Macquarie Group Analyst Chad Beynon is pointing investors to Las Vegas Sands Corp. (LVS) because of its heavy exposure to the Asian market and other positive stock characteristics.
“Las Vegas Sands…generates 96% of its cash flow in Asia,” Beynon said. “It is very much an international story. We have seen the deceleration of growth and negative growth in places like Macau, but Las Vegas Sands currently pays a 4% dividend.
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Beynon also says Las Vegas Sands has a share repurchase program that would allow them to buy back another 4% of the company this year. In addition, Beynon believes LVS is the most likely candidate for gaming in Japan.
“We view Las Vegas Sands as kind of a steady cash flow story with nice capital allocation. The easy money, so to speak, has been made over the past couple of years in Macau. Growth rates continue to rise, but we still think there is incredible value in that one,” Beynon said.
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