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Enormes Reboundpotential für Las Vegas Sands? (Seite 96)

WKN: A0B8S2 | Symbol: LCR
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Die kommenden Katalysatoren feinsäuberlich zusammen getargen von SEA aus dem LVS Boord!

Catalysts - by SEA - 5/19/2014
- Round two, additional catalysts, expanded notes/detail.

I prefer posting on down days, but given we're getting close to the end of the month, I'm not sure I'll need to keep reviewing these notes to strengthen my convictions.

Macro Conditions and General Developments:

China is trying to shift toward consumption as a driver of growth rather than state investment.

China middle class (200 million in 2012) expected to more than double over the next 10 years.

Low penetration rates across China. Northern provinces are seeing double-digit yoy growth in visitation. Overall visitation up about 9% through April 2014 versus just 4.4% last year.

Double digit GGR growth in 2014 expected- cummulative GGR through April 2014, +17.5%. Fitch analysts expect growth of 12 percent in 2014. 2013 logged $45 billion in GGR a 20% YOY increase.

Per a Wells note; Macau could grow by 20% per annum if gaming revenue reaches 1.0% of China and

HK GDP. This compares to 1.0% of GDP in Australia, and 1.3% in New South Wales, Australia’s biggest state.

Japan - Ruling Liberal Democratic Party aims to secure casino bill passage by the end of the current session on June 22, 2014.

Guangzhou's migration from factory floor to financial and higher-end production (environmental emphasis).

Continued development of the western side of the delta.

Golden Pentagon - Hong Kong, Qianhai, Nansha, Macau, Hengqin.

Or Golden Triangle of Nansha, Qianhai, Hengqin - new Special Administrative Regions of Guangdong province.

Nansha - Vience of the East, water transport network

Hengqin Island development - "Orlando of China" - Chimelong Ocean Kingdom - Mainland's largest theme park - Free Willy - Not 2b confused with Chimelong Guangzhou which is loads of fun.

Qianhai - Shenzhen's own Hong Kong coming online - Manhattan of Guangdong

Hong Kong-Zhuhai-Macau Bridge - late 2016 - 4 hrs to 45 minutes. Game changer. 20% of Macau visitors from Hong Kong.

Macau Light Rail System, I estimate 1st phase toward the middle of 2015, great when finished, ~ 2 years behind schedule

Additional hotel supply and new casinos.

Gongbei–Hengqin Railway, just started, opening 2017 and continuing infrastructure developments.

Shenzhen-Zhongshan bridge - 2021.

LVS Notes, Developments and Strategy:

Commitment to double digit dividend growth, stock repurchases and possible special dividends.

Mass strategy - Mass 35% of gaming revenue, but ~68 % of gaming operating profit.

1st Quarter 2014 - EPS .95 versus .69; revenue and adjusted EBITDA up 21.4% and 26.8% respectively. EBIT margins up 300 basis points.

Buy Back - approves $2 billion stock buy back in June 2013, commits to $75 million monthly repurchases, $810 million repurchase in 1st qtr 2014, $620 million remaining.

Focus on non-gaming revenue - Sheldon noted that 25 percent of Macau EBITDA was now generated from non-gaming including hotel, retail, convention and exhibition businesses. Per Bloomberg estimates, the market average for non-gaming is about 10 percent.

Parisian - LVS estimated opening late 2015 - 7 sky cranes 4/2014, can't imagine not finishing on time from currrent construction state/progress. Substantial impact expected.

St. Regis - LVS estimated opening late 2015. Marginal impact expected.

Tropical Graden next to Shearaton Tower.

Small Tropical Graden next to Four Seasons.

Possible expansion into South Korea or Vietnam.

Acceleration of utilization (See Spok's detailed notes) rates (overhead absorption/operational efficiencies); Venetian (largest casino in the world, 6th largest building) particularly under utilized.

Table yield optimization - New premium mass gaming area at Sands Cotai Central, invested $100 million. Redeployed 75 lower performing tables to SCC to improve yields. Mass consumer being characterized as extremely robust, while VIP growth is returning to more normal growth rates of around 7%. Estimated 5,000/day premium mass players in Macau.

Wells comments that they like LVS’ superior mass-market position, market-share gains and further operational efficiencies as well as their focus on non-gaming revenue.


MBS expansion, per Sheldon, governmental approvals slow.

UnionPay looks like noise as most money laundering is through Hong Kong. Mobile UnionPay does show purchases originating in China rather than Macau, but monies are being used in gaming not offshoring, i.e., capital flight is not taking place by mass tourist using UnionPay. Mass gaming tourist just need funds and that's very visible to Reuters and makes great "Currency Smuggling" headlines. Last I looked, Macau was still part of China. LVS does escort mobile UnionPay off premises.

by SEA
Wenn das hier mal keine Aussichten sind für die Zukunft vom Sands China und seinem Mutterschiff Las Vegas Sands!

Gaming industrial hub in Hengqin could be ready in two years
May 23, 2014 Newsdesk Latest news, Macau, Top of the deck

Antwort auf Beitrag Nr.: 47.972.395 von Traumatron am 08.10.14 12:07:11Fußball WM haben wohl einige Chinesen mehr die Spiele gewettet als auf im Casino gezockt, dann kam ja noch die Russland Krise und jetzt die Hongkong Proteste...Die Besucherzahlen und GGR ging auch nur schwach nach oben im Vergleich zu den letzten Jahren....
... mal wieder die 60 USD von oben gesehen ...
Coole Dividendenrendite bei LVS - das ist ja schon historisch so.
Heute nun endlich mal wieder die 60 USD überschritten.

Ich bin zuversichtlich - siehe auch Entwicklung bei MGM Ressorts.

Vielleicht sogar auch ein (verkappter) Trump-Effekt - gespielt wird immer.
Hallo leider etwas ruhig hier geworden im Forum aber die Zahlen der Firma sind weiterhin TOP


Kann sich noch jemand erinnern ich glaube 2008/ 2009 als es die Aktie für 3 bis 5 Euro gab? hab mit der Firma einen wirklich guten Gewinn gemacht

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