Las Vegas Sands

Q2 FY2026 EarningsQ2 FY26 net revenue decreased 0.7% YoY to $3.15B, with operating income down 21.1% to $618M. Macao revenue fell 0.6% to $1.78B due to Venetian room renovations and competitive pressure, while Marina Bay Sands (MBS) saw a slight 0.7% dip in revenue despite a 12.7% gain in room income. Consolidated adjusted property EBITDA fell 16.1% to $1.12B, impacted by lower VIP win percentages and increased labor costs. Diluted EPS was $0.53, down from $0.66 YoY, while the company returned $1.54B to shareholders via repurchases.