Gross gaming revenue in gambling hub Macau fell by 0.1% to $2.4 billion in February, Bloomberg reports. Analysts were anticipating a 2% drop.
January's decline was 21.4%.
"The fact that the market almost grew in February despite continued VIP woes leads us to believe mass market increased nicely year-on-year in February, which is what investors likely need to see more of," Union Gaming Group analyst Grant Govertsen wrote in a note, Bloomberg adds.
However, March and April gambling revenue will likely slump by 13% and 6%, respectively, before returning positive in June, Govertsen continued.
Las Vegas Sands is a casino operator with operations in Macau, Singapore and the U.S.
Separately, TheStreet Ratings team rates the stock as a "hold" with a ratings score of C.
The primary factors that have impacted our rating are mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of either a positive or negative performance for this stock relative to most other stocks. At the same time, however, we also find weaknesses including deteriorating net income, a generally disappointing performance in the stock itself and feeble growth in the company's earnings per share.
You can view the full analysis from the report here: LVS
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 article's author.LVS data by YCharts