Why Singapore Is the Secret Sauce for this Sin City Casino Stock

Core Insights - Las Vegas Sands, despite its name, does not operate any casinos in Las Vegas, having sold the Venetian Resort in February 2022, and currently focuses on five gaming venues in Macao and Marina Bay Sands in Singapore [3][7] - Marina Bay Sands is a highly profitable asset, contributing significantly to the company's earnings, with third-quarter adjusted EBITDA reported at $743 million, positioning it for an annual EBITDA of $2.7 billion [5][6] - Analysts believe that the value of Marina Bay Sands is not fully reflected in Sands' stock price, with estimates suggesting it could be worth $42 per share on a standalone basis [6][7] Company Performance - The company has seen a positive trajectory in Singapore, with management acknowledging that their previous EBITDA forecasts were conservative, now suggesting potential annual figures could reach $2.8 billion or $2.9 billion [6] - The stock price of Sands is primarily influenced by news from Macao, which may overlook the significant contributions from Marina Bay Sands [6] Market Perspective - Investors are encouraged to consider the long-term potential of Marina Bay Sands, as its profitability is expected to have lasting positive effects on the company's stock performance [4][5]