Las Vegas Sands reports lower Q2 profit
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Las Vegas Sands presented mixed financial results for the second quarter of 2026 as improvement in the operating segment in Singapore was counteracted by lower performance in terms of gambling.
Operator generated revenue of $3.15 billion for the quarter ended June 30, still this number is lower than $3.18 billion a year earlier. Operating income fell to $618 million from $783 million, while net income dropped by 28% to $373 million against $519 million in Q2 2025. Consolidated adjusted property EBITDA also saw a decline to $1.12 billion against $1.33 billion.
Patrick Dumont, Chairman and Chief Executive Officer, said:
We continued to execute our strategic objectives during the quarter in both Singapore and Macao while continuing to increase the return of capital to shareholders. In Macao, our ongoing investments in enhanced service and hospitality offerings contributed to growth in volumes across all gaming segments as compared to the prior year, although unusually low hold in rolling play negatively impacted our reported financial results for the quarter. At Marina Bay Sands in Singapore, we continued to deliver industry-leading financial performance.Sands China, which runs the properties in Macau for the company, reported a drop in revenues of 0.8% up to $1.78 billion, with net income dropping by 50% to $107 million.
Despite disappointing results in terms of earnings, Las Vegas Sands kept on returning capital to shareholders. Within the quarter the company bought back its own shares worth $787 million and distributed $0.30 quarterly dividend per share. After the quarter, the board approved new share repurchase program in the amount of $6 billion, which is expected to last until July 2029.
At the end of the quarter, Las Vegas Sands had $3.38 billion in unrestricted cash and managed to generate $1.26 billion from repayment of the seller-financing loan related to the sale of previous Las Vegas properties. Total $332 million, with majority invested in ongoing Marina Bay Sands expansion project.
Patrick Dumont added:
Looking ahead, we remain confident that our people, our products and our focus on delivering outstanding service, hospitality and entertainment experiences to our customers will drive growth for the company and deliver strong returns to our shareholders in the years ahead.
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