Gambling Sector Anxiously Awaiting Las Vegas Sands 2012 Q2 Earnings Wednesday
Sheldon Adelson’s Las Vegas Sands (LVS) earnings report for 2012 Q2 was to come out on Wednesday, expected after the market closes.
Early forecasts from Wall Street call for an 11 percent increase in earnings per share, to 60 cents while revenue is expected to jump almost 19 percent for $2.783 billion.
Sands is considered number one in Las Vegas in terms of revenue. By comparison, number two, Wynn Resorts, missed the mark two weeks ago by 10 cents. Revenue fell sharply by 8 percent to $1.253 billion.
Las Vegas Sands is expected to focus more heavily on Macau. The Chinese gambling Mecca contributes as much as 50 percent to the Sands revenues and stock valuation.
LVS is also believed to be focusing on expansion plans in India, Japan, Korea, Taiwan and Vietnam.
- Aaron Goldstein, Gambling911.com
