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Thursday, December 1, 2022

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LVS – Trade of the Day

LVS is facing increasing competition in its China Casinos and looks to lose more money this year than it did last year.

They just got a downgrade I agree with at JP Morgan and they should fly down to the 200 dma of $39. Catching them anywhere above $43 today should be a good deal as the stock will certainly see $42 at some point today.

At $44.65 a share with a forward p/e (best case scenario) of 37 and a market cap of $15Bn you have to compare them to established operators MGM (p/e 20, cap 11Bn), HET (p/e 17.5, cap $12Bn) and BYD (p/e 18, $4.4Bn).

WYNN with a p/e of 57 and a cap of $6Bn is another accident waiting to happen but today the catalyst is the downgrade on LVS.

The $45 put looks very attractive at $1.50 but I would avoid paying more than $1 premium.

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