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.
Sands China has been awarded a new 10-year gaming concession in Macao, announced by the Macao government on November 26, 2022. This provisional concession underscores Sands China's commitment to continuous investment in Macao's economy and community. The company plans to enhance non-gaming tourism and bolster local talent development, with over 90% of management roles held by locals. Leadership expressed gratitude to stakeholders, emphasizing the goal of transforming Macao into a premier international tourism destination.
Las Vegas Sands Corp. (LVS) reported Q3 2022 results showing a net revenue increase to $1.01 billion from $857 million a year prior, with a consolidated adjusted property EBITDA of $191 million. Despite ongoing travel restrictions, Marina Bay Sands in Singapore demonstrated a recovery, generating $343 million in adjusted EBITDA. The company reported a decreased operating loss of $177 million compared to $316 million in Q3 2021. Total debt outstanding reached $15.27 billion, while unrestricted cash balances stood at $5.84 billion.
Las Vegas Sands (NYSE: LVS) will announce its third quarter 2022 financial results on October 19, 2022, after market close. A conference call to discuss the results will begin at approximately 1:30 p.m. Pacific Time. Investors can access the live webcast on the company's website at www.sands.com. As a leading developer and operator of integrated resorts, Sands emphasizes significant contributions to local economies and sustainability initiatives.
Las Vegas Sands (LVS) partners with Nevada Partnership for Homeless Youth (NPHY) to host the sixth annual Southern Nevada Youth Homelessness Summit on November 17. This year's focus is on ending youth homelessness and features sessions on the challenges vulnerable youth face. The summit will launch the Movement Institute, aimed at providing advocacy training to community members. Since 2014, Sands has contributed over $2 million to NPHY, enhancing efforts to support the local homeless youth population amid increasing demand.
Las Vegas Sands Corp. (NYSE: LVS) and Sands China Ltd. submitted a new 10-year gaming concession application in Macao, emphasizing their significant investment in non-gaming tourism and local businesses. Chairman Robert G. Goldstein highlighted their commitment to Macao’s growth as an international tourist destination, driven by extensive community support and infrastructure development. The company aims to enhance local talent development and expand tourism attractions. The application follows their longstanding strategy to bolster Macao’s appeal, underscoring a vision of continued partnership with the local government and communities.
The 2022 Sands Shopping Carnival, organized by Sands China Ltd., opened on September 10 in Macao, coinciding with the Mid-Autumn Festival. The carnival is free to the public, running until September 12, and features over 530 booths across 21,000 square meters, offering about 260,000 products, including special MOP 1 items. The event aims to stimulate local consumption and support the economy by providing a platform for local SMEs. With strict COVID-19 safety measures in place, the carnival expectedly enhances community engagement and economic recovery efforts in Macao.
Las Vegas Sands (NYSE: LVS) has announced a $1 million scholarship program to nurture hospitality talent in Singapore. The initiative aims to assist over 100 students pursuing hospitality-related studies at various Institutes of Higher Learning. Kicking off in 2023, the program seeks to align with Singapore's projected tourism growth. This scholarship is part of Sands' broader community engagement strategy, Sands Cares, which focuses on workforce development in the hospitality sector, indicating a commitment to support Singapore's economic and tourism goals.
Las Vegas Sands Corp. (LVS) reported a challenging financial quarter for June 30, 2022, with net revenue at $1.05 billion, down from $1.17 billion a year prior. Operating loss for the quarter widened to $147 million, while net loss from continuing operations was $414 million, exceeding the previous year’s loss of $280 million. Despite difficulties due to pandemic-related restrictions, Marina Bay Sands showed signs of recovery with adjusted property EBITDA of $319 million. Unrestricted cash stood at $6.45 billion, reflecting financial stability amid ongoing investments in growth.
Las Vegas Sands (NYSE: LVS) will announce its financial results for Q2 2022 on July 20, 2022, shortly after the close of the New York Stock Exchange. A conference call will take place at 1:30 p.m. PT to discuss the results. Investors can access a live webcast through the company’s Investor Relations page. Las Vegas Sands is renowned for developing and operating integrated resorts, significantly impacting local economies through job creation and tourism.
Las Vegas Sands (NYSE: LVS) will participate in the 38th Annual Bernstein Strategic Decisions Conference on June 1, 2022, in New York, NY. CEO Robert G. Goldstein will lead a discussion starting at 1:30 p.m. ET. Investors can access the webcast via the company's website.
The company is renowned for its Integrated Resorts, contributing to local economies and job creation. Sands operates globally, including properties in Singapore and Macao, with a commitment to corporate responsibility and sustainability.
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