in GGR. The economic recovery continues in the US and China. One more day like today and I will probably dip into my reserve to purchase additional shares. At $47 (an irrational price), .35 times 4 = $1.40, $1.40/$47 = a nice 3% dividend yield and I don't mind going into my reserve for that kind of dividend yield. Full disclosure, I have to decide between Apple and LVS, but I'm leaning toward LVS with this correction du jour. I believe, even with my terrible impatience, I can hold indefinitely with a 3% yield. I still favor the 2nd quarter, but our 1st quarter is looking good and will surprise given all the doom and gloom being bandied about and I'm really suspicious of anything from Lusa, so I guess we have to expect another visit from Steven Cortez on CNBC. Rant over. In all seriousness, good luck.



      Sentiment: Strong Sell

    • On the last British rumor, Chinese analysts came out to defend. After a few days, all losses were recovered.
      This time around, nobody came out to defend. All those pumpers analysts are suddenly silenced.
      Simply, VIP number is very specially handled, nobody know how the number is compiled.
      Firms and junkets use this number to manipulate the stocks.
      None of the VIP 'rumor' should affect Sands. In fact Sands just got the best CNY and it was punished. It's a case of sell the good news.

      Sentiment: Hold

63.77+1.18(+1.89%)Nov 21 4:02 PMEST

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