10 Best Casino Stocks that Pay Dividends

2. Las Vegas Sands Corp. (NYSE:LVS)

Number of Hedge Fund Holders: 40

Las Vegas Sands Corp. (NYSE:LVS) is an American casino and resort company, headquartered in Nevada. The company’s recent performance has demonstrated operational growth compared to the previous year. Leadership remains optimistic about their ability to achieve industry-leading growth in both markets in the coming years, as they continue to execute significant capital investment programs in Macau and Singapore. That said, the stock has been underperforming for some time due to fluctuating consumer spending and other macroeconomic factors. Additionally, the company’s Macau operations, which made up over 60% of its revenue before the pandemic, are also contributing to the decline due to uncertainty surrounding the Chinese economy. Since the start of 2024, LVS is down by over 23%.

In its Q2 2024 earnings report, Las Vegas Sands Corp. (NYSE:LVS) mentioned the recovery in Macau during this period, though visitor numbers remain significantly lower than pre-pandemic levels. The company’s long-standing commitment to investing in initiatives that boost Macau’s business and leisure tourism, and its development as a global center for both, positions it favorably as travel and tourism spending gradually recovers. It reported revenue of $2.76 billion in the second quarter of 2024, up 8.62% from the same period last year.

Las Vegas Sands Corp. (NYSE:LVS) is optimistic about its operations in Macau and Singapore primarily due to its industry-leading cash flow. This would help the company to fund its ongoing investment and capital expenditure programs in both these locations, drive the pursuit of growth opportunities in new markets, and support its initiative to return excess capital to shareholders. At the end of June 2024, the company had unrestricted cash balances of $4.71 billion. It currently offers a quarterly dividend of $0.20 per share and has a dividend yield of 2.03%, as of September 12.

At the end of June 2024, 40 hedge funds remained bullish on Las Vegas Sands Corp. (NYSE:LVS), compared with 52 funds in the previous quarter, as per Insider Monkey’s database. The stakes held by these hedge funds are worth $2.3 billion in total.