Macau GDP Weakens in Q3; Visa Restrictions to be Lifted? (LVS)
The Statistics and Census Service (DSEC) today released 3rd quarter GDP for the Macau Special Administrative Region of China. Growth slowed sharply, coming in at just 11.3% for the 3rd quarter, after posting gains of 32% and 22% in the first two quarters, respectively.
Gross Casino Revenue grew 27.6% after registering 47.6% in the 2nd quarter. [...]
Las Vegas Sands Seeking Club Loan, Buffer Cash (LVS)
Reuters ran a story this morning with sources stating that Goldman Sachs (GS) is in talks to put together a syndicate loan for Las Vegas Sands subsidiary Venetian Macau Ltd., to the tune of about $1 billion. According to the story, the loan would be based on the lots 5 & 6 on the Cotai [...]
Las Vegas Sands - Thoughts on 2009 Sustainability (LVS)
With the final pricing news out Friday from Las Vegas Sands’ (LVS) massive preferred stock, common stock, and warrant offering, I finally feel like there’s enough “accurate” numbers available to determine whether the casino & resort operator can make it through 2009.
Big prizes certainly await shareholders if this modern-day Spruce Goose can make it to [...]
Las Vegas Sands Conducts Massive Offering; Should Raise $1.5B (LVS)
In one of most dilutive offerings we’ve seen in some time, casino & resort operator Las Vegas Sands today announced a major restructuring effort aimed at staving off the breaching of key loan covenants in the 4th quarter.
The massive offering includes the issuance of 181.8 million shares of common stock, and a package including 5.2 [...]
Las Vegas Sands Reminds Us of its Capital Countdown Clock (LVS)
Sheldon Adelson’s baby Las Vegas Sands (of which he’s a 64% owner) issued an 8K filing and auditor’s report in which it reminded us that if the company can’t obtain substantial capital by December 31, it will break several debt covenants. Should they break them, we’re in all-out equity destruction territory, or whatever your definition [...]
MGM Reports Earnings, Las Vegas Sands Finally Pops (LVS, MGM)
The gaming stocks are all up big today, as MGM reported earnings that were (expectedly) horrible but boosted by high-end customers at the Bellagio and Macau properties. MGM shares were up over 35% mid-day, but the real winner has been Las Vegas Sands by proxy; LVS shares are up over 90%.
Somebody big has been accumulating [...]
U.S. Stocks Fight the Good Fight Today, With Several Success Stories
After seeing index futures crack the circuit breaker to the downside before the U.S. markets opened this morning, the S&P, Dow, and Nasdaq all held their ground through the trading session. Given the intense selling action in global markets prior to our opening, and the unprecedented forex activity between the USD, Yen & Euro, I [...]
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Secular Trends Holdings
- Secular Trends Portfolio Real-Time Positions
- The Fuel That Fed the Subprime Meltdown (Written in September 2007)
- Performance Studies on the DJIA & Fundamental Value Stocks (11/22/08)
- Las Vegas Sands - Are They Sustainable in 2009? (Published 11/15/08)
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