A "Powerful Recovery" in Macao Could Help Lift Las Vegas Sands Stock

Markets Insider
 
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The pandemic dealt a tough blow to casino resorts, but business is gearing up again. With its Singapore resort humming along nicely and Macao back open for business, Las Vegas Sands (NYSE: LVS) is focused on recovery and a bright future. Let's look at the company's recent quarterly results to get a better idea of where the casino stock might be headed.In the first quarter of 2023, Las Vegas Sands' revenue rose 125% year over year to $2.1 billion. Its Marina Bay Sands property in Singapore led the way, generating revenue of $848 million. Las Vegas Sands now operates six resorts -- five in Macao and one in Singapore -- after recently completing the divestiture of its Las Vegas properties for $3.6 billion. Continue reading