NEW YORK (TheStreet) -- Shares of Las Vegas Sands Corp. (LVS) - Get Report are higher by 0.72% to $57.50 at the start of trading on Tuesday morning, as the stock has so far been unaffected by the 49% decline in gaming revenue out of China's Macau gambling district.

In February the sector's gaming revenue dropped to $2.4 million, according to Macau's Gambling Inspection and Coordination Bureau.

Revenue was almost cut in half last month as a result of the government crackdown on corruption in China, which has been keeping a lot of high stakes gamblers away from the tables even during the peak Lunar New Year holiday.

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Macau's gaming revenue began to decline last year as VIP gamblers started to keep away from the city due to President XI Jinping's anti-graft campaign and as the country's economy started to slow down, Bloomberg reports.

"The biggest culprit for the weak month was the already troubled VIP segment. While we believe there was a pickup in VIP headcount, gaming volumes just weren't there," Union Gaming Group analyst Grant Govertsen told Bloomberg.

Separately, TheStreet Ratings team rates LAS VEGAS SANDS CORP as a Buy with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:

"We rate LAS VEGAS SANDS CORP (LVS) a BUY. This is driven by a few notable strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its compelling growth in net income and impressive record of earnings per share growth. We feel these strengths outweigh the fact that the company has had lackluster performance in the stock itself."

Highlights from the analysis by TheStreet Ratings Team goes as follows:

• The net income growth from the same quarter one year ago has exceeded that of the S&P 500 and greatly outperformed compared to the Hotels, Restaurants & Leisure industry average. The net income increased by 24.9% when compared to the same quarter one year prior, going from $577.54 million to $721.31 million.
• Regardless of the drop in revenue, the company managed to outperform against the industry average of 7.7%. Since the same quarter one year prior, revenues slightly dropped by 6.5%. The declining revenue has not hurt the company's bottom line, with increasing earnings per share.
• LAS VEGAS SANDS CORP has improved earnings per share by 28.6% in the most recent quarter compared to the same quarter a year ago. The company has demonstrated a pattern of positive earnings per share growth over the past two years. However, we anticipate underperformance relative to this pattern in the coming year. During the past fiscal year, LAS VEGAS SANDS CORP increased its bottom line by earning $3.51 versus $2.79 in the prior year. For the next year, the market is expecting a contraction of 8.0% in earnings ($3.23 versus $3.51).
• LVS's stock share price has done very poorly compared to where it was a year ago: Despite any rallies, the net result is that it is down by 31.82%, which is also worse that the performance of the S&P 500 Index. Investors have so far failed to pay much attention to the earnings improvements the company has managed to achieve over the last quarter. Looking ahead, the stock's sharp decline over the past year may have been what was needed in order to bring its value into alignment with its fundamentals and others in its industry.
• You can view the full analysis from the report here: LVS Ratings Report