Q3 2026 Results

Las Vegas Sands reported third-quarter 2026 results on October 21.

High-End Gamblers Stay Home

CEO Patrick Dumont described high-end softness as 'aberrational' in both Macao and Singapore.

“When the customers don't show up, it's a little problematic”

Marina Bay Sands EBITDA

Marina Bay Sands generated $590 million in adjusted property EBITDA.

Sands China EBITDA

Sands China posted $529 million in adjusted property EBITDA.

Macao Market Share

Macao mass gaming revenue share climbed to 26.1%, the best since Q4 2023.

FIFA World Cup Impact

CEO Patrick Dumont attributed high-end softness to the FIFA World Cup final on July 19.

“Just when uncertainty is introduced into people's lives and how they think about tourism, it may change their behaviors”

Capital Returns

Sands repurchased $950 million of stock and raised quarterly dividend 20% to $0.36.

No M&A or Take-Private

CEO dismissed M&A and take-private speculation, stating no interest in private ownership.

“I do not think there is any interest at this time to take the company private”

China Tax Policy

Executives declined to comment on Chinese offshore wealth tax policy.

“We don't have any specific comment on the tax issue”

Macao Reinvestment

Sands China reported double-digit growth in patron count and high single-digit growth in property visitations.

“We had double-digit growth in patron count. We had high single-digit growth in property visitations”

Singapore EBITDA Target

Management reiterated $2.7, 2.8 billion Singapore run-rate and $700 million Macao quarterly EBITDA target.

Q4 Outlook

CEO believes high-end gamblers will return, targeting $700 million Macao EBITDA for Q4.

“We believe the trends of economic growth and wealth creation will continue into the future”