Las Vegas Sands Q3 operating profit misses estimates as Marina Bay Sands revenue falls

Overview

• Global integrated resort operator's Q3 revenue declined yr/yr and missed analyst expectations

• Q3 operating profit missed analyst estimates

• Company repurchased $950 mln in stock and raised dividend 20% for 2027

Outlook

• Las Vegas Sands raises annual dividend for 2027 to $1.44 per share

• Company expects growth in Singapore after completion of ongoing Marina Bay Sands expansion

• Las Vegas Sands plans continued investment in Macao to support future growth

Result Drivers

• MACAO GAMING SEGMENTS - Co said investments in service and hospitality drove growth in gaming volumes across all segments in Macao

• SINGAPORE GAMING PERFORMANCE - Marina Bay Sands revenue and adjusted property EBITDA fell as lower rolling volume and a weaker non-rolling win rate offset growth in non-gaming revenue

• CAPITAL INVESTMENT - Co said capital investment programs position properties to benefit from demand for premium travel and entertainment

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 15 "strong buy" or "buy", 7 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the casinos & gaming peer group is "buy"

• Wall Street's median 12-month price target for Las Vegas Sands Corp. is $55.00, about 44.1% above its October 20 closing price of $38.17

• The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)