Las Vegas Sands tops list of leading gaming companies

Las Vegas Sands Corp. tops a list of the world’s leading gaming companies based on market capitalization.

But the company’s Hong Kong-based subsidiary, Sands China, which covers Macau, ranked third on the list. British-based Global Betting & Gaming Consultants compiled the rankings.

Las Vegas Sands market capitalization of $25.5 billion points to a “remarkable turnaround,” said Warwick Bartlett of Global Betting & Gaming Consultants. He credited a cash infusion of more than $1 billion by Las Vegas Sands Chairman Sheldon Adelson more than two years ago, which helped the casino operator avoid a potential bankruptcy.

Sands China, which is traded on the Hong Kong Stock Exchange, had a market capitalization of $16.7 billion. Singapore’s Genting was second behind Las Vegas Sands with a market capitalization of $19.1 billion.

Two other Nevada-based companies ranked in the top 10, which was published by the Financial Times of London. Slot machine giant International Game Technology ranked seventh with a market capitalization of $5.4 billion, while Wynn Resorts placed eighth with $5.2 billion in market capitalization.

Ironically, Wynn Macau, a subsidiary of Wynn Resorts, which is traded on the Hong Kong Stock Exchange, had a market capitalization of $12.4 billion and ranked fourth on the list.

“The movement within the index reflects the changes in the global economy,” Bartlett told the Financial Times. “Asia has recognized gambling is Gross Domestic Product positive and new casinos in Singapore are expected to add 2 percent to their Gross Domestic Product in a few years.”