Gabelli Has Buy Rating On Las Vegas Sands

Gabelli & Co. is out with a research report on Las Vegas Sands LVS and it has a Buy rating on shares. In a note to clients, Gabelli & Co. writes, "The Marina Bay Sands in Singapore that began operations on April 27, 2010 generated net revenues and EBITDA of $737.6 and $405.4 mm, respectively (at 55% margin). Casino revenues for Las Vegas operations (including Palazzo) were up 2.1% to $105 mm due strong group meeting and convention business, room revenues were down 6% to $112.9 mm and food and beverage revenues were up 12.4% to $63.4 mm." Shares of LVS are up $2.25 in pre-market trading to $48.55.