Streetbeat News

LVS

Las Vegas Sands Corp.

https://www.sands.com

Industry

Gambling, Resorts & Casinos

Las Vegas Sands Corp., together with its subsidiaries, develops, owns, and operates integrated resorts in Asia and the United States. It owns and operates The Venetian Macao Resort Hotel, the Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Hotel Macao, Cotai Strip, and the Sands Macao in Macao, the People's Republic of China; and Marina Bay Sands in Singapore. The company also owns and operates The Venetian Resort Hotel Casino on the Las Vegas Strip; and the Sands Expo and Convention Center in Las Vegas, Nevada. Its integrated resorts feature accommodations, gaming, entertainment and retail malls, convention and exhibition facilities, celebrity chef restaurants, and other amenities. Las Vegas Sands Corp. was founded in 1988 and is based in Las Vegas, Nevada.

Open

48.45

Mkt cap

35B

Volume

4.8M

High

48.78

P/E Ratio

23.74

52-wk high

55.66

Low

47.73

Div yield

0.02

52-wk low

36.62

Las Vegas Sands Corp (NYSE:LVS) stock is trading lower after the announcement that majority shareholder Miriam Adelson and The Miriam Adelson Trust are selling $2 billion worth of stock at $44 per share. The offering is set to close on Dec. 1, and the company will not benefit financially from the sale. Adelson plans to use the proceeds to potentially purchase a majority interest in the Dallas Mavericks. Las Vegas Sands will repurchase approximately 5.78 million shares for $250 million in connection with the offering. LVS shares dropped 3.9% to $45.80 following the news.

Portfolio Pulse from Adam Eckert

November 29, 2023 | 2:08 pm

Las Vegas Sands Corp. (LVS) shares have dropped following the announcement of a common stock offering pricing by its principal stockholder.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 1:49 pm

Leslie's, Inc. reported mixed Q4 results with revenue exceeding estimates but earnings per share falling short, causing a 15% pre-market drop. Verve Therapeutics announced a public offering and private placement, leading to an 11.2% pre-market decline. Cabaletta Bio continued to fall after FDA concerns over CAR T cell therapies. Okta disclosed a data breach affecting all support system users. Cool Company reported Q3 results, contributing to a pre-market dip. Las Vegas Sands announced a stock offering by its principal stockholder. Philips faced FDA safety concerns with its CPAP machines. Farfetch delayed its Q3 financial results announcement.

Portfolio Pulse from Lisa Levin

November 29, 2023 | 10:48 am

Las Vegas Sands Corp. (LVS) has announced the pricing of a secondary public offering of 46,264,168 shares by principal stockholder Dr. Miriam Adelson and The Miriam Adelson Trust at $44 per share. The offering is set to close on December 1, 2023, and the company will not receive any proceeds from the sale.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 7:04 am

Mark Cuban is reportedly selling a majority stake in the Dallas Mavericks to Miriam Adelson and her family. Adelson is divesting $2 billion worth of her Las Vegas Sands Corp. (LVS) shares to fund the purchase. Cuban will retain some ownership and manage basketball operations. The sale follows Cuban's announcement of his departure from 'Shark Tank' after the next season.

Portfolio Pulse from Benzinga Neuro

November 29, 2023 | 4:07 am

Las Vegas Sands Corp. (LVS) shares fell in after-hours trading following the announcement of a $2 billion secondary public offering of shares by Miriam Adelson and The Miriam Adelson Trust. The company plans to repurchase $250 million of the stock from the offering but will not receive any proceeds from the sale. The proceeds are intended for the purchase of a majority interest in a professional sports franchise. The Selling Stockholders will enter into a 365-day lock-up agreement post-offering.

Portfolio Pulse from Ryan Gustafson

November 28, 2023 | 10:41 pm

Las Vegas Sands Corp. has announced the start of a proposed secondary public offering of $2 billion worth of shares by selling stockholders. This offering will not provide any proceeds to the company itself, as the shares are being sold by existing stockholders.

Portfolio Pulse from Benzinga Newsdesk

November 28, 2023 | 9:26 pm

Over the past 15 years, Las Vegas Sands (NYSE:LVS) has delivered an average annual return of 16.27%, outperforming the market by 4.86% on an annualized basis. A $1000 investment in LVS 15 years ago would be worth $10,224.74 today. The company currently has a market capitalization of $38.00 billion.

Portfolio Pulse from Benzinga Insights

November 22, 2023 | 5:30 pm

Las Vegas Sands (NYSE:LVS) has experienced a 34.4% increase in short interest since its last report, with 12.45 million shares sold short, representing 3.36% of its float. It would take about 2.37 days to cover all short positions. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. LVS has less short interest compared to its peer group average of 4.31%.

Portfolio Pulse from Benzinga Insights

November 17, 2023 | 8:00 pm

Howard Jay Klein, an advisor and author, published an article with a positive outlook on Las Vegas Sands (NYSE:LVS), setting a price target of $70. Additionally, Inside Asian Gaming released a video showing LVS's market share gains in Macau, contrasting with Wynn Resorts' (NASDAQ:WYNN) share loss after disappointing 3Q earnings. LVS's share of total casino win in Macau rose to 26.9%, and its share of adjusted property EBITDA increased to 34.9%. LVS was not negatively impacted by WYNN's poor quarter.

Portfolio Pulse from Gary Brode

November 17, 2023 | 1:52 pm

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