Las Vegas Snds Stock Price, News & Analysis

Las Vegas Sands Corp. (NYSE: LVS) reported its financial results for Q4 2022, revealing a net revenue of $1.12 billion, a 10.8% increase year-over-year. However, the company faced an operating loss of $166 million compared to $138 million the previous year. Despite ongoing travel restrictions impacting revenues, the recovery at Marina Bay Sands has been strong, with record mass gaming revenue. In Macao, the company received a new gaming concession, enhancing future growth potential. The full year 2022 net income reached $1.83 billion, impacted significantly by a $3.60 billion gain from the sale of Las Vegas assets.

Las Vegas Sands and Marina Bay Sands have launched a $1 million scholarship program aimed at fostering new talent in Singapore's hospitality sector through Sands Cares. Expected to benefit over 100 Singaporean students, the initiative will support those pursuing hospitality-related studies at six local institutes. This program, commencing in 2023, aligns with Sands' commitment to enhancing Singapore's tourism industry, anticipated to grow significantly post-pandemic. The scholarships aim to develop future leaders in hospitality, ultimately strengthening the region's position as a global travel hub.

Las Vegas Sands (NYSE: LVS) is set to release its fourth quarter 2022 financial results on January 25, 2023, after market close. The company will conduct a conference call to discuss the results at approximately 1:30 p.m. Pacific Time. A webcast of this call will be available at www.investor.sands.com. Sands is recognized as a leading developer and operator of Integrated Resorts that contribute significantly to tourism and local economies.

Las Vegas Sands (NYSE: LVS) plans to develop a multi-billion-dollar hospitality and casino project on Long Island, New York, following the New York State Gaming Commission's recent Request for Application. The company aims to acquire a long-term lease for the Nassau Veterans Memorial Coliseum site, securing control of up to 80 acres. The project is expected to generate substantial tax revenue and create thousands of jobs, while emphasizing community collaboration and sustainability. It will include luxury hotels, entertainment venues, and a casino occupying less than 10% of the total area.

Las Vegas Sands has unveiled its ambitious plan to cut carbon emissions by 17.5% by 2025 as part of its 2021 ESG Report. The strategy focuses on energy efficiency, renewable energy purchases, and reducing transportation emissions. Noteworthy initiatives include the Sands ECOTracker program and increasing electric vehicle charging stations. In 2021, Sands invested $4.3 million in energy initiatives and $62 million in sustainable services, earning recognition from top sustainability benchmarks, including the Dow Jones Sustainability Indices.

Las Vegas Sands has designated July as Plastic-Free July, focusing on the reduction of plastic waste and pollution. The company has implemented a five-point strategy including:

• Eliminate: Phasing out single-use plastics and using bamboo/wood alternatives.
• Reuse: Implementing reusable products across its resorts.
• Replace: Transitioning to recyclable materials.
• Recycle: Enhancing recycling efforts through training and audits.
• Research and Collaborate: Partnering with local suppliers and educational institutions.

This initiative is part of Sands' commitment to environmental sustainability.

Las Vegas Sands announced that Green Our Planet, a nonprofit focused on STEM education through school gardening, is achieving significant growth during its time in the Sands Cares Accelerator. Founded in 2013, the organization now serves 160,000 students across 16 states and aims to launch 250 more garden programs in the upcoming school year. Green Our Planet’s HydroHealth initiative, which connects workplace hydroponic gardens to school gardens, has established 10 programs at corporations, further expanding its reach and impact.

Las Vegas Sands supported the opening of the Healthy Asians & Pacific Islanders (HAPI) Medical Center in Las Vegas, aiding the AAPI community in accessing culturally and linguistically appropriate health services. This initiative is a collaboration with the Asian Community Development Center (ACDC), which received $100,000 from Sands to facilitate the center's launch. The medical center aims to serve underserved populations with a bilingual staff and culturally sensitive care, addressing significant barriers to health access for AAPI residents in the region.

Sands China has been active in Macao, with its Sands Cares Ambassadors dedicating over 175,000 hours of volunteer service since 2009. In 2022, the ambassadors assembled 800 hygiene kits for vulnerable residents and supported COVID-19 testing initiatives. They also provided enrichment activities for youth with disabilities and assembled 2,600 food kits for families in need through partnerships with local organizations. The company emphasizes its commitment to community well-being, as stated by Dr. Wilfred Wong, president of Sands China.