Las Vegas Sands reports third-quarter earnings miss

Las Vegas Sands reported third-quarter financial results that fell short of analyst expectations. Revenue decreased to $3.22 billion from $3.33 billion in the same quarter last year, while net profit dropped to $352 million. Adjusted earnings per share were $0.54, trailing the $0.73 anticipated by analysts.

Performance was impacted by weakness in the high-end gaming segments in both Singapore and Macau. At Marina Bay Sands in Singapore, revenue fell approximately 10% and EBITDA dropped by about 20%. In Macau, while Sands China's revenue saw slight growth to $1.94 billion, profitability declined, with margins falling to 27.3%.

To support shareholders, the company is utilizing capital return programs. Las Vegas Sands spent $950 million on share buybacks during the quarter and has repurchased approximately 19% of its shares since late 2023. Additionally, the board plans to increase the annual dividend by 20% to $1.44 per share by 2027.