Las Vegas Sands reported a mixed bag of financial results for the second quarter of 2026, as gains in the Singapore market were offset by a decline in gambling performance. For the quarter ending June 30, the company recorded revenue of $3.15 billion, slightly down from $3.18 billion during the same period last year. Operating income saw a significant drop, falling to $618 million from $783 million, while net income decreased by 28%, totaling $373 million compared to $519 million in Q2 2025. Additionally, consolidated adjusted property EBITDA decreased to $1.12 billion, down from $1.33 billion.
Patrick Dumont, Chairman and Chief Executive Officer, emphasized the company's commitment to its strategic goals in Singapore and Macao, stating, "We continued to execute our strategic objectives during the quarter in both Singapore and Macao while continuing to increase the return of capital to shareholders." In Macao, investments aimed at enhancing service and hospitality have led to increased volumes across all gaming segments compared to the previous year. However, an unusually low hold in rolling play negatively influenced the reported financial outcomes for the quarter. Meanwhile, Marina Bay Sands in Singapore continued to deliver strong financial results.
Sands China, the subsidiary responsible for managing the company's properties in Macau, reported a slight decrease in revenues, down 0.8% to $1.78 billion, with net income plummeting by 50% to $107 million.
Despite the disappointing earnings figures, Las Vegas Sands has maintained its commitment to returning capital to shareholders. During the quarter, the company purchased its own shares totaling $787 million and declared a quarterly dividend of $0.30 per share. Following the quarter's end, the board approved a new $6 billion share repurchase program, which is anticipated to run until July 2029.
By the close of the quarter, Las Vegas Sands held $3.38 billion in unrestricted cash and secured $1.26 billion from the repayment of a seller-financing loan concerning the sale of its former Las Vegas properties. Out of this amount, $332 million has been primarily allocated to support the ongoing expansion project at Marina Bay Sands.
Dumont expressed optimism for the future, asserting, "Looking ahead, we remain confident that our people, our products and our focus on delivering outstanding service, hospitality and entertainment experiences to our customers will drive growth for the company and deliver strong returns to our shareholders in the years ahead."
