Las Vegas Snds Stock Price, News & Analysis

Las Vegas Sands (NYSE: LVS) reported strong financial results for Q2 2024, with net revenue of $2.76 billion and net income of $424 million. The company's consolidated adjusted property EBITDA reached $1.07 billion, with Macao contributing $561 million and Marina Bay Sands in Singapore adding $512 million. LVS repurchased $400 million of common stock during the quarter.

The company saw growth in both Macao and Singapore compared to Q2 2023, despite visitation in Macao remaining below pre-pandemic levels. LVS continues to invest in capital expenditure programs in both markets to enhance their appeal as business and leisure tourism destinations. The company's financial strength supports ongoing investments, pursuit of growth opportunities, and returns to stockholders.

The 2024 Sands Shopping Carnival in Macao set a new record with 120,000 visits over four days, supporting the government's 'tourism+' initiative. The event featured over 580 booths, including 325 dedicated to local SME suppliers. Highlights included:

- MOP 1 products and up to 90% discounts from international brands
- Free shuttle service and parking
- Sands Cares Ambassadors accompanying community groups
- Food Court with social enterprises
- Cultural and Creative zone with 10 community organizations
- Talent contests attracting Greater Bay Area participants
- Eco-friendly initiatives aligned with Sands ECO360 strategy

The carnival has welcomed over 540,000 visitors since its 2020 debut, becoming an annual signature event for Sands China and supporting Macao's economic revival efforts.

The 2024 Nevada Youth Homelessness Summit, organized by Nevada Partnership for Homeless Youth (NPHY) and Las Vegas Sands (NYSE: LVS), is set for November 8 at Las Vegas City Hall. Registration opens August 5 at nphy.org/Summit24. This 8th annual event aims to address Nevada's growing youth homelessness crisis and develop the state's first standalone plan to end youth homelessness.

The summit comes as Nevada faces a 14% increase in youth homelessness from 2022 to 2023 and an extreme shortage of affordable housing. The event will bring together diverse stakeholders, including youth with lived experience, service providers, policymakers, and business leaders, to explore statewide efforts and concrete steps for achieving transformative change.

Las Vegas Sands (NYSE: LVS) has announced the upcoming release of its second quarter 2024 financial results. The company will disclose these results on Wednesday, July 24, 2024, after the market closes. Following the release, LVS will host a conference call at approximately 1:30 p.m. Pacific Time to discuss the financial outcomes. For those interested in following the discussion, a webcast of the conference call will be accessible through the company's investor relations website at www.investor.sands.com.

Las Vegas Sands (NYSE: LVS) has released its 2023 ESG report, which reviews the midpoint of its 2021-2025 ambitions. The company has made significant strides in emissions reduction, reducing emissions by 50% from the 2018 baseline, surpassing its 2025 target of a 17.5% reduction. In workforce development, Sands has invested $181 million towards a $200 million goal, and in community volunteerism, it has logged 222,823 hours towards a new goal of 250,000 hours by 2025.

Key achievements in 2023 include Sands China's relicensing in Macao, the grand opening of The Londoner Macao, and the completion of phase one renovation at Marina Bay Sands. The company also received LEED Gold Certification for its new Las Vegas headquarters. Additionally, Sands spent $2 billion on local procurement and launched several initiatives to support local businesses and innovation.

Sands remains committed to its ESG goals, with continued efforts in low-carbon transition, waste reduction, and community support. The company was recognized by Fortune and Newsweek for its responsible and sustainable business practices.

Las Vegas Sands (NYSE: LVS) announced a multi-year partnership with six-time PGA Tour winner Collin Morikawa. Morikawa will support Sands' initiatives in resort programs and community development, focusing on youth and community revitalization. A $100,000 donation to the Maggie Hathaway Golf Course restoration in LA is part of the kickoff. Morikawa, who has a history of community support, will also aid in golf clinics and revitalization projects, including a potential integrated resort in Long Island if Sands secures a gaming license. The partnership aligns both parties in their commitment to youth development and strong communities.

On June 18, 2024, the UN observed Sustainable Gastronomy Day, emphasizing sustainable practices in cuisine. Sands, headquartered in Las Vegas, has adopted new sustainable initiatives, such as using Ōra King salmon in its Café Veranda. This high-quality, farm-raised salmon is certified by the Global Aquaculture Alliance for Best Aquaculture Practices.

Sands is also educating its team members and resort staff about sustainable food strategies. Over 200 restaurants are involved in promoting sustainable gastronomy. Recent initiatives include transitioning to cage-free eggs by 2028 and eliminating certain seafood like shark fin and bluefin tuna.

Sands' sustainability focus aims to impact the entire food value chain, from procurement to consumer education. Significant efforts include sourcing seafood certified by the Marine Stewardship and Aquaculture Stewardship Councils. For more information, readers are directed to Sands' 2023 ESG Report.

Las Vegas Sands (NYSE:LVS) and the Thurgood Marshall College Fund (TMCF) have selected 15 students from 10 historically Black colleges and universities (HBCUs) to participate in the Sands Hospitality Immersion Program in Las Vegas from June 16-22, 2024. This annual program aims to provide students with in-depth exposure to the hospitality industry through a series of educational sessions, industry interactions, and hands-on experiences. Participants, who are rising juniors and seniors, will engage with professionals across various hospitality sectors, enhancing their career prospects in travel, tourism, and leisure. The initiative supports LVS's commitment to workforce development and diversity in the hospitality industry.

Las Vegas Sands commemorates World Oceans Day 2024 by announcing multiple initiatives aimed at protecting ocean health. Notably, Marina Bay Sands collaborates with the World Wide Fund for Nature (WWF) to ensure sustainable seafood sourcing and ocean resiliency. This includes a $400,000 investment in aquaculture and fishery programs in the Asia-Pacific region, resulting in certifications like the ASC for shrimp farms in Malaysia. Sands China is actively participating in the Hong Kong Sustainable Seafood Coalition to enhance seafood traceability and sustainability.

The company’s efforts extend to responsible seafood sourcing policies, eliminating shark fin and limiting bluefin tuna in its restaurants. They also emphasize educational initiatives through art and science exhibits to raise awareness about ocean health. The ArtScience Museum’s Sensory Odyssey exhibit, for example, supported mangrove restoration in Malaysia.

These initiatives reflect Sands' commitment to sustainability, aiming to promote ocean conservation and responsible seafood practices.