iStockanalyst, 25 Feb 2009, Salman
The outlook for casino resort company Las Vegas Sands Corp. (NYSE: LVS) keeps getting darker. Shares of the Paradise, Nevada based company have fallen sharply in recent times as challenging economic conditions forced businesses and consumers to cut down drastically on travel and entertainment expenses.
Jeffrey Logsdon of BMO Capital Markets expects the company to report a 2009 loss of 33 cents a share compared to an earlier estimate of a loss of 24 cents a share for the year. Logsdon blames increased competition and severe economic downturn for the revised outlook. He feels that the company will continue to face pressure this year as further weakness is expected in both the Las Vegas and Macau markets.
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