)
Visual24 Oct 2025
The rise of Alphabet
Las Vegas Sands (LVS) investor relations material
Las Vegas Sands Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary22 Oct, 2025
Executive summary
Net revenue for Q3 2025 reached $3.33 billion, up 24% year-over-year, with net income rising to $491 million, driven by strong performance at Marina Bay Sands and Macao operations.
Adjusted property EBITDA increased 36% to $1.34 billion, with Marina Bay Sands delivering $743 million and Macao contributing $601 million.
EBITDA margin at Marina Bay Sands was 51.7%, and Macao's was 31.5%, with mass market and premium segments driving growth.
Shareholder returns included $500 million in share repurchases and a 20% increase in annual dividend to $1.20 per share for 2026.
Strategic marketing, reinvestment, and property upgrades in both regions supported outperformance and future growth.
Financial highlights
Casino revenues grew 29.4% to $2.51 billion, with mass slot win at Marina Bay Sands reaching $905 million, up 35% year-over-year.
Operating income was $719 million, up from $504 million year-over-year.
Adjusted net income attributable to shareholders was $536 million, with adjusted EPS of $0.78.
Share repurchases totaled $500 million in common stock and $337 million in SCL stock, increasing SCL ownership to 74.76%.
Quarterly dividend increased by 20% for 2026 to $0.30 per share, totaling $1.20 annually.
Outlook and guidance
Marina Bay Sands is expected to exceed $2.5 billion in annual EBITDA for 2025, with potential to reach $2.7–$2.9 billion.
Macao targets $2.7–$2.8 billion in EBITDA, contingent on continued market growth and further marketing adjustments.
Major construction projects in Macao and Singapore are on track, including the $8 billion MBS Expansion Project, with completion targeted for June 2030.
The Board increased the recurring annual dividend to $1.20 per share for 2026.
Management remains optimistic about growth, citing benefits from recent capital investments and expanding travel and tourism in Asia.
Why increase SCL ownership to 74.76%?
Explain the MBS hold-adjusted win revision.
What drives Four Seasons Luxury Retail sales?
Macau market share path to target EBITDA?
Baccarat side bet impact on hold rate?
MBS room rate strategy?
Macao Baccarat side bet impact on hold?
Macao marketing changes driving share gains?
New market development opportunities update?
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Las Vegas Sands earnings date
Q4 202528 Jan, 2026
Next Las Vegas Sands earnings date
Q4 202528 Jan, 2026
The essential earnings season companion
The #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Las Vegas Sands Corp., develops, owns, and operates integrated resorts in Asia and the United States. It also manages gaming operations in Macau, Singapore, and Bethlehem, Pennsylvania; manufactures slot machines; and provides online support services that assist customers from around the world to play casino games using personal computers and mobile devices. The company's Las Vegas Sands Corp. Venetian Macao Resort Hotel is located on the Cotai Strip of Macau; Venetian Macao LLC (Venetian) manages the property and Venetian Hospitality Ltd. (VHL) leases and operates it for a fee. Las Vegas Sands Corp. is based in Las Vegas, Nevada.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage