Ray Dalio’s Top 10 Growth Stock Picks with 30+% Revenue Growth

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

Number of Hedge Fund Investors  in Q1 2024: 52

1 Yr Revenue Growth: 151%

Bridgewater Associates’ Q1 2024 Stake: $19.4 million

Las Vegas Sands Corp. (NYSE:LVS) is a casino company that is riding the growth wave on the back of the Chinese recovery from the coronavirus pandemic. This is because all of its most profitable properties are located in Macao along with Singapore. China’s extreme Zero COVID restrictions sapped the life out of the tourism industry, and naturally, Las Vegas Sands Corp. (NYSE:LVS)’s revenue fell as a result. In 2020, it earned $2.9 billion in revenue, and this jumped to $10.3 billion in 2023. The one year 151% revenue growth by 2023 end was also on the back of strong operating income performance. Las Vegas Sands Corp. (NYSE:LVS)’s operating income grew sequentially in all of its quarters in 2023, and it ended the fourth quarter with $654 million in EBITDA. Potential tailwinds to the stock can come in the form of further stimulus by the Chinese government to encourage tourism, such as encouraging visa free entry for some travelers. However, Las Vegas Sands Corp. (NYSE:LVS)’s key indicator of gross gaming revenue (GGR) can struggle if the impact of fresh capital control restrictions in China depresses casino spending.

Another key aspect of Las Vegas Sands Corp. (NYSE:LVS)’s performance is the impact of capital heavy spending on Macao property refurbishment. Here’s what the firm had to say on this front 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.”