NEW YORK (TheStreet) -- Despite an investigation regarding potentially illegal business practices in Macau, Las Vegas Sands continues to be a buy -- at least, that is, according to the investors in our latest poll.
An overwhelming majority -- 89.6% -- of respondent to TheStreet's poll declared the casino giant to still be a winning bet.
Earlier this week, Sands China issued a statement saying it is being probed by Hong Kong Securities and Futures Commission for alleged breaches of regulation. Government officials in China "requested to produce certain documents."
The company also received a subpoena from the Securities and Exchange Commission requesting the company provide compliance documents related to the Foreign Corrupt Practices Act.Las Vegas Sands has also noted that it is the subject of an investigation by the Department of Justice. The allegations stem from claims made by former Sands China CEO, Steve Jacobs, regarding the bribing of officials. Las Vegas Sands has publicly denied these allegations. Jacobs has claimed that he was fired from the company in July 2010 without cause after refusing to carry out demands made by Las Vegas Sands CEO Sheldon Adelson. "IBM (IBM) recently settled a Foreign Corrupt Practices Act with the federal government for $10 million and the allegation were similar to those against LVS, but had gone on for a decade. If the federal government is consistent, that's a drop in the bucket relative to revenues from Sands China," one reader commented.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV