Here’s a Top 10 list Las Vegas Sands Corp. would have liked to avoid
The Business Insider ranked the casino operator as one of the 10 big companies with the highest probability of declaring bankruptcy among publicly traded firms.
Some of the high-profile names appearing on the list include Hertz, Sprint Nextel, Macy’s and Goodyear.
If there is a bright spot, Las Vegas Sands was ranked ninth out of the 10.
The analysis, which was published on Yahoo Finance, painted a bleak picture.
“Las Vegas Sands over-expanded and over-levered in the last few years and now has over $10 billion in debt to deal with.
“Despite jumping 13 times from their March low, Las Vegas Sands shares still face an uphill battle.
“Conditions in Las Vegas are horrible, Asian expansion isn’t enough, and if this lasts too long then Las Vegas Sands will end up in bankruptcy court looking like it bit off more than it can chew.”
