Las Vegas Sands at Cusp of Industry Revival

  • Date: 22-Apr-2021
  • Source: Yahoo News
  • Sector:Industrial
  • Country:Gulf
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Las Vegas Sands at Cusp of Industry Revival

Oops!Something went wrong.Please try again later.Alan FarleyApril 21, 2021, 7:00 AM·2 min readOops!Something went wrong.Please try again later.Las Vegas Sands Corp. (LVS) reports Q1 2021 earnings after Wednesday's closing bell, offering a glimpse into the gaming industry's ongoing recovery from the COVID-19 pandemic. Analysts are looking for the old school operator to lose $0.22 per-share on $1.37 billion in revenue, worse than the $0.02 loss reported in the same quarter last year. The stock ran in place after missing Q4 2020 top and bottom line estimates in January and is now trading close to a 14-month high.Leaving Las VegasThe Nevada Gaming Board reported that statewide ‘gaming win' fell 25.9% year-over-year in February, with a 41.5% loss on the Las Vegas Strip. The March report at the end of this month should offer greater transparency into current conditions because it should compare favorably to March 2020, when the industry came to a grinding halt. Even so, challenges remain, with Nevada casinos allowing just 50% of capacity until final restrictions are lifted in June.This should be Las Vegas Sands' last full quarter with Nevada exposure, despite the company's name, because it sold The Venetian and Sands Expo and Convention Center in March