Welcome to our dedicated page for Las Vegas Sands news (Ticker: LVS), a resource for investors and traders seeking the latest updates and insights on Las Vegas Sands stock.
Las Vegas Sands Corp. (NYSE: LVS) is renowned as the world's largest operator of fully integrated resorts, which feature a unique blend of casino, hotel, entertainment, food and beverage, retail, and convention center operations. The company's prestigious properties include the Venetian Macao, Sands Macao, Londoner Macao, Four Seasons Hotel Macao, and Parisian Macao in Macao, along with the Marina Bay Sands resort in Singapore.
In 2022, Las Vegas Sands sold its iconic Venetian and Palazzo Las Vegas properties to Apollo and VICI, marking a strategic shift to focus its operations primarily in Asia. As a result, the company now generates all its EBITDA from its substantial casino operations in Asia.
Las Vegas Sands is not just a leader in luxury and entertainment but also in community engagement and corporate responsibility. The company's commitment to social causes is evident through initiatives like the Sands Cares Global Hygiene Kit Build, supporting Clean the World's mission to provide hygiene supplies to those in need. Additionally, Sands collaborates with various organizations to address youth homelessness, disaster relief, and educational equity.
The company’s financial condition remains robust, with a strategic focus on expanding its footprint and enhancing the appeal of its existing properties. For instance, Sands plans to unveil a fourth tower at Marina Bay Sands in Singapore by the end of 2028. Recent financial results reflect strong growth in both Macao and Singapore, driven by strategic investments in these regions.
Moreover, Las Vegas Sands places significant emphasis on fostering innovation and supporting local businesses. Initiatives like the Sands Innovation Challenge and Sands Resorts Incubation Centre in Macao are testament to the company's commitment to advancing technology and supporting small and medium enterprises (SMEs).
Environmental, social, and governance (ESG) leadership is a cornerstone of Las Vegas Sands' operations, earning it recognition on the Dow Jones Sustainability Indices for World and North America. The company’s efforts encompass promoting diversity, equity, and inclusion (DEI), particularly through partnerships with organizations like the Thurgood Marshall College Fund to advance opportunities for Black college students in the hospitality industry.
Las Vegas Sands continues to be a beacon of luxury, community support, and sustainable growth, ensuring that its regions remain great places to live, work, and visit.
Las Vegas Sands (NYSE: LVS) is set to announce its first-quarter 2023 financial results on April 19, 2023, after market close. The company will follow this with a conference call at approximately 1:30 p.m. Pacific Time to discuss these results. Investors can access a live webcast of the call through their investor relations page at www.investor.sands.com.
Las Vegas Sands is renowned for developing and operating integrated resorts, benefiting tourism and local economies. Its diverse portfolio includes significant properties like Marina Bay Sands in Singapore and several resorts in Macao, China.
Las Vegas Sands (NYSE: LVS) has published its 2022 ESG report, detailing significant progress towards its 2025 goals in workforce development, community support, and emissions reduction. By 2022, the company has invested $56 million in workforce initiatives, exceeding its original targets. Volunteer hours reached 192,330, surpassing the 150,000 goal. Additionally, Sands achieved a 50% reduction in greenhouse gas emissions from its 2018 baseline, positioning it well for its 17.5% target by 2025. The company received recognition on the Dow Jones Sustainability Indices and was acknowledged as one of America's Most Responsible Companies.
Las Vegas Sands Corp. (NYSE: LVS) reported its financial results for Q4 2022, revealing a net revenue of $1.12 billion, a 10.8% increase year-over-year. However, the company faced an operating loss of $166 million compared to $138 million the previous year. Despite ongoing travel restrictions impacting revenues, the recovery at Marina Bay Sands has been strong, with record mass gaming revenue. In Macao, the company received a new gaming concession, enhancing future growth potential. The full year 2022 net income reached $1.83 billion, impacted significantly by a $3.60 billion gain from the sale of Las Vegas assets.
Las Vegas Sands and Marina Bay Sands have launched a $1 million scholarship program aimed at fostering new talent in Singapore's hospitality sector through Sands Cares. Expected to benefit over 100 Singaporean students, the initiative will support those pursuing hospitality-related studies at six local institutes. This program, commencing in 2023, aligns with Sands' commitment to enhancing Singapore's tourism industry, anticipated to grow significantly post-pandemic. The scholarships aim to develop future leaders in hospitality, ultimately strengthening the region's position as a global travel hub.
Las Vegas Sands (NYSE: LVS) is set to release its fourth quarter 2022 financial results on January 25, 2023, after market close. The company will conduct a conference call to discuss the results at approximately 1:30 p.m. Pacific Time. A webcast of this call will be available at www.investor.sands.com. Sands is recognized as a leading developer and operator of Integrated Resorts that contribute significantly to tourism and local economies.
Las Vegas Sands (NYSE: LVS) plans to develop a multi-billion-dollar hospitality and casino project on Long Island, New York, following the New York State Gaming Commission's recent Request for Application. The company aims to acquire a long-term lease for the Nassau Veterans Memorial Coliseum site, securing control of up to 80 acres. The project is expected to generate substantial tax revenue and create thousands of jobs, while emphasizing community collaboration and sustainability. It will include luxury hotels, entertainment venues, and a casino occupying less than 10% of the total area.
Las Vegas Sands has unveiled its ambitious plan to cut carbon emissions by 17.5% by 2025 as part of its 2021 ESG Report. The strategy focuses on energy efficiency, renewable energy purchases, and reducing transportation emissions. Noteworthy initiatives include the Sands ECOTracker program and increasing electric vehicle charging stations. In 2021, Sands invested $4.3 million in energy initiatives and $62 million in sustainable services, earning recognition from top sustainability benchmarks, including the Dow Jones Sustainability Indices.
Las Vegas Sands has designated July as Plastic-Free July, focusing on the reduction of plastic waste and pollution. The company has implemented a five-point strategy including:
- Eliminate: Phasing out single-use plastics and using bamboo/wood alternatives.
- Reuse: Implementing reusable products across its resorts.
- Replace: Transitioning to recyclable materials.
- Recycle: Enhancing recycling efforts through training and audits.
- Research and Collaborate: Partnering with local suppliers and educational institutions.
This initiative is part of Sands' commitment to environmental sustainability.
Las Vegas Sands announced that Green Our Planet, a nonprofit focused on STEM education through school gardening, is achieving significant growth during its time in the Sands Cares Accelerator. Founded in 2013, the organization now serves 160,000 students across 16 states and aims to launch 250 more garden programs in the upcoming school year. Green Our Planet’s HydroHealth initiative, which connects workplace hydroponic gardens to school gardens, has established 10 programs at corporations, further expanding its reach and impact.
Las Vegas Sands supported the opening of the Healthy Asians & Pacific Islanders (HAPI) Medical Center in Las Vegas, aiding the AAPI community in accessing culturally and linguistically appropriate health services. This initiative is a collaboration with the Asian Community Development Center (ACDC), which received $100,000 from Sands to facilitate the center's launch. The medical center aims to serve underserved populations with a bilingual staff and culturally sensitive care, addressing significant barriers to health access for AAPI residents in the region.
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