View Full Version : PREDICTION: LVS IPO = Market top for casino stocks

12-16-2004, 06:55 AM
Las Vegas Sands Shares Soar in NYSE Debut (http://news.yahoo.com/news?tmpl=story&u=/ap/20041216/ap_on_bi_ge/vegas_sands_6)

I can't see how these valuations are justifiable.

Disclaimer: I sold SHFL about 100% ago, so what do I know? /images/graemlins/grin.gif

12-16-2004, 01:58 PM
I agree the market for certain names is totally wacked - Wynn has a market cap of $6.4B and they haven't even opened the doors!!!

12-16-2004, 04:38 PM
The lead underwriter was Goldman. They have energetic MM's that can manuever a stock very well...don't stay in the water too long, though...

12-17-2004, 03:10 AM
Las Vegas Sands: We feel that $21/share is a more than reasonable price. That puts us about on par with Harrah's and MGM-Mirage in terms of market cap even though our stable of properties is much smaller and less diversified...

Retail Investor: I'll give you $28/share!

Las Vegas Sands: /images/graemlins/shocked.gif

Retail Investor: OK $50/share but not a penny more!

Las Vegas Sands: You drive a hard bargain... /images/graemlins/cool.gif