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All grown up and no place to go? Cantor Fitzgerald's Robert LaFleur weighs in the maturing...

All grown up and no place to go? Cantor Fitzgerald's Robert LaFleur weighs in the maturing gaming sector with the strong view the oft-discussed REIT play pulled out by Penn National Gaming won't be the go-to move of peers. The analyst expects the industry to see slower growth and increased buyback/dividend activity, while the hyper-growth dreams on Asia fade into a different phase.
Comments (3)
  • zorro2828
    , contributor
    Comments (602) | Send Message
     
    Could not disagree more.. with LaFleur. LVS is a dominate player with a wickedly amazing CEO and major shareholder that shows not only vision but creativity and has repositioned his offerings so as to be in such close contact to billions more people including India, China and the Asian Pacific coast. As the AP middle class grows the one thing the orientals love to do, is gamble. The REIT structure would place LVS shares at about $85 ... Cantor is behind the ball here and I hope they short LVS if they have the courage of this poorly constructed thinking! LaFleur is French.. that about suns it up!
    28 Nov 2012, 11:05 AM Reply Like
  • TFCAB
    , contributor
    Comments (1977) | Send Message
     
    i agree w/ you Zorro. I am not knowledgeable enough to comment or speculate on the appropriateness of a REIT structure for LVS, but i do not think Asia will be fading off into "another phase" anytime soon. As the Chinese and other Asia-pac countries expand their middle class and economies there will be millions and millions of folks looking for a getaway. All roads, high-speed rail, and airplanes will be pointed to Macau where LVS has and will have a dominant position.
    28 Nov 2012, 11:51 AM Reply Like
  • Polishqueue
    , contributor
    Comments (9) | Send Message
     
    I agree with both of my two co-commenters' here, but I also find it simply amazing that NONE of the "professional" commentators seem to have noticed that OTHER important "message from the voters" that occurred in November... at least those in Washington and Colorado.

     

    Both of these states passed constitutional amendments making them the only places on earth (not just the U.S.) where possession of recreational quantities of what is otherwise a banned substance will become legal on January 1st. Just what do you imagine is going to happen to the ski resorts and casino industry there, when the tourist season goes from a few weeks in the mountain ski areas to year-round everywhere! Not to mention pizza shops. Many sectors of visitor-driven commerce are going to turn into gold mines, and I'm talking about wealthy, international visitors who will be able to safely indulge in what might be far too risky anywhere else. Why would they go to spend their money in Vegas, or Macau. I believe Penn National already knows this. Boyd and Vail, too. Probably LVS as well, though no one's talking about it. Yet. Come to think of it, maybe Domino's and Papa John's, too. Remember, delivery pizza doesn't require anyone to drive anywhere -- a big plus when (1) you can't, and (2) you mustn't. Oh, and (3) you've GOT to have a pizza and RIGHT NOW. Maybe 2.
    29 Nov 2012, 10:08 AM Reply Like
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