Principal Software Engineer

Las Vegas Sands cites high-end softness for Q3 earnings decline. October 21, 2026 · 8:41pm ET | 5:41pm PT Photo: By Kennyieong., CC BY-SA 3.0, https://commons.wikimedia.org/w/index.php?curid=12403795 Email, LinkedIn, and more Las Vegas Sands reported third-quarter earnings that decreased modestly year over year due to high-end softness in both Singapore and Macau, the ongoing expansion of Marina Bay Sands, and returning capital to shareholders. Net revenue was $3.2 billion compared to $3.3 billion in the prior-year quarter. Operating income was $618 million, down from $719 million in the third quarter of 2025, the company said Wednesday. The Las Vegas-based company also reported net income in the third quarter was $352 million compared to $491 million in the same quarter last year. Las Vegas Sands reported a profit of 48 cents per share; earnings adjusted for non-recurring costs and asset impairment costs were 54 cents per share. The results did not meet Wall Street estimates. The average estimates of 14 analysts surveyed by Yahoo Finance were earnings of 68 cents a share for the third quarter. "We continued to execute our strategic objectives during the quarter in both Singapore and Macau, while increasing the return of capital to shareholders, including through the repurchase of $950 million of our common stock during the quarter," said Patrick Dumont, chairman and CEO. Dumont told analysts their goal was to position their property portfolio to capitalize on the growing demand of premium travel and entertainment experiences in Asia. "We were fortunate to have the balance-sheet and cash-flow strength to support our meaningful investment program," Dumont said during the company's third-quarter conference call. "The high end was softer in both of our markets this quarter, which negatively impacted our reported financial results." Las Vegas Sands owns and operates Marina Bay Sands in Singapore. The company is developing an $8 billion standalone ultra-luxury expansion, known as IR2, adjacent to the resort. "Singapore remains an ideal market for high-value tourism," Dumont said. "Our focus on creating unique and memorable entertainment and hospitality experience for our customers continues to generate industry leading financial performance. We believe that growth in terms of Singapore will continue over the long term." Looking ahead, Dumont said, they remain enthusiastic about the additional growth opportunities presented by the new development project in Singapore. He confirmed that the company remains on track to open IR2 in early 2031, subject to government approvals. Consolidated adjusted property EBITDA was $1.1 billion compared to $1.3 billion in the prior-year's quarter. On a GAAP basis, net revenue for Sands China Limited (SCL) increased 1.4% to $1.9 billion compared to the third quarter of 2025. Net income for SCL decreased 29.8% to $191 million compared to $272 million in the third quarter of 2025. Consolidated adjusted property EBITDA was $1.1 billion compared to $1.3 billion in the prior-year's quarter. Other factors affecting earnings were interest expense, net of amounts capitalized, which was $186 million for the quarter, compared to $187 million in the prior year's quarter. Las Vegas Sands reported its weighted average debt balance was $15.5 billion during the third quarter compared to $15.9 billion during the third quarter of 2025, with a weighted average borrowing cost of 4.7% compared to 4.5% during the third quarter of 2025. The company's effective income-tax rate for the third quarter was 22.5% compared to 15.6% in the prior-year's quarter. The income-tax rate for the third quarter was primarily driven by a 17% statutory rate on Singapore operations. In Macau, Dumont said he was encouraged by their progress in the market. The company's share of mass-gaming revenue had reached 26.1% for the quarter, their strongest performance since the fourth quarter of 2023. "When compared to the third quarter of 2025, we delivered growth in gaming volumes across all segments," Dumont said. "Rolling volume was up 31% year over year. Our non-rolling drop was up 11% year over year and ETG (electronic table games) handle was up 26%." Dumont said the renovation of the Venetian in Macau is progressing and it's expected to be completed by Chinese New Year 2028, along with new premium focused gaming salons and related events. "Macau remains the largest gaming market in the world and we believe the market will grow and reach new heights in the years ahead," Dumont told analysts. "We retain our goal of reaching $700 million quarterly EBITDA and more over time, as we fully implement our investment in operating strategies and as the Macau market grows in the future." Overall, Dumont stressed that this quarter does not represent the "true earnings power of our properties" in both Singapore and Macau.

Las Vegas Sands: Q3 revenue totals $3.2bn, net income falls 27.4% to $304m. Revenue from the operator's Macao businesses accounted for just over $1.9bn of revenue and increased 1.8%, while Marina Bay Sands drove $1.3bn but decreased 9.9% year-over-year. Key Points The Q3 net revenue figure represents a decrease of 3.5%, as adjusted property EBITDA fell 16.7% to $1.1bn Las Vegas Sands' casino revenue for Q3 2026 decreased 5.4% to $2.4bn, followed by rooms revenue which grew 0.5% to $376m Operating income also fell during the third quarter of 2026, with Las Vegas Sands reporting a decrease of 14% to $618m Las Vegas Sands has reported its financial results for the third quarter of 2026, as revenue during the period decreased 3.5% for a total of $3.2bn, while net income also witnessed a fall of 27.4% to $304m. Despite the decreases in both financial categories, Chairman and CEO Patrick Dumont remained hopeful on the operator's long-term growth strategy: "Players Publishing Ltd. remain enthusiastic about its growth prospects in Singapore both today and upon the completion of its ongoing expansion project, which will meaningfully increase its suite capacity and entertainment offerings. "We remain confident in our long-term strategy in both Singapore and Macao and will continue to invest in future growth. We are fortunate to have the balance sheet and cash flow strength to support our meaningful capital investment programs, positioning our portfolio of properties to capitalize on the growing demand... in the region." Las Vegas Sands net revenue history. Has Las Vegas Sands' revenue faltered since the start of 2025? Revenue from the operator's Macao businesses accounted for just over $1.9bn of revenue and increased 1.8%, while Marina Bay Sands drove $1.3bn but decreased 9.9%. Las Vegas Sands' total adjusted property EBITDA decreased 16.7% during Q3 for a total of $1.1bn. The Venetian Macao reported a Q3 2026 revenue of $649m, equating to a fall of 6.2%, while adjusted property EBITDA decreased 15.3% to $205m. The Londoner Macao managed $685m of revenue and $178m of adjusted property EBITDA during the quarterly period, equating to decreases of 0.1% and 18.7%. Parisian Macao increased revenue 6% to $231m, although adjusted property EBITDA fell 13.2% to $46m. The Plaza and Four Seasons Macao combined to account for $238m of the operator's total revenue for Q3 2026 - representing an increase of 15.5% - as adjusted property EBITDA rose 14.9% to $85m. Las Vegas Sands adj. Property EBITDA split - Q3 2026. Which properties accounted for the most EBITDA during Q3 2026? Sands Macao also increased both revenue (up 37.5% to $99m) and adjusted property EBITDA (up 75% to $14m), while revenue from Ferry Operations grew 18.8% to $38m. Ferry Operations' adjusted property EBITDA decreased 80%, however, totaling just $1m. Marina Bay Sands accounted for $590m of Las Vegas Sands' total adjusted property EBITDA for Q3 2026, representing a decrease of 20.6%. Las Vegas Sands' casino revenue for Q3 2026 decreased 5.4% to $2.4bn, followed by rooms revenue which grew 0.5% to $376m. Food & beverage and mall operations produced $176m and $202m of revenue, respectively, equating to increases of 6.7% and 1.5%. The operator's convention, retail and other segment was responsible for $92m of revenue during Q3 and increased 5.7%, while operating income for Las Vegas Sands decreased 14% to $618m. Las Vegas Sands net income history - Q3. How has the operator's net income changed since 2021? On September 2, Las Vegas Sands increased its ownership share of Sands China to 75.01% following its recent purchase of 1.62 million shares. Sands China said the shares were acquired by Venetian Venture Development Intermediate II, its direct parent and an indirect wholly owned subsidiary of Las Vegas Sands. Good to know Las Vegas Sands confirmed Patrick Dumont's appointment as Chairman and CEO of the operator during February 2026, officially replacing Robert Goldstein on March 1

Seven major S&P 500 companies with market capitalizations exceeding $20 billion need to rally at least 200% to reach their previous all-time highs, according to Bespoke. The struggling firms include PG&E, PayPal, Ford, Nike, Las Vegas Sands, Zoetis, and Crown Castle. Nike has experienced particularly poor performance, with the company's stock trading at record lows and its dividend yield approaching 5%. Recent quarterly results showed Nike Brand sales fell 4%, online sales dropped 13%, Converse sales declined 28%, and China sales crashed 26%. CEO Elliott Hill indicated that weakness in the sportswear market would persist. PayPal faces intense competition in the payments sector. New CEO Enrique Lores reportedly declined a buyout offer from Stripe and will focus on cost reductions and improving customer experience.