The Marina Bay Sands opened April 27,2010. The resort and SkyPark were officially opened on the 23 and 24 ,June 2010 .
THE STOCK WAS 25 dollars a share.
What will the stock be two years after the Parisian opens or Eurovegas or Sands Tokyo?
Marina Bay Sands is an Integrated Resort fronting Marina Bay in Singapore. Developed by Las Vegas Sands, it is billed as the world's most expensive standalone casino property at S$8 billion, including cost of the prime land.
Adelson was told by Steve Wynn not to build in Singapore or Cotai. Investors said not to buy Las Vegas Sands. The message boards have been on fire about how bad Eurovegas would be and from 2007 to 2009 Singapore drove the stock from 140 to 1.38.
We have the same contrarian investment now as we did then and that is why as long as the Board of directors keep expanding the investment will keep growing.
When Japan and EuroVegas are taking market share from Macau I will change my view of Las Vegas Sands but I think that is a little ways off. JMHO
Re: your last paragraph, I agree, because it's important to remember just how early the far east IS in the process of gaming proliferation. It is currently where the U.S. was back in the days when only AC and Nevada were mature gaming centers, and riverboat casinos in the south were just getting started.
I remember Wynn's response to Adelson re: Cotai, but not for Singapore. I also don't see LVS as the "same contrarian investment now as it was then". In my view, it still has contrarian elements in it's forward "PEG" ratio and transparency into future growth, but it's a momentum stock beyond that now.
If I had less faith that LVS's growth would not exceed it's 2014 forward P/E, forward P/CF and forward P/EBITDA, I would be moving out of the stock today.