This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Never Mind the Bears: Vegas Is Paying Out

For me, I don't care where it's been, only where I think it's headed. Announcements by Las Vegas Sands to refinance debt under better terms should be given a lot of weight. Refinancing can demonstrate improving financial standing. Furthermore, Las Vegas Sands' and Wynn Resorts' operational income continue to improve.

LVS Income from Cont. Ops (Quarterly) Chart

Total revenue is generally moving from the bottom left to the top right of the chart. One concern is the ability from Boyd Gaming to capture greater revenue. The location visits I mentioned earlier combined with cut-rate room rates suggest off-strip locations will be the last to recover. The last few weeks have left Boyd shares lower by about 35%.

BYD Revenue (Per Share Quarterly) Chart

The Boyd gaming area outside the VIP section was modestly busy this week, occupied by either one person or no one each time I walked past to do a count (several times a day). Customer service was excellent, as good as any more upscale restaurant on the strip I ate at. That said, the buffet was as slow as I remember during any other trip. The other casino properties were relatively busy at expected times. Even non-casino on strip restaurants displayed vigorous activity.

Anecdotally, on my recent visit, Boyd Gaming was the weakest of the pack. Overall, the space appears healthy and not subject to significant immediate supply growth. Use price retracements as buying opportunities, especially with Las Vegas Sands.

At the time of publication, Weinstein had no positions in securities mentioned.

Follow @RobertWeinstein

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
LVS $56.04 0.00%
MGM $19.62 0.00%
AAPL $121.30 0.00%
FB $94.01 0.00%
GOOG $625.61 0.00%

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs