Las Vegas Sands Is More Than Just a Casino Operator

Everyone knows Las Vegas Sands (NYSE: LVS  ) is one of the biggest and most profitable casino gambling operations in the world. Not only does it have two world-class casinos in the United States' gambling mecca of Las Vegas, but it is also one of the key players in the world's biggest gaming markets: Macau and Singapore. Investors would be forgiven for thinking that the company makes plenty of money owning properties like The Palazzo stateside and The Venetian Macau in China, but the company doesn't stop there: It is also one of the largest mall operators in the world. Motley Fool consumer goods analyst Sean O'Reilly digs into Las Vegas Sands operations and details why Las Vegas Sands is so successful: what it does beyond traditional gaming operations. 

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  • Report this Comment On July 06, 2014, at 12:15 PM, spokanimal wrote:

    You showed LVS's grand canal shoppes in Vegas as an example of some of the malls that LVS owns.

    Sean, I believe LVS sold that mall a few years ago.

    Remember that LVS sees it's malls as "non-core" assets. The company's business plan envisions selling it's non-core assets to recycle the proceeds (and immense profits therein) into more development and growth.

    Many of it's non-core assets have not yet been sold due to restrictions on doing so, but the company also now has way more cash flow than it has good development opportunities, so hanging onto it's remaining non-core assets makes sense as a logical alternative to investing it's cash into lower-yielding, liquid assets.

    Should Japan, or maybe a "locals included" resort development in Korea type of opportunity (ies) suddenly become available, however, then look for LVS to slow the growth of it's dividend, and become more active in selling it's malls to finance the over-the-top investments that those opportunities will require.

    Spokanimal

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