NEW YORK (TheStreet) -- Las Vegas Sands Corp. (LVS) - Get Report stock is falling by 0.87% to $37.48 in mid-afternoon trading on Wednesday, following a drop in Nevada gaming revenues.

Total gaming revenue fell 1.39% year-over-year to $908.24 million in August, according to data from the Nevada Gaming Control Board.

From July 1, the beginning of the fiscal year, to August 31, statewide gaming revenue declining 1.17% to $1.83 billion.

Gaming revenue from the Las Vegas strip decreased 4.66% year-over-year to $527.38 million in August and has declined 3.4% in the first two months of the fiscal year.

Las Vegas Sands, which owns the Venetian Las Vegas and the Palazzo on the Las Vegas strip, reported a 2% decline in revenue at its Las Vegas operations driven by a 17.1% drop in casino revenues for the quarter ended June 30.

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 number of 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 reasonable valuation levels, expanding profit margins and notable return on equity. We feel its strengths outweigh the fact that the company has had sub par growth in net income.

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

  • 46.52% is the gross profit margin for LAS VEGAS SANDS CORP which we consider to be strong. It has increased from the same quarter the previous year. Along with this, the net profit margin of 16.05% is above that of the industry average.
  • LVS, with its decline in revenue, underperformed when compared the industry average of 3.8%. Since the same quarter one year prior, revenues fell by 19.4%. Weakness in the company's revenue seems to have hurt the bottom line, decreasing earnings per share.
  • The company's current return on equity has slightly decreased from the same quarter one year prior. This implies a minor weakness in the organization. When compared to other companies in the Hotels, Restaurants & Leisure industry and the overall market, LAS VEGAS SANDS CORP's return on equity exceeds that of the industry average and significantly exceeds that of the S&P 500.
  • LAS VEGAS SANDS CORP's earnings per share declined by 28.9% in the most recent quarter compared to the same quarter a year ago. This company has reported somewhat volatile earnings recently. We feel it is likely to report a decline in earnings 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 26.5% in earnings ($2.58 versus $3.51).
  • You can view the full analysis from the report here: LVS