Vince Martin
Long/short equity, value, gambling

Pair Trade Suggestion: Buy Las Vegas Sands, Sell Sands China

Considering the company is called Las Vegas Sands (NYSE:LVS), it's funny how few investors and analysts ever discuss the company's Las Vegas operations. All anyone really wants to talk about is Macau, no surprise given its importance to LVS, the drama over the past eighteen months, and the hopes for a rebound (and fears of a collapse).

But there is a lot more to LVS than Macau, and a lot more lot more, so to speak, since Q2 2014, when Macau profits peaked. And right now, I'd rather have the Singapore and US businesses than LVS' operations in Macau, even with The Parisian coming online this fall (or perhaps sooner). I'm bearish on Macau as a whole, and

Join Seeking Alpha PRO to read this archived article and 11,574 other archived articles
IDEA GENERATORXExclusive access to 10 PRO ideas every day
INVESTING IDEAS LIBRARYXExclusive access to PRO library of more than 15,000 ideas
SECTOR EXPERT NETWORKXExclusive access to all sector experts for direct consultation
PERFORMANCE TRACKINGXTrack performance of all PRO stock ideas
PROFESSIONAL TOOLSXProfessional Idea Filters to zero-in based on industry, market cap and more
"In just the first month of using PRO, I used it to generate two ideas which were actionable for me. As a result of these two positions, I have earned more than 20 times the annual subscription costs for PRO."Michael Yagemann, Greenbridge Capital
"I am pleasantly surprised with the scope of small and mid-cap coverage PRO offers. You can't find that any where else."Patrick Rice, Mainstay Capital Management
You may cancel at any time for any reason, and receive a prompt refund for membership on months paid and not used (max. 6 months). Details