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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 organized a five-day Macao Technological Innovation Exploration in Lisbon from Nov. 11-15, bringing 17 Macao enterprises to Portugal. The initiative, co-organized with the Macao Economic and Technological Development Bureau and supported by the Macao Science and Technology Development Fund, aimed to promote technological innovation in Macao.
The delegation attended the Web Summit, a major tech conference with 70,000 participants from 150 countries, focusing on sustainability, AI, and robotics. They also visited innovative companies including Outsystems, Sensei Tech, and Unicorn Factory. The trip concluded with a Concrete Opportunities Workshop exploring innovation methodologies and collaboration opportunities.
Sands China hosted a joint event at The Parisian® Macao, combining the Sands Supplier Excellence Awards and the graduation ceremony for the 15th and 16th cohorts of its Sands Procurement Academy. Seven suppliers were recognized for excellence across different categories, while 73 local SMEs graduated from the academy program. The event highlighted Sands China's commitment to supporting local businesses, with the academy having trained 559 suppliers since its 2017 founding.
The company showcased 138 success stories of SME partnerships and hosted a networking session. Notably, Sands China reported a total procurement spend of MOP 10.3 billion in 2024, with 29 percent allocated to local SMEs.
Las Vegas Sands has implemented comprehensive well-being initiatives across its global operations to support Team Member advancement. In Macao, Sands China's Happy 360 program has conducted nearly 200 activities for over 28,000 participants since 2021, offering health seminars, workshops, and consultations. Marina Bay Sands in Singapore provides various programs including physical activities, crafts, and sports clubs. The company is also conducting mental health awareness training for managers and offering wellness coaching through its EmpowHER resource group. These initiatives are part of Sands' commitment to invest $200 million in workforce development by 2025.
The 2024 Nevada Youth Homelessness Summit, presented by Nevada Partnership for Homeless Youth (NPHY) and Las Vegas Sands (LVS), will take place on November 8, addressing the rising youth homelessness crisis in Nevada. The summit brings together experts, stakeholders, and youth with lived experiences to develop solutions, following a 14% increase in youth homelessness from 2022 to 2023. The event features panel discussions, breakout sessions, and a youth fashion showcase. This year's summit aims to expand statewide collaboration and work towards creating Nevada's first standalone plan to end youth homelessness, which will be developed after completing a statewide study in June 2025.
Las Vegas Sands (LVS) and Nevada Partnership for Homeless Youth (NPHY) are organizing the 8th annual Nevada Youth Homelessness Summit on November 8, 2024, at Las Vegas City Hall. The event aims to address Nevada's rising youth homelessness rates, which increased by 14% from 2022 to 2023. The summit features presentations from experts, officials, and youth advocates, preparing for the state's first stand-alone youth homelessness plan in 2025. Nevada currently faces the nation's most severe affordable housing shortage, with only 14 affordable rentals available per 100 extremely low-income households.
Sands China and community partners assembled over 30,000 hygiene kits for Clean the World in one day at The Venetian Macao. 350 volunteers, including Sands Cares Ambassadors and members from four local organizations, participated in this 11th annual initiative. The kits, containing recycled hotel amenities and essential hygiene supplies, will be distributed to 15 community groups in Philippines, Hong Kong, and Macao. Since 2014, Sands China has diverted over 330 tons of hotel amenities from landfills and produced 385,700 hygiene kits through this sustainability program.
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.
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