An analyst lifted some of his earnings estimates for Las Vegas Sands Corp. on Thursday, saying the casino operator will likely have a strong performance from its Macau properties.
Jeffrey Logsdon of BMO Capital Markets said in a client note that easing visa restrictions and an improving economy will probably provide the Chinese enclave with even better results going forward. In September, Macau reported a 53 percent rise in gross gaming revenue - the third straight monthly increase.
|What an opening for Sands Casino in Pennsylvania!|
|Analyst impressed with new Las Vegas Sands casino|
|Sands casino 'steels' show in Bethlehem|
|New Sands casino helps Bally's expansion|
|Also Check out our Race & Sports Section|
Las Vegas Sands (LVS) Macau properties include the Sands Macao and Venetian Macau.
Logsdon boosted his 2009 forecast for the Las Vegas-based company to a loss of a penny per share from a loss of 6 cents per share. The analyst lifted his 2010 profit estimate to 30 cents from 28 cents per share and increased his 2011 forecast to 70 cents per share from 66 cents per share.
Logsdon also raised his estimates for the third and fourth quarters of this year.
The analyst reaffirmed an "Outperform" rating.
Question? Comment? E-mail the staff at: Staff of GamingToday