Las Vegas Sands (LVS) is a developer of destination properties that offer premium accommodations, world-class gaming, entertainment, shopping experiences, celebrity chef restaurants, and various other amenities. The company owns and operates integrated resorts in Asia and the United States, featuring a diversified platform in the hospitality and gaming industry, which has historically generated robust cash flows. Management holds a solid track record of pursuing new development opportunities too. While the company used to produce quite predictable and stable revenues and net income, COVID-19 adversely impacted the resorts and casinos industry. Many industries initially impacted have slowly but gradually recovered. Yet, hospitality and physical gambling seem to remain rather depressed.
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