AllAnalyst Report
logoMorningstarSeptember 14, 2020

Las Vegas Sands Corp.: Las Vegas Sands' Regulatory Intangible Asset Advantage Intact Amid Near-Term COVID-19 Headwinds

Symbols
LVS
Sector(s)
Consumer Cyclical
Rating
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Current Price
$49.81
Fair Value
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Economic Moat
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Stewardship
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Summary

Las Vegas Sands is the world's largest operator of fully integrated resorts, featuring casino, hotel, entertainment, food and beverage, retail, and convention center operations. The company owns the Venetian Macao, Sands Macao, Sands Cotai Central Londoner, Four Seasons Hotel Macao, and Parisian in Macao, the Marina Bay Sands resort in Singapore, and the Venetian and Palazzo Las Vegas in the U.S. We expect Sands to open a fourth tower in Singapore in mid-2023. The company generates about 90% of its EBITDA from Asia, and its casino operations generate around 70% of sales.

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