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Las Vegas Sands 8-K Report, Financial Results (Jul 22, 2026)

Reports
Earnings & Results·Exhibits & Filings
Filing Date
Filed July 22, 2026
Period End
July 22, 2026
Security
LVS
In the record · 2016–202610-K1110-Q338-K174

LVS filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 174 current reports (8-K) between 2016 and 2026.

  1. Material agreement8-K · Mar ’17Mar ’17
  2. Leadership change8-K · Jun ’19Jun ’19
  3. Leadership change8-K · Jul ’21Jul ’21
  4. Material agreement8-K · May ’25May ’25

01—Abstract

Summary

Summary of the 8-K filed July 22, 2026. Cited figures are marked; the original filing is the authoritative source.

Las Vegas Sands Corp. furnished this Current Report under Item 2.02 to announce its results for the second quarter ended June 30, 2026, as set forth in Exhibit 99.1 press release dated July 22, 2026.

Net revenues were $3.15 billion, compared to $3.18 billiona in the prior year quarter, and operating income was $618 million, versus $783 million a year earlier. Net income was $373 million, compared to $519 million, and diluted earnings per share were $0.53, compared to $0.66. Consolidated adjusted property EBITDA was $1.12 billion, compared to $1.33 billion.

Management attributed the Macao shortfall to unusually low hold in rolling play, while noting volume growth across all Macao gaming segments and continued strong performance at Marina Bay Sands. Capital return was a major theme. The company repurchased $787 millionb of common stock during the quarter, about 15 million shares at a weighted average price of $52.37, leaving $29 million remaining under the program at June 30, 2026.

On July 21, 2026, the Board increased the remaining repurchase authorization to $6.0 billionc and extended the expiration to July 21, 2029. The quarterly dividend remained $0.30 per share, with the next payment on August 12, 2026, to holders of record on August 4, 2026. On the balance sheet, unrestricted cash was $3.38 billion at June 30, 2026, and total debt outstanding, net of deferred offering costs and original issue discounts, excluding finance leases, was $15.11 billion.

The company received $1.26 billiond in May 2026 from full repayment of a seller financing loan tied to the sale of the Las Vegas real property and operations. Available borrowings were $4.26 billion under revolving facilities and $4.68 billion under a delayed draw term loan for the MBS Expansion Project. Quarterly capital expenditures totaled $332 million.

02—Key points

Key Highlights

  1. Net revenues of $3.15 billion, down from $3.18 billion a year earlier; operating income of $618 million versus $783 million.
  2. Net income of $373 million and diluted EPS of $0.53, compared to $519 million and $0.66 in Q2 2025.
  3. Consolidated adjusted property EBITDA of $1.12 billion versus $1.33 billion; Macao Operations adjusted property EBITDA of $430 million versus $566 million, while Marina Bay Sands was $689 million versus $768 million.
  4. Management cited unusually low hold in rolling play as a negative factor in Macao results, despite volume growth across all Macao gaming segments.
  5. Repurchased $787 million of common stock in the quarter; on July 21, 2026, the Board raised the remaining authorization to $6.0 billion and extended it to July 21, 2029.
  6. Quarterly dividend of $0.30 per share maintained, payable August 12, 2026, to stockholders of record on August 4, 2026.
  7. Unrestricted cash of $3.38 billion and total debt of $15.11 billion at June 30, 2026, after receiving $1.26 billion from repayment of the Las Vegas seller financing loan in May 2026.

03—Questions

Frequently Asked Questions

  1. Why did Las Vegas Sands' earnings decline in the second quarter of 2026?

    Net income fell to $373 million from $519 million, and operating income declined to $618 million from $783 million. Management attributed the weaker reported results in Macao to unusually low hold in rolling play, even though volumes grew across all Macao gaming segments. Marina Bay Sands adjusted property EBITDA also declined to $689 million from $768 million.

  2. How much capital did the company return to shareholders, and what is the new buyback capacity?

    The company repurchased $787 million of common stock during the quarter, about 15 million shares at a weighted average price of $52.37. On July 21, 2026, the Board increased the remaining authorization to $6.0 billion and extended the expiration date to July 21, 2029. The quarterly dividend remains $0.30 per share.

  3. What is the company's current liquidity and debt position?

    At June 30, 2026, unrestricted cash was $3.38 billion and total debt outstanding, net of deferred offering costs and original issue discounts and excluding finance leases, was $15.11 billion. The company had $4.26 billion available under its U.S., SCL and Singapore revolving credit facilities and $4.68 billion available under a delayed draw term loan for the MBS Expansion Project.

  4. What were the major non-operating items affecting the quarter?

    Interest expense, net of amounts capitalized, was $189 million compared to $194 million a year earlier, and the weighted average borrowing cost was 4.6% versus 4.8%. The effective income tax rate rose to 19.1% from 14.8%, primarily driven by a 17% statutory rate on Singapore operations. In May 2026, the company also received $1.26 billion from full repayment of the seller financing loan related to the Las Vegas real property sale.

04—Continue

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