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Good news for investors who have their money in the Las Vegas Sands (LVS) as investment banking firm Craig-Hallum recommended a long position in shares of the company. This comes at a time when a growing number of poker players have called for a boycott of the Sheldon Adelson owned property.
Poker players are furious over Adelson’s published opt-ed pieces protesting the trend towards legalized Web gambling within the United States. He called for even harsher federal regulations while comparing the activity to a cancer.
Shareholders remain content, however, especially after Tuesday’s slight gains of 2.5 percent.
Bryan Maher, an analyst with Craig-Hallum, noted that shares of Las Vegas Sands have “become much more palatable”. He suggested a bullish position, upgrading the company from a “Hold” to a “Buy”.
Concerns raised over China’s liquidity problems should not affect the gambling sector in Macau, home of one Las Vegas Sands property, Maher suggests.
The Chinese government poses no real threat to the company’s profitability, he added.
Likewise protesting poker players shouldn’t impact the company’s bottom line. That said, poker rooms within establishments such as the Adelson-owned Venetian could ultimately see some fall out and this is something Gambling911.com will monitor closely.
The Poker Players Alliance said on Tuesday that they were not behind any organized efforts to boycott Adelson’s casinos.
- Aaron Goldstein, Gambling911.com
