Goldman Sachs hires from rivals to expand in mid-market deals
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 15 2024
0mins
Source: reuters
- Goldman Sachs Hires Investment Bankers: Goldman Sachs has hired two investment bankers, Kerry Burke and Eddie Rubin, from Evercore and Lazard, respectively, to focus on advising deals worth up to $2 billion.
- Diversification of Revenue Streams: The move is part of Goldman's strategy to diversify revenue by advising on smaller transactions in addition to mega deals.
- Creation of Cross Markets Group (CMG): In 2019, Goldman established the CMG unit led by David Friedland to increase its share of fees from advising on smaller acquisitions.
- Focus Industries and Team: The CMG unit covers five industries and is staffed by 200 employees, including 10 senior bankers leading different sectors.
- Trend in Investment Banking: Boutique investment banks have been aggressively hiring top dealmakers, creating opportunities for larger banks like Goldman to capture mid-market deals and generate fees.
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Analyst Views on LVS
Wall Street analysts forecast LVS stock price to rise
14 Analyst Rating
10 Buy
4 Hold
0 Sell
Moderate Buy
Current: 46.990
Low
56.89
Averages
69.12
High
80.00
Current: 46.990
Low
56.89
Averages
69.12
High
80.00
About LVS
Las Vegas Sands Corp. is a global developer and operator of destination properties (Integrated Resorts). The Integrated Resorts feature accommodations, gaming, entertainment and retail malls, convention and exhibition facilities, celebrity chef restaurants and other amenities. Its properties also cater to high-end players by providing them with luxury amenities and premium service levels. Its other amenities include luxury accommodations, restaurants, lounges, invitation-only clubs and private gaming salons. Its principal operating and developmental activities occur in two geographic areas: Macao and Singapore. In Macao, it owns The Venetian Macao Resort Hotel; The Londoner Macao; The Parisian Macao; The Plaza Macao and Four Seasons Macao, and Sands Macao. In Singapore, it owns Marina Bay Sands. It also has ferry operations. It owns and operates a collection of Integrated Resorts in the Macao Special Administrative Region of the People's Republic of China (PRC) through Sands China Ltd.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Significant Training Hours: By the end of 2025, Sands China provided over 22.6 million training hours for team members, emphasizing its commitment to enhancing professional capabilities and career development prospects, reflecting the company's long-term investment in talent cultivation.
- Continued Industry Recognition: Sands China received the prestigious Top Employer certification for the second consecutive year, becoming the first integrated resort operator in the Asia-Pacific region to achieve this, highlighting its adherence to international HR standards.
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See More
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- Awards Overview: The accolades include the Grand Winner title, Triple Crown of Employee Excellence, four golds, seven silvers, and one bronze, covering various categories such as corporate culture, employee experience, and talent development, highlighting Sands China's leadership in talent attraction and retention.
- Training and Development Commitment: By the end of 2025, Sands China provided over 22.6 million training hours for its more than 28,000 team members, with over half having over ten years of service, reflecting strong employee trust and recognition of its corporate culture.
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See More
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See More
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- Potential in Texas: Although Las Vegas Sands withdrew its casino plan in Texas in 2025, the company remains open to establishing a casino near Dallas if regulations change, capitalizing on emerging market opportunities to enhance its U.S. operations.
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See More
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- Singapore Growth Potential: Marina Bay Sands attracted over 36 million visitors last year, with Q1 adjusted EBITDA increasing by 30% year-on-year to $788 million, indicating its sustained appeal and profitability among high-net-worth clients.
- Texas Opportunity: Although Las Vegas Sands withdrew its plan to build a casino in Texas in 2025, the potential for legal changes keeps the company optimistic about establishing a unique casino near the Dallas Mavericks' new arena, should regulations evolve.
- Valuation Discrepancy: Despite Las Vegas Sands' clear advantages in the Asian market, its current valuation aligns closely with U.S. peers, potentially underestimating the intrinsic value of its premium assets, suggesting a future stock price increase as the market reassesses its profitability.
See More
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- HR Strategy Achievements: Sands China secured 14 awards at the 2026 Employee Experience Awards Hong Kong, including the Grand Winner and Triple Crown of Employee Excellence, making it the most awarded company this year, showcasing its outstanding performance in HR strategy and talent development.
- Significant Training Hours: By the end of 2025, Sands China provided over 22.6 million training hours for team members, emphasizing its commitment to enhancing professional capabilities and career development prospects, reflecting the company's long-term investment in talent cultivation.
- Continued Industry Recognition: Sands China received the prestigious Top Employer certification for the second consecutive year, becoming the first integrated resort operator in the Asia-Pacific region to achieve this, highlighting its adherence to international HR standards.
- Support for Macao's Development: Committed to the policy of 'Building Macao through Talent Training,' Sands China plays a crucial role as the largest private employer in Macao, contributing to the city's economic diversification and high-quality development, demonstrating its responsibility and commitment to the region.
See More
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- HR Strategy Achievements: Sands China has won 14 awards at the 2026 Employee Experience Awards Hong Kong, standing out as the company with the most accolades this year, showcasing its exceptional performance in the international HR landscape.
- Awards Overview: The accolades include the Grand Winner title, Triple Crown of Employee Excellence, four golds, seven silvers, and one bronze, covering various categories such as corporate culture, employee experience, and talent development, highlighting Sands China's leadership in talent attraction and retention.
- Training and Development Commitment: By the end of 2025, Sands China provided over 22.6 million training hours for its more than 28,000 team members, with over half having over ten years of service, reflecting strong employee trust and recognition of its corporate culture.
- Ongoing Innovation and Support: Sands China is committed to implementing innovative, people-oriented HR initiatives that support employee growth while aligning with the Macao SAR government's policy of 'Building Macao through Talent Training,' contributing to the region's economic diversification.
See More
Sands China Recognized in Dow Jones ESG Indices for Fifth and Sixth Year
- Unique Dual Listing: Sands China has been recognized for the fifth consecutive year in the Dow Jones Best-in-Class World Index and the sixth year in the Asia Pacific Index, making it the only integrated resort operator globally to achieve this dual listing, highlighting its exceptional performance and effectiveness in Environmental, Social, and Governance (ESG) practices.
- Training and Development Achievements: By the end of 2025, Sands China has provided over 22.6 million cumulative training hours to employees, with 1.8 million hours delivered in 2025 alone, fostering local talent development and enhancing employee capabilities, thereby increasing the company's competitive edge in the industry.
- Community Service Contributions: The Sands Cares Ambassador Programme, established in 2009, has contributed over 362,000 community service hours by the end of 2025, actively supporting the Macao SAR government's community economic policies and promoting sustainable development and revitalization of historical areas.
- Significant Environmental Impact: Sands China has successfully reduced its Scope 1 and Scope 2 greenhouse gas emissions by 61% compared to a 2018 baseline, while also renewing its ISO 14001 Environmental Management System certification, demonstrating its ongoing commitment to optimizing resource utilization and enhancing operational efficiency.
See More
Sands China Recognized in ESG Indices for Fifth and Sixth Year
- International Recognition: Sands China has been named to the Dow Jones Best-in-Class World Index for the fifth consecutive year and the Asia Pacific Index for the sixth consecutive year, making it the only integrated resort operator globally to achieve dual listing, highlighting its exceptional performance in Environmental, Social, and Governance (ESG) practices.
- Training Achievements: By the end of 2025, Sands China provided over 22.6 million cumulative training hours to local employees, with 1.8 million hours delivered in 2025 alone, demonstrating the company's ongoing commitment to employee development and local talent cultivation.
- Community Contributions: The Sands Cares Ambassador Programme, established in 2009, has contributed over 362,000 community service hours, indicating the company's active role in promoting community economy and revitalizing historical areas, thereby strengthening its collaboration with the Macao SAR government.
- Environmental Achievements: Sands China has successfully reduced its Scope 1 and Scope 2 greenhouse gas emissions by 61% compared to a 2018 baseline year and has renewed its ISO 14001 Environmental Management System certification, reflecting the company's strong commitment to sustainable development and resource optimization.
See More
Las Vegas Sands Focuses on Asian Markets for Growth
- Clear Market Positioning: Las Vegas Sands is focusing on expanding its operations in Macao and Singapore, leveraging limited competition and rising wealth in these regions, which is expected to drive strong future growth, especially against the backdrop of fierce competition in the U.S. market.
- Strong Performance in Singapore: Marina Bay Sands in Singapore reported a 30% year-on-year increase in adjusted EBITDA to $788 million in Q1, reflecting the strong demand from high-net-worth clients for luxury experiences, further solidifying Sands' leadership position in the Asian market.
- Potential in Texas: Although Las Vegas Sands withdrew its casino plan in Texas in 2025, the company remains open to establishing a casino near Dallas if regulations change, capitalizing on emerging market opportunities to enhance its U.S. operations.
- Macao Market Share: With a 75% stake in Sands China Ltd., Las Vegas Sands holds about 25% of the market share in Macao, and despite facing government crackdowns on high-end clients, the company is working to attract premium mass-market customers to reduce earnings volatility.
See More
Las Vegas Sands Expands in Asian Markets
- Market Leadership: Las Vegas Sands holds approximately 75% stake in Sands China, commanding about 25% of the market share in Macao, making it the largest operator among the six casino groups, showcasing its strong competitive position in the Asian market.
- Singapore Growth Potential: Marina Bay Sands attracted over 36 million visitors last year, with Q1 adjusted EBITDA increasing by 30% year-on-year to $788 million, indicating its sustained appeal and profitability among high-net-worth clients.
- Texas Opportunity: Although Las Vegas Sands withdrew its plan to build a casino in Texas in 2025, the potential for legal changes keeps the company optimistic about establishing a unique casino near the Dallas Mavericks' new arena, should regulations evolve.
- Valuation Discrepancy: Despite Las Vegas Sands' clear advantages in the Asian market, its current valuation aligns closely with U.S. peers, potentially underestimating the intrinsic value of its premium assets, suggesting a future stock price increase as the market reassesses its profitability.
See More
