Las Vegas Sands
Operates integrated casino resorts spanning hotels, retail, entertainment, and conventions in Macao and Singapore.
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Profile
Operates integrated resorts in Macao and Singapore, earning revenue from casino gaming, hotel rooms, retail malls, dining, entertainment, and conventions. The portfolio is concentrated in two regulated Asian markets, with Macao operated through majority-owned Sands China.
Operates integrated resorts in Macao and Singapore, combining casinos with luxury hotels, retail malls, dining, entertainment, and meeting and convention facilities. The Macao portfolio comprises The Venetian Macao, The Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Macao, and Sands Macao; Marina Bay Sands is the Singapore property.
Uses the scale of interconnected properties and extensive convention and entertainment venues to serve leisure and business travelers alongside mass-market, premium-mass, and VIP gaming customers. Revenue comes from gaming, hotel rooms, retail malls, food and beverage, conventions, and other resort activities.
Is expanding Marina Bay Sands with a hotel tower, arena, meeting space, and premium gaming areas. Macao operations sit within majority-owned Sands China and depend on a government concession, while Marina Bay Sands' casino requires a separate Singapore license.
Company facts
Key statistics
Year to date −30.9% · Average volume (30d) 5.1M
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Jul 30, 2026 | H.C. Wainwright | Downgrade | Neutral | |||
| Jul 30, 2026 | Argus Research | Downgrade | Buy | Hold | ||
| Jul 27, 2026 | Morgan Stanley | Reiterate | Equal Weight | $68 | $61 | |
| Jul 23, 2026 | Mizuho Securities | Target | $65 | $61 | ||
| Jul 23, 2026 | CBRE | Target | $72 | $62 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 22, 2026Q2 FY26 | $0.76 | $0.59 | −22.1% | $3.31B | $3.15B | −4.7% | +1.72% |
| Apr 22, 2026Q1 FY26 | $0.76 | $0.91 | +20.4% | $3.36B | $3.59B | +6.6% | −8.62% |
| Jan 28, 2026Q4 FY25 | $0.77 | $0.85 | +11.1% | $3.34B | $3.65B | +9.1% | −13.96% |
| Oct 22, 2025Q3 FY25 | $0.62 | $0.78 | +26.4% | $3.05B | $3.33B | +9.1% | +12.39% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $2.86B | $3.18B | $3.33B | $3.65B | $3.59B | $3.15B | |
| Gross profit | $1.42B | $1.64B | $1.66B | $1.77B | $1.75B | $1.81B | |
| Operating income | $620.0M | $800.0M | $794.0M | $875.0M | $916.0M | $618.0M | |
| Net income | $352.0M | $461.0M | $419.0M | $395.0M | $567.0M | $373.0M | |
| Diluted EPS | $0.49 | $0.66 | $0.61 | $0.58 | $0.85 | $0.53 | |
| Gross margin | 49.5% | 51.6% | 49.8% | 48.5% | 48.8% | 57.2% | |
| Operating margin | 21.7% | 25.2% | 23.8% | 24.0% | 25.6% | 19.6% |
Fiscal years (4-quarter sums)FY21 $4.23B · FY22 $4.11B · FY23 $10.37B · FY24 $11.30B · FY25 $13.02B
Revenue by product · Q2 FY26
Revenue by geography · Q2 FY26
Balance sheet, Jun 30, 2026Cash & short-term investments $3.38B · Total debt $15.26B · Total assets $19.91B · Shareholders' equity $581.0M
Dividends
Raised for 2 straight years — most recently to $0.30 from $0.25 in Feb 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 4, 2026 | Aug 4 | Aug 12 | $0.30 | |
| May 5, 2026 | May 5 | May 13 | $0.30 | |
| Feb 9, 2026 | Feb 9 | Feb 18 | $0.30 | raised from $0.25 |
| Nov 4, 2025 | Nov 4 | Nov 12 | $0.25 | |
| Aug 5, 2025 | Aug 5 | Aug 13 | $0.25 | |
| May 6, 2025 | May 6 | May 14 | $0.25 | |
| Feb 10, 2025 | Feb 10 | Feb 19 | $0.25 | raised from $0.20 |
| Nov 5, 2024 | Nov 5 | Nov 13 | $0.20 |
Ownership
Shares outstanding 647.70M · Float 292.14M · 45.1% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Miriam Adelson | 341.44M | 52.70% | 13D | Aug 11, 2026 |
| Capital Research Global Investors | 34.04M | 5.00% | 13G | Nov 13, 2025 |
| BlackRock, Inc. | 24.84M | 3.84% | 13F | Aug 7, 2026 |
| Vanguard Capital Management LLC | 19.45M | 3.00% | 13F | Aug 13, 2026 |
| Vanguard Portfolio Management LLC | 18.65M | 2.88% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Apr 27, 2026 | Charles D. Forman | director | −11,400 | $54.09 |
| Mar 17, 2026 | Patrick Dumont | director, officer: Chairman & CEO | −60,165 | $54.75 |
| Dec 16, 2025 | Miriam Adelson | 10 percent owner | −77,991 | $67.56 |
| Dec 17, 2025 | Robert G. Goldstein | director, officer: Chairman & CEO | −1,198,650 | $66.68 |
| Dec 16, 2025 | Robert G. Goldstein | director, officer: Chairman & CEO | −51,350 | $67.58 |
Peers
- MGM Resorts International
Macao concession peer at record 16.1% market share via MGM Macau and MGM Cotai.
- Wynn Resorts
Premium Macao concession peer: Wynn Palace on Cotai, Wynn Macau on Peninsula.
- Melco Resorts & Entertainment (ADR)
Macao concession peer with City of Dreams and Studio City on the Cotai Strip.
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Las Vegas Sands | $45.05 | +0.01% | $29.17B | 17.5 | 13.5 | 2.1 | −0.7% |
| MGM Resorts International | $42.20 | −0.13% | $10.64B | 25.6 | 25.7 | 0.6 | +1.1% |
| Wynn Resorts | $95.55 | +0.30% | $9.89B | 22.8 | 21.4 | 1.3 | +6.9% |
| Melco Resorts & Entertainment (ADR) | $5.32 | −0.09% | $2.07B | 8.9 | 10.7 | 0.4 | −5.7% |
| Median | 22.8 | 21.4 | 0.6 | +1.1% |