Net Revenue $3.15 billion Net Income $373 million Diluted Earnings per Share $0.53 per Share Consolidated Adjusted Property EBITDA $1.12 billion LVS Repurchased $787 million of Common Stock during the quarter LVS Board of Directors Increased Stock Repurchase Authorization to $6.0 billion , /PRNewswire/ -- Las Vegas Sands (NYSE: LVS), the leading global developer and operator of Integrated Resorts, today reported financial results for the quarter ended June 30, 2026.
"We continued to execute our strategic objectives during the quarter in both Singapore and Macao while continuing to increase the return of capital to shareholders," said Patrick Dumont, chairman and chief executive officer.
"In Macao, our ongoing investments in enhanced service and hospitality offerings contributed to growth in volumes across all gaming segments as compared to the prior year, although unusually low hold in rolling play negatively impacted our reported financial results for the quarter.
"At Marina Bay Sands in Singapore, we continued to deliver industry-leading financial performance.
"Looking ahead, we remain confident that our people, our products and our focus on delivering outstanding service, hospitality and entertainment experiences to our customers will drive growth for the company and deliver strong returns to our shareholders in the years ahead."
Net revenue was $3.15 billion, compared to $3.18 billion in the prior year quarter. Operating income was $618 million, compared to $783 million in the prior year quarter. Net income in the second quarter of 2026 was $373 million, compared to $519 million in the second quarter of 2025.
Consolidated adjusted property EBITDA was $1.12 billion, compared to $1.33 billion in the prior year quarter.
Sands China Ltd. Consolidated Financial Results
On a GAAP basis, total net revenues for SCL decreased 0.8% to $1.78 billion, compared to the second quarter of 2025. Net income for SCL decreased 50.0% to $107 million, compared to $214 million in the second quarter of 2025.
Other Factors Affecting Earnings
Interest expense, net of amounts capitalized, was $189 million for the second quarter of 2026, compared to $194 million in the prior year quarter. Our weighted average debt balance was $16.06 billion during the second quarter of 2026, compared to $15.85 billion during the second quarter of 2025. Our weighted average borrowing cost was 4.6% during the second quarter of 2026, compared to 4.8% during the second quarter of 2025.
Our effective income tax rate for the second quarter of 2026 was 19.1%, compared to 14.8% in the prior year quarter. The income tax rate for the second quarter of 2026 was primarily driven by a 17% statutory rate on our Singapore operations.
Stockholder Returns
During the second quarter of 2026, we repurchased $787 million of our common stock (approximately 15 million shares at a weighted average price of $52.37). The remaining amount authorized under our share repurchase program was $29 million as of June 30, 2026. Subsequently, on July 21, 2026, the company's Board of Directors authorized increasing the remaining share repurchase amount to $6.0 billion and extending the expiration date of the authorization to July 21, 2029. Since the resumption of our share repurchase program in the fourth quarter of 2023 through June 30, 2026, we have repurchased 16.3% of our outstanding shares, approximately 124 million shares of our common stock at an average price of $48.49, for a total investment of $6.03 billion. The timing and actual number of shares to be repurchased in the future will depend on a variety of factors, including the company's financial position, earnings, legal requirements, other investment opportunities and market conditions.
We paid a quarterly dividend of $0.30 per common share during the quarter. Our next quarterly dividend of $0.30 per common share will be paid on August 12, 2026, to Las Vegas Sands stockholders of record on August 4, 2026.
Balance Sheet Items
Unrestricted cash balances as of June 30, 2026 were $3.38 billion.
In May 2026, the company received $1.26 billion of proceeds from the repayment in full of the seller financing loan related to the sale of the Las Vegas real property and operations.
The company has access to $4.26 billion available for borrowing under our U.S., SCL and Singapore revolving credit facilities, net of outstanding letters of credit, and $4.68 billion available under a delayed draw term loan facility that may be used to finance development and construction costs, expenses, fees and other payments related to the MBS Expansion Project. As of June 30, 2026, total debt outstanding, net of deferred offering costs and original issue discounts, excluding finance leases, was $15.11 billion.
Capital Expenditures
Capital expenditures during the second quarter totaled $332 million, including construction, development and maintenance activities of $215 million at Marina Bay Sands, $86 million in Macao and $31 million in corporate and other.
Conference Call Information
The company will host a conference call to discuss the company's results on Wednesday, July 22, 2026, at 1:30 p.m. Pacific Time. Interested parties may listen to the conference call through a webcast available on the company's website at www.sands.com.
About Sands (NYSE: LVS)
Sands is the leading global developer and operator of integrated resorts. The company's iconic properties drive valuable leisure and business tourism and deliver significant economic benefits, sustained job creation, financial opportunities for local businesses and community investment to help make its host regions ideal places to live, work and visit.
Sands' portfolio of properties includes Marina Bay Sands® in Singapore and The Venetian® Macao, The Londoner Macao®, The Parisian® Macao, The Plaza® Macao and Four Seasons® Hotel Macao, and Sands® Macao in Macao SAR, China, through majority ownership in Sands China Ltd.
Dedicated to being a leader in corporate responsibility, Sands is anchored by the core tenets of serving people, communities and the planet. The company's ESG leadership has led to inclusion on the Dow Jones Best-in-Class Indices for World and North America, as well as Fortune's list of the World's Most Admired Companies. To learn more, visit www.sands.com.
Forward-Looking Statements
This press release contains forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the discussions of our business strategies and expectations concerning future operations, margins, profitability, liquidity and capital resources. In addition, in certain portions included in this press release, the words "anticipates," "believes," "can," "continues," "estimates," "expects," "goals," "intends," "looks forward to," "may," "opportunities," "plans," "positions," "remains," "seeks," "should," "targets," "will," "would" and similar expressions, as they relate to our company or management, are intended to identify forward-looking statements. Although we believe these forward-looking statements are reasonable, we cannot assure you any forward-looking statements will prove to be correct. These statements represent our expectations, beliefs, intentions or strategies concerning future events that, by their nature, involve a number of risks, uncertainties or other factors beyond our control, which may cause our actual results, performance, achievements or other expectations to be materially different from any future results, performance, achievements or other expectations expressed or implied by these forward-looking statements. These factors include, but are not limited to, the risks associated with: our gaming license in Singapore and concession in Macao and amendments to Macao's gaming laws; general economic conditions; disruptions or reductions in travel and our operations due to natural or man-made disasters, pandemics, epidemics or outbreaks of infectious or contagious diseases; our ability to invest in future growth opportunities, or attempt to expand our business in new markets and new ventures, execute our capital expenditure programs at our existing properties and produce future returns; government regulation; the extent to which the laws and regulations of mainland China become applicable to our operations in Macao and Hong Kong; the possibility that economic, political and legal developments in Macao adversely affect our Macao operations, or that there is a change in the manner in which regulatory oversight is conducted in Macao; our subsidiaries' ability to make distribution payments to us; substantial leverage and debt service; fluctuations in currency exchange rates and interest rates; our ability to collect gaming receivables; win rates for our gaming operations; risk of fraud and cheating; competition; tax law changes; political instability, civil unrest, terrorist acts or war; legalization of gaming; insurance; limitations on the transfers of cash to and from our subsidiaries; limitations of the pataca exchange markets; restrictions on the export of the renminbi; and other risks and uncertainties detailed in Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q filed by Las Vegas Sands Corp. with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statement is made. Las Vegas Sands Corp. assumes no obligation to update any forward-looking statements and information.
Las Vegas Sands Corp.
Second Quarter 2026 Results
Non-GAAP Financial Measures
Within the company's second quarter 2026 press release, the company makes reference to certain non-GAAP financial measures that supplement the company's consolidated financial information prepared in accordance with GAAP including "adjusted net income (loss)," "adjusted earnings (loss) per diluted share" and "consolidated adjusted property EBITDA," which have directly comparable GAAP financial measures. The company believes these measures represent important internal measures of financial performance. Set forth in the financial schedules accompanying this press release and presentations included on the company's website are reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures. The non-GAAP financial measure disclosure by the company has limitations and should not be considered a substitute for, or superior to, the financial measures prepared in accordance with GAAP. The definitions of our non-GAAP financial measures and the specific reasons why the company's management believes the presentation of the non-GAAP financial measures provides useful information to investors regarding the company's financial condition, results of operations and cash flows are presented below.
The following non-GAAP financial measures are used by management, as well as industry analysts, to evaluate the company's operations and operating performance. These non-GAAP financial measures are presented so investors have the same financial data management uses in evaluating financial performance with the belief it will assist the investment community in properly assessing the underlying financial performance of the company on a year-over-year and a quarter sequential basis.
Adjusted net income (loss), which is a non-GAAP financial measure, is net income (loss) attributable to Las Vegas Sands excluding pre-opening expense, development expense, gain or loss on disposal or impairment of assets, gain or loss on modification or early retirement of debt, other income or expense and certain nonrecurring corporate expenses, net of income tax. Adjusted net income (loss) and adjusted earnings (loss) per diluted share are presented as supplemental disclosures as management believes they are (1) each widely used measures of performance by industry analysts and investors and (2) a principal basis for valuation of Integrated Resort companies, as these non-GAAP financial measures are considered by many as alternative measures on which to base expectations for future results. These measures also form the basis of certain internal management performance expectations.
Consolidated adjusted property EBITDA, which is a non-GAAP financial measure, is net income (loss) before stock-based compensation expense, corporate expense, pre-opening expense, development expense, depreciation and amortization, amortization of leasehold interests in land, gain or loss on disposal or impairment of assets, interest, other income or expense, gain or loss on modification or early retirement of debt and income taxes. Management utilizes consolidated adjusted property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation. Integrated Resort companies, including Las Vegas Sands, have historically reported adjusted property EBITDA as a supplemental performance measure to GAAP financial measures. In order to view the operations of their properties on a more stand-alone basis, Integrated Resort companies, including Las Vegas Sands, have historically excluded certain expenses that do not relate to the management of specific properties, such as pre-opening expense, development expense and corporate expense, from their adjusted property EBITDA calculations. Consolidated adjusted property EBITDA should not be interpreted as an alternative to income (loss) from operations (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with GAAP. The company has significant uses of cash flow, including capital expenditures, dividend payments, interest payments, debt principal repayments, share repurchases and income tax payments, which are not reflected in consolidated adjusted property EBITDA. Not all companies calculate adjusted property EBITDA in the same manner. As a result, consolidated adjusted property EBITDA as presented by Las Vegas Sands may not be directly comparable to similarly titled measures presented by other companies.
Exhibit 1
Las Vegas Sands Corp. and Subsidiaries
Condensed Consolidated Statements of Operations
(In millions, except per share data)
(Unaudited)
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Revenues:
Casino
$ 2,341
$ 2,415
$ 5,080
$ 4,542
Rooms
359
345
736
669
Food and beverage
168
147
344
288
Mall
198
187
402
373
Convention, retail and other
88
81
177
165
Net revenues
3,154
3,175
6,739
6,037
Operating expenses:
Resort operations
2,041
1,846
4,208
3,569
Corporate
74
69
157
142
Pre-opening
5
9
9
13
Development
43
69
84
138
Depreciation and amortization
350
371
707
733
Amortization of leasehold interests in land
21
20
42
35
Loss on disposal or impairment of assets
2
8
10
15
2,536
2,392
5,217
4,645
Operating income
618
783
1,522
1,392
Other income (expense):
Interest income
31
42
66
84
Interest expense, net of amounts capitalized
(189)
(194)
(377)
(368)
Other income (expense)
1
(22)
(2)
(23)
Loss on modification or early retirement of debt
—
—
—
(5)
Income before income taxes
461
609
1,209
1,080
Income tax expense
(88)
(90)
(195)
(153)
Net income
373
519
1,014
927
Net income attributable to noncontrolling interests
(27)
(58)
(101)
(114)
Net income attributable to Las Vegas Sands Corp.
$ 346
$ 461
$ 913
$ 813
Earnings per share:
Basic
$ 0.53
$ 0.66
$ 1.38
$ 1.15
Diluted
$ 0.53
$ 0.66
$ 1.38
$ 1.15
Weighted average shares outstanding:
Basic
654
695
661
704
Diluted
656
696
663
704
Exhibit 2
Las Vegas Sands Corp. and Subsidiaries
Net Revenues and Adjusted Property EBITDA
(In millions)
(Unaudited)
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Net Revenues
The Venetian Macao
$ 591
$ 663
$ 1,301
$ 1,301
The Londoner Macao
710
642
1,464
1,171
The Parisian Macao
218
194
447
421
The Plaza Macao and Four Seasons Macao
137
194
427
402
Sands Macao
95
71
188
146
Ferry Operations and Other
39
33
77
65
Macao Operations
1,790
1,797
3,904
3,506
Marina Bay Sands
1,380
1,388
2,867
2,551
Intercompany Royalties
83
67
170
128
Intersegment Eliminations(1)
(99)
(77)
(202)
(148)
$ 3,154
$ 3,175
$ 6,739
$ 6,037
Adjusted Property EBITDA
The Venetian Macao
$ 165
$ 236
$ 403
$ 461
The Londoner Macao
192
205
415
358
The Parisian Macao
38
44
84
110
The Plaza Macao and Four Seasons Macao
20
66
134
140
Sands Macao
11
9
20
19
Ferry Operations and Other
4
6
7
13
Macao Operations
430
566
1,063
1,101
Marina Bay Sands
689
768
1,477
1,373
$ 1,119
$ 1,334
$ 2,540
$ 2,474
Adjusted Property EBITDA as a Percentage of Net Revenues
The Venetian Macao
27.9 %
35.6 %
31.0 %
35.4 %
The Londoner Macao
27.0 %
31.9 %
28.3 %
30.6 %
The Parisian Macao
17.4 %
22.7 %
18.8 %
26.1 %
The Plaza Macao and Four Seasons Macao
14.6 %
34.0 %
31.4 %
34.8 %
Sands Macao
11.6 %
12.7 %
10.6 %
13.0 %
Ferry Operations and Other
10.3 %
18.2 %
9.1 %
20.0 %
Macao Operations
24.0 %
31.5 %
27.2 %
31.4 %
Marina Bay Sands
49.9 %
55.3 %
51.5 %
53.8 %
Total
35.5 %
42.0 %
37.7 %
41.0 %
____________________
(1)
Intersegment eliminations include royalties and other intercompany services.
Exhibit 3
Las Vegas Sands Corp. and Subsidiaries
Non-GAAP Financial Measure Reconciliation
(In millions)
(Unaudited)
The following is a reconciliation of Net Income to Consolidated Adjusted Property EBITDA:
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Net income
$ 373
$ 519
$ 1,014
$ 927
Add (deduct):
Income tax expense
88
90
195
153
Loss on modification or early retirement of debt
—
—
—
5
Other (income) expense
(1)
22
2
23
Interest expense, net of amounts capitalized
189
194
377
368
Interest income
(31)
(42)
(66)
(84)
Loss on disposal or impairment of assets
2
8
10
15
Amortization of leasehold interests in land
21
20
42
35
Depreciation and amortization
350
371
707
733
Development expense
43
69
84
138
Pre-opening expense
5
9
9
13
Stock-based compensation(1)
6
5
9
6
Corporate expense
74
69
157
142
Consolidated Adjusted Property EBITDA
$ 1,119
$ 1,334
$ 2,540
$ 2,474
____________________
(1)
During the three months ended June 30, 2026 and 2025, the company recorded stock-based compensation expense of $15 million and $17 million, respectively, of which $9 million and $12 million, respectively, was included in corporate expense in the accompanying condensed consolidated statements of operations.
During the six months ended June 30, 2026 and 2025, the company recorded stock-based compensation expense of $39 million and $26 million, respectively, of which $30 million and $20 million, respectively, was included in corporate expense in the accompanying condensed consolidated statements of operations.
Exhibit 4
Las Vegas Sands Corp. and Subsidiaries
Non-GAAP Financial Measure Reconciliation
(In millions, except per share data)
(Unaudited)
The following is a reconciliation of Net Income Attributable to LVS to Adjusted Net Income:
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Net income attributable to LVS
$ 346
$ 461
$ 913
$ 813
Pre-opening expense
5
9
9
13
Development expense
43
69
84
138
Loss on disposal or impairment of assets
2
8
10
15
Other (income) expense
(1)
22
2
23
Loss on modification or early retirement of debt
—
—
—
5
Income tax impact on net income adjustments(1)
(11)
(14)
(20)
(28)
Noncontrolling interest impact on net income adjustments
—
(8)
(2)
(11)
Adjusted net income attributable to LVS
$ 384
$ 547
$ 996
$ 968
The following is a reconciliation of Net Income per Diluted Share to Adjusted Earnings per Diluted Share:
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Per diluted share of common stock:
Net income attributable to LVS
$ 0.53
$ 0.66
$ 1.38
$ 1.15
Pre-opening expense
0.01
0.01
0.01
0.02
Development expense
0.07
0.10
0.13
0.20
Loss on disposal or impairment of assets
—
0.01
0.01
0.02
Other (income) expense
—
0.03
—
0.03
Loss on modification or early retirement of debt
—
—
—
0.01
Income tax impact on net income adjustments
(0.02)
(0.01)
(0.03)
(0.03)
Noncontrolling interest impact on net income adjustments
—
(0.01)
—
(0.02)
Adjusted earnings per diluted share
$ 0.59
$ 0.79
$ 1.50
$ 1.38
Weighted average diluted shares outstanding
656
696
663
704
____________________
(1)
The income tax impact for each adjustment is derived by applying the effective tax rate, including current and deferred income tax expense, based upon the jurisdiction and the nature of the adjustment.
Exhibit 5
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(In millions)
(Unaudited)
The following reflects the impact on Net Revenues for hold-adjusted win percentage:
Three Months Ended
June 30,
2026
2025
Macao Operations
$ 147
$ (11)
Marina Bay Sands(1)
(49)
(102)
$ 98
$ (113)
The following reflects the impact on Adjusted Property EBITDA for hold-adjusted win percentage:
Three Months Ended
June 30,
2026
2025
Macao Operations
$ 87
$ (7)
Marina Bay Sands(1)
(37)
(80)
$ 50
$ (87)
____________________
Note:
These amounts represent the estimated impact of the hold adjustment that would have occurred had the company's Rolling Chip win percentage for the three months ended June 30, 2026 and 2025, equaled 3.3% for the Macao operations and 4.2% and 4.1%, respectively, for Marina Bay Sands. Included are the estimated commissions paid, discounts and other incentives rebated directly or indirectly to customers, gaming taxes and bad debt expense that would have been incurred or avoided.
(1)
Beginning with the three months ended September 30, 2025, we revised our expected hold-adjusted win percentage for Marina Bay Sands to be based on the theoretical hold percentage measured by technology-enabled gaming tables. Presentation of the prior year period has been revised to be consistent with that methodology.
Exhibit 6
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)
Three Months Ended
Six Months Ended
June 30,
June 30,
2026
2025
2026
2025
Casino Statistics:
The Venetian Macao:
Table games win per unit per day(1)
$ 8,819
$ 9,710
$ 9,688
$ 9,271
Slot machine win per unit per day(2)
$ 446
$ 305
$ 464
$ 336
Average number of table games
632
658
635
663
Average number of slot machines
1,396
1,651
1,426
1,667
The Londoner Macao:
Table games win per unit per day(1)
$ 14,008
$ 11,904
$ 14,970
$ 11,194
Slot machine win per unit per day(2)
$ 718
$ 591
$ 673
$ 506
Average number of table games
523
523
510
509
Average number of slot machines
1,380
1,566
1,418
1,562
The Parisian Macao:
Table games win per unit per day(1)
$ 7,819
$ 6,850
$ 8,403
$ 7,552
Slot machine win per unit per day(2)
$ 370
$ 273
$ 369
$ 278
Average number of table games
242
228
241
238
Average number of slot machines
1,291
1,412
1,285
1,352
The Plaza Macao and Four Seasons Macao:
Table games win per unit per day(1)
$ 14,081
$ 19,300
$ 21,781
$ 20,460
Slot machine win per unit per day(2)
$ —
$ 92
$ —
$ 99
Average number of table games
116
105
114
105
Average number of slot machines(3)
—
53
2
51
Sands Macao:
Table games win per unit per day(1)
$ 6,665
$ 5,435
$ 6,191
$ 5,774
Slot machine win per unit per day(2)
$ 276
$ 256
$ 272
$ 246
Average number of table games
121
116
133
114
Average number of slot machines
1,278
761
1,233
779
Marina Bay Sands:
Table games win per unit per day(1)
$ 20,156
$ 21,003
$ 22,491
$ 18,928
Slot machine win per unit per day(2)
$ 1,086
$ 1,052
$ 1,050
$ 992
Average number of table games
564
539
566
541
Average number of slot machines
2,945
2,959
2,964
2,979
____________________
(1)
Table games win per unit per day is shown before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis.
(2)
Slot machine win per unit per day is shown before deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis.
(3)
Slot machines were relocated to other properties during the three months ended March 31, 2026.
Exhibit 7
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)
Three Months Ended
The Venetian Macao
June 30,
(Dollars in millions)
2026
2025
Change
Revenues:
Casino
$ 457
$ 524
$ (67)
Rooms
43
50
(7)
Food and beverage
15
15
—
Mall
62
62
—
Convention, retail and other
14
12
2
Net revenues
$ 591
$ 663
$ (72)
Adjusted Property EBITDA
$ 165
$ 236
$ (71)
EBITDA Margin %
27.9 %
35.6 %
(7.7) pts
Gaming Statistics
(Dollars in millions)
Rolling Chip volume
$ 1,028
$ 859
$ 169
Rolling Chip win %(1)
0.62 %
3.57 %
(2.95) pts
Non-Rolling Chip drop
$ 2,452
$ 2,348
$ 104
Non-Rolling Chip win %
20.4 %
23.5 %
(3.1) pts
Slot handle
$ 1,399
$ 1,372
$ 27
Slot hold %
4.1 %
3.3 %
0.8 pts
Hotel Statistics
Occupancy %
98.2 %
98.6 %
(0.4) pts
Average daily room rate (ADR)
$ 197
$ 195
$ 2
Revenue per available room (RevPAR)
$ 194
$ 192
$ 2
____________________
(1)
This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)
Three Months Ended
The Londoner Macao
June 30,
(Dollars in millions)
2026
2025
Change
Revenues:
Casino
$ 548
$ 495
$ 53
Rooms
100
95
5
Food and beverage
31
27
4
Mall
23
21
2
Convention, retail and other
8
4
4
Net revenues
$ 710
$ 642
$ 68
Adjusted Property EBITDA
$ 192
$ 205
$ (13)
EBITDA Margin %
27.0 %
31.9 %
(4.9) pts
Gaming Statistics
(Dollars in millions)
Rolling Chip volume
$ 3,523
$ 2,090
$ 1,433
Rolling Chip win %(1)
3.67 %
4.09 %
(0.42) pts
Non-Rolling Chip drop
$ 2,584
$ 2,196
$ 388
Non-Rolling Chip win %
20.8 %
21.9 %
(1.1) pts
Slot handle
$ 2,227
$ 2,114
$ 113
Slot hold %
4.0 %
4.0 %
— pts
Hotel Statistics
Occupancy %
96.7 %
93.3 %
3.4 pts
Average daily room rate (ADR)
$ 262
$ 259
$ 3
Revenue per available room (RevPAR)
$ 254
$ 242
$ 12
____________________
(1)
This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)
Three Months Ended
The Parisian Macao
June 30,
(Dollars in millions)
2026
2025
Change
Revenues:
Casino
$ 165
$ 143
$ 22
Rooms
32
34
(2)
Food and beverage
14
11
3
Mall
5
5
—
Convention, retail and other
2
1
1
Net revenues
$ 218
$ 194
$ 24
Adjusted Property EBITDA
$ 38
$ 44
$ (6)
EBITDA Margin %
17.4 %
22.7 %
(5.3) pts
Gaming Statistics
(Dollars in millions)
Rolling Chip volume
$ 169
$ —
$ 169
Rolling Chip win %(1)
(2.26) %
— %
— pts
Non-Rolling Chip drop
$ 816
$ 663
$ 153
Non-Rolling Chip win %
21.6 %
21.4 %
0.2 pts
Slot handle
$ 1,302
$ 872
$ 430
Slot hold %
3.3 %
4.0 %
(0.7) pts
Hotel Statistics
Occupancy %
97.4 %
99.2 %
(1.8) pts
Average daily room rate (ADR)
$ 141
$ 147
$ (6)
Revenue per available room (RevPAR)
$ 138
$ 146
$ (8)
____________________
(1)
This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)
Three Months Ended
The Plaza Macao and Four Seasons Macao
June 30,
(Dollars in millions)
2026
2025
Change
Revenues:
Casino
$ 59
$ 122
$ (63)
Rooms
28
28
—
Food and beverage
8
7
1
Mall
41
37
4
Convention, retail and other
1
—
1
Net revenues
$ 137
$ 194
$ (57)
Adjusted Property EBITDA
$ 20
$ 66
$ (46)
EBITDA Margin %
14.6 %
34.0 %
(19.4) pts
Gaming Statistics
(Dollars in millions)
Rolling Chip volume
$ 2,824
$ 1,399
$ 1,425
Rolling Chip win %(1)
(1.15) %
2.72 %
(3.87) pts
Non-Rolling Chip drop
$ 839
$ 655
$ 184
Non-Rolling Chip win %
21.6 %
22.3 %
(0.7) pts
Slot handle
$ —
$ 19
$ (19)
Slot hold %
— %
2.3 %
— pts
Hotel Statistics
Occupancy %
95.1 %
92.1 %
3.0 pts
Average daily room rate (ADR)
$ 507
$ 502
$ 5
Revenue per available room (RevPAR)
$ 482
$ 462
$ 20
____________________
(1)
This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)
Three Months Ended
Sands Macao
June 30,
(Dollars in millions)
2026
2025
Change
Revenues:
Casino
$ 88
$ 63
$ 25
Rooms
5
4
1
Food and beverage
2
3
(1)
Convention, retail and other
—
1
(1)
Net revenues
$ 95
$ 71
$ 24
Adjusted Property EBITDA
$ 11
$ 9
$ 2
EBITDA Margin %
11.6 %
12.7 %
(1.1) pts
Gaming Statistics
(Dollars in millions)
Rolling Chip volume
$ 26
$ 23
$ 3
Rolling Chip win %(1)
11.78 %
5.60 %
6.18 pts
Non-Rolling Chip drop
$ 497
$ 389
$ 108
Non-Rolling Chip win %
14.2 %
14.4 %
(0.2) pts
Slot handle
$ 1,526
$ 589
$ 937
Slot hold %
2.1 %
3.0 %
(0.9) pts
Hotel Statistics
Occupancy %
99.4 %
99.4 %
— pts
Average daily room rate (ADR)
$ 162
$ 176
$ (14)
Revenue per available room (RevPAR)
$ 161
$ 175
$ (14)
____________________
(1)
This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)
Three Months Ended
Marina Bay Sands
June 30,
(Dollars in millions)
2026
2025
Change
Revenues:
Casino
$ 1,024
$ 1,068
$ (44)
Rooms
151
134
17
Food and beverage
98
84
14
Mall
67
62
5
Convention, retail and other
40
40
—
Net revenues
$ 1,380
$ 1,388
$ (8)
Adjusted Property EBITDA
$ 689
$ 768
$ (79)
EBITDA Margin %
49.9 %
55.3 %
(5.4) pts
Gaming Statistics
(Dollars in millions)
Rolling Chip volume
$ 9,269
$ 8,945
$ 324
Rolling Chip win %(1)
4.74 %
5.26 %
(0.52) pts
Non-Rolling Chip drop
$ 2,597
$ 2,360
$ 237
Non-Rolling Chip win %
22.9 %
23.7 %
(0.8) pts
Slot handle
$ 6,382
$ 6,192
$ 190
Slot hold %
4.6 %
4.6 %
— pts
Hotel Statistics
Occupancy %
95.6 %
95.0 %
0.6 pts
Average daily room rate (ADR)
$ 982
$ 888
$ 94
Revenue per available room (RevPAR)
$ 939
$ 844
$ 95
____________________
(1)
This compares to our theoretical Rolling Chip win percentage of 4.2% and 4.1% for the three months ended June 30, 2026 and 2025, respectively (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).
Beginning with the three months ended September 30, 2025, we revised our expected hold-adjusted win percentage for Marina Bay Sands to be based on the theoretical hold percentage measured by technology-enabled gaming tables.
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data - Asian Retail Mall Operations
(Unaudited)
For the Three Months Ended June 30, 2026
TTM
June 30,
2026
(Dollars in millions except per square foot data)
Gross
Revenue(1)
Operating
Profit
Operating
Profit
Margin
Gross
Leasable
Area (sq. ft.)
Occupancy
% at End
of Period
Tenant Sales
Per Sq. Ft.(2)
Shoppes at Venetian
$ 62
$ 55
88.7 %
829,874
89.3 %
$ 2,161
Shoppes at Four Seasons
Luxury Retail
29
27
93.1 %
161,025
100.0 %
5,670
Other Stores
12
11
91.7 %
94,292
78.7 %
2,115
41
38
92.7 %
255,317
92.1 %
4,650
Shoppes at Londoner
23
19
82.6 %
518,122
75.9 %
1,886
Shoppes at Parisian
5
3
60.0 %
253,784
66.4 %
428
Total Cotai Strip in Macao
131
115
87.8 %
1,857,097
82.8 %
2,331
The Shoppes at Marina Bay Sands
67
61
91.0 %
616,028
100.0 %
3,279
Total
$ 198
$ 176
88.9 %
2,473,125
87.1 %
$ 2,608
____________________
Note:
This table excludes the results of our retail outlets at Sands Macao.
(1)
Gross revenue figures are net of intersegment revenue eliminations.
(2)
Tenant sales per square foot reflect sales from tenants only after the tenant has been open for a period of 12 months.
Uniting Sands team members to assemble 5,000 food kits
Extending 'Sands Cares' spirit in the Macao community
Promoting healthy diet in alignment with the SAR government's 'Healthy Community' initiative
, /PRNewswire/ -- For the fifth year in a row, Sands China demonstrated the Sands Cares spirit of community service Wednesday by hosting the Sands Cares Global Food Kit Build, an annual volunteer initiative of parent company Las Vegas Sands Corp. Close to 450 participants gathered at The Venetian® Macao's Cotai Expo, including members of social service organizations, Sands China's Sands Cares Ambassador community volunteers and other team members, and management executives from Las Vegas Sands. Together, they assembled 5,000 food kits, which will be distributed to locals in need through Caritas Macau. These efforts underscore Sands China's dedication to fulfilling its corporate social responsibility and its long-standing commitment to supporting the Macao community.
For the fifth year in a row, Sands China holds an annual volunteer initiative - Sands Cares Global Food Kit Build of parent company Las Vegas Sands Corp. Wednesday. Close to 450 participants gather at The Venetian Macao’s Cotai Expo, including members of social service organizations, Sands China’s Sands Cares Ambassador community volunteers and other team members, and management executives from Las Vegas Sands. Together, they assemble 5,000 food kits, which will be distributed to locals in need through Caritas Macau. These efforts underscore Sands China’s dedication to fulfilling its corporate social responsibility and its long-standing commitment to supporting the Macao community.
Patrick Dumont, chairman of the board and chief executive officer of Las Vegas Sands Corp., and chairman of the board and non-executive director of Sands China Ltd. delivers a speech at the opening ceremony of Sands Cares Global Food Kit Build at The Venetian Macao’s Cotai Expo.
Guests of honour host the opening ceremony of Sands Cares Global Food Kit Build at The Venetian Macao’s Cotai Expo.
Patrick Dumont (centre), chairman of the board and chief executive officer of Las Vegas Sands Corp., and chairman of the board and non-executive director of Sands China Ltd., presents community service certificates to two elderly volunteers aged over 80 of Carita Macau, in recognition of their dedication to serving the community.
Patrick Dumont, chairman of the board and chief executive officer of Las Vegas Sands Corp., and chairman of the board and non-executive director of Sands China Ltd., shows his support in person by participating in this event in Macao, packing food kits for local underprivileged groups –– alongside team members from 34 different Sands China departments and community partners.
This year’s event sets new records in both the number of participants and the number of food kits assembled.
The warm and energetic atmosphere is a demonstration of the cohesive strength of Sands China team members in serving the community.
The 5,000 food kits assembled this year in Sands Cares Global Food Kit Build weigh 30 tons in total. Each kit contains 11 food items procured from local SMEs, including rice, cooking oil, egg noodles, and biscuits, as well as soup packs from Tung Sin Tong Charitable Society.
The food kits also contain healthy and nutritious recipe cards designed by Caritas Macau and Sands China’s food and beverage team, further enhanced with professional guidance from nutritionists of the Macao Health Bureau. Through this new element of the kit, Sands China aims to promote the importance of a nutritious and healthy diet to the public, in full alignment with the Macao SAR government’s “Healthy Community” initiative and the “Healthy Macao Blueprint.” Wednesday's Sands Cares Global Food Kit Build was organized by Sands China with full support from the Social Welfare Bureau and the Health Bureau of the Macao SAR government. This year's event set new records in both the number of participants and the number of food kits assembled.
Patrick Dumont, chairman of the board and chief executive officer of Las Vegas Sands Corp., and chairman of the board and non-executive director of Sands China Ltd., showed his support in person by participating in this event in Macao, packing food kits for local underprivileged groups –– alongside team members from 34 different Sands China departments and community partners. The warm and energetic atmosphere was a demonstration of the cohesive strength of Sands China team members in serving the community.
The 5,000 food kits assembled this year weigh 30 tons in total. Each kit contains 11 food items procured from local SMEs, including rice, cooking oil, egg noodles, and biscuits, as well as soup packs from Tung Sin Tong Charitable Society. The food kits also contain healthy and nutritious recipe cards designed by Caritas Macau and Sands China's food and beverage team, further enhanced with professional guidance from nutritionists of the Health Bureau. Through this new element of the kit, Sands China aims to promote the importance of a nutritious and healthy diet to the public, in full alignment with the Macao SAR government's "Healthy Community" initiative and the "Healthy Macao Blueprint."
Dumont said: "For more than two decades, we have proudly called Macao home, making sustained investments to support the city's diversified development, while helping build a stronger, more resilient community through our Sands Cares corporate citizenship programme. The Sands Cares Global Food Kit Build is a meaningful reflection of that long-standing commitment. As the initiative marks its fifth year in Macao, and its largest edition to date, our Group's management has returned to Macao to join Sands China team members and community partners in assembling 5,000 food kits, delivering support and care to Macao's community. Together with efforts across our other operating regions, this initiative will generate 51,000 food kits worldwide this year. This spirit of community service has brought us together as one family, enabling us to make an even greater impact for communities.
"I would like to express my sincere gratitude to the Macao SAR government for its continued guidance, as well as to our team members and community partners for their unwavering support over the years. It is through your trust and support that we have been able to extend the reach of Sands Cares across Macao. Looking ahead, we remain steadfast in supporting Macao's future. We will continue to work hand in hand with all sectors of society to help Macao build a happier, more vibrant and more diversified city."
Pun Chi Meng, secretary general of Caritas Macau, said: "We are grateful to Sands China for its ongoing support of Caritas Macau's charitable services over the years. This year marks the fifth year of the Sands Cares Global Food Kit distribution, and the number of food kits has increased to 5,000 in order to benefit more people in need. This caring initiative represents not only material support but also a heartfelt expression of the community's care for vulnerable groups. The long-term partnership between Sands China and Caritas highlights the value of collaboration between corporations and social welfare organizations in building a caring community. These food kits will directly benefit the elderly, rehabilitation service users, low-income families, and others, alleviating their daily burdens. Looking ahead, Caritas hopes to carry forward this spirit of compassion, working together with the society to advance more initiatives that benefit the community, enabling care and kindness to continue spreading throughout Macao."
The Sands Cares Global Food Kit Build initiative has prepared nearly 17,000 food kits for the Macao community to date. All food kits assembled this year will be delivered by Sands Cares Ambassadors from July to August to 34 Caritas Macau care homes and centres across multiple districts, including Fai Chi Kei, Praia do Manduco, Iao Hon, Ilha Verde, and Coloane. Caritas Macau will then distribute them to elderly residents and underprivileged groups in the community, ensuring that both food supplies and care reach those in need in Macao.
Wednesday's food kit build was officiated by: Tang Yuk Wa, deputy director of the Social Welfare Bureau; Wong Weng Man, acting head of the Centre for Disease Prevention and Control of the Health Bureau; Judy Chiang It Sin, service director of Caritas Macau; Angela Ou, chairman of the General Volunteers Association of Macao; Lai Seung Yuet, financial general of the Association of Volunteer Social Service Macao; Heidi Ho, principal secretary of the Young Men's Christian Association of Macau; Patrick Dumont, chairman of the board and chief executive officer of Las Vegas Sands Corp., and chairman of the board and non-executive director of Sands China Ltd.; Dr. Wilfred Wong, executive vice chairman of Sands China Ltd.; Grant Chum, chief executive officer and executive director of Sands China Ltd.; Hubert Wang, chief operating officer of Sands China Ltd., and other Sands China management executives.
Furthermore, Sands China presented community service certificates on-site to 70 volunteers from local social service organizations, ranging in age from 13 to 80, in recognition of their dedication to serving the community, while also encouraging broader public participation in volunteer activities to care for the underprivileged. The four participating organizations were Caritas Macau's Longevity Special Care Centre, the General Volunteers Association of Macao, Association of Volunteer Social Service Macao, and Young Men's Christian Association of Macau.
Sands China launched the Sands Cares Ambassador Programme in 2009, becoming the first integrated resort operator in Macao to establish a volunteer team. To date, over 4,000 team members have joined the programme as Sands Cares Ambassadors, contributing a cumulative total of over 362,000 service hours, fully demonstrating the company's long-standing commitment to fulfilling corporate social responsibility and giving back to the Macao community.
Launched in 2022 by Las Vegas Sands Corp., the Sands Cares Global Food Kit Build is held annually in Sands' operating regions worldwide, including Macao, Singapore and Las Vegas. The global volunteer initiative provides food support for people in need by assembling and distributing food kits to beneficiaries of local social service organizations. It is one of three global Sands Cares initiatives, alongside the Sands Cares Global Hygiene Kit Build with Clean the World and the Sands Cares Accelerator, a programme that helps advance non-profit organizations to make greater community impact.
Through these initiatives, the Sands Cares global corporate citizenship programme has been consistently guiding Sands' philanthropic efforts around the world, providing support for global communities in various aspects including hardship relief, disaster response and preparedness, education, preservation of cultural and natural heritage, and local business and non-profit partner development. Over the years, the Sands Cares programme has introduced numerous initiatives to give back to society and has actively collaborated with local charities and social service organizations to help build more blissful, harmonious, and inclusive communities.
###
About Sands China Ltd.
Sands China Ltd. (Sands China or the Company) is incorporated in the Cayman Islands with limited liability and is listed on The Stock Exchange of Hong Kong Limited (HKEx: 1928). Sands China is the largest operator of integrated resorts in Macao. The Company's integrated resorts on the Cotai Strip comprise The Venetian® Macao, The Plaza® Macao, The Parisian® Macao and The Londoner® Macao. The Company also owns and operates Sands® Macao on the Macao peninsula. The Company's portfolio features a diversified mix of leisure and business attractions and transportation operations, including large meeting and convention facilities; a wide range of restaurants; shopping malls; world-class entertainment at The Venetian Arena, The Londoner Arena, The Venetian Theatre, The Parisian Theatre, The Londoner Theatre and Sands Theatre; and a high-speed Cotai Water Jet ferry service between Hong Kong and Macao. The Company's Cotai Strip portfolio has the goal of contributing to Macao's transformation into a world centre of tourism and leisure. Sands China is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS).
For more information, please visit www.sandschina.com.
Sands Cares
A firm believer in the importance of corporate social responsibility, Sands China Ltd. engages with the local Macao community as a part of Sands Cares – the charitable giving programme of parent company Las Vegas Sands Corp. Sands Cares integrates the company's philanthropic work worldwide in four key areas: financial giving, community problem solving and collaboration, in-kind donations, and team member volunteerism.
Key areas of Sands Cares in Macao include the Sands Cares Ambassador programme for volunteering in the local community; charitable contributions to NGOs and community organisations; and sponsorship of community events.
For more information, please visit www.sands.com/sands-cares/
Winner of 14 awards, the highest this year, as an international recognition for HR strategy achievements
, /PRNewswire/ -- Sands China has been consistently investing resources for years to contribute to Macao's development, helping the city build into a hub for high-calibre international talent and upholding the policy of "Building Macao through Talent Training." Sands China recently scooped up 14 awards at the Employee Experience Awards Hong Kong 2026 by virtue of its comprehensive, effective, and innovative human resources strategy, standing out as the company with the most awards this year among many notable organizations from different sectors. This achievement fully demonstrates the strong international recognition of the company's outstanding performance in human resources strategy, talent development, and employee experience.
Sands China recently scooped up 14 awards at the Employee Experience Awards Hong Kong 2026 by virtue of its comprehensive, effective, and innovative human resources strategy, standing out as the company with the most awards this year among many notable organizations from different sectors. This achievement fully demonstrates the strong international recognition of the company’s outstanding performance in human resources strategy, talent development, and employee experience. The many accolades received this year include the Employee Experience Awards Grand Winner, the Triple Crown of Employee Excellence, four gold awards, seven silver awards, and one bronze award, covering a wide range of categories from corporate culture, employee experience and employee welfare to talent development and recruitment experience. These honours are a true testament to Sands China's leading role in attracting, developing, and retaining talent as well as its remarkable achievements in building an exceptional workplace that supports team member welfare and empowers long-term talent development.
Paulo Cheong, senior vice president of human resources of Sands China Ltd., said: "Talent is key to a company's development and a vital driving force for a city's long-term growth. Sands China has always embraced the policy of 'Building Macao through Talent Training' and is committed to creating a workplace that celebrates holistic development, diversity, inclusion, and excellence. We are deeply honoured to receive 14 awards, including the Grand Winner title, at the Employee Experience Awards Hong Kong this year. This recognition not only reflects the remarkable outcomes of our well-rounded human resources strategy, but also serves as an encouragement and motivation for us to continue progressing and fostering talent for Macao. Our heartfelt appreciation goes to the Macao SAR government and all sectors of society for their long-standing support, as well as to each and every team member who has been with us over the years. Sands China will continue to roll out effective and outstanding human resources initiatives to support team members' growth while also contributing to the high-quality development of Macao talent and the city's moderate economic diversification."
Established by Human Resources Online, a human resources platform in Asia, the "Employee Experience Awards" aims to recognize industry leaders and enterprises that are dedicated to creating quality employee experiences. Entries are judged by a panel of senior HR experts from diverse industries across four key pillars: leadership, learning, engagement, and talent acquisition. Hailed as the region's only peer-reviewed HR awards programme exclusively focused on employee experience, the Employee Experience Awards are held annually in Hong Kong SAR, Singapore, Malaysia, Thailand, and Indonesia, reflecting its extensive recognition and coverage in Asia in the field of human resources and employee experience.
With its outstanding human resources strategy and performance, Sands China's recognitions in the HR space include being awarded once again with the prestigious "Top Employer" certification by the Top Employer Institute, one of the world's most authoritative certifiers of human resources strategies, joining 2,500 other certified organizations worldwide. It is the second consecutive year the company has received this honour, following last year's milestone as the first integrated resort operator in the Asia-Pacific region and the first company in Macao's tourism and service industry to be certified, highlighting the company's strict adherence to international standards in human resources strategy.
As the largest private employer in Macao, Sands China has long regarded talent cultivation as a core pillar in promoting Macao's economic diversification and has always invested resources to fully support the SAR government's policy direction of "Building Macao through Talent Training." Over the years, Sands China has consistently implemented innovative, people-oriented human resources initiatives to foster a healthy, friendly, efficient and inclusive workplace. Through competitive remuneration and benefit policies, a comprehensive talent development system, and diverse training opportunities, the company aims to constantly enhance the professional capabilities and career development prospects of team members. As at the end of 2025, Sands China had provided over 22.6 million training hours for team members. The company currently has more than 28,000 team members, with over half working for 10 years or more—a testament to the strong trust and recognition of its corporate culture among team members.
About Sands China Ltd.
Sands China Ltd. (Sands China or the Company) is incorporated in the Cayman Islands with limited liability and is listed on The Stock Exchange of Hong Kong Limited (HKEx: 1928). Sands China is the largest operator of integrated resorts in Macao. The Company's integrated resorts on the Cotai Strip comprise The Venetian® Macao, The Plaza® Macao, The Parisian® Macao and The Londoner® Macao. The Company also owns and operates Sands® Macao on the Macao peninsula. The Company's portfolio features a diversified mix of leisure and business attractions and transportation operations, including large meeting and convention facilities; a wide range of restaurants; shopping malls; world-class entertainment at The Venetian Arena, The Londoner Arena, The Venetian Theatre, The Parisian Theatre, The Londoner Theatre and Sands Theatre; and a high-speed Cotai Water Jet ferry service between Hong Kong and Macao. The Company's Cotai Strip portfolio has the goal of contributing to Macao's transformation into a world centre of tourism and leisure. Sands China is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS).
For more information, please visit www.sandschina.com.
Media contacts:
Corporate Communications, Sands China Ltd.
Mabel Wu
Tel: +853 8118 2268
Email: [email protected]
Attracting over 15.7 million MICE visits since 2007
Elevating Macao's international competitiveness through long-term
non-gaming investment
, /PRNewswire/ -- Since the opening of Sands® Macao in 2004, Sands China Ltd. has remained committed to contributing to Macao's development into a World Centre of Tourism and Leisure. As a trailblazer of Macao's integrated resort model, Sands China has placed hospitality, retail, entertainment, and MICE (meetings, incentives, conferences and exhibitions) at the core of its non-gaming development strategy. For over two decades, the company has continuously invested in both infrastructure and software to broaden the scope and depth of the city's industries, in support of the Macao SAR government's economic diversification direction.
Sands China has long played a proactive role in promoting Macao’s MICE industry, leveraging its world-class integrated resorts to enhance the city’s capacity and competitiveness in hosting large-scale international MICE events. As of now, Sands China has hosted nearly 12,800 MICE events, attracting over 15.7 million MICE visits from around the world. These efforts continue to strengthen Macao’s position as one of the premier MICE tourism destinations in Greater China, Asia, and globally. (The 2018 Macao International Environmental Co-operation Forum and Exhibition)
Sands China has long played a proactive role in promoting Macao’s MICE industry, leveraging its world-class integrated resorts to enhance the city’s capacity and competitiveness in hosting large-scale international MICE events. As of now, Sands China has hosted nearly 12,800 MICE events, attracting over 15.7 million MICE visits from around the world. These efforts continue to strengthen Macao’s position as one of the premier MICE tourism destinations in Greater China, Asia, and globally. (The 13th Macao International Travel (Industry) Expo, 2025)
Sands China has long played a proactive role in promoting Macao’s MICE industry, leveraging its world-class integrated resorts to enhance the city’s capacity and competitiveness in hosting large-scale international MICE events. As of now, Sands China has hosted nearly 12,800 MICE events, attracting over 15.7 million MICE visits from around the world. These efforts continue to strengthen Macao’s position as one of the premier MICE tourism destinations in Greater China, Asia, and globally. (The 14th Macao International Travel (Industry) Expo, 2026)
Sands China has long played a proactive role in promoting Macao’s MICE industry, leveraging its world-class integrated resorts to enhance the city’s capacity and competitiveness in hosting large-scale international MICE events. As of now, Sands China has hosted nearly 12,800 MICE events, attracting over 15.7 million MICE visits from around the world. These efforts continue to strengthen Macao’s position as one of the premier MICE tourism destinations in Greater China, Asia, and globally. (The 14th Macao International Travel (Industry) Expo, 2026)
Sands China has long played a proactive role in promoting Macao’s MICE industry, leveraging its world-class integrated resorts to enhance the city’s capacity and competitiveness in hosting large-scale international MICE events. As of now, Sands China has hosted nearly 12,800 MICE events, attracting over 15.7 million MICE visits from around the world. These efforts continue to strengthen Macao’s position as one of the premier MICE tourism destinations in Greater China, Asia, and globally. (Global Gaming Expo Asia 2026) With the opening of The Venetian® Macao in 2007, Sands China took a forward-looking approach by establishing Cotai Expo, the largest MICE facility in Macao — laying a solid foundation for the city's international competitiveness in the MICE industry. Over the years, the company has been steadfast in advancing non-gaming development, driving Macao's MICE sector to evolve from an emerging industry into a high-growth pillar. Sands China successfully developed and enriched the integrated model that enables multiple experiences within a single stop. To date, the company's total MICE facilities span over 1.6 million square feet, continuing to scale the international and professional development of the sector.
Under strong policy support from both the central and Macao SAR governments, Macao's MICE industry has expanded significantly, becoming one of the key engines driving progress in the city's diversification. Sands China has long played a proactive role in promoting the industry's advancement. It has leveraged its world-class integrated resorts to enhance Macao's capacity and competitiveness in hosting large-scale international MICE events, successfully attracting a wide range of globally influential, high-value conferences and exhibitions to the city.
As of now, Sands China has hosted nearly 12,800 MICE events across a broad spectrum of global industries, attracting over 15.7 million MICE visits from around the world. These efforts continue to strengthen Macao's position as one of the premier MICE tourism destinations in Greater China, Asia, and globally.
Sands China firmly believes that MICE serves as a powerful economic multiplier, conducive to fostering the development of related industries. Its strong international connectivity also enables the city to attract a broad base of global business travellers and professionals, further expanding Macao's international source markets. Sands China has long tapped into the continued hosting of high-quality international MICE events as part the company's approach to elevate Macao's appeal to global tourists. In 2025 alone, Sands China recorded 380,000 room nights by international guests across its integrated resorts.
Grant Chum, chief executive officer and executive director of Sands China Ltd., said: "Over the years, Sands China has played a pivotal role in developing Macao's MICE industry, integrating MICE deeply within our integrated resort model. We have built large-scale, high-quality MICE infrastructure in Macao, continuously elevating the sector into a strategic drawcard and tourism product that connects Macao with global markets, strengthens the city's international competitiveness, and supports its broader economic diversification. Since 2007, Sands China has attracted over 15.7 million MICE visits. As the local MICE industry continues to flourish, Macao has increasingly established itself as one of the world's most influential business and tourism destinations, underscoring the sector's contribution to the city's diversified economic growth.
"Looking ahead, Sands China will continue to align closely with the Macao SAR government's 'Tourism+' policy. Through the continued strengthening of synergies across non-gaming sectors, our company endeavours to further elevate Macao's global competitiveness and appeal, while supporting the development of its diversified economy, and remains committed to consolidating the city's position as a World Centre of Tourism and Leisure."
Sands China holds unwavering confidence in Macao's long term development trajectory. As the company continues to strengthen its business performance, it maintains its commitment to long-term investment in the city. The company is proactively deepening high-quality, non-gaming "Tourism+" initiatives to support Macao's overall development strategy –– striving to further enrich Macao's appeal as a City of Events and contribute to its long-term, sustainable and diversified growth.
About Sands China Ltd.
Sands China Ltd. (Sands China or the Company) is incorporated in the Cayman Islands with limited liability and is listed on The Stock Exchange of Hong Kong Limited (HKEx: 1928). Sands China is the largest operator of integrated resorts in Macao. The Company's integrated resorts on the Cotai Strip comprise The Venetian® Macao, The Plaza® Macao, The Parisian® Macao and The Londoner® Macao. The Company also owns and operates Sands® Macao on the Macao peninsula. The Company's portfolio features a diversified mix of leisure and business attractions and transportation operations, including large meeting and convention facilities; a wide range of restaurants; shopping malls; world-class entertainment at The Venetian Arena, The Londoner Arena, The Venetian Theatre, The Parisian Theatre, The Londoner Theatre and Sands Theatre; and a high-speed Cotai Water Jet ferry service between Hong Kong and Macao. The Company's Cotai Strip portfolio has the goal of contributing to Macao's transformation into a world centre of tourism and leisure. Sands China is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS).
For more information, please visit www.sandschina.com.
Media contacts:
Corporate Communications, Sands China Ltd.
Mabel Wu
Tel: +853 8118 2268
Email: [email protected]
Sands logo The 2026 Sands Cares contribution is enabling The Center to provide paid work experience and transferable job skills to youth through its Espresso Yourself Cafe mobile coffee truck.
, /PRNewswire/ -- Las Vegas Sands (NYSE: LVS) today announced it has contributed $150,000 to The LGBTQ+ Center of Las Vegas (The Center) for a workforce training and employment program designed to support unhoused and housing-insecure youth through the organization's Espresso Yourself Café program.
Funding is enabling The Center to provide work experience and transferable job skills to 20 young adults ages 18-24 through development of the Espresso Yourself Café mobile coffee truck, which will provide them with pathways to sustainable employment, income stability and permanent housing.
The Center initially launched the Espresso Yourself Café as a permanent location in its main facility last year and has received strong participant engagement. The organization is extending the program to community locations through the mobile coffee truck while combining employment opportunities and job training for vulnerable youth.
"With Sands' continued and valued partnership, we are creating meaningful opportunities for vulnerable youth to build confidence, develop job skills and gain real-world work experience," said John Waldron, CEO of The Center. "This program reflects what The Center is all about – providing a safe and welcoming space where people can grow, thrive and reach their full potential."
Sands and The Center began working together through Sands Cares in 2021 when the company contributed to the expansion of the Arlene Cooper Community Health Center. Since then, Sands has continued Sands Cares investments that have enabled The Center to expand its health care resources, make improvements to its core facility and sustain its administrative office.
In addition, Sands hosted The Center in the Sands Cares Accelerator from 2023-2025, enabling the organization to expand and develop its marketing and communications capabilities through the exclusive three-year capacity-building program. Sands and The Center recently celebrated the nonprofit's Sands Cares Accelerator graduation and three-year accomplishments, which included increased media and social media visibility, recognition as a thought leader in community-based care and greater national awareness.
"We're entering a new phase in our work with The Center and embarking on an area that's very much aligned with our company's global focus on workforce development and providing economic empowerment through job skills and employment opportunities," Ron Reese, senior vice president of global communications and corporate affairs, said. "We've also been dedicated to the issue of youth homelessness in Las Vegas, so the opportunity to provide support for unhoused and housing-insecure youth was another strong connection with our priorities. We think this program will have great return for The Center and the youth who participate."
The Center has been a vital part of the Las Vegas Valley for 30 years and provides a safe, non-judgmental environment for life-enriching programs, wellness services, events, education and support for people who identify as LGBTQ+ and allies of the community. As the hub for an array of essential resources, The Center operates two clinics that deliver physical and mental health care, offers a variety of community service programs, and serves as a leading advocate for the LGBTQ+ community.
The Sands Cares partnership with The Center aligns with Sands' priorities on nonprofit partner advancement, workforce development, hardship relief and support for organizations serving diverse communities. To learn more about Sands Cares, visit sands.com/responsibility/communities/.
To learn more about The LGBTQ+ Center of Las Vegas, visit https://thecenterlv.org/.
About The LGBTQ+ Center of Las Vegas
For more than 30 years, The LGBTQ+ Center of Las Vegas has been providing a safe and welcoming place where everyone can receive the information, support, and services needed to thrive. With its headquarters located at 401 S. Maryland Parkway, The Center's threefold focus is to provide health services, advocacy, and community empowerment.
About Sands (NYSE: LVS)
Sands is the leading global developer and operator of integrated resorts. The company's iconic properties drive valuable leisure and business tourism and deliver significant economic benefits, sustained job creation, financial opportunities for local businesses and community investment to help make its host regions ideal places to live, work and visit.
Sands' portfolio of properties includes Marina Bay Sands® in Singapore and The Venetian® Macao, The Londoner Macao®, The Parisian® Macao, The Plaza® Macao and Four Seasons® Hotel Macao, and Sands® Macao in Macao SAR, China, through majority ownership in Sands China Ltd.
Dedicated to being a leader in corporate responsibility, Sands is anchored by the core tenets of serving people, communities and the planet. The company's ESG leadership has led to inclusion on the Dow Jones Best-in-Class Indices for World and North America, as well as Fortune's list of the World's Most Admired Companies. To learn more, visit www.sands.com.
Sands Gallery partners with academia to preserve and revitalise Macao's firecracker heritage
, /PRNewswire/ -- Sands China has long dedicated itself to supporting the development of Macao's cultural and artistic landscape and the revitalisation of historic districts, contributing to the city's diversified growth. Marking the centenary of the founding of Iec Long Firecracker Factory, Sands China proudly presents "A Century of Iec Long Firecracker Factory in Radiance – An Exhibition on the Resonant History and Aesthetic Memory of Macao Firecrackers" from now until Aug. 31 at Sands Gallery, The Grand Suites at Four Seasons Hotel Macao.
Distinguished guests officiate at the opening of “A Century of Iec Long Firecracker Factory in Radiance – An Exhibition on the Resonant History and Aesthetic Memory of Macao Firecrackers” at Sands Gallery Wednesday.
Bringing together more than 400 exhibits – including original manuscripts, firecracker-making tools, and packaging labels – the exhibition offers a richly layered narrative of the century-long history and cultural significance of Macao’s firecracker industry – once one of the city’s four major industries.
It represents the first exhibition to comprehensively trace, research, and present the development of Macao’s firecracker industry. Bringing together more than 400 exhibits – including original manuscripts, firecracker-making tools, and packaging labels – the exhibition offers a richly layered narrative of the century-long history and cultural significance of Macao's firecracker industry – once one of the city's four major industries. The exhibition also underscores Sands Gallery's role as an international cultural portal for Macao, using artistic interpretation to reanimate this industrial memory once exported worldwide, highlighting Macao's deep cultural roots and artistic spirit.
The exhibition is jointly presented in collaboration with the Library and Faculty of Humanities and Arts of the Macau University of Science and Technology (MUST), marking a cross-sector partnership between academia and industry. It was curated by Ung Vai Meng, distinguished professor at MUST, who has devoted three decades to the study of Macao's firecracker industry. Through systematic consolidation of academic research and rare archival materials, the exhibition is grounded in historical and scholarly foundations. Through innovative artistic transformation, the exhibition reinterprets the cultural memory of the firecracker industry – rooted in the spirit of "Made in Macao" – into participatory art experiences for the public. It also represents the first exhibition to comprehensively trace, research, and present the development of Macao's firecracker industry, further amplifying the revitalisation impact of Iec Long Firecracker Factory.
Structured in six thematic chapters, the exhibition interweaves collective memory and the evolving artistry of Macao's firecracker industry. Beginning with an immersive prologue experience, it extends through the industry's stories, the craftsmanship of artisans, historical archives, interactive experiences, and aesthetics of packaging design. It highlights both the industry's aesthetic value and practical realities involved in production, operations, transport, and export. The exhibition runs until Aug. 31, 2026, and is free to the public. It is organised by Sands China, curated by Professor Ung, and supported by the Cultural Affairs Bureau and the Macao Government Tourism Office, with academic contributions from the Macao Museum, the Archives of Macao, and MUST.
"Sands China has always been committed to fostering the development of Macao's diverse arts and culture," said Dr. Wilfred Wong, executive vice chairman of Sands China Ltd. "Since taking on the revitalisation of the Iec Long Firecracker Factory in 2023, we have actively invested resources to breathe new life into this important era of Macao's industrial history, reimagining it as a cultural symbol where heritage is renewed through innovation. In collaborating with MUST, the Macao Museum, and the Archives of Macao to provide historical exhibits and academic support, and by inviting Professor Ung Vai Meng as curator, we have harnessed the synergy of enterprise and academia to present the firecracker history in its fullest and most authentic form. By rejuvenating this integral chapter of Macao's past, Sands Gallery offers the public free access to discover the brilliance, creativity, and craftsmanship that underpinned the city's firecracker industry, inspiring younger generations and visitors to appreciate Macao's strongest competitive edge – its profound cultural heritage. We will continue to work closely with all sectors of society to support the integration of culture and tourism, promoting Macao's diverse arts and culture on an ever-expanding stage."
Professor Ung said: "Firecracker manufacturing was once one of Macao's most important traditional industries. For many older residents, it represents a shared collective memory of the last century. In the 1950s and 1960s, Macao-produced firecrackers accounted for an estimated 30% to over half of global output, holding a pivotal position in the international market. On the centenary of Iec Long Firecracker Factory, I am delighted to collaborate with Sands China to present this exhibition, enabling today's residents and visitors to gain deeper insight into this history and to appreciate the artistry of firecracker packaging labels. I hope the exhibition will transport audiences across time to hear the echoes of a century-long era that belongs uniquely to Macao."
The exhibition's opening ceremony on Wednesday was attended by distinguished guests including: Xu Dongjie, deputy chief of the Division of the Department of Publicity and Culture of the Liaison Office of the Central People's Government in the Macao SAR; Maria Helena de Senna Fernandes, director of the Macao Government Tourism Office; Cheang Kai Meng, vice president of the Cultural Affairs Bureau; Cheang Hio Man, deputy director of the Economic and Technological Development Bureau; Chan Hong, Macao deputy to the 14th National People's Congress and vice principal of Hou Kong Middle School; Professor Zhang Zhiqing, dean of the Faculty of Humanities and Arts of MUST; Ni Jun Meng, senior search of MUST Library; Lok Hei, president of the Macau Artists Society; Professor Ung; Dr. Wong; Grant Chum, chief executive officer and executive director of Sands China Ltd.; and Dave Sun, executive vice president and chief financial officer of Sands China Ltd., and managing director of Venetian Macau Limited.
Enterprise-academia collaboration; Extending cultural reach
To further enhance community engagement, Sands China and MUST will extend exhibition elements to the university campus, launching an academic dialogue to guide the public in understanding how Macao's firecracker industry has left its mark across packaging labels and oral histories; additionally, two joint exhibitions will focus respectively on the visual aesthetics of Guangdong firecracker packaging and the archival documents of Macao's firecracker industry. Running from March to May, all events are free to the public, aiming to foster academic exchange and deepen young people's understanding of Macao's history and culture.
First Macao integrated tourism and leisure enterprise at Art Central; Bringing firecracker culture to the world
From March 25 to 29, Sands China will become the first integrated tourism and leisure enterprise from Macao to participate in Hong Kong's international art event Art Central as an Associate Partner. Sands Gallery will further leverage its role as an international cultural portal, bringing the stories and aesthetics of Macao's firecrackers to the global stage, exhibiting the industry's works alongside those of three contemporary young Macao artists: Lei Ieng Wai, Leong Chi Mou, and Dor Lio Hak Man. This initiative aims to connect with the concurrent exhibition held in Macao, guiding global audiences to experience Macao's rich cultural heritage that blends East and West, and encouraging them to explore the main exhibition venue in Macao. Professor Ung will also deliver a special lecture on March 29 at Art Central, analysing the evolution of design and documentation in the industry.
"A Century of Iec Long Firecracker Factory in Radiance – An Exhibition on the Resonant History and Aesthetic Memory of Macao Firecrackers" represents a major initiative by Sands China in support of the Macao SAR government's diversification development strategy, promoting the advancement of the city's arts and culture while revitalising its historic districts. In contribution to the building of a "Cultural Macao" and the city's positioning as a World Centre of Tourism and Leisure, Sands China has been actively participating in the revitalisation of Iec Long Firecracker Factory since 2023, under the direction of "Reshape. Rejuvenate. Reimagine."
For more information, please visit https://en.sandsresortsmacao.com/sands-lifestyle/sands-art-gallery/iec-long-exhibition-2026.html.
Curator's Profile
Born in Macao, Ung Vai Meng began his early artistic training under the guidance of painter Kam Cheong Ling, studying sketching and watercolour. In 1991, he travelled to Lisbon to study at the Ar.Co arts school. He earned a Master's degree from the Guangzhou Academy of Fine Arts in 2002 and a Doctorate in Fine Arts from the China Academy of Art in Hangzhou in 2010. In 1999, he served as the first Director of the Macao Museum of Art. He was appointed the Head of the Cultural Activities and Recreation Department of the former Civic and Municipal Affairs Bureau (IACM) in 2008, and from 2010 to 2017, he served as president of the Cultural Affair Bureau of Macao. Currently, he is a Distinguished Professor and Doctoral Supervisor at MUST. His long-term dedication to the creation of contemporary art has earned him multiple awards in various art and design competitions in Macao and abroad since 1989. He is a member of the Macau Artist Society and a founding member of the Circle of the Friends of Macao's Culture, he has presented numerous solo exhibitions in Macao, Hong Kong, the Chinese mainland, and Europe.
In 2019, he formed the "Yiima" art group with local artist Chan Hin Io. In the same year, they held their first major exhibition at the Berardo Collection Museum in Lisbon; in 2022, they represented the Macao SAR at the 59th Venice International Art Biennale. In 2023 and 2025, he curated large-scale contemporary art exhibitions for the 2nd and 3rd Macao International Art Biennale, respectively.
In the field of cultural heritage, Professor Ung has long engaged in the promotion and preservation of Macao's cultural heritage. He participated in the drafting of Macao's Cultural Heritage Protection Law and contributed to the restoration of the former Iec Long Firecracker Factory. Over more than three decades, he has systematically collected a large number of precious materials related to the development of Macao's fireworks industry and the Iec Long Firecracker Factory, including labels, paintings, invoices, and documents. He has donated the entire collection to the MUST library for permanent archive and public exhibition.
Exhibition and related activities
"A Century of Iec Long Firecracker Factory in Radiance – An Exhibition on the
Resonant History and Aesthetic Memory of Macao Firecrackers"
Exhibition Period: March 18 – August 31, 2026
Opening Hours: 11:00-19:00
Venue: Sands Gallery, Level 6, The Grand Suites at Four Seasons Hotel Macao
"Historical Memories of the Taipa Firecracker Factory" Academic Dialogue
Date: March 20, 2026
Time: 10:00-12:00
Venue: Block R Theatre (R103), Macau University of Science and Technology
Organisers: MUST Library, Faculty of Humanities and Arts of MUST, Sands China Ltd.
As one of the extended academic activities of "A Century of Iec Long Firecracker Factory in
Radiance – An Exhibition on the Resonant History and Aesthetic Memory of Macao
Firecrackers," the organisers have invited Professor Ung and firecracker historian Lai Hong
Kin to hold an academic dialogue. The session will guide audiences in understanding how
Macao's firecracker industry left its mark on history through both packaging design and oral
storytelling.
Seminar on "Aesthetics of a Square Inch: A Century of Visual Culture Change
Through Macao's Firecracker Packaging"
Date: March 29, 2026
Time: 15:30-16:30
Venue: Art Central Theatre (by Booth P5), Central Harbourfront, Hong Kong
With his profound artistic accomplishments and historical insights, Professor Ung will guide
the audience through the century-long history of Macao's firecracker industry. Beginning
with precious collections from the art archives in Macao, the seminar will trace the
development of the firecracker trade and focus on the aesthetic universe emanating from
the square-inch packaging paper. He will analyse how the printing techniques embody the
technological spirit of their time, explore the folk symbolism and aesthetic trends behind the
exquisite graphics, and examine how the packaging design adapted to cross-cultural market
demands. These seemingly ordinary firecracker packages are, in fact, unique artistic
vessels reflecting Macao's socio-economic landscape, cultural integration, and nostalgia.
"Historical Resonance: Firecracker Label Art from Eastern Guangdong"
Exhibition Period: From now until March 31, 2026
Venue: 3/F, Block R, MUST
Organisers: MUST Library, Faculty of Humanities and Arts of MUST, Sands China Ltd.
The exhibition features firecracker packaging labels from the Eastern Guangdong region,
spanning the late 19th to the 20th century. It encompasses labels from Macao, Hong Kong,
Guangzhou, Foshan, Nanhai, Dongguan, and Zhanjiang (formerly Guangzhou Bay),
showcasing the distinctive characteristics of Eastern Guangdong firecracker packaging.
"Timeless Treasures: Archival Materials of Macao's Firecracker Industry"
Exhibition Period: April 10 ‒ May 31, 2026
Venue: Lantai Jiying Exhibition Area, 4/F, MUST Library
Organisers: MUST Library, Faculty of Humanities and Arts of MUST, Sands China Ltd.
The exhibition weaves together a timeline and thematic sections to systematically trace the
trajectory of Macao's firecracker industry ‒ from its rise and expansion through to its
transformation ‒ telling the story of its historical development. Exhibits include newspapers,
tax records, invoices, packaging labels, telegrams, photographs, and maps, among other
documents. Through this act of "reading history," visitors can reconnect with the memory of
Macao's once-thriving industrial past.
###
About Sands China Ltd.
Sands China Ltd. (Sands China or the Company) is incorporated in the Cayman Islands with limited liability and is listed on The Stock Exchange of Hong Kong Limited (HKEx: 1928). Sands China is the largest operator of integrated resorts in Macao. The Company's integrated resorts on the Cotai Strip comprise The Venetian® Macao, The Plaza® Macao, The Parisian® Macao and The Londoner® Macao. The Company also owns and operates Sands® Macao on the Macao peninsula. The Company's portfolio features a diversified mix of leisure and business attractions and transportation operations, including large meeting and convention facilities; a wide range of restaurants; shopping malls; world-class entertainment at The Venetian Arena, The Londoner Arena, The Venetian Theatre, The Parisian Theatre, The Londoner Theatre and Sands Theatre; and a high-speed Cotai Water Jet ferry service between Hong Kong and Macao. The Company's Cotai Strip portfolio has the goal of contributing to Macao's transformation into a world centre of tourism and leisure. Sands China is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS).
For more information, please visit www.sandschina.com.
Media contacts:
Corporate Communications, Sands China Ltd.
Mabel Wu
Tel: +853 8118 2268
Email: [email protected]
Investors are contending with plenty of near-term noise. There's the war in Iran, disappointing economic data, and the specter of the Federal Reserve cutting interest rates just once this year. If oil prices stay elevated for an extended period, pushing the Consumer Price Index (CPI) higher, the Fed might even be forced to raise rates.
That's a lot more than investors had on their 2026 bingo cards. But there are ways to stay invested while potentially reducing volatility. You could migrate to cash or bonds, but the right dividend stocks can also get the job done in tumultuous times.
These dividend stocks have the capacity for long-term payout growth. Image source: Getty Images.
Here are consumer names with the potential to deliver reliable, growing dividend income and share-price appreciation.
Sweet dependability with this beverage giant The gap over the last five years between PepsiCo (PEP 0.39%) and rival Coca-Cola is wide, with the latter outperforming the former by a wide margin: Pepsi stock rose by only 9%, and Coke by more than 46%. over that span.
It appears Pepsi has gotten the memo. Not only is the snack and soft-drink giant parting ways with some lagging brands, but it's also prioritizing healthy, value-oriented products, positioning itself to gain traction with today's health- and cost-conscious consumers.
Today's Change
(
-0.39
%) $
-0.56
Current Price
$
143.76
The dividend is dependable. PepsiCo has boosted payouts for 54 straight years, with the most recent hike in late 2025. With $9.5 billion in cash on its balance sheet as of the end of last year and leverage ratios that analysts view as tolerable, this consumer staples company has the capacity to continue growing that payout.
Golden arches, golden opportunity McDonald's (MCD +0.80%) lagged the broader consumer discretionary sector over the past three years as consumers grew frustrated with inflation-related price hikes. Like Pepsi, McDonald's appears to be aware of those gaffes, as its recent advertising campaigns focus on low-priced options with renewed emphasis on value meals.
The world's largest restaurant brand is also boosting spending on in-store technology, including artificial intelligence. Those investments may pay dividends by lifting unit economics and keeping McDonald's ahead of its rivals.
Today's Change
(
0.80
%) $
2.25
Current Price
$
284.77
Speaking of dividends, the company's streak of payout increases is now 49 years; over the past four years, 56% of earnings have been returned to investors in the form of dividends. By one estimate, McDonald's dividend growth is likely to average 9% annually for the next decade, indicating the stock could be an inflation-fighter for shareholders.
Rolling the dice Casino stocks can be tricky to own over extended periods, especially because the space isn't home to many dividend-growth stocks.
Las Vegas Sands (LVS 0.39%) alters that narrative. Yes, the company suspended its dividend to conserve cash early in the coronavirus pandemic. But since the payout was restored in 2023, it has been increased twice. An interesting, albeit speculative, tidbit about Sands' dividend is that its new CEO, Patrick Dumont, is the son-in-law of Dr. Miriam Adelson, the company's largest individual shareholder -- perhaps making any potential dividend cut less likely.
And one might not happen. Sands runs the most profitable casino in the world, Marina Bay Sands in Singapore. The company is the leading cash flow generator in the space. It has investment-grade credit ratings, which are hard to come by in the casino industry. It's also a dedicated buyer of its own shares.
Sands Gallery as bridge bringing Macao artists onto international art stage
Contemporary artworks presented alongside century-old firecracker history
Showcasing vibrant energy of Macao's art and cultural scene
, /PRNewswire/ -- Sands China celebrated the grand opening of its Sands Gallery booth Tuesday at Art Central, Hong Kong's premier international art event. The booth features artworks by three of Macao's forward-looking, promising young artists – Lei Ieng Wai, Leong Chi Mou, and Dor Lio Hak Man – alongside a historical collection from "A Century of Iec Long Firecracker Factory in Radiance – An Exhibition on the Resonant History and Aesthetic Memory of Macao Firecrackers" currently on view at Sands Gallery in Macao. Together, the booth offers a magnificent display of Macao's enduring artistic charm to visitors.
Guests of honour officiate the opening ceremony of the Sands Gallery booth, presented by Sands China Tuesday at Art Central, Hong Kong’s annual premier international art event at Central Harbourfront.
The Sands Gallery booth features artworks by three of Macao’s forward-looking, promising young artists – Lei Ieng Wai, Leong Chi Mou, and Dor Lio Hak Man – alongside a historical collection from “A Century of Iec Long Firecracker Factory in Radiance – An Exhibition on the Resonant History and Aesthetic Memory of Macao Firecrackers” currently on view at Sands Gallery in Macao. Together, the booth offers a magnificent display of Macao’s enduring artistic charm to visitors.
The Sands Gallery booth features artworks by three of Macao’s forward-looking, promising young artists – Lei Ieng Wai, Leong Chi Mou, and Dor Lio Hak Man – alongside a historical collection from “A Century of Iec Long Firecracker Factory in Radiance – An Exhibition on the Resonant History and Aesthetic Memory of Macao Firecrackers” currently on view at Sands Gallery in Macao. Together, the booth offers a magnificent display of Macao’s enduring artistic charm to visitors.
The Sands Gallery booth features artworks by three of Macao’s forward-looking, promising young artists – Lei Ieng Wai, Leong Chi Mou, and Dor Lio Hak Man – alongside a historical collection from “A Century of Iec Long Firecracker Factory in Radiance – An Exhibition on the Resonant History and Aesthetic Memory of Macao Firecrackers” currently on view at Sands Gallery in Macao. Together, the booth offers a magnificent display of Macao’s enduring artistic charm to visitors.
Sands China celebrated the grand opening of its Sands Gallery booth Tuesday at Art Central, Hong Kong’s premier international art event. Sands China's participation in Art Central reaffirms the company's commitment to promoting the development of art and culture in Macao. Since the establishment of Sands Gallery as a permanent art space in 2022, the company has consistently leveraged the gallery as a bridge connecting Macao artists with the global art world. Its debut appearance at Art Central not only brings emerging Macao artists onto an international stage, but also reflects the growing recognition of Sands Gallery within the international art scene. The opening day welcomed nearly 100 distinguished guests from Hong Kong and Macao to mark a new milestone in the development of Macao's art scene.
Sands China is the first integrated tourism and leisure enterprise from Macao invited as an Associate Partner to join Art Central. In alignment with the Macao SAR government's policy of diversified development, Sands China has long supported the integration of culture and tourism. Through presenting Sands Gallery at Art Central, the company seeks to further strengthen the gallery's role as an international cultural portal for Macao – a portal that helps Macao artists expand onto global platforms, thereby elevating the international competitiveness of Macao's arts and cultural sector and its talent development, while constantly fostering the city's vibrant and diversified development.
The Sands Gallery booth will be open to the public March 25-29, presenting more than 40 artworks, including distinctive pieces from the three Macao artists. Their works and artistic visions demonstrate a high international standard, while reflecting deep connections to Macao's urban life and cultural identity. Lei draws on scientific theory as the foundation of aesthetics, transforming artificial spectra, proportional values, and geometric structures into repetitive, precise blocks of colour and surfaces of light that reflect the fluidity and changes of urban life. Leong interrogates shifting notions of value and cultural interfaces that shape identity, informed by his personal migration history. His works examine the tension and intricate relations between Macao culture and artistic essence. Lio blends Japanese manga and Western painting into his practice in a distinctive approach, creating imaginative narratives and artistic spaces that resonate with both ordinary and philosophical experiences.
Dr. Wilfred Wong, executive vice chairman of Sands China Ltd., said: "Since the establishment of Sands Gallery in 2022, Sands China has been committed to fostering cultural exchange between Macao and the world – by leveraging the gallery as a bridge that brings the world of international art into Macao, while carrying Macao's rich artistic vision to the world. After four years of dedicated efforts, we are honoured to be the first integrated tourism and leisure enterprise from Macao participating in Art Central as an Associate Partner. Today, we are delighted to introduce three exceptionally promising young artists from Macao — Lei Ieng Wai, Leong Chi Mou, and Dor Lio Hak Man — showcasing their creative flair to international audiences. Through the power of art, we hope to bring the world closer and deepen people's understanding of one another.
"Macao is a city shaped by over four centuries of cultural exchange between East and West. To reflect this heritage, we are also presenting elements of our special exhibition, 'A Century of Iec Long Firecracker Factory in Radiance,' currently on view at Sands Gallery in Macao, enabling global audiences to experience this shared memory of Macao's vibrant days. By participating in this year's Art Central, we aim for Macao to be a wider international cultural portal, highlighting the stories of Macao artists — and to leverage art as a bridge for global understanding, so we may flourish and grow together."
Lei said: "I would like to express my gratitude to Sands Gallery for supporting me on my artistic journey. From participating in the collateral exhibition for Art Macao at Sands Gallery a few years ago to being here at Art Central today, every step has held great significance for me. The three series on display took me 10 years to complete, and their rich content reflects my unwavering dedication to artistic practice and exploration. With the support of Sands Gallery, I believe that we can use Art Central as a platform to exchange ideas with artists from around the world while elevating my work to new heights."
Leong said: "It was an honour to participate in a collateral exhibition for Art Macao at Sands Gallery a few years ago. I am honoured to join hands with the gallery once again to bring my recognised works to Art Central. Our participation in this prestigious art event not only opens a window for the future development of Macao's art and cultural industry, but also allows the city's distinctive artistic and cultural heritage to shine on the global stage. With the support of Sands Gallery and the showcase of my multimedia works that blend Eastern and Western cultures, we can unleash more opportunities to establish a presence on the global art scene and allow Macao artists to be seen by wider audiences."
Lio said: "It is my first time participating in Art Central, and I am truly honoured to have been invited to an international platform outside Macao to showcase my works to global audiences and connect with artists from around the world. I am grateful to Sands Gallery for providing Macao artists with such a valuable opportunity to pave the way onto the global stage, showcasing the city's creative flair to the world. Through this exhibition, I hope my works can reach more people and bring them a sense of resonance and joy, while demonstrating the strength of Macao's art scene to the world."
Showcasing the diverse cultural heritage of Macao through contemporary art and century-old industrial craftsmanship
The Sands Gallery booth is also being presented in conjunction with "A Century of Iec Long Firecracker Factory in Radiance – An Exhibition on the Resonant History and Aesthetic Memory of Macao Firecrackers," currently on view at Sands Gallery in Macao. Marking the centenary of the Iec Long Firecracker Factory, the booth is also presenting original Macao firecracker packaging labels. Through artistic expression spanning different eras, the exhibition showcases the enduring innovation and creative vitality of Macao's arts and cultural landscape.
In addition, Professor Ung Vai Meng, distinguished professor of the Faculty of Humanities and Arts at the Macau University of Science and Technology and curator of the Iec Long firecracker exhibition, will host a seminar at the Art Central Theatre March 29. Titled "Aesthetics in a Square-Inch: A Century of Visual Culture Change Through Macao's Firecracker Packaging," the seminar will delve into the development and aesthetic spirit of Macao's firecracker industry, bringing the cherished memories of its century-old industrial heritage to the global stage.
The booth's opening brought together nearly 100 distinguished guests, including Macao government officials and representatives from the fields of art and culture, tourism, academia, and media. Moreover, Sands China specially arranged tours guided by professionals from Art Central for the guests to visit both the Sands Gallery booth and other participating galleries. The initiative aims to encourage Macao's various sectors to broaden their international horizons by fostering deeper exchanges with global artists, galleries, and collectors, thereby enhancing their artistic perspectives.
Guests of honour at Tuesday's opening ceremony were: Stanley Mok, general manager of the Macau Government Tourism Office Representative Office in Hong Kong; Corey Andrew Barr, fair director of Art Central; Lok Hei, president of the Macau Artist Society; Professor Ung;
Macao artists Lei, Leong, and Lio; Dr. Wong; and Devonne Iao, senior vice president and chief marketing officer of resort marketing for Sands China Ltd.
For more information about the Sands Gallery booth, please visit https://en.sandsresortsmacao.com/sands-lifestyle/sands-art-gallery/art-central-202603.html.
For more information about Art Central and ticketing, please visit artcentralhongkong.com.
About Sands Gallery
As an art space located at The Grand Suites at Four Seasons Hotel Macao, Sands Gallery is dedicated to bringing diverse art exhibitions to the city, fostering the sustainable development of Macao's cultural and creative industries.
Since its establishment in 2022, the gallery has hosted 12 exhibitions of varied styles, introducing artworks of international and national calibre while also providing opportunities for local artists to showcase their works and connect with the global art stage.
Through continued endeavours in Macao's arts and cultural sector, Sands China has built the Gallery into a platform of artistic weight and cultural depth, injecting multicultural vitality into Macao, enriching the artistic experiences of residents and visitors, and enhancing public appreciation of art. At the same time, it fully supports the Macao SAR government's policy of promoting travel development, contributing to Macao's growth as "a base for exchange and cooperation where Chinese culture is the mainstream and diverse cultures coexist."
About Sands China Ltd.
Sands China Ltd. (Sands China or the Company) is incorporated in the Cayman Islands with limited liability and is listed on The Stock Exchange of Hong Kong Limited (HKEx: 1928). Sands China is the largest operator of integrated resorts in Macao. The Company's integrated resorts on the Cotai Strip comprise The Venetian® Macao, The Plaza® Macao, The Parisian® Macao and The Londoner® Macao. The Company also owns and operates Sands® Macao on the Macao peninsula. The Company's portfolio features a diversified mix of leisure and business attractions and transportation operations, including large meeting and convention facilities; a wide range of restaurants; shopping malls; world-class entertainment at The Venetian Arena, The Londoner Arena, The Venetian Theatre, The Parisian Theatre, The Londoner Theatre and Sands Theatre; and a high-speed Cotai Water Jet ferry service between Hong Kong and Macao. The Company's Cotai Strip portfolio has the goal of contributing to Macao's transformation into a world centre of tourism and leisure. Sands China is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS).
For more information, please visit www.sandschina.com.
About Art Central
Art Central, a cornerstone event of Hong Kong Art Month, presents the next generation of talent from Asia's most forward-thinking galleries alongside celebrated artists from across the globe. Since its inaugural edition in 2015, Art Central has established itself as a leading platform for innovation in contemporary art, advancing the profiles of artists and galleries and reinforcing their presence within the international art landscape. Today, the Fair is recognised for the strength of its curatorial programming and as a vital meeting point for discovery and exchange among collectors and curators representing private, corporate, and institutional collections worldwide.
Media contacts:
Corporate Communications, Sands China Ltd.
Mabel Wu
Tel: +853 8118 2268
Email: [email protected]
Jesse Chiang
Tel: +853 8118 2054
Email: [email protected]
Artist Profiles
Lei Ieng Wai
The 39-year-old artist is a graduate of the Oil Painting Department of the Guangzhou Academy of Fine Arts, holding both bachelor's and master's degrees. He currently serves as director of the Macau Artist Society, and vice president of the Macau Youth Art Association, and is a renowned and influential artist in Macao.
Lei acquires creative inspirations from the tension of light and shadow in everyday life. He draws on scientific theory as the foundation of aesthetics, transforming artificial spectra, proportional values, and geometric structures into repetitive and precise blocks of colour and surfaces of light, exploring urban changes and the lives of city dwellers.
He has held solo exhibitions in Portugal, Taiwan region, and Macao SAR, and participated in group exhibitions in the Chinese mainland, Macao SAR, Portugal, the United Kingdom, Spain, Australia, and the United States, including Art Madrid 2018, Affordable Art Fair New York, Affordable Art Fair Hampstead, and the collateral exhibition of "Art Macao: Macau International Art Biennale 2023."
Leong Chi Mou
The 34-year-old artist graduated from the Macao Polytechnic University's Faculty of Art and Design with a Bachelor of Arts degree in Visual Arts (Oil Painting). He is a member of the Macau Artist Society and one of Macao's most influential emerging artists.
His works span both painting and installations. His practice interrogates shifting notions of value and the cultural interfaces that shape identity, informed by personal migration histories and Macao's post-colonial context. Through these inquiries, Leong's works examine the conditions of cultural survival and the intricate entanglements between artistic essence and value systems.
Beyond his solo exhibitions in Macao, he has participated in group exhibitions across the Chinese mainland, Portugal, Belgium, Japan, and other countries and regions. Notable appearances include the 23rd Shanghai Art Fair, the Shenzhen Art Fair, the Guangzhou International Art Fair, the collateral exhibition of "Art Macao: Macao International Art Biennale 2023," and the Belgian exhibition "Surrealistic Chinoiserie: Golden City of Seres – A Cultural and Artistic Exchange Exhibition and Performance between Macao and Antwerp."
Dor Lio Hak Man
The 49-year-old artist serves as vice-director of the Macau Artist Society, vice president of the Macau Youth Art Association, council member of the Society of Urban Sketchers Macao, and a member of Comic's Kingdom Macau. He teaches visual art at a Macao high school and via private lessons.
Born into an artistic family and graduating from City University of Macau, he channels influences from Japanese manga and Western painting into a practice grounded in everyday observation. His work records daily encounters, emotional impressions, and imaginative associations with a relaxed sensibility. He shapes a refined, philosophically attuned visual language that bridges interior experience with an outward-facing openness.
He has held solo exhibitions such as "Festa – Exhibition of Works by Lio Hak Man" in Macao and participated in group exhibitions in the Chinese mainland, Portugal, and South Korea, including "FEBRE: 15 Contemporary Artists from Macao" in Lisbon, "Beijing-Macao Art Teachers Group Exhibition," and the "South Korea-Hong Kong-Macao Joint Art Exhibition."
Sands Gallery booth garners high international recognition
Macao's emerging artists shine on global art stage
Extended activities engage community with firecracker seminar and art tour
Fostering cultural exchange between Macao and the world
, /PRNewswire/ -- Presented by Sands China, the Sands Gallery booth concluded successfully March 29 at Art Central, Hong Kong's premier annual international art event. Throughout the five-day exhibition, the booth attracted strong interest from international gallery representatives, collectors, and artists, fostering cross-cultural exchanges centred on the works of three young Macao artists — Lei leng Wai, Leong Chi Mou, and Dor Lio Hak Man. Additionally, the booth featured a curated firecracker catalogue and a precious collection of original firecracker packaging labels from "A Century of Iec Long Firecracker Factory in Radiance – An Exhibition on the Resonant History and Aesthetic Memory of Macao Firecrackers," currently on view at Sands Gallery in Macao. The display captivated a wide international audience, demonstrating the global appeal of Macao's cross-generational culture.
Sands Gallery’s participation in Art Central underscores its role as an international cultural portal for Macao. It not only leads Macao artists to shine on the global stage, but also highlights Macao’s rich cultural and artistic qualities, further enhancing the city’s international reputation and its influence in the field.
Presented by Sands China, the Sands Gallery booth concluded successfully March 29 at Art Central, Hong Kong’s premier annual international art event. This year’s Art Central was the largest edition to date, bringing together 117 galleries and over 500 international artists, attracting more than 40,000 visitors.
Throughout the five-day exhibition, the Sands Gallery booth attracted strong interest from international gallery representatives, collectors, and artists, fostering cross-cultural exchanges centred on the works of three young Macao artists — Lei leng Wai, Leong Chi Mou, and Dor Lio Hak Man.
Throughout the five-day exhibition, the Sands Gallery booth attracted strong interest from international gallery representatives, collectors, and artists, fostering cross-cultural exchanges centred on the works of three young Macao artists — Lei leng Wai, Leong Chi Mou, and Dor Lio Hak Man.
Throughout the five-day exhibition, the Sands Gallery booth attracted strong interest from international gallery representatives, collectors, and artists, fostering cross-cultural exchanges centred on the works of three young Macao artists — Lei leng Wai, Leong Chi Mou, and Dor Lio Hak Man.
The Sands Gallery booth also featured a curated firecracker catalogue and a precious collection of original firecracker packaging labels from “A Century of Iec Long Firecracker Factory in Radiance – An Exhibition on the Resonant History and Aesthetic Memory of Macao Firecrackers,” currently on view at Sands Gallery in Macao. The display captivated a wide international audience, demonstrating the global appeal of Macao’s cross-generational culture.
The Sands Gallery booth also featured a curated firecracker catalogue and a precious collection of original firecracker packaging labels from “A Century of Iec Long Firecracker Factory in Radiance – An Exhibition on the Resonant History and Aesthetic Memory of Macao Firecrackers,” currently on view at Sands Gallery in Macao. The display captivated a wide international audience, demonstrating the global appeal of Macao’s cross-generational culture.
Sands China invited distinguished Professor Ung Vai Meng of the Faculty of Humanities and Arts at the Macau University of Science and Technology, who curated the firecracker exhibition at Sands Gallery in Macao, to deliver a seminar March 29 at Art Central.
The seminar traced the development of the firecracker trade, focusing on the aesthetics emanating from the square-inch packaging paper, the folk symbolism and aesthetic trends behind the graphics, and how the packaging design responded to cross-cultural market demands.
Sands China specially arranged a guided tour at Art Central for representatives from four NGOs in Macao: Fuhong Society of Macau, Macau Special Olympics, the Noah Family Mutual Aid Association, and the Richmond Fellowship of Macau, allowing them to experience the international art event firsthand and enabling them to appreciate the power of diverse art and creativity, while paving the way to foster inclusion of art in the Macao community from a broader perspective. Sands Gallery's participation in Art Central underscores its role as an international cultural portal for Macao. It not only leads Macao artists to shine on a global stage, but also highlights Macao's rich cultural and artistic qualities, further enhancing the city's international reputation and its influence in the field of arts and culture.
Sands China is the first integrated tourism and leisure enterprise in Macao invited to join Art Central as an Associate Partner. This year's Art Central was the largest edition to date, bringing together 117 galleries and over 500 international artists, and attracting more than 40,000 visitors.
Since its establishment in 2022, Sands Gallery has consistently introduced international artworks to Macao, while providing a platform for Macao artists to showcase their works to an international audience. Such initiatives are designed to align with the Macao SAR government's directives on diversified development and cultural tourism. The Sands Gallery booth at Art Central featured more than 40 artworks, including the representative works by the three Macao contemporary artists and the original Macao firecracker packaging labels. In addition, the company arranged extended activities — a seminar on firecracker aesthetics and guided art tours — to further foster art and cultural exchange between Macao and the world.
Dr. Wilfred Wong, executive vice chairman of Sands China Ltd., said: "We are deeply honoured to join Art Central as Associate Partner, sincerely grateful to the organiser for their recognition and support in Sands Gallery. As a prominent platform in the global contemporary art scene, Art Central has provided a valuable opportunity for Sands Gallery to showcase Macao's cultural depth and artistic vitality to the world; the ensuing recognition received from the international art industry, academia, and visitors is deeply meaningful and profoundly encouraging to us. We are delighted to see the works of Lei leng Wai, Leong Chi Mou, and Dor Lio Hak Man garnering such high acclaim from collectors, visitors, and media from all over the world, which has enabled them to broaden their international perspectives and networks, and also laid a robust foundation for their future international advancement in the global art scene.
"We also organised a seminar on firecracker aesthetics hosted by Professor Ung Vai Meng as an extended activity at Art Central, introducing Macao's century-old cultural legacy to international audiences through dialogues and exchanges. In this way, we hope to inspire international visitors to further discover Macao's history and heritage, strengthening the city's position as a World Centre of Tourism and Leisure. We would like to extend our heartfelt gratitude to the Macao SAR government and various sectors of society for their full support of Sands Gallery. Looking ahead, Sands China will continue to support the government's economic diversification plan, while expanding international platforms for Macao artists. Through the power of arts and culture, we aspire to foster a more diverse, visionary future for Macao."
Corey Andrew Barr, fair director of Art Central, said: "Sands China embodies a spirit of partnership that goes far beyond the conventional — building genuine pathways for the exchange of art and ideas between Macao and Hong Kong, rooted in a deep sense of shared heritage that binds our two cities like family. We are honoured to welcome Sands China as Associate Partner of Art Central, and to celebrate this relationship as one of our most meaningful."
Artist Lei Ieng Wai, said: "I sincerely thank Sands Gallery for its dedicated efforts in broadening international horizons for Macao artists and providing us with valuable opportunities to showcase our work to an international audience. This exhibition has been tremendously constructive, enabling us to forge connections with international collectors and art institutions while laying an important foundation for Macao artists to enter the global market. I am deeply grateful to Sands China and looking forward to further opportunities to participate in international art events, continuing to showcase the creative strengths of Macao artists with the world."
Artist Leong Chi Mou, said: "I am grateful to Sands China for fully supporting our participation in Art Central, which allowed us to engage with international galleries, curators and artists, and gain deeper insights into the preferences of global audiences and markets. This experience has been richly nourishing and has prompted me to reflect on how Macao's art can further connect with the world. From participating in Art Macao's collateral exhibition at Sands Gallery a few years ago to now standing together on this international stage through the gallery, I firmly believe that artistic strength nurtured by Sands Gallery will shine even more brightly on the world stage in the future."
Artist Dor Lio Hak Man, said: "I would like to express my gratitude to Sands Gallery for facilitating my debut at Art Central. Beyond the opportunity to present my work, this has been a cherished learning experience that has fostered significant growth. I was deeply inspired and impressed by the creations and perspectives of global artists on this international art stage, which has led me to further contemplate my own creative direction. Art is an endless journey; this experience has strengthened my resolve to achieve my goals, which are to create more impactful artworks, and continue to capture life and spread warmth through art."
French artist and collector Nicolas Deladerrière, who visited the booth, said: "It was truly refreshing to visit the Sands Gallery booth at Art Central. The collection is a brilliant cocktail of tradition and modernity — Macao's artists exploring everyday life with a sharp wit, while seamlessly revisiting centuries of graphic heritage. The highlight for me was seeing those beautiful, vintage firecracker labels. Created in Macao over a century, they built the graphic imagery of our childhoods all over the world. Seeing the thoughtful juxtaposition of Macao's history with the bold energy of these rising contemporary voices creates a powerful bridge between our past and the future of art that resonates with audiences across generations."
Seminar extends century-old firecracker aesthetics to showcase Macao's art and cultural heritage
To help international audiences better comprehend the aesthetic legacy of Macao's century-old firecracker industry, Sands China invited distinguished Professor Ung Vai Meng of the Faculty of Humanities and Arts at the Macau University of Science and Technology, who curated the firecracker exhibition at Sands Gallery in Macao, to deliver a seminar March 29 at Art Central. The seminar traced the development of the firecracker trade, focusing on the aesthetics emanating from the square-inch packaging paper, the folk symbolism and aesthetic trends behind the graphics, and how the packaging design responded to cross-cultural market demands.
The seminar was well received and sparked enthusiastic discussions on-site, connecting shared memories among audiences from Hong Kong and Macao through the genuine sharing of the speaker. The event also provided international audiences with a profound perspective into the industry's history, aesthetics, and urban memory, deepening their understanding of the cultural significance and warmth of Macao's firecracker heritage.
Participation in art tour connects the community
To broaden public engagement with art, Sands China specially arranged a guided tour at Art Central for representatives from four NGOs in Macao: the Fuhong Society of Macau, the Macau Special Olympics, the Noah Family Mutual Aid Association, and the Richmond Fellowship of Macau. Led by professionals from Art Central, participants visited the Sands Gallery booth and other exhibiting galleries, allowing NGO members to experience the international art event firsthand and enabling them to appreciate the power of diverse art and creativity, while paving the way to foster inclusion of art in the Macao community from a broader perspective.
Jennifer Chau, director of Fuhong Society of Macau, who participated in the art tour, said: "I would like to express my gratitude to Sands China for organising this art tour for NGOs. It provided us a valuable opportunity to appreciate the works of three Macao artists introduced by the Sands Gallery booth at Art Central, while also allowing us to visit other international galleries. This experience is a valuable source of inspiration, helping us gain a deeper understanding of international approaches to artistic expression and curatorial techniques, which is beneficial to the art development within our organisation. Looking ahead, we hope to foster more collaboration with Macao artists and jointly promote art inclusion. Together, we can further share the story of Macao and its art with the world."
About Sands Gallery
As an art space located at The Grand Suites at Four Seasons Hotel Macao, Sands Gallery is dedicated to bringing diverse art exhibitions to the city, fostering the sustainable development of Macao's cultural and creative industries.
Since its establishment in 2022, the gallery has hosted 12 exhibitions of varied styles, introducing artwork of international and national calibre while also providing opportunities for local artists to showcase their work and connect with the global art stage.
Through continued endeavours in Macao's arts and cultural sector, Sands China has built the Gallery into a platform of artistic weight and cultural depth, injecting multicultural vitality into Macao, enriching the artistic experiences of residents and visitors, and enhancing public appreciation of art. At the same time, it fully supports the Macao SAR government's policy of promoting non-gaming development, contributing to Macao's growth as "a base for exchange and cooperation where Chinese culture is the mainstream and diverse cultures coexist."
About Sands China Ltd.
Sands China Ltd. (Sands China or the Company) is incorporated in the Cayman Islands with limited liability and is listed on The Stock Exchange of Hong Kong Limited (HKEx: 1928). Sands China is the largest operator of integrated resorts in Macao. The Company's integrated resorts on the Cotai Strip comprise The Venetian® Macao, The Plaza® Macao, The Parisian® Macao and The Londoner® Macao. The Company also owns and operates Sands® Macao on the Macao peninsula. The Company's portfolio features a diversified mix of leisure and business attractions and transportation operations, including large meeting and convention facilities; a wide range of restaurants; shopping malls; world-class entertainment at The Venetian Arena, The Londoner Arena, The Venetian Theatre, The Parisian Theatre, The Londoner Theatre and Sands Theatre; and a high-speed Cotai Water Jet ferry service between Hong Kong and Macao. The Company's Cotai Strip portfolio has the goal of contributing to Macao's transformation into a world centre of tourism and leisure. Sands China is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS).
For more information, please visit www.sandschina.com.
About Art Central
Art Central, a cornerstone event of Hong Kong Art Month, presents the next generation of talent from Asia's most forward-thinking galleries alongside celebrated artists from across the globe. Since its inaugural edition in 2015, Art Central has established itself as a leading platform for innovation in contemporary art, advancing the profiles of artists and galleries and reinforcing their presence within the international art landscape. Today, the Fair is recognised for the strength of its curatorial programming and as a vital meeting point for discovery and exchange among collectors and curators representing private, corporate, and institutional collections worldwide.
Media contacts:
Corporate Communications, Sands China Ltd.
Mabel Wu
Tel: +853 8118 2268
Email: [email protected]
Two factors often determine stock prices in the long run: earnings and interest rates. Investors can't control the latter, but they can focus on a company's earnings results every quarter.
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Should You Consider Las Vegas Sands?The final step today is to look at a stock that meets our ESP qualifications. Las Vegas Sands (LVS - Free Report) earns a #3 (Hold) 20 days from its next quarterly earnings release on April 22, 2026, and its Most Accurate Estimate comes in at $0.80 a share.
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The company's new environmental, social and governance report recaps 2025 highlights and full reporting cycle accomplishments.
, /PRNewswire/ -- Las Vegas Sands (NYSE: LVS) has released its latest environmental, social and governance (ESG) report, highlighted by the accomplishment of its 2021-2025 ambitions in the areas of workforce development, community volunteerism and carbon emissions reduction. The company's goals align with its People, Communities and Planet corporate responsibility pillars.
At the close of 2025, Sands had spent more than $270 million on workforce development initiatives since 2021, surpassing its People pillar ambition to invest $200 million by 2025. In 2025, the company invested nearly $53 million in programs to advance job skills and career training for Team Members, hospitality industry professionals and the local labor pool in its regions.
Sands also surpassed its Communities pillar target of contributing 250,000 Team Member volunteer hours by 2025, with more than 290,000 hours amassed between 2021-2025 and nearly 35,000 volunteer hours logged for 82 nonprofit organizations in 2025.
Under the Planet pillar, Sands reduced its scope 1 and 2 emissions by 54% in 2025 from a 2018 base year, achieving its Science Based Targets Initiative (SBTi)-validated 17.5% reduction target as well as its 1.5°C-aligned 30% reduction target in line with the United Nations Paris Agreement. The company supported accomplishment of these targets by accelerating renewable energy use and increasing energy attribute certificate purchases from 8% to 31% during the reporting cycle.
In addition to these primary ambitions, Sands made advancements in other People, Communities and Planet priorities.
People – Beyond its 2021-2025 workforce development investment, which encompassed 235 partnerships with universities and 116 new Team Member development programs, Sands continued to place priority on working with local businesses and small and medium enterprises (SMEs) in support of its regions' economic health. In 2025, the company procured $2 billion in goods and services from local businesses in its regions, including $437 million from diverse businesses and SMEs. During the full 2021-2025 reporting period, the company spent $1.7 billion with SMEs in Macao alone.
Communities – Along with its priority on community volunteer service, Sands provided $11 million in philanthropic contributions to nonprofit organizations in 2025 and $53 million in sponsorships to support its regions' cultural events and programs during the 2021-2025 reporting cycle. Helping nonprofits build their capacity through funding and mentorship remained a top priority, headlined by the Sands Cares Accelerator, which incubates the strategic goals of nonprofits over three years and graduated its sixth member at the end of 2025.
Over the five-year reporting period, helping regions navigate the pandemic and other crisis situations was a primary focus, with Sands contributing substantial Team Member volunteer time, emergency-response supplies, in-kind donations and funding for COVID-19 support around the world. The company's regions also continued their long-standing tradition of aiding people facing hardships by assembling and donating more than 300,000 hygiene and emergency kits through the Sands Cares Global Hygiene Kit Build with Clean the World and other local emergency preparedness initiatives.
Planet – In addition to maintaining achievement of its emissions-reduction target, Sands achieved other milestones in its priority areas of waste diversion, incorporation of sustainable materials and resources, and water stewardship led by the Sands ECO360 global sustainability program. By the end of 2025, the company had increased operational waste diversion by 10% over a 2019 base year, surpassing its 5% target. Sands' properties also prevented, rescued or diverted 36% of food waste in 2025, well above the company's 25% target. In support of its global commitment to reduce food waste, Sands donated 52 metric tons of unserved food to local hunger relief organizations during the five-year reporting period.
In line with its focus on increasing use of sustainable materials and resources, Sands successfully transitioned all company-branded water bottles to reusable solutions or sustainable materials as of August 2025. The company also set a target to procure 100% cage-free eggs by 2028 and made strong progress by achieving 40% sourcing at the end of 2025. Finally, Sands reduced potable water use intensity by 8% in 2025 from the 2019 base year, surpassing its 3% reduction target.
"The 2021-2025 reporting period was a time of resilience and sheer determination to reach our targets with the significant challenges the pandemic brought to the hospitality industry in the early part of the cycle," Katarina Tesarova, senior vice president and chief sustainability officer, said. "We remained committed to our goals throughout every stage, and the credit for achievement of our ESG targets goes to our Team Members around the world."
Underscoring Sands' ESG performance in 2025, the company was included on Fortune's World's Most Admired Companies 2026 list, Newsweek's 2026 America's Greenest Companies and 2026 America's Most Responsible Companies lists, and CDP's 2025 A-List for Climate Change.
To read the company's 2025 ESG Report, visit: https://www.sands.com/resources/reports/.
About Sands (NYSE: LVS)
Sands is the leading global developer and operator of integrated resorts. The company's iconic properties drive valuable leisure and business tourism and deliver significant economic benefits, sustained job creation, financial opportunities for local businesses and community investment to help make its host regions ideal places to live, work and visit.
Sands' portfolio of properties includes Marina Bay Sands® in Singapore and The Venetian® Macao, The Londoner Macao®, The Parisian® Macao, The Plaza® Macao and Four Seasons® Hotel Macao, and Sands® Macao in Macao SAR, China, through majority ownership in Sands China Ltd.
Dedicated to being a leader in corporate responsibility, Sands is anchored by the core tenets of serving people, communities and the planet. The company's ESG leadership has led to inclusion on the Dow Jones Best-in-Class Indices for World and North America, as well as Fortune's list of the World's Most Admired Companies. To learn more, visit www.sands.com.
Net Revenue Increased 25.3% to $3.59 billion Net Income Increased 57.1% to $641 million Diluted Earnings per Share Increased 73.5% to $0.85 per Share Consolidated Adjusted Property EBITDA Increased 24.6% to $1.42 billion LVS Repurchased $740 million of Common Stock , /PRNewswire/ -- Las Vegas Sands (NYSE: LVS), the leading global developer and operator of Integrated Resorts, today reported financial results for the quarter ended March 31, 2026.
"We continued to execute our strategic objectives during the quarter as we delivered growth in both Singapore and Macao while continuing to increase the return of capital to shareholders," said Patrick Dumont, chairman and chief executive officer.
"Looking ahead, we remain confident that our people, our products and our focus on delivering outstanding service, hospitality and entertainment experiences to our customers will drive growth for the company and deliver strong returns to our shareholders in the years ahead."
Net revenue was $3.59 billion, compared to $2.86 billion in the prior year quarter. Operating income was $904 million, compared to $609 million in the prior year quarter. Net income in the first quarter of 2026 was $641 million, compared to $408 million in the first quarter of 2025.
Consolidated adjusted property EBITDA was $1.42 billion, compared to $1.14 billion in the prior year quarter.
Sands China Ltd. Consolidated Financial Results
On a GAAP basis, total net revenues for SCL increased 23.6% to $2.10 billion, compared to the first quarter of 2025. Net income for SCL increased 45.5% to $294 million, compared to $202 million in the first quarter of 2025.
Other Factors Affecting Earnings
Interest expense, net of amounts capitalized, was $188 million for the first quarter of 2026, compared to $174 million in the prior year quarter. Our weighted average debt balance was $16.0 billion during the first quarter of 2026, compared to $13.86 billion during the first quarter of 2025. Our weighted average borrowing cost was 4.6% during the first quarter of 2026, compared to 4.9% during the first quarter of 2025.
Our effective income tax rate for the first quarter of 2026 was 14.3%, compared to 13.4% in the prior year quarter. The income tax rate for the first quarter of 2026 was primarily driven by a 17% statutory rate on our Singapore operations.
Stockholder Returns
During the first quarter of 2026, we repurchased $740 million of our common stock (approximately 13 million shares at a weighted average price of $56.64). The remaining amount authorized under our share repurchase program was $817 million as of March 31, 2026. Since the resumption of our share repurchase program in the fourth quarter of 2023 through March 31, 2026, we have repurchased 14.3% of our outstanding shares, approximately 109 million shares of our common stock at an average price of $47.95, for a total investment of $5.24 billion. The timing and actual number of shares to be repurchased in the future will depend on a variety of factors, including the company's financial position, earnings, legal requirements, other investment opportunities and market conditions.
We paid a quarterly dividend of $0.30 per common share during the quarter. Our next quarterly dividend of $0.30 per common share will be paid on May 13, 2026, to Las Vegas Sands stockholders of record on May 5, 2026.
Balance Sheet Items
Unrestricted cash balances as of March 31, 2026 were $3.33 billion.
As of March 31, 2026, total debt outstanding, net of deferred offering costs and original issue discounts, excluding finance leases, was $15.57 billion.
In April 2026, the company repaid HKD 2.40 billion (approximately $307 million at exchange rates in effect at the time of the transaction) of the outstanding balance under the 2024 SCL Revolving Facility.
As of April 22, 2026, the company has access to $3.97 billion available for borrowing under our U.S., SCL and Singapore revolving credit facilities, net of outstanding letters of credit, and $4.94 billion available under a delayed draw term loan facility that may be used to finance development and construction costs, expenses, fees and other payments related to the MBS Expansion Project.
Capital Expenditures
Capital expenditures during the first quarter totaled $194 million, including construction, development and maintenance activities of $102 million at Marina Bay Sands and $89 million in Macao.
Conference Call Information
The company will host a conference call to discuss the company's results on Wednesday, April 22, 2026, at 1:30 p.m. Pacific Time. Interested parties may listen to the conference call through a webcast available on the company's website at www.sands.com.
About Sands (NYSE: LVS)
Sands is the leading global developer and operator of integrated resorts. The company's iconic properties drive valuable leisure and business tourism and deliver significant economic benefits, sustained job creation, financial opportunities for local businesses and community investment to help make its host regions ideal places to live, work and visit.
Sands' portfolio of properties includes Marina Bay Sands® in Singapore and The Venetian® Macao, The Londoner Macao®, The Parisian® Macao, The Plaza® Macao and Four Seasons® Hotel Macao, and Sands® Macao in Macao SAR, China, through majority ownership in Sands China Ltd.
Dedicated to being a leader in corporate responsibility, Sands is anchored by the core tenets of serving people, communities and the planet. The company's ESG leadership has led to inclusion on the Dow Jones Best-in-Class Indices for World and North America, as well as Fortune's list of the World's Most Admired Companies. To learn more, visit www.sands.com.
Forward-Looking Statements
This press release contains forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the discussions of our business strategies and expectations concerning future operations, margins, profitability, liquidity and capital resources. In addition, in certain portions included in this press release, the words "anticipates," "believes," "can," "continues," "estimates," "expects," "goals," "intends," "looks forward to," "may," "opportunities," "plans," "positions," "remains," "seeks," "targets," "will," "would" and similar expressions, as they relate to our company or management, are intended to identify forward-looking statements. Although we believe these forward-looking statements are reasonable, we cannot assure you any forward-looking statements will prove to be correct. These statements represent our expectations, beliefs, intentions or strategies concerning future events that, by their nature, involve a number of risks, uncertainties or other factors beyond our control, which may cause our actual results, performance, achievements or other expectations to be materially different from any future results, performance, achievements or other expectations expressed or implied by these forward-looking statements. These factors include, but are not limited to, the risks associated with: our gaming license in Singapore and concession in Macao and amendments to Macao's gaming laws; general economic conditions; disruptions or reductions in travel and our operations due to natural or man-made disasters, pandemics, epidemics or outbreaks of infectious or contagious diseases; our ability to invest in future growth opportunities, or attempt to expand our business in new markets and new ventures, execute our capital expenditure programs at our existing properties and produce future returns; government regulation; the extent to which the laws and regulations of mainland China become applicable to our operations in Macao and Hong Kong; the possibility that economic, political and legal developments in Macao adversely affect our Macao operations, or that there is a change in the manner in which regulatory oversight is conducted in Macao; our subsidiaries' ability to make distribution payments to us; substantial leverage and debt service; fluctuations in currency exchange rates and interest rates; our ability to collect gaming receivables; win rates for our gaming operations; risk of fraud and cheating; competition; tax law changes; political instability, civil unrest, terrorist acts or war; legalization of gaming; insurance; the collectability of our outstanding loan receivable; limitations on the transfers of cash to and from our subsidiaries; limitations of the pataca exchange markets; restrictions on the export of the renminbi; and other risks and uncertainties detailed in Annual Reports on Form 10-K and Quarterly Reports on Form 10-Q filed by Las Vegas Sands Corp. with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date such statement is made. Las Vegas Sands Corp. assumes no obligation to update any forward-looking statements and information.
Las Vegas Sands Corp.
First Quarter 2026 Results
Non-GAAP Financial Measures
Within the company's first quarter 2026 press release, the company makes reference to certain non-GAAP financial measures that supplement the company's consolidated financial information prepared in accordance with GAAP including "adjusted net income (loss)," "adjusted earnings (loss) per diluted share" and "consolidated adjusted property EBITDA," which have directly comparable GAAP financial measures. The company believes these measures represent important internal measures of financial performance. Set forth in the financial schedules accompanying this press release and presentations included on the company's website are reconciliations of the non-GAAP financial measures to the most directly comparable GAAP financial measures. The non-GAAP financial measure disclosure by the company has limitations and should not be considered a substitute for, or superior to, the financial measures prepared in accordance with GAAP. The definitions of our non-GAAP financial measures and the specific reasons why the company's management believes the presentation of the non-GAAP financial measures provides useful information to investors regarding the company's financial condition, results of operations and cash flows are presented below.
The following non-GAAP financial measures are used by management, as well as industry analysts, to evaluate the company's operations and operating performance. These non-GAAP financial measures are presented so investors have the same financial data management uses in evaluating financial performance with the belief it will assist the investment community in properly assessing the underlying financial performance of the company on a year-over-year and a quarter sequential basis.
Adjusted net income (loss), which is a non-GAAP financial measure, is net income (loss) attributable to Las Vegas Sands excluding pre-opening expense, development expense, gain or loss on disposal or impairment of assets, gain or loss on modification or early retirement of debt, other income or expense and certain nonrecurring corporate expenses, net of income tax. Adjusted net income (loss) and adjusted earnings (loss) per diluted share are presented as supplemental disclosures as management believes they are (1) each widely used measures of performance by industry analysts and investors and (2) a principal basis for valuation of Integrated Resort companies, as these non-GAAP financial measures are considered by many as alternative measures on which to base expectations for future results. These measures also form the basis of certain internal management performance expectations.
Consolidated adjusted property EBITDA, which is a non-GAAP financial measure, is net income (loss) before stock-based compensation expense, corporate expense, pre-opening expense, development expense, depreciation and amortization, amortization of leasehold interests in land, gain or loss on disposal or impairment of assets, interest, other income or expense, gain or loss on modification or early retirement of debt and income taxes. Management utilizes consolidated adjusted property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation. Integrated Resort companies, including Las Vegas Sands, have historically reported adjusted property EBITDA as a supplemental performance measure to GAAP financial measures. In order to view the operations of their properties on a more stand-alone basis, Integrated Resort companies, including Las Vegas Sands, have historically excluded certain expenses that do not relate to the management of specific properties, such as pre-opening expense, development expense and corporate expense, from their adjusted property EBITDA calculations. Consolidated adjusted property EBITDA should not be interpreted as an alternative to income (loss) from operations (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with GAAP. The company has significant uses of cash flow, including capital expenditures, dividend payments, interest payments, debt principal repayments, share repurchases and income tax payments, which are not reflected in consolidated adjusted property EBITDA. Not all companies calculate adjusted property EBITDA in the same manner. As a result, consolidated adjusted property EBITDA as presented by Las Vegas Sands may not be directly comparable to similarly titled measures presented by other companies.
Exhibit 1
Las Vegas Sands Corp. and Subsidiaries
Condensed Consolidated Statements of Operations
(In millions, except per share data)
(Unaudited)
Three Months Ended
March 31,
2026
2025
Revenues:
Casino
$ 2,739
$ 2,127
Rooms
377
324
Food and beverage
176
141
Mall
204
186
Convention, retail and other
89
84
Net revenues
3,585
2,862
Operating expenses:
Resort operations
2,167
1,723
Corporate
83
73
Pre-opening
4
4
Development
41
69
Depreciation and amortization
357
362
Amortization of leasehold interests in land
21
15
Loss on disposal or impairment of assets
8
7
2,681
2,253
Operating income
904
609
Other income (expense):
Interest income
35
42
Interest expense, net of amounts capitalized
(188)
(174)
Other expense
(3)
(1)
Loss on modification or early retirement of debt
—
(5)
Income before income taxes
748
471
Income tax expense
(107)
(63)
Net income
641
408
Net income attributable to noncontrolling interests
(74)
(56)
Net income attributable to Las Vegas Sands Corp.
$ 567
$ 352
Earnings per share:
Basic
$ 0.85
$ 0.49
Diluted
$ 0.85
$ 0.49
Weighted average shares outstanding:
Basic
669
712
Diluted
671
713
Exhibit 2
Las Vegas Sands Corp. and Subsidiaries
Net Revenues and Adjusted Property EBITDA
(In millions)
(Unaudited)
Three Months Ended
March 31,
2026
2025
Net Revenues
The Venetian Macao
$ 710
$ 638
The Londoner Macao
754
529
The Parisian Macao
229
227
The Plaza Macao and Four Seasons Macao
290
208
Sands Macao
93
75
Ferry Operations and Other
38
32
Macao Operations
2,114
1,709
Marina Bay Sands
1,487
1,163
Intercompany Royalties
87
61
Intersegment Eliminations(1)
(103)
(71)
$ 3,585
$ 2,862
Adjusted Property EBITDA
The Venetian Macao
$ 238
$ 225
The Londoner Macao
223
153
The Parisian Macao
46
66
The Plaza Macao and Four Seasons Macao
114
74
Sands Macao
9
10
Ferry Operations and Other
3
7
Macao Operations
633
535
Marina Bay Sands
788
605
$ 1,421
$ 1,140
Adjusted Property EBITDA as a Percentage of Net Revenues
The Venetian Macao
33.5 %
35.3 %
The Londoner Macao
29.6 %
28.9 %
The Parisian Macao
20.1 %
29.1 %
The Plaza Macao and Four Seasons Macao
39.3 %
35.6 %
Sands Macao
9.7 %
13.3 %
Ferry Operations and Other
7.9 %
21.9 %
Macao Operations
29.9 %
31.3 %
Marina Bay Sands
53.0 %
52.0 %
Total
39.6 %
39.8 %
____________________
(1)
Intersegment eliminations include royalties and other intercompany services.
Exhibit 3
Las Vegas Sands Corp. and Subsidiaries
Non-GAAP Financial Measure Reconciliation
(In millions)
(Unaudited)
The following is a reconciliation of Net Income to Consolidated Adjusted Property EBITDA:
Three Months Ended
March 31
2026
2025
Net income
$ 641
$ 408
Add (deduct):
Income tax expense
107
63
Loss on modification or early retirement of debt
—
5
Other expense
3
1
Interest expense, net of amounts capitalized
188
174
Interest income
(35)
(42)
Loss on disposal or impairment of assets
8
7
Amortization of leasehold interests in land
21
15
Depreciation and amortization
357
362
Development expense
41
69
Pre-opening expense
4
4
Stock-based compensation(1)
3
1
Corporate expense
83
73
Consolidated Adjusted Property EBITDA
$ 1,421
$ 1,140
____________________
(1)
During the three months ended March 31, 2026 and 2025, the company recorded stock-based compensation expense of $24 million and $9 million, respectively, of which $21 million and $8 million, respectively, was included in corporate expense in the accompanying condensed consolidated statements of operations.
Exhibit 4
Las Vegas Sands Corp. and Subsidiaries
Non-GAAP Financial Measure Reconciliation
(In millions, except per share data)
(Unaudited)
The following is a reconciliation of Net Income Attributable to LVS to Adjusted Net Income:
Three Months Ended
March 31,
2026
2025
Net income attributable to LVS
$ 567
$ 352
Pre-opening expense
4
4
Development expense
41
69
Loss on disposal or impairment of assets
8
7
Other expense
3
1
Loss on modification or early retirement of debt
—
5
Income tax impact on net income adjustments(1)
(9)
(14)
Noncontrolling interest impact on net income adjustments
(2)
(3)
Adjusted net income attributable to LVS
$ 612
$ 421
The following is a reconciliation of Net Income per Diluted Share to Adjusted Earnings per Diluted Share:
Three Months Ended
March 31,
2026
2025
Per diluted share of common stock:
Net income attributable to LVS
$ 0.85
$ 0.49
Pre-opening expense
0.01
0.01
Development expense
0.06
0.10
Loss on disposal or impairment of assets
0.01
0.01
Loss on modification or early retirement of debt
—
0.01
Income tax impact on net income adjustments
(0.02)
(0.03)
Adjusted earnings per diluted share
$ 0.91
$ 0.59
Weighted average diluted shares outstanding
671
713
____________________
(1)
The income tax impact for each adjustment is derived by applying the effective tax rate, including current and deferred income tax expense, based upon the jurisdiction and the nature of the adjustment.
Exhibit 5
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(In millions)
(Unaudited)
The following reflects the impact on Net Revenues for hold-adjusted
win percentage:
Three Months Ended
March 31,
2026
2025
Macao Operations
$ (25)
$ 17
Marina Bay Sands(1)
7
8
$ (18)
$ 25
The following reflects the impact on Adjusted Property EBITDA for
hold-adjusted win percentage:
Three Months Ended
March 31,
2026
2025
Macao Operations
$ (15)
$ 10
Marina Bay Sands(1)
6
6
$ (9)
$ 16
____________________
Note:
These amounts represent the estimated impact of the hold adjustment that would have occurred had the company's Rolling Chip win percentage for the three months ended March 31, 2026 and 2025, equaled 3.3% for the Macao operations and 3.6% and 3.8%, respectively, for Marina Bay Sands. Included are the estimated commissions paid, discounts and other incentives rebated directly or indirectly to customers, gaming taxes and bad debt expense that would have been incurred or avoided.
(1)
Beginning with the three months ended September 30, 2025, we revised our expected hold-adjusted win percentage for Marina Bay Sands to be based on the theoretical hold percentage measured by technology-enabled gaming tables. Presentation of the prior year period has been revised to be consistent with that methodology.
Exhibit 6
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)
Three Months Ended
March 31,
2026
2025
Casino Statistics:
The Venetian Macao:
Table games win per unit per day(1)
$ 10,557
$ 8,834
Slot machine win per unit per day(2)
$ 481
$ 367
Average number of table games
638
668
Average number of slot machines
1,457
1,683
The Londoner Macao:
Table games win per unit per day(1)
$ 15,992
$ 10,437
Slot machine win per unit per day(2)
$ 630
$ 420
Average number of table games
498
495
Average number of slot machines
1,457
1,557
The Parisian Macao:
Table games win per unit per day(1)
$ 8,997
$ 8,205
Slot machine win per unit per day(2)
$ 368
$ 284
Average number of table games
241
248
Average number of slot machines
1,280
1,292
The Plaza Macao and Four Seasons Macao :
Table games win per unit per day(1)
$ 29,872
$ 21,638
Slot machine win per unit per day(2)
$ —
$ 107
Average number of table games
112
105
Average number of slot machines(3)
4
49
Sands Macao:
Table games win per unit per day(1)
$ 5,789
$ 6,130
Slot machine win per unit per day(2)
$ 267
$ 237
Average number of table games
144
112
Average number of slot machines
1,187
798
Marina Bay Sands:
Table games win per unit per day(1)
$ 24,834
$ 16,846
Slot machine win per unit per day(2)
$ 1,014
$ 931
Average number of table games
568
543
Average number of slot machines
2,982
2,999
____________________
(1)
Table games win per unit per day is shown before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis.
(2)
Slot machine win per unit per day is shown before deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis.
(3)
Slot machines were relocated to other properties during the three months ended March 31, 2026.
Exhibit 7
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)
Three Months Ended
The Venetian Macao
March 31,
(Dollars in millions)
2026
2025
Change
Revenues:
Casino
$ 556
$ 495
$ 61
Rooms
51
53
(2)
Food and beverage
19
15
4
Mall
66
60
6
Convention, retail and other
18
15
3
Net revenues
$ 710
$ 638
$ 72
Adjusted Property EBITDA
$ 238
$ 225
$ 13
EBITDA Margin %
33.5 %
35.3 %
(1.8)pts
Gaming Statistics
(Dollars in millions)
Rolling Chip volume
$ 957
$ 862
$ 95
Rolling Chip win %(1)
3.85 %
2.18 %
1.67 pts
Non-Rolling Chip drop
$ 2,584
$ 2,260
$ 324
Non-Rolling Chip win %
22.0 %
22.7 %
(0.7)pts
Slot handle
$ 1,541
$ 1,404
$ 137
Slot hold %
4.1 %
4.0 %
0.1 pts
Hotel Statistics
Occupancy %
98.9 %
99.8 %
(0.9)pts
Average daily room rate (ADR)
$ 202
$ 204
$ (2)
Revenue per available room (RevPAR)
$ 200
$ 204
$ (4)
____________________
(1)
This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)
Three Months Ended
The Londoner Macao
March 31,
(Dollars in millions)
2026
2025
Change
Revenues:
Casino
$ 584
$ 402
$ 182
Rooms
104
73
31
Food and beverage
34
24
10
Mall
25
21
4
Convention, retail and other
7
9
(2)
Net revenues
$ 754
$ 529
$ 225
Adjusted Property EBITDA
$ 223
$ 153
$ 70
EBITDA Margin %
29.6 %
28.9 %
0.7 pts
Gaming Statistics
(Dollars in millions)
Rolling Chip volume
$ 4,683
$ 1,712
$ 2,971
Rolling Chip win %(1)
3.31 %
3.56 %
(0.25)pts
Non-Rolling Chip drop
$ 2,435
$ 1,755
$ 680
Non-Rolling Chip win %
23.1 %
23.0 %
0.1 pts
Slot handle
$ 2,219
$ 1,668
$ 551
Slot hold %
3.7 %
3.5 %
0.2 pts
Hotel Statistics
Occupancy %
97.8 %
98.1 %
(0.3)pts
Average daily room rate (ADR)
$ 271
$ 291
$ (20)
Revenue per available room (RevPAR)
$ 265
$ 286
$ (21)
____________________
(1)
This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)
Three Months Ended
The Parisian Macao
March 31,
(Dollars in millions)
2026
2025
Change
Revenues:
Casino
$ 176
$ 173
$ 3
Rooms
33
35
(2)
Food and beverage
14
12
2
Mall
4
5
(1)
Convention, retail and other
2
2
—
Net revenues
$ 229
$ 227
$ 2
Adjusted Property EBITDA
$ 46
$ 66
$ (20)
EBITDA Margin %
20.1 %
29.1 %
(9.0)pts
Gaming Statistics
(Dollars in millions)
Rolling Chip volume
$ 1,348
$ 709
$ 639
Rolling Chip win %(1)
1.11 %
4.25 %
(3.14)pts
Non-Rolling Chip drop
$ 886
$ 728
$ 158
Non-Rolling Chip win %
20.3 %
21.0 %
(0.7)pts
Slot handle
$ 1,143
$ 889
$ 254
Slot hold %
3.7 %
3.7 %
— pts
Hotel Statistics
Occupancy %
98.7 %
99.8 %
(1.1)pts
Average daily room rate (ADR)
$ 148
$ 154
$ (6)
Revenue per available room (RevPAR)
$ 146
$ 154
$ (8)
____________________
(1)
This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)
Three Months Ended
The Plaza Macao and Four Seasons Macao
March 31,
(Dollars in millions)
2026
2025
Change
Revenues:
Casino
$ 212
$ 132
$ 80
Rooms
30
29
1
Food and beverage
7
7
—
Mall
40
39
1
Convention, retail and other
1
1
—
Net revenues
$ 290
$ 208
$ 82
Adjusted Property EBITDA
$ 114
$ 74
$ 40
EBITDA Margin %
39.3 %
35.6 %
3.7 pts
Gaming Statistics
(Dollars in millions)
Rolling Chip volume
$ 2,195
$ 2,132
$ 63
Rolling Chip win %(1)
5.54 %
2.40 %
3.14 pts
Non-Rolling Chip drop
$ 881
$ 686
$ 195
Non-Rolling Chip win %
20.3 %
22.2 %
(1.9)pts
Slot handle
$ —
$ 21
$ (21)
Slot hold %
— %
2.2 %
(2.2)pts
Hotel Statistics
Occupancy %
94.9 %
97.2 %
(2.3)pts
Average daily room rate (ADR)
$ 520
$ 502
$ 18
Revenue per available room (RevPAR)
$ 493
$ 488
$ 5
____________________
(1)
This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)
Three Months Ended
Sands Macao
March 31,
(Dollars in millions)
2026
2025
Change
Revenues:
Casino
$ 85
$ 68
$ 17
Rooms
4
5
(1)
Food and beverage
3
2
1
Convention, retail and other
1
—
1
Net revenues
$ 93
$ 75
$ 18
Adjusted Property EBITDA
$ 9
$ 10
$ (1)
EBITDA Margin %
9.7 %
13.3 %
(3.6)pts
Gaming Statistics
(Dollars in millions)
Rolling Chip volume
$ 29
$ 59
$ (30)
Rolling Chip win %(1)
3.63 %
4.23 %
(0.60)pts
Non-Rolling Chip drop
$ 531
$ 380
$ 151
Non-Rolling Chip win %
14.0 %
15.6 %
(1.6)pts
Slot handle
$ 1,419
$ 582
$ 837
Slot hold %
2.0 %
2.9 %
(0.9)pts
Hotel Statistics
Occupancy %
99.0 %
98.8 %
0.2 pts
Average daily room rate (ADR)
$ 163
$ 174
$ (11)
Revenue per available room (RevPAR)
$ 161
$ 172
$ (11)
____________________
(1)
This compares to our expected Rolling Chip win percentage of 3.3% (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data
(Unaudited)
Three Months Ended
Marina Bay Sands
March 31,
(Dollars in millions)
2026
2025
Change
Revenues:
Casino
$ 1,126
$ 857
$ 269
Rooms
155
129
26
Food and beverage
99
81
18
Mall
69
62
7
Convention, retail and other
38
34
4
Net revenues
$ 1,487
$ 1,163
$ 324
Adjusted Property EBITDA
$ 788
$ 605
$ 183
EBITDA Margin %
53.0 %
52.0 %
1.0 pts
Gaming Statistics
(Dollars in millions)
Rolling Chip volume
$ 17,965
$ 8,028
$ 9,937
Rolling Chip win %(1)
3.56 %
3.70 %
(0.14)pts
Non-Rolling Chip drop
$ 2,925
$ 2,304
$ 621
Non-Rolling Chip win %
21.5 %
22.8 %
(1.3)pts
Slot handle
$ 6,613
$ 5,812
$ 801
Slot hold %
4.1 %
4.3 %
(0.2)pts
Hotel Statistics
Occupancy %
95.7 %
95.6 %
0.1 pts
Average daily room rate (ADR)
$ 1,006
$ 925
$ 81
Revenue per available room (RevPAR)
$ 963
$ 884
$ 79
____________________
(1)
This compares to our theoretical Rolling Chip win percentage of 3.6% and 3.8% for the three months ended March 31, 2026 and 2025, respectively (calculated before discounts, commissions, deferring revenue associated with the company's loyalty programs and allocating casino revenues related to goods and services provided to patrons on a complimentary basis).
Beginning with the three months ended September 30, 2025, we revised our expected hold-adjusted win percentage for Marina Bay Sands to be based on the theoretical hold percentage measured by technology-enabled gaming tables.
Las Vegas Sands Corp. and Subsidiaries
Supplemental Data - Asian Retail Mall Operations
(Unaudited)
For the Three Months Ended March 31, 2026
TTM
March 31,
2026
(Dollars in millions except per
square foot data)
Gross
Revenue(1)
Operating
Profit
Operating
Profit
Margin
Gross
Leasable
Area (sq. ft.)
Occupancy %
at End
of Period
Tenant Sales
Per Sq. Ft.(2)
Shoppes at Venetian
$ 66
$ 57
86.4 %
829,874
89.1 %
$ 2,137
Shoppes at Four Seasons
Luxury Retail
30
28
93.3 %
163,929
100.0 %
5,658
Other Stores
10
8
80.0 %
91,388
84.5 %
2,077
40
36
90.0 %
255,317
94.4 %
4,606
Shoppes at Londoner
25
22
88.0 %
518,122
78.0 %
1,765
Shoppes at Parisian
4
2
50.0 %
253,806
72.4 %
430
Total Cotai Strip in Macao
135
117
86.7 %
1,857,119
84.4 %
2,282
The Shoppes at Marina Bay Sands
69
62
89.9 %
620,562
96.6 %
3,068
Total
$ 204
$ 179
87.7 %
2,477,681
87.5 %
$ 2,512
____________________
Note:
This table excludes the results of our retail outlets at Sands Macao.
(1)
Gross revenue figures are net of intersegment revenue eliminations.
(2)
Tenant sales per square foot reflect sales from tenants only after the tenant has been open for a period of 12 months.
Fully supporting Macao SAR government's directives on sustainable community development with new initiatives
, /PRNewswire/ -- Sands China announced its new Community Revitalization Programme 2.0 for Rua das Estalagens Wednesday at a press conference at The Londoner® Macao. This second edition of the programme is presenting two related initiatives. Firstly, through the launch of Sands China's Entrepreneurship Recruitment Programme 2.0 for Rua das Estalagens, the company continues to demonstrate its unwavering support for the Macao SAR government's directive on promoting and fostering the city's economic diversification. The initiative seeks to recruit a new batch of local SMEs to establish businesses on Rua das Estalagens, re-energising the district's economic vitality. Secondly, the inaugural Shop Rebranding Programme aims to embrace the company's business philosophy of supporting local SMEs by empowering businesses already on the street to innovate, strengthen their brands, and enhance their operational capability. Centred on the principle of "integrating the old with the new, bridging the past into future," this new edition of the Community Revitalization Programme strives for the sustainable development of Rua das Estalagens by injecting fresh energy into this historic street of distinctive cultural value while rekindling its past vibrancy and charm.
Sands China announced its new Community Revitalization Programme 2.0 for Rua das Estalagens Wednesday, continuing to demonstrate its unwavering support for the Macao SAR government’s directive on promoting and fostering the city’s economic diversification. The initiative seeks to recruit a new batch of local SMEs to establish businesses on Rua das Estalagens, re-energising the street’s economic vitality. At the same time, the new Shop Rebranding Programme further leverages the company’s business philosophy of supporting local SMEs, empowering existing businesses on Rua das Estalagens to innovate and upgrade, thereby enhancing operational capability.
At Wednesday’s press conference, representatives from four distinguished businesses from the first Community Revitalization Programme for Rua das Estalagens share their experiences of starting a business on Rua das Estalagens.
Officiating guests gather at Wednesday’s press conference at The Londoner Macao.
Officiating guests attend the press conference for Sands China’s “Community Revitalization Programme 2.0 for Rua das Estalagens,” at The Londoner Macao Wednesday. The second edition of the programme continues Sands China’s support of the Macao SAR government’s policy of promoting and facilitating the diversification of the economy. It is recruiting local SMEs to set up business on Rua das Estalagens to revitalise the street’s economy, as well as empower existing businesses on Rua das Estalagens to innovate and upgrade, thereby enhancing their business dynamism. Since the Macao SAR government launched its revitalisation plan in 2023, Sands China has invested resources, integrated innovative ideas, and collaborated across sectors to promote the long-term development of the city's historic districts. In April 2024, the company launched the first-of-its-kind Entrepreneurship Recruitment Programme for Rua das Estalagens to an overwhelming response. Seven enterprises were selected from 128 applications, encompassing cultural and creative retail, food and beverage specialities, and other diversified businesses. Over the past two years, this initiative has brought a refreshing vibe into the historic street, thrusting the district into the public spotlight.
In operation for two years now, the Community Revitalization Programme for Rua das Estalagens has helped shops gain a reputation, with some becoming viral hotspots — breathing new life into the entire district. To extend the effectiveness of the programme, Sands China is now launching the Entrepreneurship Recruitment Programme 2.0 for Rua das Estalagens. With the principle of "integrating the old with the new," the initiative encourages Macao entrepreneurs to submit business proposals that align with the street's revitalisation strategy, further boosting the district's economic strength. Applicants must commit to a self-invested initial operating capital of no less than MOP 300,000. Selected applications can receive subsidies equivalent to one to two times the amount of the self-invested capital, with a capped amount of MOP 1 million per applicant. A judging panel will assess the subsidy amount based on a comprehensive evaluation of factors, such as the creativity and market potential of the submitted proposal, and the experience of the operating team.
Meanwhile, the inaugural Shop Rebranding Programme empowers shops currently operating on Rua das Estalagens to enhance their brand appeal and elevate their operational capability, under the principle of "bridging the past into future." Applicants need to commit to a minimum self-invested capital of MOP 50,000. Selected applications can receive subsidies equivalent to one to three times the amount of the self-invested capital, capped at MOP 500,000 per applicant. The programme encompasses brand image innovation, product packaging, and storefront beautification, all designed to bolster the market competitiveness and vibrancy of the street's existing stores.
Speaking at the press conference, Yau Yun Wah, director of the Economic and Technological Development Bureau of the Macao SAR government, said: "Launched in 2024, the first edition of the Entrepreneurship Recruitment Programme 2.0 for Rua das Estalagens not only captured the attention of local young entrepreneurs, but also successfully helped put a series of creative business plans into action. This encouraging result has infused Rua das Estalagens with new commercial vision and vitality. Meanwhile, the inaugural Shop Rebranding Programme under the company's Community Revitalization Programme 2.0 for Rua das Estalagens aims to empower existing shops to strengthen their brands through upgrades and transformation, thereby enhancing their competitiveness. These initiatives are highly aligned with the Macao SAR government's vision of supporting the high-standard development of local SMEs and boosting community economic development. SMEs are the cornerstone of Macao's economic development, and supporting their growth has always been a policy priority for the SAR government. Beyond government support, it is crucial that enterprises actively leverage the spirit of creativity, while all sectors of society participate and promote this vision. The Community Revitalization Programme for Rua das Estalagens has exemplified the success that stems from such cross-sector collaboration. We hope that the community will continue to unite with the SAR government to jointly drive the sustainable development of Macao's community economy."
Dr. Wilfred Wong, executive vice chairman of Sands China Ltd., said: "Rua das Estalagens stands as a pivotal testament to the history and development of Macao, embodying profound cultural value and memories of a past economy. The first phase of Sands China's Entrepreneurship Recruitment Programme for Rua das Estalagens attracted a group of young entrepreneurs to devote themselves to the future development of the street, fully demonstrating the strength, perseverance, and dedication of Macao's new generation. Building upon this achievement, we remain steadfast in our commitment to growing alongside the Macao community with the launch of the Community Revitalization Programme 2.0 for Rua das Estalagens. This initiative seeks to recruit a new cohort of SMEs to start businesses on the historic street, providing a platform for Macao entrepreneurs to flourish while further re-energising the district's cultural, tourism, and economic vitality. Additionally, through our inaugural Shop Rebranding Programme, we aim to help the street's existing businesses optimise and upgrade their brands, ensuring the sustainable development of Macao's revitalised districts.
"True to our business philosophy of growing alongside SMEs, we are dedicated to uniting the strengths of the government, business sectors and the community. Our goal is to preserve the historical and cultural heritage of Rua das Estalagens while reinvigorating the street's commercial growth, thereby collectively contributing to Macao's economic diversification and community development. We are grateful to the various SAR government departments, public sector entities, the banking sector, community associations, and the businesses on Rua das Estalagens for their unwavering support of this revitalisation programme. Their backing represents a collective effort to empower local SMEs and revive the cultural and tourism charm of the area, showcasing the vitality of Macao's community tourism."
Joao Ma, vice president of the board of directors of the Macao Chamber of Commerce, said: "Looking back to 2024, Sands China launched the inaugural Entrepreneurship Recruitment Programme for Rua das Estalagens under the philosophy of growing with SMEs. The programme successfully attracted entrepreneurs to set up businesses in the historic district, bringing tangible changes to the street. The newly launched Community Revitalization Programme 2.0 for Rua das Estalagens not only continues to recruit new entrepreneurship proposals, but is also introducing the new Shop Rebranding Programme, encouraging existing merchants to enhance their competitiveness and respond proactively to changing market needs. This represents a deeper and more concrete implementation of the concept of 'integrating the old with the new.'
"We are delighted to once again serve as a supporting organisation, working alongside Sands China to support local entrepreneurs and SMEs in taking opportunities and contributing to the growth of the community economy. SMEs are a vital pillar of Macao's economy, and the entrepreneurial spirit is a driving force for social progress. The Macao Chamber of Commerce will continue to play its role as a bridge, supporting greater numbers of reliable enterprises and promoting diversified development of community economies. We firmly believe that through the collective efforts of the government, enterprises, and chambers of commerce, Macao's traditional commercial districts will not merely remain historic streets, but will evolve into exemplary districts that showcase the city's innovative vitality and rich cultural heritage."
Representatives of the enterprises selected for the first edition of the Entrepreneurship Recruitment Programme for Rua das Estalagens attended the press conference Wednesday to share their entrepreneurial journeys, insights, and operational experiences. They noted that through the collective efforts of Sands China and various sectors of society, the programme has successfully helped them establish businesses on Rua das Estalagens and provided strong support for their steady growth. Additionally, Sands China has invested its resources to help shops on the street achieve sustainable development across multiple areas. The representatives expressed their enthusiasm for the new set of entrepreneurs soon to join the district, whose presence will inject new elements into the area and help build a robust operating environment.
A series of free events is set to launch to support the new round of the Community Revitalization Programme, including:
Briefing Session (May 8): A representative will introduce the two initiatives in detail, with government officials and public utility representatives invited to share essential information on starting a business; SME Training Courses (May 14): Titled "Macao SMEs: Effective Business Plan and Marketing Strategy" and "Macao SMEs: From Transformation of Traditions to Startup Innovation," these two sessions aim to help Macao enterprises enhance their marketing writing, operational knowledge, and market insights, equipping them with the necessary knowledge for the initiative; Rua das Estalagens Open Day (May 15 and 17, June 12 and 14): Interested parties are welcome to join these sessions to inspect the district and shop conditions, prior to embarking on their entrepreneurial journeys. Sands China has long been committed to providing a platform for Macao's SMEs to grow. Beyond providing entrepreneurship and rebranding subsidies, the Community Revitalization Programme for Rua das Estalagens has offered a range of practical support, such as inviting selected enterprises to participate in the company's large-scale events and activities. For two consecutive years, Sands China has hosted a food fest for the programme's inaugural cohort. These food festivals, held at the back-of-house area of The Venetian® Macao and The Londoner® Macao respectively, have helped participating shops promote their brands and increase visibility, drawing 11,000 Sands China team members across both editions.
Furthermore, for two consecutive years, the company has distributed discount vouchers of these selected enterprises to participants of the Sands China Macao International 10K, encouraging runners to visit Rua das Estalagens. The company has also invited selected enterprises to set up booths at events such as the Sands Shopping Carnival, Macao's largest sales event, allowing local SMEs to reach beyond their immediate neighbourhoods and engage with a broader audience of residents and tourists, thereby enhancing their brand influence and market competitiveness.
The Entrepreneurship Recruitment Programme 2.0 for Rua das Estalagens is organised by Sands China Ltd. and co-organised by the Macao Chamber of Commerce. The Secretariat for Economy and Finance of the Macao SAR government is the programme's advisory body, with the following serving as supporting units: Economic and Technological Development Bureau, Macao Government Tourism Office, Commerce and Investment Promotion Institute, Cultural Affairs Bureau, Municipal Affairs Bureau, General Union of Neighbourhood Associations of Macao, Macau Artist Society, Companhia de Electricidade de Macau - CEM, S.A. (CEM), The Macao Water Supply Company Limited, Bank of China Macau Branch, Industrial and Commercial Bank of China (Macau), and Banco Nacional Ultramarino (BNU). The programme operates under Sands China's F.I.T. local SME support programme and the Sands Resorts Incubation Center.
Guests of honour at the press conference were Sun Yaohua, director of the Economic Affairs Department of the Liaison Office of the Central People's Government in the Macao SAR; Yau Yun Wah; Maria Helena de Senna Fernandes, director of the Macao Government Tourism Office; Mak Kim Meng, acting chairman of the Administration Committee on Municipal Affairs of the Municipal Affairs Bureau; Christy Mai, adviser to the Office of the Secretary for Economy and Finance; Sou Kin Meng, head of the department of Cultural Heritage of the Cultural Affairs Bureau; Joao Ma; Ng Siu Lai, president of the General Union of Neighbourhood Associations of Macau; Ip Sio Kai, chairman of The Macau Association of Banks; Nacky Kuan, executive director of The Macao Water Supply Company Limited; Carlos Cid Álvares, chief executive officer of BNU Macau; Huang Xianjun, deputy chief executive officer of ICBC Macau; Xu Zhiyu, managing director of Bank of China Macau Branch; Lok Hei, president of the Macau Artists Society; Cecilia Nip, director of the CEM Regulatory Affairs and Corporate Communications Office; Dr. Wong; Grant Chum, chief executive officer and executive director of Sands China Ltd.; and Dave Sun, executive vice president and chief financial officer of Sands China Ltd. and managing director of Venetian Macau Limited.
Interested individuals can visit https://tinyurl.com/RuadasEstalagens2026 or scan the QR code below to view details and register for the Entrepreneurship Recruitment Programme 2.0 for Rua das Estalagens and its relevant events. The application period is open now and will close at 5 p.m. on June 30.
###
About Sands China Ltd.
Sands China Ltd. (Sands China or the Company) is incorporated in the Cayman Islands with limited liability and is listed on The Stock Exchange of Hong Kong Limited (HKEx: 1928). Sands China is the largest operator of integrated resorts in Macao. The Company's integrated resorts on the Cotai Strip comprise The Venetian® Macao, The Plaza® Macao, The Parisian® Macao and The Londoner® Macao. The Company also owns and operates Sands® Macao on the Macao peninsula. The Company's portfolio features a diversified mix of leisure and business attractions and transportation operations, including large meeting and convention facilities; a wide range of restaurants; shopping malls; world-class entertainment at The Venetian Arena, The Londoner Arena, The Venetian Theatre, The Parisian Theatre, The Londoner Theatre and Sands Theatre; and a high-speed Cotai Water Jet ferry service between Hong Kong and Macao. The Company's Cotai Strip portfolio has the goal of contributing to Macao's transformation into a world centre of tourism and leisure. Sands China is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS).
For more information, please visit www.sandschina.com.
Subsidiary Sands China Ltd. repeats on the Dow Jones Best-in-Class World, Asia Pacific indices.
, /PRNewswire/ -- Las Vegas Sands (NYSE: LVS) has been recognized on the Dow Jones Best-in-Class World and North America 2026 indices, maintaining its position on both lists since 2020. Sands China Ltd., the company's Asian subsidiary, was named to the Dow Jones Best-in-Class World and Asia Pacific 2026 indices, continuing its inclusion on both lists since 2022.
Out of 16 companies invited to participate in the Casino and Gaming category, Sands and Sands China are the only two companies included on the Dow Jones Best-in-Class World index this year. Sands is the only company in the Casino and Gaming category listed on the North America index, and Sands China is one of only two companies in the Casino and Gaming category listed on the Asia Pacific index.
The Dow Jones Best-in-Class World Index comprises global sustainability leaders as identified by S&P Global through the Corporate Sustainability Assessment (CSA). It represents the top 10% of the largest 2,500 companies in the S&P Global Broad Market Index (BMI) based on long-term economic, environmental and social criteria. The Dow Jones Best-in-Class North America and Asia Pacific indices represent the top 20% of the 600 largest North American companies and the top 20% of the 600 largest companies in the Asia-Pacific developed region in the S&P Global BMI based on the same criteria.
"Our continued inclusion among this prestigious group of companies underscores our commitment to advancing a robust and disciplined environmental, social and governance program that is embedded with rigor, accountability and transparency," Katarina Tesarova, senior vice president and chief sustainability officer, said. "Our placements also demonstrate the ESG leadership position we hold in the hospitality and gaming industry, which is driven by our People, Communities and Planet corporate responsibility pillars."
Under the People pillar of its corporate responsibility program, Sands surpassed its 2021-2025 ambition of investing $200 million in workforce development programs, with more than $270 million spent at the end of 2025. Sands also exceeded its Communities pillar target of contributing 250,000 Team Member volunteer hours between 2021-2025, with more than 290,000 hours amassed by the close of 2025.
In out-performing its 2021-2025 Planet pillar ambition, Sands reduced its scope 1 and 2 emissions by 54% at the end 2025 from a 2018 base year, exceeding both its Science Based Targets initiative-validated 17.5% reduction target as well as its 1.5°C-aligned 30% reduction target.
Sands has leveraged the CSA along with a number of external benchmarks and industry standards to shape its corporate responsibility programs and targets, which helped the company gain recognition on the Dow Jones Best-in-Class indices as well as other corporate responsibility rankings. Sands also was included on Fortune's World's Most Admired Companies 2026 list, Newsweek's 2026 America's Most Responsible Companies and 2026 America's Greenest Companies lists, and CDP's 2025 A-List for Climate Change.
The Dow Jones Best-in-Class index family, including the Dow Jones Best-in-Class World Index (DJ BIC World), was originally launched in 1999 as the pioneering series of global sustainability best-in-class benchmarks available in the market and is comprised of global, regional and country benchmarks. The S&P Global CSA covers 12,000 companies globally and is an annual evaluation of corporate sustainability practices. It benchmarks performance on a wide range of industry-specific economic, environmental, and social criteria that are relevant to the growing number of sustainability-focused investors and expected to be financially relevant to corporate success.
To learn more about Sands' ESG initiatives, read its latest ESG report here: https://www.sands.com/resources/reports/.
About Sands (NYSE: LVS)
Sands is the leading global developer and operator of integrated resorts. The company's iconic properties drive valuable leisure and business tourism and deliver significant economic benefits, sustained job creation, financial opportunities for local businesses and community investment to help make its host regions ideal places to live, work and visit.
Sands' portfolio of properties includes Marina Bay Sands® in Singapore and The Venetian® Macao, The Londoner Macao®, The Parisian® Macao, The Plaza® Macao and Four Seasons® Hotel Macao, and Sands® Macao in Macao SAR, China, through majority ownership in Sands China Ltd.
Dedicated to being a leader in corporate responsibility, Sands is anchored by the core tenets of serving people, communities and the planet. The company's ESG leadership has led to inclusion on the Dow Jones Best-in-Class Indices for World and North America, as well as Fortune's list of the World's Most Admired Companies. To learn more, visit www.sands.com.
Driving the development of Macao as World Centre of Tourism and Leisure through integration, innovation, and inclusion
, /PRNewswire/ -- At Tuesday's opening ceremony of G2E Asia 2026, the annual trade show and conference for the Asian gaming industry, Grant Chum, chief executive officer and executive director of Sands China Ltd., delivered the keynote address to 200 industry leaders and tourism stakeholders from across the region at The Venetian® Macao. The keynote shed light on insights to Macao's integrated tourism development and pathways to its citywide diversification.
At G2E Asia 2026 on Tuesday, Grant Chum, chief executive officer and executive director of Sands China Ltd., delivers a keynote address to 200 industry leaders and tourism stakeholders from across the region. The keynote shed light on insights to Macao’s integrated tourism development and pathways to its citywide diversification.
At G2E Asia 2026 on Tuesday, Grant Chum, chief executive officer and executive director of Sands China Ltd., delivers a keynote address to 200 industry leaders and tourism stakeholders from across the region. The keynote shed light on insights to Macao’s integrated tourism development and pathways to its citywide diversification.
Following his keynote address at G2E Asia 2026, Chum (centre) gathers with Bill Miller (left), president and CEO of the American Gaming Association, and J.B. Son (right), senior vice president of Reed Exhibitions, Asia Pacific. Themed "Evolving Together: Advancing Macao's Diversification Through Integration, Innovation, and Inclusion," the keynote speech outlined how Sands China's visionary integration, transformative innovation, and inclusive growth have collectively shaped a blueprint for Macao's sustainable development.
Such a forward-looking blueprint traces back to the far-sighted vision of Sheldon G. Adelson, the late founder of Las Vegas Sands Corp. Under his leadership, the group's first property in Macao, Sands® Macao, was launched in 2004; it was followed by the 2007 launch of The Venetian® Macao, the city's first large-scale integrated resort that merges retail, entertainment, hospitality, and MICE facilities. Ever since, Sands China has laid the foundation for the Cotai Strip, ushering in a new era for Macao's tourism industry.
To support Macao's economic diversification, Sands China has continuously invested in a holistic focus on hospitality, MICE, entertainment, and retail. Its 14,000-seat Venetian Arena, constantly staging large-scale concerts and performances by international superstars, has played a key role in positioning Macao more prominently on the global stage.
The company also operates over 1.6 million square feet of MICE facilities, instrumental in drawing world-class MICE events and a large flow of business visitors to Macao, extending visitors' stay, and further strengthening Macao's status as a leading business tourism destination in Asia. In addition, Sands China owns the city's largest retail offering, comprising nearly 780 world-renowned duty-free retail outlets, providing strong support for the development of Macao's retail sector.
As the pioneer of the integrated resort model in Macao, Sands China has remained steadfast in fostering the city's economic diversification for over 20 years and continues to hold strong confidence in its future development. With the leadership of the central and the Macao SAR governments, Macao's long-term political stability under the "One Country, Two Systems" framework has positioned the city as a safe, resilient operating environment for long-term investment, sustained development, and high-quality growth. Macao further benefits from strong organic demand – driven by its proximity to a population of nearly 90 million in the Greater Bay Area and its connectivity to key global markets. Together with tourism infrastructure developed by Sands China and industry peers over years, the synergy that has formed enables Macao to continuously attract diverse groups of tourists and effectively capture visitor demand.
Furthermore, Macao's supply advantage in having an unmatched critical mass of high-quality integrated resorts, together with government-backed infrastructure such as the Hong Kong–Zhuhai–Macao Bridge, have further enabled the scale and efficiency of Macao's tourism ecosystem and sustained its competitiveness.
Looking ahead, Chum underscored the growing importance of the "Event Economy" as a key driver of the next phase of Macao's diversification journey, with purposeful programming playing an increasingly strategic role in attracting international visitors and facilitating further economic diversification. The future focus for Sands China is on the curation of globally significant events to maximize impact and long-term value. Crucially, such events generate a broader spillover effect across the city's economy, benefitting a wider scope of industries.
Flagship entertainment and sports events are also identified as powerful brand amplifiers for the city. In particular, The NBA China Games in October 2025 marked a significant milestone. It generated approximately 3 billion online impressions on social media platforms across the Chinese mainland and significantly enhanced Macao's visibility within global sports and entertainment networks. Around the event, Sands China curated around 100 extended activities and initiatives, including NBA House, the Impact Week community event, fan engagement, and Macao's first NBA flagship store, ensuring the impact extended beyond the arena into the wider community.
The significance of sustainable diversification lies not only in tourism benefits, but also in creating meaningful and lasting contributions to the local community. By extending the synergy from large-scale events, Sands China has endeavoured to promote community care, bolstering volunteer service, fostering the development of Macao's arts and culture, empowering SMEs, and advancing community revitalization – ensuring tourism growth drives broader participation and shared benefits across society.
Sands China reaffirms its unwavering confidence in Macao's future and pledges to continue investing in high-quality non-gaming projects, working closely with the government, industry and Macao community to further facilitate the city's development as a World Centre of Tourism and Leisure.
About Sands China Ltd.
Sands China Ltd. (Sands China or the Company) is incorporated in the Cayman Islands with limited liability and is listed on The Stock Exchange of Hong Kong Limited (HKEx: 1928). Sands China is the largest operator of integrated resorts in Macao. The Company's integrated resorts on the Cotai Strip comprise The Venetian® Macao, The Plaza® Macao, The Parisian® Macao and The Londoner® Macao. The Company also owns and operates Sands® Macao on the Macao peninsula. The Company's portfolio features a diversified mix of leisure and business attractions and transportation operations, including large meeting and convention facilities; a wide range of restaurants; shopping malls; world-class entertainment at The Venetian Arena, The Londoner Arena, The Venetian Theatre, The Parisian Theatre, The Londoner Theatre and Sands Theatre; and a high-speed Cotai Water Jet ferry service between Hong Kong and Macao. The Company's Cotai Strip portfolio has the goal of contributing to Macao's transformation into a world centre of tourism and leisure. Sands China is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS).
For more information, please visit www.sandschina.com.
Media contacts:
Corporate Communications, Sands China Ltd.
Mabel Wu
Tel: +853 8118 2268
Email: [email protected]
Las Vegas Sands and Sands China will support the organization in advancing technology to convert food waste into useful products during its three-year membership in the exclusive program.
, /PRNewswire/ -- Las Vegas Sands (NYSE: LVS) and Sands China today announced that Macao nongovernmental organization Sustaincia has joined the Sands Cares Accelerator, a three-year membership program aimed at advancing nonprofits to deliver greater community impact. Sustaincia is committed to using technology and social affairs to encourage sustainable development.
The organization's strategic goal for its Sands Cares Accelerator membership is to perfect the use of advanced technology in converting food waste from bakery items, rice and cooking oil into useful products. Related to this goal, Sustaincia also will focus on establishing its community lab as a hub for technology innovation and research in food waste valorization, as well as leverage this circular framework to create opportunities for local entrepreneurs and scientists.
"Sands and Sands China are providing us with vital resources to realize our vision for improving food waste processes through advanced technology, while driving business and job prospects to further sustainable impact," Terence Lee, president of Sustaincia, said. "We believe the progress we make in our identified focus areas over the next three years in the Sands Cares Accelerator can have impact in Macao for years to come."
Sustaincia's approach centers on food waste valorization, the process of transforming discarded materials into valuable commodities, and establishing a vital, community-driven laboratory in Macao. Recognizing the enormous volume of food waste generated daily by integrated resorts and high-volume tourism, Sustaincia is building a comprehensive platform for participatory science and sustainable waste management.
The laboratory acts as a collaborative hub, bringing together partners and members from diverse academic and industrial backgrounds, including co-founder Dr. Bashir Saidu and Collab researchers Rana Elromh and Bryan Lee, to tackle challenges of the circular economy. Through this model, Sustaincia is transforming food waste into valuable, commercially viable products, creating an entirely new and inclusive industry that proves that Macao can be a leader in sustainability and environmental betterment.
Sustaincia is the second Macao nongovernmental organization to join the Sands Cares Accelerator, which helps fast-track nonprofit organizations on the tipping point of increasing community impact. Inspired by the entrepreneurial and philanthropic spirit of Sands' founder Sheldon G. Adelson, the program carries on his legacy of building successful businesses and giving back to communities by helping advance the capabilities of nonprofit organizations so they can better serve their missions.
During their three-year membership, members focus on building their capacity in a strategic area or enhancing a program offering. Sands serves as a catalyst and mentor for helping organizations achieve their goals via funding to support their identified focus area, facilitation to build and achieve plans, and guidance and consulting from the company.
"Beyond having a solid vision to improve food waste management in Macao, Sustaincia was a great selection for our program because of its alignment with our own sustainable food initiatives," Ron Reese, senior vice president of global communications and corporate affairs at Sands, said. "Another factor we look for is the ability of an organization to sustain their goal after they leave the Sands Cares Accelerator, and we believe Sustaincia has established a strong plan for long-term impact."
Sustaincia is the second member of the Sands Cares Accelerator in Macao. Other global members have included The LGBTQ+ Center of Las Vegas (graduate), Green Our Planet (graduate), Nevada Partnership for Homeless Youth (graduate), the Inspiring Children Foundation (graduate) and the Asian Community Development Council (current member) in Las Vegas; and The Food Bank Singapore (current member) and Art Outreach (graduate) in Singapore.
To learn more about the Sands Cares Accelerator, visit https://www.sands.com/responsibility/communities/#our-program-sands-cares.
About Sustaincia
Established in Macao in 2020, Sustaincia's mission is to create a community with opportunities for dialogue and exchange of ideas under the premises of economic development, social responsibility and environmental betterment. Sustaincia provides an online management platform for sustainable industry projects and activities spanning education, inspiration, connection, coordination and verification of sustainable efforts. Sustaincia also organizes events on green mobility and energy transitions, biotechnology exchange, global trends in technology and future career paths for young people. To explore our projects and join our mission, please visit the Community Laboratory section at sustaincia.org.
About Sands (NYSE: LVS)
Sands is the leading global developer and operator of integrated resorts. The company's iconic properties drive valuable leisure and business tourism and deliver significant economic benefits, sustained job creation, financial opportunities for local businesses and community investment to help make its host regions ideal places to live, work and visit.
Sands' portfolio of properties includes Marina Bay Sands® in Singapore and The Venetian® Macao, The Londoner Macao®, The Parisian® Macao, The Plaza® Macao and Four Seasons® Hotel Macao, and Sands® Macao in Macao SAR, China, through majority ownership in Sands China Ltd.
Dedicated to being a leader in corporate responsibility, Sands is anchored by the core tenets of serving people, communities and the planet. The company's ESG leadership has led to inclusion on the Dow Jones Best-in-Class Indices for World and North America, as well as Fortune's list of the World's Most Admired Companies. To learn more, visit www.sands.com.
Two factors often determine stock prices in the long run: earnings and interest rates. Investors can't control the latter, but they can focus on a company's earnings results every quarter.
The earnings figure itself is key, of course, but a beat or miss on the bottom line can sometimes be just as, if not more, important. Therefore, investors should consider paying close attention to these earnings surprises, as a big beat can help a stock climb and vice versa.
Now that we know how important earnings and earnings surprises are, it's time to show investors how to take advantage of these events to boost their returns by utilizing the Zacks Earnings ESP filter.
The Zacks Earnings ESP, ExplainedThe Zacks Earnings ESP, or Expected Surprise Prediction, aims to find earnings surprises by focusing on the most recent analyst revisions. The basic premise is that if an analyst reevaluates their earnings estimate ahead of an earnings release, it means they likely have new information that could possibly be more accurate.
With this in mind, the Expected Surprise Prediction compares the Most Accurate Estimate (being the most recent) against the overall Zacks Consensus Estimate. The percentage difference provides the ESP figure. The system also utilizes our core Zacks Rank to provide a stronger system for identifying stocks that might beat their next quarterly earnings estimate and possibly see the stock price climb.
In fact, when we combined a Zacks Rank #3 (Hold) or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time. Perhaps most importantly, using these parameters has helped produce 28.3% annual returns on average, according to our 10 year backtest.
Stocks with a #3 (Hold) ranking, which is most stocks covered at 60%, are expected to perform in-line with the broader market. But stocks that fall into the #2 (Buy) and #1 (Strong Buy) ranking, or the top 15% and top 5% of stocks, respectively, should outperform the market. Strong Buy stocks should outperform more than any other rank.
Should You Consider Lululemon?Now that we understand what the ESP is and how beneficial it can be, let's dive into a stock that currently fits the bill. Lululemon (LULU - Free Report) earns a #3 (Hold) right now and its Most Accurate Estimate sits at $1.70 a share, just 14 days from its upcoming earnings release on June 4, 2026.
By taking the percentage difference between the $1.70 Most Accurate Estimate and the $1.69 Zacks Consensus Estimate, Lululemon has an Earnings ESP of +0.47%. Investors should also know that LULU is one of a large group of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they've reported.
LULU is just one of a large group of Consumer Discretionary stocks with a positive ESP figure. Las Vegas Sands (LVS - Free Report) is another qualifying stock you may want to consider.
Las Vegas Sands is a Zacks Rank #3 (Hold) stock, and is getting ready to report earnings on July 22, 2026. LVS' Most Accurate Estimate sits at $0.79 a share 62 days from its next earnings release.
Las Vegas Sands' Earnings ESP figure currently stands at +0.90% after taking the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $0.78.
Because both stocks hold a positive Earnings ESP, LULU and LVS could potentially post earnings beats in their next reports.
Find Stocks to Buy or Sell Before They're ReportedUse the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they're reported for profitable earnings season trading. Check it out here >>
, /PRNewswire/ -- Las Vegas Sands (NYSE: LVS) will participate in the 42nd Annual Bernstein Strategic Decisions Conference in New York, NY on Wednesday, May 27, 2026.
Mr. Patrick Dumont, Chairman and Chief Executive Officer, will participate in a discussion which is scheduled to begin at approximately 4:30 p.m. Eastern Time.
A webcast of the discussion will be available at www.investor.sands.com.
About Sands (NYSE: LVS)
Sands is the leading global developer and operator of integrated resorts. The company's iconic properties drive valuable leisure and business tourism and deliver significant economic benefits, sustained job creation, financial opportunities for local businesses and community investment to help make its host regions ideal places to live, work and visit.
Sands' portfolio of properties includes Marina Bay Sands® in Singapore and The Venetian® Macao, The Londoner Macao®, The Parisian® Macao, The Plaza® Macao and Four Seasons® Hotel Macao, and Sands® Macao in Macao SAR, China, through majority ownership in Sands China Ltd.
Dedicated to being a leader in corporate responsibility, Sands is anchored by the core tenets of serving people, communities and the planet. The company's ESG leadership has led to inclusion on the Dow Jones Best-in-Class Indices for World and North America, as well as Fortune's list of the World's Most Admired Companies. To learn more, visit www.sands.com.
Earned Top 1% rankings in both Global and China editions
Distinguished as 'Industry Mover' in China edition for second consecutive year
Demonstrates the company's exceptional performance in ESG
, /PRNewswire/ -- Sands China Ltd. has once again been recognised by the S&P Global Sustainability Yearbook, earning Top 1% rankings in the Corporate Sustainability Assessment (CSA) scores of the 2026 yearbook's Global and China editions. The company also received the 'Industry Mover' distinction in the China edition for the second consecutive year, making it the only integrated tourism and leisure enterprise worldwide to earn any of these three accolades this year. These recognitions underscore Sands China's sustained international acclaim for its outstanding achievements in ESG (environmental, social and governance).
Chief Executive Officer and Executive Director of Sands China Ltd. Grant Chum (centre), Executive Vice President, General Counsel and Company Secretary Dylan Williams (sixth from left), Vice President of Sustainability and Environmental, Social and Governance Pranav Jampani (sixth from right), and other team members display the company’s certificates and trophies from the S&P Global Sustainability Yearbook 2025. Fourth consecutive Top 1% CSA score in yearbook's China edition
The S&P Global Sustainability Yearbook is regarded as one of the most prestigious publications for evaluating sustainability efforts in the business world. Assessments are based on a company's score in the CSA. For this year's China edition, S&P Global assessed nearly 1,800 companies from the Chinese mainland, Hong Kong and Macao, with 193 companies across 56 industries selected for the yearbook. Sands China is one of only 36 companies to rank in the Top 1% of CSA scores in the China edition, marking its fourth consecutive year to earn this accolade. The company was furthermore named the Industry Mover for its industry category for the second year, another significant recognition of its ESG efforts.
To become an Industry Mover, a company's CSA score must increase by more than 5 percent from the prior year, while also achieving outstanding results in its industry category. Sands China accomplished both, increasing its CSA score by more than 6 percent.
Third consecutive Top 1% CSA score in yearbook's Global edition
The Global edition of the yearbook assessed more than 9,200 companies worldwide, with 848 companies across 59 industries selected for the yearbook. Sands China is among only 71 companies with a Top 1% CSA score, marking its third straight year in the global leading position.
S&P Global's CSA is an evaluation of the sustainability practices and achievements of companies from around the world. To be included in the Global Sustainability Yearbook, a company must earn a CSA score that not only ranks within the top 15 percent of its industry by number, but also falls within 30% of the top score in the industry.
Grant Chum, chief executive officer and executive director of Sands China Ltd., said: "Sustainability is the cornerstone of corporate resilience and long-term development. Sands China is very honoured to be once again ranked in the Top 1% in both the Global and China editions of the S&P Global Sustainability Yearbook. These recognitions fully affirm our continued investment and achievements in innovation and long-term planning. As the company continues to enhance the guest experience, we have also proactively implemented sustainable operating strategies, striving to reduce environmental impact and generate positive social outcomes. We would like to extend our sincere gratitude to the Macao SAR government for their continuous guidance in leading Macao toward a sustainable future. We are also grateful to our community partners from various sectors and our 28,000 dedicated team members for their collaboration and support. Together, these concerted efforts have enabled us to achieve these remarkable international recognitions."
Sands China's commitment to exceptional ESG performance is exemplified in efforts like delivering 1.8 million hours of workforce training in 2025. The company also reduced its scope 1 and 2 emissions by 61% from a 2018 base year, exceeding both the 17.5% Science Based Targets initiative (SBTi)-validated and 1.5°C-aligned 30% reduction targets, in alignment with the Paris Agreement. Additionally, the company's volunteer team has engaged in more than 362,000 hours of community service since 2009, bringing positive impact to the community. Moreover, the company achieved its core ESG targets for the 2021-2025 reporting cycle – a phase that marked Sands China's evolution and upgrades, and its unwavering commitment to operational excellence and the creation of positive long-term social impact, even amidst market challenges.
Sands China executes its ESG efforts within the context of the People, Community, and Planet pillars of the company's corporate social responsibility platform. This holistic approach is brought to life through a variety of flagship initiatives such as the Sands ECO360 global sustainability programme, the Sands Cares corporate giving and community engagement programme, and the Sands China Academy team member professional development programme – all designed to carry out the company's social responsibility work in the community. By intertwining economic success with social responsibility, Sands China remains dedicated to uplifting the Macao community and fostering a thriving environment to live and work.
About Sands China Ltd.
Sands China Ltd. (Sands China or the Company) is incorporated in the Cayman Islands with limited liability and is listed on The Stock Exchange of Hong Kong Limited (HKEx: 1928). Sands China is the largest operator of integrated resorts in Macao. The Company's integrated resorts on the Cotai Strip comprise The Venetian® Macao, The Plaza® Macao, The Parisian® Macao and The Londoner® Macao. The Company also owns and operates Sands® Macao on the Macao peninsula. The Company's portfolio features a diversified mix of leisure and business attractions and transportation operations, including large meeting and convention facilities; a wide range of restaurants; shopping malls; world-class entertainment at The Venetian Arena, The Londoner Arena, The Venetian Theatre, The Parisian Theatre, The Londoner Theatre and Sands Theatre; and a high-speed Cotai Water Jet ferry service between Hong Kong and Macao. The Company's Cotai Strip portfolio has the goal of contributing to Macao's transformation into a world centre of tourism and leisure. Sands China is a subsidiary of global resort developer Las Vegas Sands Corp. (NYSE: LVS).
For more information, please visit www.sandschina.com.
Media contacts:
Corporate Communications, Sands China Ltd.
Mabel Wu
Tel: +853 8118 2268
Email: [email protected]
