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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.
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.
Las Vegas Sands (NYSE: LVS) has announced the upcoming release of its second quarter 2024 financial results. The company will disclose these results on Wednesday, July 24, 2024, after the market closes. Following the release, LVS will host a conference call at approximately 1:30 p.m. Pacific Time to discuss the financial outcomes. For those interested in following the discussion, a webcast of the conference call will be accessible through the company's investor relations website at www.investor.sands.com.
Las Vegas Sands (NYSE: LVS) has released its 2023 ESG report, which reviews the midpoint of its 2021-2025 ambitions. The company has made significant strides in emissions reduction, reducing emissions by 50% from the 2018 baseline, surpassing its 2025 target of a 17.5% reduction. In workforce development, Sands has invested $181 million towards a $200 million goal, and in community volunteerism, it has logged 222,823 hours towards a new goal of 250,000 hours by 2025.
Key achievements in 2023 include Sands China's relicensing in Macao, the grand opening of The Londoner Macao, and the completion of phase one renovation at Marina Bay Sands. The company also received LEED Gold Certification for its new Las Vegas headquarters. Additionally, Sands spent $2 billion on local procurement and launched several initiatives to support local businesses and innovation.
Sands remains committed to its ESG goals, with continued efforts in low-carbon transition, waste reduction, and community support. The company was recognized by Fortune and Newsweek for its responsible and sustainable business practices.
Las Vegas Sands (NYSE: LVS) announced a multi-year partnership with six-time PGA Tour winner Collin Morikawa. Morikawa will support Sands' initiatives in resort programs and community development, focusing on youth and community revitalization. A $100,000 donation to the Maggie Hathaway Golf Course restoration in LA is part of the kickoff. Morikawa, who has a history of community support, will also aid in golf clinics and revitalization projects, including a potential integrated resort in Long Island if Sands secures a gaming license. The partnership aligns both parties in their commitment to youth development and strong communities.
On June 18, 2024, the UN observed Sustainable Gastronomy Day, emphasizing sustainable practices in cuisine. Sands, headquartered in Las Vegas, has adopted new sustainable initiatives, such as using Ōra King salmon in its Café Veranda. This high-quality, farm-raised salmon is certified by the Global Aquaculture Alliance for Best Aquaculture Practices.
Sands is also educating its team members and resort staff about sustainable food strategies. Over 200 restaurants are involved in promoting sustainable gastronomy. Recent initiatives include transitioning to cage-free eggs by 2028 and eliminating certain seafood like shark fin and bluefin tuna.
Sands' sustainability focus aims to impact the entire food value chain, from procurement to consumer education. Significant efforts include sourcing seafood certified by the Marine Stewardship and Aquaculture Stewardship Councils. For more information, readers are directed to Sands' 2023 ESG Report.
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