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 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.
Sands and Thurgood Marshall College Fund (TMCF) hosted 15 historically Black colleges and universities (HBCUs) students for the second Sands Hospitality Immersion Program in Las Vegas. The program, aimed at inspiring diverse students to consider careers in hospitality, provided a comprehensive introduction to the travel, tourism, and leisure industry.
The multi-day immersion included on-campus learning sessions, industry speakers, interactive activities, and tours of integrated resorts, convention spaces, and sports venues. Students from various disciplines gained insights into different aspects of hospitality, including food and beverage operations, events and entertainment, and casino gaming.
The program is part of Sands Cares global community engagement initiative and aligns with the company's focus on education, workforce development, and diversity, equity, and inclusion. It aims to cultivate a diverse and inclusive workforce in the hospitality industry, which is one of the world's fastest-growing and largest employment fields.
Sands China and Marriott International are set to introduce the first Luxury Collection Hotel in Macao. The Londoner Grand, located within The Londoner® Macao, aims to offer guests a unique blend of British charm and Macanese culture. Designed by Peter Silling & Associates, the hotel features Georgian-inspired architecture with elegant rooms and suites reminiscent of London's Mayfair district.
The hotel will add 2,405 rooms and suites to The Londoner Macao, along with five new dining concepts. These include Hampton Court (international and Chinese buffet), Chelsea Garden (all-day dining), The Conservatory (dim sum, tearoom, confectionery, and British pub), and two signature Chinese restaurants. This expansion aims to enhance The Londoner Macao's position as a premier resort destination for both business and leisure travelers, supporting Macao's status as a World Centre of Tourism and Leisure.
Marriott International and Sands China have signed an agreement to introduce The Luxury Collection brand to Macao. The Londoner Grand, a Luxury Collection Hotel, Macao is set to open in January 2025, offering 2,405 rooms and suites designed with Georgian-inspired architecture. Located on the Cotai Strip, the hotel will be near key attractions and feature five distinct dining concepts.
The hotel's interior design, led by Peter Silling & Associates, will emphasize elegant spaces with traditional paneling, linear headboards, and marble bathrooms. Suites will be decorated with art inspired by London's Mayfair district, and some will include terraces, kid rooms, media rooms, and private pools.
This collaboration between Marriott International and Sands China aims to elevate Macao's luxury hospitality landscape and expand The Luxury Collection's footprint in the region.
Las Vegas Sands (NYSE: LVS) has announced its role as a presenting partner sponsor for the upcoming Clinton Global Initiative (CGI) meeting on Sept. 23-24 in New York City. This sponsorship aligns with Sands' commitment to addressing global challenges under its corporate responsibility program's pillars: People, Communities, and Planet.
Key initiatives include:
- Investing $200 million in workforce development by 2025
- Contributing 250,000 Team Member volunteer hours by 2025
- Achieving a 17.5% reduction in emissions by 2025 compared to 2018
The company's support of CGI reflects its dedication to economic empowerment, diversity, hardship relief, and climate change mitigation. Sands' involvement aims to foster important dialogue and contribute to global action on pressing challenges.
Las Vegas Sands (NYSE:LVS) has announced LPGA Tour pro Muni "Lily" He as its newest champion ambassador. The 24-year-old China-born golfer will support Sands' efforts to promote women's golf and leadership through resort and community initiatives. He joins fellow pro golfers Collin Morikawa, Minjee Lee, and Li Haotong on Sands' roster of champion ambassadors.
Born in Chengdu, China, He has a decorated junior golf career and turned professional in 2017. She secured her first professional victory at the 2018 Prasco Charity Championship and achieved full status for the 2019 LPGA Tour. With over 890,000 Instagram followers, He is positioned as one of the most marketable sports stars from Asia.
Las Vegas Sands (NYSE: LVS) has announced LPGA Tour pro Muni 'Lily' He as its newest champion ambassador. The 24-year-old China-born golfer will work with Sands to promote women's golf and leadership through resort and community initiatives. He joins fellow pro golfers Collin Morikawa, Minjee Lee, and Li Haotong on Sands' roster of ambassadors.
Born in Chengdu, China, He has a decorated junior golf career and turned professional in 2017. She secured her first professional victory at the 2018 Prasco Charity Championship and achieved full status for the 2019 LPGA Tour. With over 890,000 Instagram followers, He is positioned as one of the most marketable sports stars from Asia, influencing in golf, fitness, and fashion.
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?
