China eased its restrictions on local tourists visiting Macau, letting them stay in the city for seven days, according to Bloomberg. Previous rules only let tourists stay in Macau for a total of five days at a time.
The Chinese government recently shortened the length of its visas for Macau due to reports of widespread cheating by visa holders who claimed to visit another location while only spending time in Macau, according to the news service.
Las Vegas Sands is a casino operator with some operations in Macau.
About 3.7 million shares of Las Vegas Sands were traded by 12:55 p.m. Tuesday, compared to the company's average trading volume of about 5.2 million shares a day.
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 notable return on equity and expanding profit margins. We feel its strengths outweigh the fact that the company has had sub par growth in net income."