Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Casino operator Las Vegas Sands (NYSE: LVS ) saw its shares pop as high as 12% in intraday trading, after posting better-than-expected quarterly results.
So what: Fueled largely by healthy Macau gambling growth and its new casino in Singapore, Las Vegas Sands posted a third-quarter profit of $265 million (excluding one-time items) on a record $1.91 billion in revenue. Even more surprisingly, however, even Las Vegas revenues managed to spike. Naturally, these results bode well for MGM International (NYSE: MGM ) , Wynn Resorts (NYSE: WYNN ) , and Melco Crown (Nasdaq: MPEL ) , which all report next week.
Now what: Billionaire CEO Sheldon Adelson said that Las Vegas Sands' business has "never been healthier," so who am I to argue? Earlier this month, I tapped Las Vegas Sands as a particularly tasty casino bet for its massive exposure to Macau. But with the company's Las Vegas business (still about 15% of revenue) beginning to rebound, and its Asian casinos doing much better than expected, Las Vegas Sands might even be a better gamble than I thought.
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