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) has announced the sale of its Las Vegas properties, including The Venetian Resort and the Sands Expo, for approximately $6.25 billion. An affiliate of Apollo Global Management will acquire the operational assets for $1.05 billion in cash plus $1.2 billion in seller financing, while VICI Properties will purchase the real estate assets for $4.0 billion. The sale, while significant, opens new avenues for growth as LVS refocuses on its Asian operations and potential domestic developments.
Las Vegas Sands Corp. (NYSE: LVS) reported its financial results for Q4 2020, revealing a net revenue decline of 67.3% year-over-year to $1.15 billion. The company experienced an operating loss of $211 million, contrasting with a $934 million profit in Q4 2019. Full-year losses reached $1.69 billion or $(2.21) per diluted share. Notably, Sands China Ltd. saw a 69.9% revenue drop compared to the previous year. Despite challenges, the management remains committed to growth and investing in new markets, aiming for recovery in tourism.
Las Vegas Sands has appointed Robert G. Goldstein as chairman and CEO, following the death of founder Sheldon G. Adelson on January 11, 2021. Goldstein, a long-time executive, had been serving as acting CEO since January 7. Patrick Dumont takes on the role of president and COO, and Randy Hyzak is now CFO. The leadership change aims to honor Adelson's legacy while pursuing future growth. Goldstein emphasizes a commitment to the company's core principles and community support, while continuing to provide shareholder returns.
Las Vegas Sands (NYSE: LVS) will announce its financial results for the quarter ended December 31, 2020 on January 27, 2021, shortly after the market close. A conference call will follow at 1:30 p.m. PT to discuss the results. The call can be accessed via the company's Investor Relations webpage. As a leading operator of Integrated Resorts, Las Vegas Sands focuses on delivering economic benefits to the communities it operates in.
Dr. Miriam Adelson announced the death of her husband, Sheldon G. Adelson, Chairman and CEO of Las Vegas Sands, due to complications from a long illness. Celebrated for his entrepreneurial spirit, Sheldon rose from humble beginnings to become a significant figure in business and philanthropy. His legacy includes commitment to his employees, ensuring their wages during the COVID-19 crisis, and substantial contributions to various charitable causes. Dr. Adelson reflects on their life together and the immense impact he had on countless lives, emphasizing his American patriotism and dedication to social good.
Las Vegas Sands announces the death of its Chairman and CEO, Sheldon G. Adelson, at age 87 from complications due to non-Hodgkin's lymphoma. Adelson, a transformative figure in the integrated resort industry, was known for his exceptional entrepreneurial success, founding Las Vegas Sands and redefining tourism in Las Vegas, Macao, and Singapore. He emphasized employee welfare during the pandemic, ensuring team members received full pay and benefits. The family requests privacy during their period of mourning, with plans for a funeral in Israel and a memorial service in Las Vegas.
Las Vegas Sands chairman and CEO Sheldon G. Adelson announced a leave of absence due to his ongoing treatment for non-Hodgkin's lymphoma, resuming his cancer therapy as of January 7, 2021. In his absence, Robert G. Goldstein, the current president and COO, has been appointed as the acting chairman and acting CEO of both Las Vegas Sands and Sands China Ltd. Las Vegas Sands continues to operate as a leader in the Integrated Resort sector, contributing significantly to local economies through job creation and tourism.
Las Vegas Sands (NYSE: LVS) published its 2019 Environmental, Social, and Governance (ESG) Report, highlighting progress in sustainability and corporate responsibility. Key achievements include advancements in environmental programs like renewable energy and plastics elimination, as well as social initiatives focused on Team Member wellness and community engagement. Notably, Sands was named to the Dow Jones Sustainability Index North America and the CDP 'A' list for climate change. The report consolidates data on environmental practices and governance, emphasizing ethics and transparency in operations.
Las Vegas Sands (NYSE: LVS) has been recognized by global nonprofit CDP on its Climate and Water A Lists for the sixth and third consecutive years, respectively. This achievement reflects the company's commitment to reducing emissions, managing climate risks, and promoting water efficiency. Sands is among only 64 companies to achieve both designations. Recently, it was also included in the Dow Jones Sustainability World and North America Indices. Sands aims to lead in environmentally responsible operations through its Sands ECO360 program.
FAQ
What is the current stock price of Las Vegas Sands (LVS)?
What is the market cap of Las Vegas Sands (LVS)?
What properties does Las Vegas Sands operate?
What is the company's focus since selling its Las Vegas properties?
What community initiatives is Las Vegas Sands involved in?
What are some upcoming projects for Las Vegas Sands?
How does Las Vegas Sands support local businesses?
What is Sands' approach to corporate responsibility?
What recognition has Las Vegas Sands received for its ESG efforts?
Who did Las Vegas Sands sell its Las Vegas assets to?
How does Las Vegas Sands promote innovation?
What financial results did Las Vegas Sands report recently?
