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.
The 5th annual Sands Shopping Carnival, held July 18-21, 2024, at The Venetian Macao's Cotai Expo, drew a record 120,000 visitors. Organized by Sands China, the event featured over 580 booths, including 325 for SMEs. The carnival offered nine exhibition zones, family entertainment, and community service organization participation. New additions included a kids talent show and a Hanfu styling contest, attracting participants from the Greater Bay Area. The event supported local businesses, promoted environmental stewardship, and aligned with Macao SAR government's economic revival efforts. Dr. Wilfred Wong, Sands China's executive vice chairman, emphasized the company's commitment to supporting local SMEs and growing together with them.
Sands' Uni+ed resource group for LGBTQ+ Team Members and allies focuses on four core pillars: education, professional development, networking, and community engagement. The group offers various educational programs, including sessions on team dynamics, emotional intelligence, and LGBTQ+ issues. Uni+ed also organizes volunteer activities such as packing food kits, assembling hygiene supplies, and participating in fundraising walks.
Members highlight the group's impact on fostering connections beyond daily work interactions and enhancing corporate culture. Uni+ed's professional development programs have been so successful that other departments have requested similar sessions. The group also emphasizes allyship education and plans to continue expanding its initiatives to encourage more Team Member participation and support for the LGBTQ+ community.
Las Vegas Sands' new corporate headquarters in Las Vegas has earned LEED Gold certification for Building Design and Construction from the U.S. Green Building Council. This achievement aligns with the company's commitment to environmental sustainability. The campus features several eco-friendly elements:
- Powered by renewable electricity, including 1,300 solar photovoltaic panels
- Generated 604,000 kWh of renewable energy in 2023
- High albedo rooftop to reduce air conditioning load
- LED lighting with occupancy sensors
- 16 electric vehicle charging stations
- Food waste management system
The Sands ECO360 team led the sustainability strategy, focusing on low-carbon transition, water stewardship, waste, and materials management. Sands was recently named one of the World's Most Sustainable Companies of 2024 by TIME and Statista.
The 2024 Nevada Youth Homelessness Summit, organized by Nevada Partnership for Homeless Youth (NPHY) and Las Vegas Sands (NYSE: LVS), is set for November 8 at Las Vegas City Hall. Registration opens August 5 at nphy.org/Summit24. The event aims to address Nevada's growing youth homelessness crisis, with a 14% increase in young people experiencing homelessness from 2022 to 2023. The summit will focus on developing Nevada's first standalone plan to end youth homelessness, building on the success of the Southern Nevada Plan. It will bring together diverse stakeholders, including youth with lived experience, service providers, policymakers, and business leaders. The conference registration fee is $100 through September 30 and $175 starting October 1.
Las Vegas Sands (NYSE:LVS) has released its 2023 Environmental, Social and Governance (ESG) Report, highlighting significant progress towards its 2021-2025 corporate responsibility goals. Key achievements include:
1. A 50% emissions reduction from 2018 baseline, surpassing the 17.5% target.
2. $181 million invested in workforce development, nearing the $200 million goal.
3. 222,823 volunteer hours logged, exceeding the initial 150,000-hour target.
The company also celebrated milestones such as Sands China's relicensing in Macao, the grand opening of The Londoner Macao, and major renovations at Marina Bay Sands. Sands maintained strong ESG performance while business returned to pre-pandemic levels, earning recognition on Fortune's World's Most Admired Companies list and the Dow Jones Sustainability Indices.
Sands China has achieved Top 1% rankings in both the China and Global editions of the S&P Global Sustainability Yearbook 2024, highlighting its exceptional ESG performance. The company, with its 26,000 team members, is the only one in the Casinos & Gaming industry to receive this distinction. Sands China was among 12 companies out of 1,700 assessed in China and 66 out of 9,400 globally to achieve Top 1% ESG performance.
Key achievements include:
- 2.33 million hours of workforce training in 2023
- 17.5% reduction in gas emissions ahead of schedule
- 310,000+ hours of voluntary community service
The company's ESG efforts are executed under its corporate responsibility pillars: People, Community, and Planet. Sands China has also been listed in the Dow Jones Sustainability Indices (DJSI) World and Asia Pacific for the second and third consecutive year, respectively.
Sands China has announced the winners of its Entrepreneurship Recruitment Programme for Rua das Estalagens, part of the company's ongoing Community Revitalisation Series. The programme aims to fund innovative business proposals from Macao residents to revitalize the historic street's economy. Out of 128 applications, seven business plans were selected to receive subsidies up to twice their initial capital investment, capped at MOP 1 million. The selected projects cover various categories including dining, retail, and cultural industries. Sands China collaborated with government bodies, businesses, and NGOs for this initiative, which aligns with the Macao SAR government's development strategy. The company plans to launch a second phase based on the neighborhood's situation and store operations.
Las Vegas Sands (NYSE: LVS) reported strong financial results for Q2 2024, with net revenue of $2.76 billion and net income of $424 million. The company's consolidated adjusted property EBITDA reached $1.07 billion, with Macao contributing $561 million and Marina Bay Sands in Singapore adding $512 million. LVS repurchased $400 million of common stock during the quarter.
The company saw growth in both Macao and Singapore compared to Q2 2023, despite visitation in Macao remaining below pre-pandemic levels. LVS continues to invest in capital expenditure programs in both markets to enhance their appeal as business and leisure tourism destinations. The company's financial strength supports ongoing investments, pursuit of growth opportunities, and returns to stockholders.
The 2024 Sands Shopping Carnival in Macao set a new record with 120,000 visits over four days, supporting the government's 'tourism+' initiative. The event featured over 580 booths, including 325 dedicated to local SME suppliers. Highlights included:
- MOP 1 products and up to 90% discounts from international brands
- Free shuttle service and parking
- Sands Cares Ambassadors accompanying community groups
- Food Court with social enterprises
- Cultural and Creative zone with 10 community organizations
- Talent contests attracting Greater Bay Area participants
- Eco-friendly initiatives aligned with Sands ECO360 strategy
The carnival has welcomed over 540,000 visitors since its 2020 debut, becoming an annual signature event for Sands China and supporting Macao's economic revival efforts.
The 2024 Nevada Youth Homelessness Summit, organized by Nevada Partnership for Homeless Youth (NPHY) and Las Vegas Sands (NYSE: LVS), is set for November 8 at Las Vegas City Hall. Registration opens August 5 at nphy.org/Summit24. This 8th annual event aims to address Nevada's growing youth homelessness crisis and develop the state's first standalone plan to end youth homelessness.
The summit comes as Nevada faces a 14% increase in youth homelessness from 2022 to 2023 and an extreme shortage of affordable housing. The event will bring together diverse stakeholders, including youth with lived experience, service providers, policymakers, and business leaders, to explore statewide efforts and concrete steps for achieving transformative change.
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?
