Las Vegas Sands Corp.

Overview

• Fortune 500 company and a leading global developer and operator of Integrated Resorts that combine premium accommodations, gaming, entertainment, retail, convention/exhibition space, and dining.
• Primary markets: Macao (via Sands China Ltd., SCL) and Singapore (Marina Bay Sands).
• Business focus: mass-market gaming as the core profitable segment, with VIP/premium offerings; extensive non-gaming amenities (retail, entertainment, MICE) to drive visitation, length of stay, and spend.
• Corporate responsibility: Sands ECO360 for environmental initiatives and Sands Cares for charitable giving and community engagement, with emphasis on people, communities and the planet.

Key corporate and ownership details

• Ownership: LVSC owns 74.80% of Sands China Ltd. (SCL).
• Public status: Common stock trades on the NYSE under the symbol LVS.
• Headquarters: 5420 S. Durango Dr., Las Vegas, NV 89113; phone (702) 923-9000.
• Primary operating and development focus: two geographic hubs—Macao and Singapore—plus ongoing development projects and related concessions.

Geographic footprint and flagship properties

Macao (SCL-operated Integrated Resorts on Cotai Strip)

• The Venetian Macao

  • Gaming space: ~503,000 sq ft (gaming and support)
  • Tables/slots: ~659 tables; ~1,137 slot machines/ETGs
  • Hotel: 2,905 luxury suites
  • Non-gaming: ~1.2 million sq ft of convention facilities; 66 restaurants; 359 stores in Shoppes at Venetian
  • Entertainment: 1,800-seat theater; 14,000-seat Venetian Arena

• The Londoner Macao (largest Cotai Strip property)

  • Hotel towers: Londoner Court (368 suites/400 rooms, St. Regis branding), Conrad (659 rooms/suites), The Londoner Hotel (594 London-themed suites), Londoner Grand (2,405 rooms/suites)
  • Gaming: ~400,000 sq ft; ~500 tables; ~1,285 slot machines/ETGs
  • Meetings: ~358,000 sq ft of meeting space
  • Entertainment: 1,701-seat theater; 6,000-seat Londoner Arena
  • Retail/food: ~518,000 sq ft retail; ~172 stores; ~51 restaurants

• The Parisian Macao

  • Gaming: ~272,000 sq ft; ~255 tables; ~1,008 slots/ETGs
  • Rooms: 2,541
  • Shopping/dining: Shoppes at Parisian ~297,000 sq ft; 23 restaurants
  • Non-gaming: ~62,000 sq ft meeting space; 1,200-seat theater
  • Landmark: half-scale Eiffel Tower replica with viewing platform and restaurant

• The Plaza Macao and Four Seasons Macao

  • Gaming: ~108,000 sq ft; ~106 tables; ~13 slots/ETGs
  • Rooms: ~360
  • Four Seasons Grand Suites: 289 luxury suites
  • Shoppes at Four Seasons: ~262,000 sq ft retail; 136 stores; 10 restaurants
  • Paiza Mansions: 19 ultra-exclusive, invitation-only units

• Sands Macao

  • Gaming: ~176,000 sq ft; ~160 tables; ~257 slots/ETGs
  • Hotel: 289 suites; spa and restaurants

Singapore

• Marina Bay Sands
  • Hotel capacity: three 55-story towers with 1,844 rooms (775 suites)
  • SkyPark: outdoor recreation area with a 150-meter infinity pool
  • Gaming: ~157,000 sq ft; ~568 tables; ~3,000 slots/ETGs
  • Retail/food/entertainment: The Shoppes at Marina Bay Sands ~794,000 sq ft
  • Convention/entertainment: ~1.2 million sq ft of meeting/convention space; dedicated theater for Broadway shows and events

Market scope and competitive landscape

• Macao: largest global gaming market and the only Chinese market with legalized casino gaming; six concessionaires operate in the market alongside other regional and global destinations.
• Singapore: two licensed operators (LVSC and Resorts World Sentosa) with a regulatory framework that limits licenses through at least January 1, 2031. The Gambling Regulatory Authority (GRA) does not publish official gaming revenue figures.

Customer and visitation metrics

• Macao visitation: approximately 40 million visitors in 2025 (up 14.7% vs. 2024).
• Singapore international visitors: approximately 16.9 million international visitors in the year ended December 31, 2025 (Singapore Tourism Board).

Financial performance and mix

• 2025 contribution to adjusted property EBITDA by region: Macao 44%, Singapore 56%.
• Revenue mix: mass-market gaming is a major, higher-margin component; at Marina Bay Sands, mass tables and slots contributed roughly two-thirds of total gross gaming revenue over the previous five years.

Strategic emphasis and capabilities

• MICE and entertainment: ~2.8 million sq ft of global MICE space; entertainment programming is a key traffic driver and growth lever.
• Brand and partnerships: uses recognizable hotel brands and management partnerships to attract a broad customer base; properties are interconnected and themed to broaden market appeal.
• Operational scale: pursues cost advantages through scale in utilities, staffing, centralized procurement, and shared administrative functions.
• ESG and sustainability: implements environmental practices through Sands ECO360 with a focus on responsible sourcing, energy efficiency, waste and water management, and renewable transition.

Development and regulatory context

• Macao concession: operating under a 10-year gaming concession expiring December 2032.
• Singapore concession: Marina Bay Sands operates under a 30-year casino concession established in August 2006 and is regulated by the GRA.

Notes

• Investor communications emphasize non-gaming attractions (retail, dining, entertainment, MICE) as core to visitation and cash flow diversification.

Summary: Las Vegas Sands operates luxury Integrated Resorts in Macao and Singapore with a strong emphasis on mass-market gaming complemented by extensive non-gaming amenities. The portfolio includes The Venetian Macao, The Londoner Macao, The Parisian Macao, The Plaza Macao, Four Seasons Macao, Sands Macao, and Marina Bay Sands. In 2025, Macao and Singapore contributed 44% and 56% of adjusted property EBITDA, respectively, and reported visitation figures of about 40 million for Macao and about 16.9 million international visitors to Singapore.