Ken Fisher’s Top 10 Growth Stock Picks with 30+% Revenue Growth

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

Number of Hedge Fund Investors  in Q1 2024: 52

3 Yr Revenue Growth: 42.14%

Fisher Investments’ Q1 2024 Stake: $611 million

Las Vegas Sands Corp. (NYSE:LVS) is an American casino company that operates properties primarily in the Chinese territory of Macao and the country of Singapore. Given the weak Chinese economy and the restrictions following the pandemic, it struggled to perform which led to a modest revenue of $2.9 billion in 2020. However, this has changed now, and in 2023, Las Vegas Sands Corp. (NYSE:LVS) earned a whopping $10.3 billion in revenue after Macao re opened in early 2023. This kicked off a sharp trend of operating income growth for the firm, as its EBITDA during Q1, Q2, Q3, and Q4 2023 sat at $400 million, $540 million, $630 million, and $654 million, respectively. Like Trip.com, Las Vegas Sands Corp. (NYSE:LVS) can also benefit from lower travel restrictions within Asia that allow consumers to flock to its facilities in Singapore and Macao. In particular, the Chinese government’s new strategy to allow on arrival visas can enable it to capture a growing number of travelers, Las Vegas Sands Corp. (NYSE:LVS) is also expanding its Macao portfolio through the Londoner, and while it expects the renovations to be complete next year, any slowdown on the regulatory or capital front could spell trouble for the shares. This is especially true since the renovation affects its cost structure.

On this front, here’s what Las Vegas Sands Corp. (NYSE:LVS)’s management had to say during the Q1 2024 earnings call:

“The ongoing capital investment programs at The Londoner and at the Cotai Arena had an impact on our results this quarter. The Cotai Arena was closed for renovation in January this year. After the significant reinvestment and renovation, the arena is expected to reopen in November. In terms of the second phase of the Londoner, we have now commenced the room renovation on the first Sheraton.

We plan the completion of the first tower by year-end and of the second tower by Golden Week in May of 2025. The renovation of the casino on the Sheraton side of London will commence in May of this year with the reopening scheduled for December of 2024. While there will be ongoing disruption from these capital projects, as these products come online between the end of ’24 and the first half of ’25, our competitive position will be stronger than ever. The scale, quality and diversity of product will be better than we have ever offered before. They will be unmatched in the market.”