Las Vegas Sands Hits A Mega-Jackpot

Watch stocks you care about

The single, easiest way to keep track of all the stocks that matter...

Your own personalized stock watchlist!

It's a 100% FREE Motley Fool service...

Click Here Now

When Las Vegas Sands (NYSE: LVS  ) won the concession to build Marina Bay Sands in Singapore, Sheldon Adelson, never one to be modest, said it would be the most profitable casino in the world.

I didn't question that would eventually come true, but in just its first full quarter of operations, Marina Bay Sands may just have achieved his lofty goal with $241.6 million in property EBITDA and $485.9 million in revenue. Wynn Resort's (Nasdaq: WYNN  ) Macau casino still has a shot when the company announces earnings next week, but it will be a tight battle.

Overall company results were incredibly impressive. The table below shows revenue, EBITDA and net income all exploding from the third quarter last year. Of course, most of this is from Marina Bay Sands, but all operations contributed positively.


Q3 2010

Q3 2009


Revenue $1.91 Billion $1.14 Billion +67.3%
Adjusted Property EBITDA $645.2 Million $272.3 Million +136.9%
Net Income $265.2 Million $20.1 Million +1,219.4%

Source: Las Vegas Sands press release.

I think everyone who watches this stock closely was expecting eye-popping numbers from Singapore, but to me the biggest surprise was in Las Vegas, where revenues were up 26.9% and adjusted property EBITDA was up 69% from a year ago. This flies in the face of MGM Resort's (NYSE: MGM  ) preliminary announcement, which pointed to falling revenue and EBITDA in the third quarter.

I combed through the press release looking for some sort of negative information and the best I could find was food and beverage revenue down 10.3% at Sands Bethlehem. And who really cares about that?

What can I say but "Wow!" for Las Vegas Sands? Earlier this week, I concluded Las Vegas Sands wasn't overpriced given its recent stock run, but maybe we need to adjust our expectations even higher. Next week we will see if Wynn and Melco Crown (Nasdaq: MPEL  ) can keep up with this outstanding performance. The bar has been set awfully high for the beginning of the casino earnings season.

Interested in reading more about Las Vegas Sands? Click here to add it to My Watchlist, and My Watchlist will find all of our Foolish analysis on this stock.

More on gaming:

Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings, or follow his Motley Fool CAPS picks at TMFFlushDraw.

Melco Crown Entertainment is a Motley Fool Global Gains choice. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

Read/Post Comments (0) | Recommend This Article (5)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 1349007, ~/Articles/ArticleHandler.aspx, 10/22/2016 4:00:44 PM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 18 hours ago Sponsored by:
DOW 18,145.71 -16.64 -0.09%
S&P 500 2,141.16 -0.18 -0.01%
NASD 5,257.40 15.57 0.30%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

10/21/2016 4:02 PM
LVS $57.16 Down -0.74 -1.28%
Las Vegas Sands CAPS Rating: ****
MGM $26.10 Down -0.02 -0.08%
MGM Resorts Intern… CAPS Rating: ***
MPEL $16.37 Down -0.20 -1.21%
Melco Crown Entert… CAPS Rating: ****
WYNN $95.27 Down -0.73 -0.76%
Wynn Resorts CAPS Rating: ****