NEW YORK (TheStreet) -- Las Vegas Sands (LVS) reports earnings after the bell on Wednesday and analysts have set the bar high for the international Casino company, expecting 37.5% growth in earnings compared to second quarter results in 2013.
Las Vegas Sands, with casinos in Las Vegas, Macao, and Singapore, reports earnings Wednesday after the close of trading. Estimates of $0.89 would be $0.24 larger than earnings for second quarter 2013. Sands earnings in the first quarter were able to beat last year's earnings by 15.2%, according to Sands' previous earnings report. But analysts are now estimating that Sands will grow almost twice as much year over year as it did last quarter.
Sands has been seeing much larger revenue coming from Asia, while the once great Las Vegas is dwarfed in comparison to the Chinese Macao. The Sands resorts in Macao beat growth rates for the Macao gaming industry last quarter. Sands is planning to open another resort in Macao, The Parisian Macao, with over 3,000 rooms set for completion in late 2015. However, Sands does not yet have gambling approval for theses resorts from the Macao government.
The Asian American Entertainment Corporation filed a lawsuit against Sands last month over an "alleged breach of agreements" between the two companies while bidding for Macao gaming concessions. Bloomberg published an article earlier this week on the filing. However, Sands does not seem worried about the filing.
"Using a different lawyer every time, AA has repeatedly filed lawsuits trying to take credit for that which they didn't do. US courts have consistently rejected those efforts. LVS will respond to this latest version of the same meritless lawsuit in court," Ron Reese wrote on behalf of the Sands.
Las Vegas Sands' earnings conference call is scheduled for 4:30pm New York time.
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