Las Vegas Sands Corp

LVS: XNYS (USA)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	$22.00	Jmqgd	Khwnzpljl

Las Vegas Sands Earnings: Industry-Leading Resorts Benefiting from Strength in Macao and Singapore

Dan Wasiolek

Jan 25, 2024

Las Vegas Sands’ fourth-quarter sales lifted 161% with EBITDA margins expanding to 41.1% from 19.9%, driven by the recovery in Macao and lasting strength in Singapore. With results near our expectations, we don’t plan a material change to our $60 fair value estimate and see shares as undervalued.

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