Las Vegas Sands (LVS)

• Market cap: $23.5B
• 1 day: 2.86%
• 5 days: 3.25%
• 1 month: -24.96%
• 3 months: -26.19%
• 6 months: -35.49%
• Year to date: -34.33%
• 1 year: -34.76%
• 5 years: -30.29%
• 10 years: -40.59%
• Sector: Consumer Discretionary
• Industry: Resorts & Casinos

About: 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, Londoner Macao, Four Seasons Hotel Macao, and Parisian Macao, as well as the Marina Bay Sands resort in Singapore. We expect Sands to open a fourth tower in Singapore in 2031. Its Venetian and Palazzo Las Vegas assets in the US were sold to Apollo and Vici in 2022. After the sale of its Vegas assets, the company generates all its EBITDA from Asia, with its casino operations generating the majority of sales.

Employees: 40,300

Fund manager confidence

Based on 2024 Q4 regulatory disclosures by fund managers ($100M+ AUM)

68% more call options, than puts

Call options by funds: $1.01B | Put options by funds: $599M

43% more first-time investments, than exits

New positions opened: 117 | Existing positions closed: 82

9% more capital invested

Capital invested by funds: $16.6B [Q3] → $18.1B (+$1.47B) [Q4]

4% more funds holding

Funds holding: 594 [Q3] → 616 (+22) [Q4]

2.49% more ownership

Funds ownership: 44.81% [Q3] → 47.3% (+2.49%) [Q4]

5% less repeat investments, than reductions

Existing positions increased: 206 | Existing positions reduced: 216

50% less funds holding in top 10

Funds holding in top 10: 4 [Q3] → 2 (-2) [Q4]

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $45 37% upside
• Avg. target: $57 75% upside
• High target: $67 104% upside

4 analyst ratings

• positive: 3 75%
• neutral: 1 25%
• negative: 0 0%

Morgan Stanley Stephen Grambling 41% 1-year accuracy 11 / 27 met price target	37% upside $45	Equal-Weight Maintained	16 Apr 2025
Macquarie Chad Beynon 18% 1-year accuracy 9 / 49 met price target	77% upside $58	Outperform Maintained	31 Jan 2025
Citigroup George Choi 0% 1-year accuracy 0 / 4 met price target	104% upside $67	Buy Maintained	30 Jan 2025
Wells Fargo Daniel Politzer 21% 1-year accuracy 12 / 57 met price target	80% upside $59	Overweight Maintained	30 Jan 2025