Core Viewpoint - Jefferies reported that the average daily gaming revenue in Macau reached 695 million MOP as of January 25, reflecting an 18% year-on-year increase, but a slight week-on-week decline of 1% [1] Group 1: Revenue Insights - The estimated average daily gaming revenue for the remaining days of the month is projected to be between 650 million and 720 million MOP, indicating a total monthly revenue of 21.7 billion to 22.1 billion MOP, which represents a year-on-year growth of 19% to 21% [1] Group 2: Market Sentiment - The firm anticipates that the upcoming fourth-quarter earnings reports from gaming companies will restore short-term market confidence and holds a positive outlook for the performance during the Lunar New Year [1] Group 3: Company Outlook - Jefferies continues to favor stocks of Wynn Macau, Sands China, Galaxy Entertainment, Las Vegas Sands, and Wynn Resorts [1]

Core Viewpoint - Las Vegas Sands Corp. (LVS) is experiencing strong business performance in Singapore while facing challenges in Macao, leading to a mixed overall performance. Despite this, the shares are considered relatively undervalued, and the article aims to identify key drivers for potential investment opportunities [1]. Group 1: Business Performance - The company is showing strength in Singapore, indicating a positive trend in that market [1]. - Conversely, there is a noted weakness in Macao, which may impact overall performance [1]. Group 2: Investment Potential - The shares of LVS are viewed as undervalued, suggesting potential for growth and investment opportunities [1].

Group 1 - Las Vegas Sands Corp. (LVS) is experiencing strong business performance in Singapore while facing challenges in Macao [1] - Despite the mixed performance, LVS shares are considered relatively undervalued [1] - The article aims to identify important drivers influencing LVS's performance [1]

Core Viewpoint - AXA XL has appointed Liz Rychling as Head of Broker Relations for the Americas, aiming to enhance broker partnerships and market presence in the region [1][5]. Group 1: Appointment Details - Liz Rychling will be based in New York and report to Matt O'Malley, Chief Client and Distribution Officer for AXA XL in the Americas [2]. - In her role, Rychling will design and implement distribution programs, liaise with broker partners, analyze performance data, and collaborate with internal teams to improve productivity and service quality [2]. Group 2: Professional Background - Rychling has over 25 years of experience in risk management, insurance, legal, and strategic leadership, starting her career in law with a focus on insurance defense [2]. - Prior to this role, she served as Senior Vice President of Risk Management at MGM Resorts International, overseeing global insurance programs and legal teams [3]. Group 3: Leadership Perspective - Matt O'Malley highlighted Rychling's unique perspective and hands-on experience across various areas of the insurance industry, emphasizing her suitability for the role [4]. - The company expressed excitement about Rychling leading broker management initiatives to strengthen market position and drive growth [5].

Core Points - Rep. Julia Letlow (R-La.) reportedly violated the STOCK Act by failing to disclose 224 stock and bond trades within the required 45-day reporting window [2][5] - The value of these trades ranges between $225,000 and $3.3 million, including shares of major companies like Alphabet, Amazon, Apple, and Meta [3][4] - Letlow's office acknowledged the violation, stating that the trades were managed by Merrill Lynch without her direct involvement [5] Legislative Context - There is a bipartisan movement to ban members of Congress and their families from owning or trading individual stocks, highlighted by the introduction of the Restore Trust in Congress Act [6] - The STOCK Act, signed into law in 2012, mandates that members of Congress disclose transactions over $1,000 within 45 days, with penalties for violations [7] - Recent scrutiny of congressional trades has been fueled by instances of late disclosures from other lawmakers, indicating a broader issue of compliance with the STOCK Act [8][9]

Core Viewpoint - The article emphasizes the investment philosophy focused on identifying mispriced securities through understanding the financial drivers of companies, often revealed by DCF model valuation [1]. Group 1: Investment Philosophy - The investment approach is centered on small cap companies across US, Canadian, and European markets [1]. - The methodology is flexible, not confined to traditional value, dividend, or growth investing, but considers all prospects of a stock to assess risk-to-reward [1].

Core Viewpoint - Las Vegas Sands has significantly outperformed its competitors in the casino and gambling sector over the past year, and this trend is expected to continue due to favorable market conditions and strategic positioning [1]. Group 1: Stock Performance - Las Vegas Sands' stock price has increased approximately 28% over the past 12 months, reaching $60, compared to an 18% growth in the S&P 500 [2]. - Analysts have set a median price target of $69 per share for the next 12 months, with recent upgrades from Jefferies to $78 and Bank of America to $70, indicating potential upside of 15% to 30% [2]. Group 2: Market Dynamics - Las Vegas Sands does not operate any casinos in Las Vegas, which has been beneficial as tourism in Las Vegas declined significantly last year [4]. - Visitor volume to Las Vegas dropped by 7.4% last year, with room occupancy falling by 3% and average daily rates decreasing by 5% [5]. - Competitors MGM and Caesars, which have significant operations in Las Vegas, have seen their stock prices rise only 6% and fall 22% respectively, with both companies reporting declines in casino and room revenues [6]. Group 3: Growth in Key Markets - Las Vegas Sands operates exclusively in Macau and Singapore, where the markets are experiencing substantial growth [8]. - Macau recorded a record 40 million visitors in 2025, a 15% increase year-over-year, surpassing pre-pandemic levels, with expectations for further growth in 2026 [9]. - Revenue from Las Vegas Sands' Macau properties increased by 8% year-over-year to $1.9 billion in the latest quarter [9].

Core Viewpoint - Las Vegas Sands Corp. (LVS) is expected to report strong fiscal fourth-quarter earnings, with significant year-over-year growth in earnings per share (EPS) and revenue, driven by robust performance in its integrated resorts and convention centers [1][2][5]. Financial Performance - Analysts anticipate LVS will report a profit of $0.78 per share on a diluted basis for the fiscal fourth quarter of 2025, representing a 44.4% increase from $0.54 per share in the same quarter last year [2]. - For the full fiscal year 2025, EPS is projected to be $2.95, a 30% increase from $2.27 in fiscal 2024, with further growth expected to $3.15 in fiscal 2026, reflecting a 6.8% year-over-year rise [3]. Stock Performance - LVS stock has outperformed the S&P 500 Index, which gained 16.2% over the past 52 weeks, with LVS shares increasing by 25.2% during the same period [4]. - The stock also outperformed the Consumer Discretionary Select Sector SPDR Fund, which returned 6.8% in the same timeframe [4]. Revenue Drivers - The strong performance of LVS is attributed to significant revenue boosts from The Londoner Macao and Marina Bay Sands Singapore [5]. - In Q3 2025, LVS reported revenue of $3.3 billion, exceeding Wall Street forecasts of $3 billion, and its adjusted EPS of $0.78 surpassed expectations of $0.62 [5]. Analyst Ratings - The consensus opinion on LVS stock is moderately bullish, with a "Moderate Buy" rating overall. Out of 18 analysts, 12 recommend a "Strong Buy" and 6 suggest a "Hold" [6]. - The average analyst price target for LVS is $69.29, indicating a potential upside of 8.6% from current levels [6].

Group 1 - The document does not contain any relevant information regarding companies or industries [2][3][5][6]

Group 1 - The stock price of Sands China Ltd. closed at 20.84 HKD on December 24, 2025, down 0.29% from the previous trading day, with a trading volume of 161 million HKD [1] - The stock opened at 20.98 HKD, reached a high of 21.16 HKD, and a low of 20.5 HKD during the day, with a 52-week high of 22.5 HKD and a low of 11.86 HKD [1] Group 2 - The company announced a trademark renewal agreement with its controlling shareholder, Las Vegas Sands Corp. (LVS), extending the international trademark licensing agreement from January 1, 2026, to December 31, 2028, for a period of three years [2] - Under the agreement, LVS allows the group to use licensed trademarks and intellectual property in regions including mainland China, Macau, Hong Kong, and Taiwan for operating casinos, integrated resorts, and related marketing activities [2] - Licensees are required to pay an annual royalty fee of 1.5% of their total non-gaming and gaming revenue to LVS, with annual caps set at 138.5 million USD, 152.4 million USD, and 167.6 million USD for the three years based on past payments, expected revenues, and Macau's future development [2] - The agreement constitutes a continuing connected transaction under listing rules, requiring compliance with reporting, announcement, and annual review regulations, but is exempt from independent shareholder approval [2] - The board believes the transaction is conducted on normal commercial terms, is fair and reasonable, and is in the overall interest of the company and its shareholders [2]