International edition
June 24, 2021

According to a poll by TheStreet.com's readers

Las Vegas Sands expected to win in 2010

(US).- Las Vegas Sands is pegged to be the top performing company in the gaming industry in 2010, according to TheStreet.com's readers. The casino operator garnered nearly 50 % of the vote in our weekly poll, just as it is set to embark on what has been deemed a massive initial public offering.

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ny day now, Sands expects to raise as much as us$ 3.4 billion in the offering of its Macau assets on the Hong Kong stock exchange. This week, however, experts were of the mind that this could be a bit pricey, and that Sands may have to resort to a lower offering in order to get the deal done. As a result, shares of the company ended the week down 6 % at us$ 16.35.

 

Wynn Resorts placed second in the poll with 21.2 % of the vote. It, too, has recently issued an offering of its Macau assets, which garnered us$ 1.9 billion. Jim Cramer said on Thursday that he is bullish on the stock, but bearish on rival MGM

 

Speaking of which, MGM came in third in the poll, garnering 20.3% of the vote. Its CityCenter development was a focal point of this week's Global Gaming Expo in Las Vegas. Investors are waiting to see if the us$ 8 billion development will draw visitors to the strip, cannibalize other casinos - or both.

 

Regardless, it appears the gaming technology companies, which make the slot machines and for casino floors, apparently won't be as lucky. WMS Gaming and Bally Technologies), ranked fourth and fifth in the poll, respectively. Indeed, sales of slot machines were depressed in the third quarter, as the four major slot makers combined sold fewer machines in the third quarter than at any period in the last decade, Nick Khin an executive at Aristocrat Technologies, said during the Global Gaming Expo.

 

To counteract that trend, WMS is hoping its new "Price is Right" game, which was unveiled at the expo, will generate some buzz, while Bally introduced its Cash Spin game and seven other wheel products.

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