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) reported Q3 2024 financial results with net revenue of $2.68 billion, down from $2.80 billion year-over-year, and net income of $353 million, compared to $449 million in Q3 2023. The company's consolidated adjusted property EBITDA was $991 million, with Macao contributing $585 million and Marina Bay Sands adding $406 million. Both locations were negatively impacted by low hold on rolling play. The Board authorized $2.0 billion in future stock repurchases and increased the annual dividend to $1.00 per share for 2025. During Q3, LVS repurchased $450 million of common stock and acquired $44 million of SCL stock.
Las Vegas Sands launched its first corporate summer intern program at its new Las Vegas headquarters, welcoming 10 interns for a 10-week program. Interns were placed in various departments, including design, engineering, treasury, compliance, tax, HR, and procurement. The program aimed to provide hands-on experience in the hospitality industry and cultivate future talent.
The intern class graduated in August, with participants sharing their experiences and insights gained. Many interns highlighted the valuable skills they acquired, the importance of cross-department collaboration, and how the internship broadened their career perspectives.
This initiative is part of Sands' commitment to workforce development, with a goal to contribute $200 million by 2025. As of 2023, the company had already contributed $181 million towards this ambition.
Las Vegas Sands (NYSE: LVS) has announced that it will release its third quarter 2024 financial results on Wednesday, October 23, 2024, after the market closes. The company will host a conference call to discuss the results at approximately 1:30 p.m. Pacific Time on the same day. Investors and interested parties can access a webcast of the conference call through the company's investor relations website at www.investor.sands.com.
Las Vegas Sands (LVS) is partnering with Americares for National Preparedness Month 2024, focusing on disaster readiness in the Greater New York area. Sands Cares has supported Americares for four years, enabling the recruitment of 25 new Global Roster members and hosting training sessions in New York and Connecticut. The partnership also strengthened Americares' Asia Regional Response Hub, facilitating emergency deployments and specialized training.
Key achievements include:
- Deployment of 62 emergency response team members for 337 days across various incidents
- Recruitment of 87 roster members in the Asia-Pacific region
- 354 roster members creating accounts on the new Americares Global Roster Portal
Sands' support has significantly enhanced Americares' emergency response capabilities and accelerated recruitment and training programs. Future plans include building emergency response capabilities in Texas and Louisiana.
Las Vegas Sands (NYSE:LVS) announced its role as a presenting partner sponsor for the Clinton Global Initiative (CGI) meeting on Sept. 23-24 in New York City. This sponsorship aligns with Sands' commitment to addressing economic, social, and environmental issues globally. The CGI meeting, coinciding with the U.N. General Assembly, brings together leaders to drive progress on various global challenges.
Sands' corporate responsibility program focuses on three pillars: People, Communities, and Planet. Key goals include investing $200 million in workforce development by 2025, contributing 250,000 Team Member volunteer hours, and reducing emissions by 17.5% compared to 2018 levels. The company's efforts span economic empowerment, diversity and inclusion, hardship relief, and climate change initiatives.
Las Vegas Sands (NYSE:LVS) has partnered with the Hispanic Association of Colleges and Universities (HACU) to award 13 students from Hispanic-serving institutions with Sands Hospitality Advancement Scholarships. The scholarships, valued at $5,000 and $2,500, support students pursuing careers in the travel, tourism, and leisure industry.
Recipients attend universities in Las Vegas and the Dallas-Fort Worth metro area. This initiative is part of Sands' commitment to building a diverse and capable hospitality industry workforce. It aligns with the company's 2021-2025 ambition to invest $200 million in workforce development, of which $181 million had been contributed by the end of 2023.
The program is one of several initiatives by Sands to strengthen the hospitality industry's talent pipeline, including partnerships with educational institutions, training opportunities, and mentorship programs.
Las Vegas Sands (NYSE: LVS) has partnered with the Hispanic Association of Colleges and Universities (HACU) to award 13 Sands Hospitality Advancement Scholarships to students from Hispanic-serving institutions in Las Vegas and the Dallas-Fort Worth metro area. The scholarships, valued at $5,000 and $2,500, support students preparing for careers in the travel, tourism, and leisure industry.
Recipients attend the University of Nevada, Las Vegas, College of Southern Nevada, University of North Texas, and Dallas College. This initiative is part of Sands' commitment to building a thriving hospitality industry workforce and its 2021-2025 ambition to invest $200 million in workforce development. By the end of 2023, Sands had contributed $181 million toward this goal.
Marina Bay Sands held its 10th Sands for Singapore Charity Festival from August 23-25, 2024, raising over $3.5 million for local charities. This brings the total amount generated since 2013 to nearly $30 million. The festival featured various activities, including:
1. The Community Chest Heartstrings Walk and Vertical Marathon
2. The Giving Marketplace with 16 booths
3. Scoops of Hope ice cream pop-up
4. Heartwork: Upcycling for Good initiative
More than 4,000 Marina Bay Sands Team Members participated in over 20 volunteer activations, contributing more than 6,600 volunteer hours. The festival is part of the global Sands Cares community engagement program, which aims to make positive impacts in Sands' regions.
Las Vegas Sands (LVS) supported a week-long study tour for 16 University of North Texas (UNT) hospitality students through its Sands Cares global community engagement program. The tour, aimed at workforce development in the hospitality industry, included visits to Sands' corporate headquarters and various Las Vegas resorts.
Students gained insights into diverse career paths from Sands executives and other industry professionals. The tour covered areas such as hotel operations, casino operations, marketing, and customer loyalty. It also included a visit to the Konami Gaming Lab at UNLV and a comprehensive tour of The Venetian Resort.
This initiative is part of Sands' broader efforts in hospitality education, which include programs like the Sands Hospitality Immersion Program with the Thurgood Marshall College Fund and a $1 million Sands Hospitality Scholarship Program in Singapore.
Las Vegas Sands (LVS) is actively addressing food waste reduction in alignment with the UN's International Day of Awareness of Food Loss and Waste Reduction 2024. The company aims to reduce food waste by 25% by 2025 as part of its Sands ECO360 global sustainability program. Strategies include:
1. Engaging stakeholders through improved processes and education campaigns
2. Preventing waste through alternative uses and food donations
3. Accelerating to zero food waste in Singapore
4. Tackling new challenges, such as repurposing coconut shells
In 2023, Sands' resorts donated over 9,000 kilograms of unserved food. Marina Bay Sands increased food waste diversion from 33% to 54% between January and December 2023. The company continues to innovate and set new targets to stretch its impact on food waste reduction.
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?
