5 Best Casino Stocks to Buy for 2023

3. Las Vegas Sands Corp. (NYSE:LVS)

Number of Hedge Fund Holders: 48

Las Vegas Sands Corp. (NYSE:LVS) develops, owns, and operates integrated resorts in Asia and the US. The company is based in Las Vegas, Nevada.

CICC initiated coverage of shares of Las Vegas Sands Corp. (NYSE:LVS) on November 25 with an Outperform rating and a $54 price target.

Las Vegas Sands Corp. (NYSE:LVS) has a resilient balance sheet showing $5.84 billion in cash on hand, $7.64 in cash per share, and leveraged free cash flow of $2.22 billion. The company’s third-quarter results show rising revenue and easing losses, leading to a bullish case for its performance in 2023.

Las Vegas Sands Corp. (NYSE:LVS) was found among the 13F holdings of 48 hedge funds in the third quarter. Their total stake value was $880 million.

Baron Funds, an investment management company, mentioned Las Vegas Sands Corp. (NYSE:LVS) in its third-quarter 2022 investor letter. Here’s what the firm said:

“The shares of Las Vegas Sands Corp. (NYSE:LVS) performed well in the most recent quarter in part due to the decision by China’s central government to ease the visa policy for Macau, which should result in increased travel into Macau for the first time since the outbreak of COVID-19.

Sands is a global leader in the development and operation of luxury casino resorts in Macau and Singapore, and it maintains a liquid and investment grade balance sheet. We anticipate that management may begin to return capital to shareholders through dividends and share buybacks as Singapore and Macau recover.

The shares are valued at a significant discount to our assessment of replacement cost, and the company’s Macau operations are valued at only 7 times estimated cash flow.”

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