{"id":279434,"date":"2023-06-28T14:50:23","date_gmt":"2023-06-28T19:50:23","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=279434"},"modified":"2023-06-29T11:35:23","modified_gmt":"2023-06-29T16:35:23","slug":"sands-leading-in-new-york-casino-competition-says-analyst","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/sands-leading-in-new-york-casino-competition-says-analyst\/","title":{"rendered":"Sands New York Front-Runner, New Vegas Casinos on Backburner, Says Analyst"},"content":{"rendered":"

Las Vegas Sands (NYSE: LVS) is considered one of the front-runners to procure one of the three downstate casino permits in New York, according to a Wall Street analyst.<\/p>\n

\"casinos\"
The Las Vegas Strip. An analyst says it will be a while before new casino hotels are developed there. (Image: Bloomberg<\/em>)<\/figcaption><\/figure>\n

In a recent report to clients, Wells Fargo analyst Daniel Politzer noted that — when accounting for the operator\u2019s planned expenditures in Macau and what could be a $5 billion project in Nassau County, NY —<\/a> Sands has the industry\u2019s \u201cmost expensive and aspirational pipeline.\u201d<\/p>\n

We believe Sands is a front-runner, given the scale of its project, track record, and ability to work well with local constituencies,\u201d<\/strong> said Politzer of Sands\u2019 New York efforts.<\/p><\/blockquote>\n

He added that the operator\u2019s proposal is \u201cthe most compelling\u201d of the dozen or so that are vying for just three downstate permits. Sands has financial obligations to Nassau County regardless of whether or not it wins one of those licenses. In addition to enhancements in Macau, Singapore, and the prospect of building a new property in Uniondale, NY, LVS is eyeing Thailand<\/a> as another destination for an integrated resort. But Politzer didn\u2019t spill ink on that issue.<\/p>\n

Don\u2019t Expect Much<\/h2>\n

In Las Vegas, imminent additions to the city\u2019s casino supply include the Fontainebleau on the Strip and Red Rock Resorts\u2019 Durango Station in the southwest corner of the city. Both are slated to open by the end of this year.<\/p>\n

\n

After that, it\u2019s likely to be a while before another from-the-ground-up project emerges in Sin City, as operators focus on enhancing existing venues rather than opening costlier new properties. For example, Caesars Entertainment (NASDAQ: CZR) is shifting a tower from the Horseshoe<\/a>, making it part of the Paris in an effort to capitalize on the latter\u2019s higher occupancy and room rates.<\/p>\n<\/div>\n

Off the Strip, Penn Entertainment (NASDAQ: PENN) is doling out $206 million to expand M Resort in Henderson, while Red Rock recently announced plans for major renovations at Green Valley Ranch<\/a> Resort Spa & Casino, which is also located in Henderson. When Red Rock concludes Durango, the $800 million Inspirada project is likely next up for the operator.<\/p>\n

\u201cFollowing minimal development activity during the pandemic, there are now dozens of planned projects across our gaming coverage,\u201d noted Polizer.<\/p>\n

MGM, Wynn Also Strong Pipelines<\/h2>\n

With domestic expansion opportunities limited and, in some states, hindered by political haranguing, gaming companies are looking to international destinations to bolster their portfolios. That includes MGM Resorts International (NYSE: MGM) and Wynn Resorts (NASDAQ: WYNN).<\/p>\n

With local partners, MGM is planning to open an $8 billion integrated resort in Osaka, Japan\u2019s third-largest city. That project, while significant, currently isn\u2019t \u201ca needle-mover right now\u201d for MGM, because it\u2019s scheduled to come online in 2030<\/strong>.<\/p>\n

As for Wynn, that operator\u2019s Wynn Al Marjan Island<\/a> in the United Arab Emirates could be a needle-mover,\u00a0 and one that\u2019s currently \u201cunderappreciated,\u201d because it could add 10% to the operator\u2019s share price when it opens in early 2023, according to the Wells Fargo analyst.<\/p>\n","protected":false},"excerpt":{"rendered":"

Las Vegas Sands (NYSE: LVS) is considered one of the front-runners to procure one of the three downstate casino permits in New York, according to a Wall Street analyst. In a recent report to clients, Wells Fargo analyst Daniel Politzer noted that — when accounting for the operator\u2019s planned expenditures in Macau and what could […]<\/p>\n","protected":false},"author":46,"featured_media":245969,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,33810,81886],"tags":[81897,81898,23],"acf":[],"yoast_head":"\nSands Leading In New York Casino Competition, Says Analyst<\/title>\n<meta name=\"description\" content=\"Sands in front in New York, don't expect much new Las Vegas development, says analyst.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/sands-leading-in-new-york-casino-competition-says-analyst\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sands Leading In New York Casino Competition, Says Analyst\" \/>\n<meta property=\"og:description\" content=\"Sands in front in New York, don't expect much new Las Vegas development, says analyst.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/sands-leading-in-new-york-casino-competition-says-analyst\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2023-06-28T19:50:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-06-29T16:35:23+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/strip.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"801\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/sands-leading-in-new-york-casino-competition-says-analyst\/\",\"url\":\"https:\/\/www.casino.org\/news\/sands-leading-in-new-york-casino-competition-says-analyst\/\",\"name\":\"Sands Leading In New York Casino Competition, Says Analyst\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/sands-leading-in-new-york-casino-competition-says-analyst\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/sands-leading-in-new-york-casino-competition-says-analyst\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/strip.jpg\",\"datePublished\":\"2023-06-28T19:50:23+00:00\",\"dateModified\":\"2023-06-29T16:35:23+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Sands in front in New York, don't expect much new Las Vegas development, says analyst.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/sands-leading-in-new-york-casino-competition-says-analyst\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/sands-leading-in-new-york-casino-competition-says-analyst\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/sands-leading-in-new-york-casino-competition-says-analyst\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/strip.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/12\/strip.jpg\",\"width\":1200,\"height\":801,\"caption\":\"The Las Vegas Strip. 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