AI-extracted from the 10-Q filed 2026-10-23 — Q3 FY2026 (quarter ended September 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Las Vegas Sands Q3 2026 net revenues fell 3.5% YoY to $3.22B as Marina Bay Sands casino revenue dropped $161M, partially offset by Macao growth, and net income fell 28.3% to $352M.
Biggest Revenue Drivers
Casino$2,370M-5.4% YoY
Consolidated net revenues decreased due to a $161M casino revenue decrease at Marina Bay Sands, partially offset by a $25M increase at Macao operations, as lower win percentages reduced Non-Rolling Chip win.
Rooms$376M+0.5% YoY
Increase at Marina Bay Sands driven by higher ADR from May 2025 suite renovations, partially offset by fewer available rooms at Macao from Venetian renovations.
Biggest Revenue Drivers
Total revenue: $3.216B-3.5% YoY
Casino$2,370M-5.4% YoY
Consolidated net revenues decreased due to a $161M casino revenue decrease at Marina Bay Sands, partially offset by a $25M increase at Macao operations, as lower win percentages reduced Non-Rolling Chip win.
Rooms$376M+0.5% YoY
Increase at Marina Bay Sands driven by higher ADR from May 2025 suite renovations, partially offset by fewer available rooms at Macao from Venetian renovations.
Mall$202M+1.5% YoY
Increases at Macao operations driven by higher base and overage rent, partially offset by lower CAM revenue.
Food and beverage$176M+6.7% YoY
Increased business volume at Marina Bay Sands existing outlets and Macao banquet operations.
Convention, retail and other$92M+5.7% YoY
Not explicitly explained beyond increased related revenues in the quarter.
Largest Expense Items
Casino$1,408M+4.1% YoY
Macao increase driven by $23M higher gaming taxes and $20M higher payroll; Marina Bay Sands decreased $5M on lower gaming taxes, partly offset by higher premium-play gaming tax rate.
General and administrative$333M+8.1% YoY
Increases of $12M each at Marina Bay Sands (payroll, property taxes, facilities) and Macao (facilities repairs, marketing).
Depreciation and amortization$340M-7.6% YoY
Decrease at Marina Bay Sands from assets fully depreciated, partially offset by Macao asset additions.
Development$37M-48.6% YoY
Lower digital gaming and New York/Texas development costs versus prior year.
Margins: Consolidated adjusted property EBITDA fell 16.7% to $1,119M, with Marina Bay Sands decreasing on lower casino win percentages and higher payroll, and Macao decreasing on higher casino sales and marketing and payroll costs amid competition.
Watch Items from the Filing
Marina Bay Sands Q3 net revenues fell $142M and adjusted property EBITDA fell $153M (-20.6%) as Non-Rolling Chip win percentage dropped to 18.7% from 24.5%.
Macao adjusted property EBITDA decreased 12.0% in Q3 despite higher casino volumes, citing competitive environment and patron reinvestment costs.
Total debt of $15.4B with weighted average interest rate of 4.7%; LVSC senior notes issued May 2026 raise refinancing and rate exposure.
Repurchased $2.50B of common stock in nine months and authorized $6.0B program through July 2029; $5.06B remaining at quarter end.
MBS Expansion Project estimated at $8.0B total cost with completion targeted June 2030, after a July 8, 2029 contractual deadline subject to Singapore government approval.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
Hudson D. ZacharyEVP and Global General CounselGrant or award · Apr 27, 2026
Congress trading in LVS
7 transactions in LVS reported by 5 members of Congress under the STOCK Act, most recent trade May 8, 2025. Reported transactions, not recommendations.
About LAS VEGAS SANDS CORP (LVS): stock profile, AI score and financials
LAS VEGAS SANDS CORP (LVS) stock profile, AI quality score, and SEC EDGAR financial data, a Consumer Discretionary sector company. 13F Pro's AI-powered ranking engine scores LVS at 69.5/100 on a composite quality score built from its SEC filings, placing it at rank #248 of 2,925 stocks — the top 10% of the AI-ranked universe. LVS scores in the top quartile across revenue scale (89.1), balance sheet strength (80.1). Based on the latest XBRL financial filings (Q3 2026), LAS VEGAS SANDS CORP reports quarterly revenue of $3.2B, net income of $304.0M, an operating margin of 19.2%. Top institutional holders of LVS by reported 13-F value include BlackRock, VANGUARD CAPITAL MANAGEMENT, VANGUARD PORTFOLIO MANAGEMENT, based on the most recent SEC filings. LVS trades on the NYSE exchange and files with the SEC under CIK 1300514. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate LVS daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for LAS VEGAS SANDS CORP directly from SEC EDGAR.