Las Vegas Sands Corp.
Thesis
Las Vegas Sands is facing significant headwinds due to declining revenues in Macau and increased competition from new casinos. The company's strategy to diversify into non-gaming revenues may not be sufficient to offset these challenges, especially with political and tax risks looming. A DCF valuation suggests a price target of $30, reflecting a bearish outlook on future earnings.
Did it work?
The pitch is a short on Las Vegas Sands with a $30 DCF-based target, but no time elapsed and no price performance data are provided, so the return cannot be weighed against the thesis. Without knowing when the pitch was made or whether the cited catalysts (Macau revenue declines, competition, tax risks) materialized after the pitch, there is no basis to confirm or invalidate the thesis. The verdict remains open pending price data or confirmation of the thesis events.