---
title: "CICC Cuts Las Vegas Sands Corp.  TP to USD51.8 as 2Q EBITDA Misses Market Expectations"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/293692722.md"
description: "CICC cut Las Vegas Sands Corp.'s target price by 23% to USD51.8 after its Q2 EBITDA missed market expectations. Net revenue fell 1% YoY, while adjusted property EBITDA dropped 16% YoY to USD1.119 billion, below the consensus of USD1.288 billion. The decline was attributed to lower VIP hold rates at Sands China and diverted gaming demand in Singapore and Macau during the World Cup. CICC maintained an Outperform rating."
datetime: "2026-07-24T02:40:49.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/293692722.md)
  - [en](https://longbridge.com/en/news/293692722.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/293692722.md)
generator: "portal-rs"
---

# CICC Cuts Las Vegas Sands Corp.  TP to USD51.8 as 2Q EBITDA Misses Market Expectations

CICC published a report saying that Las Vegas Sands Corp. (LVS.US) 's 2Q EBITDA came in below market consensus expectations. Net revenue was USD3.154 billion, down 1% YoY and down 12% QoQ. Adjusted property EBITDA was USD1.119 billion, down 16% YoY and down 21% QoQ, below the market consensus forecast of USD1.288 billion. Marina Bay Sands' 2Q net revenue was USD1.38 billion, down 1% YoY and down 7% QoQ. Adjusted property EBITDA was USD689 million, down 10% YoY and down 13% QoQ.

The broker believed that Las Vegas Sands Corp.'s results were mainly dragged down by the lower VIP hold rate of SANDS CHINA LTD (01928.HK) +0.140 (+1.010%) Short selling $103.52M; Ratio 20.831% , while gaming demand in Singapore and Macau, China was diverted during the World Cup period. It maintained an Outperform rating and cut the TP by 23% to USD51.8 due to valuation adjustments. (ha/u)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-23 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**