What is Las Vegas Sands's macao — gaming taxes?

Las Vegas Sands (LVS) reported macao — gaming taxes of $840M in Q1 2026.

How has Las Vegas Sands's macao — gaming taxes changed year-over-year?

Las Vegas Sands's macao — gaming taxes increased by 30.8% year-over-year, from $642M to $840M.

What does macao — gaming taxes mean?

This metric represents the specific taxes levied by the Macao government on gaming revenue. These taxes are typically a significant percentage of gross gaming revenue and are a mandatory cost of doing business in the jurisdiction. It is a key factor in determining the profitability of the gaming portion of the business.

Las Vegas Sands LVS Macao — Gaming taxes

Similar metrics at other companies

WYNNTotal Macau Operations — Gaming taxes

$303.21M+28.3%

MGMMGM China — Gaming taxes

$504.28M+12.4%

CHDNGaming — Gaming Taxes

$75M+4.2%

BAL

BALYCasinos & Resorts — Gaming tax

$59.92M+105%

MGMMGM Digital — Gaming taxes

$45.63M+49.0%

CZRManaged And Branded — Gaming Taxes

$0—

Other financials

Income statement

See full

Revenue$3.6B+25.3%

Operating income$904.0M+48.4%

Net income$567.0M+61.1%

EPS (diluted)$0.85+73.5%

Balance sheet

See full

Cash & equivalents$3.5B+9.3%

Total debt$17.5B+4.2%

Total equity$1.2B-55.6%

Total assets$21.2B-0.3%

Cash flow

See full

Operating cash flow$731.0M+39.0%

CapEx$194.0M-48.8%

Free cash flow$537.0M+265%

Valuation

See full

Market cap$31.22B+3.7%

Enterprise value$45.32B+4.7%

P/E17×-4.4×

P/S2.3×-0.3×

Profitability

See full

Operating margin22.7%+2.2pp

Net margin13.4%+1.8pp

FCF margin17.1%+5.8pp

Returns & leverage

See full

Return on equity94.5%+55.3pp

Debt / equity14.6×+8.4×

Current ratio0.9×+0.3×

Where this comes from

Reported directly by Las Vegas Sands in its filing.

Tagged under the XBRL concept lvs:TaxesOnGamingRevenue.

The official record: Las Vegas Sands’s 10-Q, filed April 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Las Vegas Sands's macao — gaming taxes?: Las Vegas Sands (LVS) reported macao — gaming taxes of $840M in Q1 2026.
How has Las Vegas Sands's macao — gaming taxes changed year-over-year?: Las Vegas Sands's macao — gaming taxes increased by 30.8% year-over-year, from $642M to $840M.
What does macao — gaming taxes mean?: This metric represents the specific taxes levied by the Macao government on gaming revenue. These taxes are typically a significant percentage of gross gaming revenue and are a mandatory cost of doing business in the jurisdiction. It is a key factor in determining the profitability of the gaming portion of the business.