Las Vegas Sands Corp.

What does Las Vegas Sands own?

Las Vegas Sands owns Marina Bay Sands in Singapore outright and holds approximately 74.8% of Sands China Ltd., which operates The Venetian Macao, The Londoner Macao, The Parisian Macao, The Plaza and Four Seasons Macao, and Sands Macao. It sold its Las Vegas properties in 2022 and now operates entirely in Asia.

Is Las Vegas Sands publicly traded?

Yes. The company trades on the New York Stock Exchange under the ticker LVS and is a member of the S&P 500. Its Macao subsidiary, Sands China Ltd., separately trades on the Hong Kong Stock Exchange under ticker 1928.

Who owns Las Vegas Sands?

The public owns all outstanding shares, but the Adelson family is the dominant shareholder group. Dr. Miriam Adelson, widow of founder Sheldon Adelson, and family trusts hold roughly half of the common stock. Chairman and CEO Patrick Dumont is Adelson's son-in-law.

Who founded Las Vegas Sands?

Sheldon Adelson founded the company in 1988 after purchasing the Sands Hotel in Las Vegas, using wealth from his COMDEX trade show business. He built The Venetian, expanded into Macao and Singapore, and led the company until his death in January 2021.

Where is Las Vegas Sands headquartered?

The company is headquartered in Las Vegas, Nevada, USA. Despite the name and headquarters location, it owns no Las Vegas casino properties, having sold The Venetian and Palazzo resorts in 2022.

Why did Las Vegas Sands sell its Las Vegas casinos?

The company sold The Venetian, The Palazzo, and Sands Expo to VICI Properties and Apollo Global Management for $6.25 billion in 2022. Management concluded that growth and returns in Macao and Singapore exceeded what the Las Vegas assets could deliver, and redirected the capital toward Asian expansion and shareholder returns.

Sheldon Adelson bought the aging Sands Hotel and Casino on the Las Vegas Strip in 1988, funded by the fortune he had built running COMDEX, the computer trade show business he founded and sold to SoftBank in 1995 for more than $800 million. He demolished the Sands and opened The Venetian in 1999, an all-suite resort with canals and gondolas that redefined the upscale end of the Strip. The Venetian's integrated convention business, seeded by Adelson's trade show experience, became the template for everything that followed.

The pivotal move came in Macao. When the Macao government ended Stanley Ho's 40-year casino monopoly in 2002, Adelson secured one of the new concessions. Sands Macao opened in May 2004 as the first US-operated casino in the territory and reportedly recouped its roughly $265 million cost in under a year. Adelson then built the Cotai Strip on reclaimed land between the islands of Taipa and Coloane. The Venetian Macao opened in 2007 as the anchor, followed by what is now The Londoner Macao in 2012 and The Parisian Macao in 2016. Sands China Ltd., the vehicle for the Macao operations, listed on the Hong Kong Stock Exchange in 2009.

Singapore was the second masterstroke. Las Vegas Sands won one of two integrated resort licenses in 2006 and opened Marina Bay Sands in 2010 at a cost of approximately $5.6 billion, then the most expensive standalone casino property ever built. Its three hotel towers topped by the SkyPark made it an instant architectural landmark and a consistent generator of more than $2 billion of annual EBITDA.

Adelson died in January 2021, and longtime executive Robert Goldstein became chairman and CEO. In February 2022 the company completed the sale of its Las Vegas properties to VICI Properties and Apollo Global Management for $6.25 billion, exiting the city where it was founded to concentrate on Asian growth markets. In December 2022, Sands China secured a new 10-year Macao gaming concession running through 2032, with a commitment to invest 35.8 billion patacas, approximately $4.5 billion, largely in non-gaming attractions.

In 2025 the company purchased $483 million of additional Sands China stock, raising its stake to 74.8%, and broke ground on an approximately $8 billion expansion of Marina Bay Sands: a 55-story all-suite tower with 570 suites, a 15,000-seat arena, and a rooftop attraction called the Skyloop, targeted to open around 2031. Patrick Dumont, the company's president and chief operating officer and Adelson's son-in-law, became chairman and CEO on March 1, 2026, with Goldstein staying on as senior advisor through 2028.

For FY2025, net revenue rose 15.2% to $13.02 billion and net income reached $1.63 billion. The company returned $2.25 billion to shareholders through buybacks and paid $694 million in dividends.

The company has faced repeated regulatory scrutiny over its China operations. In 2016 it paid a $6.96 million penalty to settle an SEC investigation into violations of the Foreign Corrupt Practices Act related to payments to a consultant in Macao, and it resolved a related Justice Department inquiry the following year. In 2018 it settled a long-running wrongful termination suit by former Sands China CEO Steven Jacobs, whose allegations about Macao operations had triggered parts of the federal investigation.

Sheldon Adelson's status as one of the largest donors in American politics also drew public scrutiny of the family's political influence, particularly around online gambling prohibition efforts and China policy. Since his death, Miriam Adelson has continued large-scale political giving, which the company discloses as personal activity rather than corporate spending.

Regulatory exposure is a constant in this business. The Macao concession terms require heavy non-gaming investment and give the government broad oversight, while Singapore's Casino Regulatory Authority maintains strict control over expansion plans and local entry rules.