Last $62.87 USD
Change Today +1.70 / 2.78%
Volume 9.3M
As of 3:54 PM 09/17/14 All times are local (Market data is delayed by at least 15 minutes).

las vegas sands corp (LVS) Key Developments

KEPCO Mulls Gangnam Headquarter Sale

Korea Electric Power Corp. (KOSE:A015760) (KEPCO)intends to launch a bidding procedure for headquarters in Gangnam. KEPCO said that the site of its main office in Samseong-dong, Gangnam-gu in southern Seoul, is estimated to have a market value of KRW 3.3 trillion while the publicly noticed value of the land, set by the government, is KRW 1.48 trillion. Hyundai Motor Company (KOSE:A005380), Samsung Electronics Co. Ltd. (KOSE:A005930), Shanghai Greenland (Group) Co., Ltd. and Las Vegas Sands Corp. (NYSE:LVS) have shown interest. The bids will be accepted till September 17, 2014 and the bidder submitting the highest offer will be selected as the winner of the auction. Hyundai Motor released a statement on August 29, 2014 saying that it will actively seek to acquire the site to build its global headquarters, theme park, convention center and other facilities for the public. Samsung has said that it will make a final decision whether to bid for the land after conducting a thorough study.

Las Vegas Sands Corp. Appoints Steven L. Gerard as Director and New Member of its Audit Committee, Compensation Committee and Compliance Committee

On July 15, 2014, the Board of Directors of Las Vegas Sands Corp. elected Steven L. Gerard to the Board as a Class I director, whose term will expire in 2017. The Board also appointed Mr. Gerard as a new member of its Audit Committee, Compensation Committee and Compliance Committee.

Las Vegas Sands Corp. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2014; Declares Quarterly Dividend for the Third Quarter of 2014, Payable on September 30, 2014

Las Vegas Sands Corp. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported total revenues of $3,827,024,000 compared with $3,404,573,000 for the same period a year ago. Operating income was $961,460,000 compared with $780,641,000 for the same period a year ago. Income before income taxes was $899,761,000 compared with $719,394,000 for the same period a year ago. Net income attributable to Las Vegas Sands Corp. was $671,434,000 or $0.83 per diluted share compared with $529,753,000 or $0.64 per diluted share for the same period a year ago. Adjusted property EBITDA was $1,312,643,000 compared with $1,106,920,000 for the same period a year ago. Adjusted net income was $690,352,000 or $0.85 per diluted share compared with $540,612,000 or $0.65 per diluted share for the same period a year ago. Capital expenditures during the second quarter totaled $275.1 million, including construction, development and maintenance activities of $221.0 million in Macao, $34.2 million in Las Vegas, $18.0 million at Marina Bay Sands and $1.9 million at Sands Bethlehem. For the six months, the company reported total revenues of $8,048,505,000 compared with $6,862,494,000 for the same period a year ago. Operating income was $2,105,285,000 compared with $1,607,344,000 for the same period a year ago. Income before income taxes was $1,955,642,000 compared with $1,478,950,000 for the same period a year ago. Net income attributable to Las Vegas Sands Corp. was $1,447,619,000 or $1.78 per diluted share compared with $1,101,714,000 or $1.33 per diluted share for the same period a year ago. Adjusted property EBITDA was $2,792,342,000 compared with $2,273,553,000 for the same period a year ago. Adjusted net income was $1,484,242,000 or $1.82 per diluted share compared with $1,124,530,000 or $1.36 per diluted share for the same period a year ago. The company announced that its next recurring quarterly dividend for the third quarter of 2014 of $0.50 per common share will be paid on September 30, 2014 to company shareholders of record on September 22, 2014.

Las Vegas Sands Sues for $5 Billion over Trade Secret Theft by Asian American Entertainment Corp

Las Vegas Sands and its Chairman, Sheldon Adelson are being sued for $5 billion by Asian American Entertainment Corp. on allegations that LVS secured a casino license from Macau government officials using plans developed in partnership with Asian American Entertainment Corp. The chairman of Asian American Entertainment, Shi-Sheng "Marshall" Hao, negotiated an agreement with Adelson, Sands's majority shareholder, in 2001 to win the contract to develop Sands' Macau casino. Asian American Entertainment accuses Sands of "surreptitiously" sharing the plans with Galaxy Entertainment Group.

Las Vegas Sands Corp. to Report Q2, 2014 Results on Jul 16, 2014

Las Vegas Sands Corp. announced that they will report Q2, 2014 results at 5:00 PM, Eastern Standard Time on Jul 16, 2014

 

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Price/Earnings 19.2x
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Price/Book 6.9x
Price/Cash Flow 13.6x
TEV/Sales 2.3x
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