TLDR
- Las Vegas Sands reported Q3 2026 revenue of $3.22 billion, down 3.5% and below the $3.32 billion estimate.
- Net income fell to $352 million from $491 million a year earlier.
- The company bought back $950 million in stock and raised its quarterly dividend 20% to $0.30 per share.
- Sands China plans to invest about $4.5 billion in Macau through 2032, mostly in non-gaming projects.
- The company ruled out iGaming and prediction markets and is exploring AI tools instead.
Las Vegas Sands reported third-quarter results that fell short of what analysts expected. Revenue and profit both declined compared to the same period last year.
The casino operator said it will keep investing in its properties in Macau and Singapore. It also said it has no plans to enter online gambling or prediction markets.
Revenue and Profit Fall in the Third Quarter
Las Vegas Sands posted $3.22 billion in revenue for the third quarter of 2026. That is a 3.5% drop from the same quarter last year.
The result missed the Zacks Consensus Estimate of $3.32 billion. Shares of the company are currently trading at $37.51.
Net income came in at $352 million for the quarter. That compares with $491 million in the third quarter of 2025.
Consolidated adjusted property EBITDA fell to $1.1 billion from $1.3 billion a year earlier. EBITDA measures earnings before interest, taxes, depreciation, and amortization.
Most of the company’s properties saw lower revenue than last year. Flagship resorts such as Marina Bay Sands and The Londoner were among those that underperformed.
A few properties grew. The Plaza Macao and Four Seasons Macao brought in $238 million, up 15.5% from a year ago.
The Parisian Macao also improved. Its revenue rose 6% year over year to $231 million.
Expansion Plans in Macau and Singapore
The company is moving ahead with an expansion project at Marina Bay Sands in Singapore. Las Vegas Sands expects the development to support its profitability and premium market position.
In Macau, the Venetian is set for a large renovation aimed at drawing more premium customers. Sands China has committed to investing about $4.5 billion in the region through 2032.
About 93% of that money will go toward non-gaming projects. This matches Macau’s push to diversify beyond casinos and attract a wider range of tourists.
CEO Patrick Dumont said he still believes in long-term trends in the region. “We really believe fundamentally that the trends of economic growth and wealth creation are there,” he said.
He also said both Macau and Singapore would benefit from more high-end hotel capacity. “I think that will only help both markets grow over time,” Dumont said.
Company officials have ruled out expanding into iGaming or prediction markets. Instead, the company is looking at how artificial intelligence could improve the customer experience.
Las Vegas Sands said it is exploring AI for business intelligence and promotional offers. It is not yet clear whether these efforts will help results before the end of the year.
To support shareholders, Las Vegas Sands repurchased $950 million of its common stock during the third quarter. The company also raised its quarterly dividend by 20% to $0.30 per share.
