Las Vegas Sands moves higher on news that Macau officials would not limit ATM withdrawals
Las Vegas Sands Corp. (LVS) is up 4.2% Friday morning. The stock is moving higher with the entire sector on news that officials in Macau did not reduce daily withdrawal limits for Chinese gamblers. A previous report stated that officials were planning to cut the limit of amount available for withdrawal from ATM machines in half, which would have had a material impact on money available for Chinese gamblers to spend in Macau casinos.
Las Vegas Sands Corp. (LVS) is a casino and resort operator.
Biogen Inc. (BIIB) and Stillwater Mining Company (SWC) top the list of other companies with positive news today, while Restoration Hardware Holdings, Inc. (RH) and Clearside BioMedical, Inc. (CLSD) top the list of companies with negative news.
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About Las Vegas Sands Corp.
Las Vegas Sands is the world's largest operator of fully integrated resorts, featuring casino, hotel, entertainment, food and beverage, retail, and convention center operations. The company owns the Venetian Macao, Sands Macao, Sands Cotai Central Londoner, Four Seasons Hotel Macao, and Parisian in Macau, the Marina Bay Sands resort in Singapore, and the Venetian and Palazzo Las Vegas in the U.S. We expect Sands to open a fourth tower in Singapore in mid-2023 and estimate it will open a Japanese resort in 2025. The company generates 90% of its EBITDA from Asia, and its casino operations generate 70% of revenue.