chiller

Casino Stocks Scream Value Play

What a rediculous assessment. These are value traps just like the banks. They are all too heavily leveraged with excess capacity and high overhead cost in a dwindling market. The interests on their loans are eating into their cash flow(listen to LVS conference) faster than their cost cutting efforts. Furthermore airlines are cutting back their flights to Vegas because of high oil prices which result in high air fares which further influence the spending by peoplewho actually go to Vegas.
As for Macau, the Chinese goverment have more incentive to help Chinese casinos then US because of one simple fundamental reason, they are Chinese owned and their profit will stay in China as oppose the the US casinos. A good comparison is the Chinese auto industry. They will get US companies to invest in their countries just to learn then they will copy the operations and undercut the price.

Buy Opportunity in Gaming Stocks: Reduced Targets, Easier Comparables

The p/e on LVS is insanely expensive even at this beaten-up level. If you're a value investor and have patience you'd be wise to stay away from these stocks.