Hudson Securities Discusses Room Rates In Vegas (LVS)

Hudson Securities is out with a research report on the room rates in Las Vegas. Las Vegas Sands LVS is mentioned in the note. In a note to investors, Hudson writes, "This week, average asking rates were down. The premium properties were weak including the LVS and WYNN casinos and at the higher-end of the MGM portfolio. In our CityCenter survey, this week is our first look at July rates. Currently, July average asking rates are priced below May and June levels. Demand has been event- driven by conventions or other major events, like this past weekend's Manny Pacquiao fight. The event calendar slows considerably into the summer months and we will be closely monitoring how July asking rates trends in the coming weeks." Shares of LVS closed at $43.22 yesterday.