Las Vegas Sands (LVS) Stock Climbing on Better Than Expected Macau Revenue

Las Vegas Sands (LVS) stock is gaining as the dip in Macau revenue for April was less than expected.

Author:: Amanda Schiavo
Publish date:: May 2, 2016 11:36 AM EDT

Bloomberg News

NEW YORK (TheStreet) -- Shares of Las Vegas Sands (LVS) - Get Report are higher by 4.32% to $47.10 on Monday morning, as some stocks within the casino sector get a boost from the latest monthly revenue results out of China's Macau gaming hub.

Macau's April revenue declined by less than what was expected, Bloomberg reports, as signs point to a stabilization in the only region in China where gambling is legal.

Macau has seen a month over month decline in revenue since 2014 as the Chinese's government's anti-corruption crackdown kept VIP and high stakes players away from the tables.

Gaming revenue in Macau in April fell by 9.5% to 17.3 billion patacas or $2.2 billion, Bloomberg added. This is the 23 consecutive month of declines.

Analysts had been expecting a drop of 13.5%.

"The casinos produced another reasonable monthly revenue performance in what is a seasonally slower shoulder month," Tim Craighead, a Bloomberg Intelligence analyst, told the publication. "It still looks to us that the business is stabilizing and the next big catalysts to watch for are the summer travel season and the new resorts from Wynn Macau and Sands China."

Las Vegas Sands is a Las Vegas-based resorts and casino operator with locations in the U.S. and across Asia.

Separately, TheStreet Ratings has set a "buy" rating and a score of B on Las Vegas Sands stock. This is driven by a number of strengths, which TheStreet Ratings believes should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks it covers.

We feel its strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.

TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

You can view the full analysis from the report here: LVS