5 Cheap Gaming Stocks to Buy Now

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

Number of Hedge Fund Holders: 48  

Share Price as of December 5: $47.52 

Las Vegas Sands Corp. (NYSE:LVS) develops, owns, and operates integrated resorts in Asia and the United States. On November 26, Macao revealed that it has tentatively renewed the casino licenses of MGM Resorts, Las Vegas Sands, Wynn Resorts and three Chinese rivals after they promised to help diversify its economy by investing in non-gambling attractions. The stock of Las Vegas rose as a result. 

On November 28, JPMorgan analyst Joseph Greff maintained an Overweight rating on Las Vegas Sands Corp. (NYSE:LVS) stock and raised the price target to $51 from $44, highlighting the stock’s risk/reward had improved given the anticipation of continued positive inflection in visitation, revenues, and EBITDA at Marina Bay Sands, Singapore.  

Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Las Vegas Sands Corp. (NYSE:LVS) with 3.5 million shares worth more than $129.8 million. 

In its Q3 2022 investor letter, Baron Funds, an asset management firm, highlighted a few stocks and Las Vegas Sands Corp. (NYSE:LVS) was one of them. Here is what the fund 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.”