Las Vegas Sands (NYSE:LVS) has strengthened its foothold in Macau with the launch of Sands Cotai Central, the newest addition to its properties in Macau. Sands Cotai will officially open on April 11, 2012, and will feature more than 600 rooms and suites under the Conrad hotel brand and have more than 1,200 rooms under the Holiday Inn brand.
LVS has invested more than $8 billion in Macau and presently enjoys a strong foothold in the region’s casino industry. According to our analysis, LVS’ Macau operations comprise the most significant factor driving the company’s share price, making up 54% of its valuation. It currently operates several facilities in Macau, including the Venetian Macao, the Sands Macao and the Plaza Casino at the Four Seasons Hotel.
The company is leaving no stone unturned to offer the ultimate experience to its customers. Sands Cotai Central also has plans to have its own theater, offering more entertainment value for the customers. According to LVS Chairman Sheldon Adelson, LVS’s gross gaming market share in Macau has grown to 19% in January 2012 from 15% a year ago. 
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Our price estimate for LVS is $57.48, which is in-line with the current market price.Notes: