Las Vegas Sands Q3 revenue falls 3.5% to $3.22bn, missing analyst consensus

Las Vegas Sands reported third-quarter 2026 revenue of $3.22 billion, a 3.5% decline from the same period a year earlier. The figure came in below the Zacks Consensus Estimate of $3.32 billion. The shares were trading at $37.51 at the time of the source report.

Profitability also weakened. Net income came to $352 million, compared with $491 million in the third quarter of 2025, while consolidated adjusted property EBITDA fell to $1.1 billion from $1.3 billion. Weaker results at flagship properties such as Marina Bay Sands and The Londoner weighed on the total.

Some assets bucked the trend. The Plaza Macao and Four Seasons Macao recorded $238 million in revenue, up 15.5%, while The Parisian Macao rose 6% year over year to $231 million. These gains were not enough to offset the declines elsewhere in the portfolio.

To address shareholder concerns, the company repurchased $950 million of common stock during the quarter and announced a 20% increase in its quarterly dividend to $0.30 per share. CEO Patrick Dumont said the company believes the trends of economic growth and wealth creation will continue.

Las Vegas Sands is continuing a major expansion project at Marina Bay Sands in Singapore, which it expects to deliver significant returns. In Macau, the Venetian is due for an extensive renovation aimed at attracting more premium customers. Sands China has committed roughly $4.5 billion of investment in the region through 2032, with 93% of that earmarked for non-gaming projects, in line with Macau's diversification push. Dumont said both markets would benefit over the long term from more high-level hospitality capacity.

Company officials again rejected any move into iGaming or prediction markets, keeping the focus on international casino growth. The operator said it is exploring artificial intelligence to improve the customer experience, business intelligence and promotional offers. It remains to be seen whether such initiatives can offset the third-quarter slowdown in time to improve year-end results.