Las Vegas Sands published third-quarter 2026 results on October 21. Revenue at Sands China, its Macau unit, rose 1.4% to $1.93 billion, while net profit fell 29.8%, to $191 million from $272 million in the third quarter of 2025.
The group as a whole fared worse. Net revenue came to $3.22 billion against $3.33 billion a year earlier. Operating profit dropped to $618 million from $719 million. Net profit fell to $352 million from $491 million. Adjusted property EBITDA declined to $1.12 billion from $1.34 billion.
Chairman and CEO Patrick Dumont said volumes rose across all gaming segments in Macau compared with last year, which he linked to investments in service and hotel offerings. On Marina Bay Sands in Singapore, he described the results as “solid” and spoke of an expansion that will add rooms and an arena.
The effective tax rate rose to 22.5% from 15.6% a year earlier. The company attributes it to Singapore’s 17% rate.
The company returned more to shareholders: it bought back $950 million of shares in the quarter, leaving $5.06 billion under the buyback program. It also acquired 62 million Sands China shares for $101 million (HK$793 million at deal rates), lifting its stake in the unit to 75.56%. The next quarterly dividend of $0.30 per share will be paid on November 10. The board raised the recurring dividend for 2027 by 20%, to $1.44 per share per year.
Capital expenditure for the quarter totaled $281 million, of which $154 million was in Macau and $121 million at Marina Bay Sands. The release contains no data on the unit’s share of the Macau market or a revenue breakdown by property.
