Updated from 2:46 p.m. ET
Las Vegas Sands
shares were recently trading up 31.9% to $2.85 following an upgrade to outperform.
Janet Brashear of Bernstein Research says that opening of the Marina Bay Sands in Singapore may result in $300 million in earnings before interest, taxes, depreciation and amortization for the company. Brashear expects the Sands of Bethlehem opening in May in Pennsylvania and the Marina Bay Sands "will be critical catalysts signaling the way out of this crisis."
Casino businesses have seen a drastic downturn during the recession.
Another gaming company,
lost $220.8 million, or $2.51 a share in the fourth quarter, compared with a profit of $31 million, or 35 cents a share, in the year-ago period. Excluding charges, the Las Vegas-based company announced Thursday it would have made 13 cents a share, down from 39 cents. Boyd shares were traded up 14% to $4.54.
shares were trading higher two days after the company issued a weak earnings outlook for 2009. Shares were up 2.4% to $22.28. Wynn posted a fourth-quarter loss of $1.49 per share and revenue declined 14% to $614.3 million. Adjusted earnings were $7.6 million or 7 cents per share.Analysts polled by Thomson Reuters forecast profit of 44 cents per share on revenue of $703.5 million, not counting charges.
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