Las Vegas Sands prices stock offer, shares fall

[JBC77]

Looks like the sands has about 6 months to live. Cash position a going concern.

Shares fall from high of $120.00 last year to $5.20 today.

[JBC77]

"It clearly points to the fact that the company is in a do-or-die situation," said Sumit Desai, gaming industry analyst at Morningstar.
Desai added, "What they are doing ... will probably determine whether or not the company actually goes under or whether it can remain as a going concern and as a viable company. "I think the equity offering is going to be massively dilutive to existing shareholders."

[Bet Shooter]

Thay have some big construction in China going on and they are hemmoraging cash. They went hat in hand to the Chinese goverment and they told them to piss off. This should put them on their death bed by the end of the year. What's the world coming to if gambling is a losing business too.

[MonkeyF0cker]

I think they were considering the sale of one of their casinos in Mississippi (or somewhere else). I expect them to find a way out of this. I can't imagine them letting the Venetian and Palazzo go down in flames. That will send shockwaves through Vegas, which is struggling badly right now.

[RogueJuror]

What's the world coming to if gambling is a losing business too.

Its not gambling that's bad, its their theme-park-circus-like biz model that is.

[Wrigley]

any thoughts about MGM its trading at 11 its 52 week high was 93, could they go bankrupt or could mgm be a stock to buy if you have 3-5 years to hold it?

[WestsidePete]

SBR should buy the Sands...and change the name to the SBR Resort Gambling and Spa...

[seaborneq]

Now is the time to buy LVS.

[Poker_Beast]

SBR should buy the Sands...and change the name to the SBR Resort Gambling and Spa...

[MonkeyF0cker]

I wouldn't buy any of the gaming stocks right now except for maybe IGT. There is a ton of uncertainty right now. MGM looks bleak as well. LVS is selling diluted shares at 40% of the market. They are bleeding. This is the same type of desperation that Lehmann, Bear & Stearns, and WAMU used shortly before they folded in an attempt to shore up cash. You could very well see this company get bought out for 40 cents a share. If you do decide to invest, just beware that this is an extremely risky gamble. I'd say they have about a 10% chance of getting through this.

[MonkeyF0cker]

That said, if you do wish to roll the dice with LVS, I would wait a couple of weeks. There won't be anything but bad news coming and shares will continue to fall.