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Gamble on Gambling: Sands IPO Tuesday

By Chuckmonster on Monday, 13th December 2004 7:31pm
  » filed under Las Vegas  comments: 0

   

Investors will soon be able to bet on another flashy casino stock, with the initial public offering of the Las Vegas Sands Corp. expected Tuesday.

Business is booming in Las Vegas and stocks in casino companies have been riding high this year, with the Dow Jones Casinos Index up more than 25% year to date. By comparison, the S&P 500 is up about 7%, and the Dow Jones Industrial Average has gained only about 1%.

Investors appear eager to pick up shares of Las Vegas Sands, which counts among its properties The Venetian Casino Resort on the Las Vegas Strip, a luxury resort complete with gondola rides and a replica of Venice's St. Mark's Square. The Venetian stands on storied ground: the site of the old Sands Hotel and Casino. Razed in 1996, the Sands was a favorite hangout of Rat Packers like Dean Martin, Frank Sinatra and Sammy Davis Jr.



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