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Cramer: LVS doesn't know what it's talking about

Jim Cramer believes that the world is getting better, thanks to a rebound in China.

Apparently Las Vegas Sands did not get the memo, when it told a tale of woe in its conference call about Macau.

"What this market really needs right now is for Steve Wynn, CEO of Wynn Resorts, who also has a ton of Macau exposure, to say that Las Vegas Sands doesn't know what it is talking about," CNBC's "Mad Money" host said.

When Las Vegas Sands COO Robert Goldstein was asked about Macau in the conference call, the large Chinese gambling center, he responded by stating that he thinks Chinese tourism and consumer numbers are depressing across the globe and were softer than he had hoped in Macau.





A dealer handles gaming chips at a baccarat table inside the Venetian Macau resort and casino, operated by Sands China Ltd., a unit of Las Vegas Sands Corp., in Macau, China.
Billy H.C. Kwok | Bloomberg | Getty Images
A dealer handles gaming chips at a baccarat table inside the Venetian Macau resort and casino, operated by Sands China Ltd., a unit of Las Vegas Sands Corp., in Macau, China.
"If we lose China, as Las Vegas Sands seems to be suggesting, then a lot of Dow points are going to get repealed here." -Jim Cramer

Normally Cramer would be very worried about a statement like this. However, he has already seen signs of better Chinese consumer spending, improved imports of raw goods and better exports to Europe.

"If we lose China, as Las Vegas Sands seems to be suggesting, then a lot of Dow points are going to get repealed here," Cramer said.

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With so much hope coming out of China right now, the idea that Macau could be getting worse is simply poison, and Cramer thinks Steve Wynn is the only one who can shut down this story.

In fact, Wynn recently purchased more than $100 million of shares in Wynn Resorts on the open market, which confirmed Cramer's bullish thesis.

Or maybe Chinese gamblers just went everywhere else to gamble, and didn't like Las Vegas Sands?

If there really is a problem in Macau, Cramer only hopes it is because the Chinese government is cracking down on gambling and consumers are spending money elsewhere.

Otherwise, Cramer fears that many investors may associate the decline in oil and sell-off in minerals and mining stocks on Thursday with the woeful tale of Macau told by Las Vegas Sands.

"I am not saying that is necessarily the case here, but it is certainly something you need to be aware of," Cramer said.

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