Las Vegas Sands LVS Business Segments
| Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | ||
|---|---|---|---|---|---|---|
| Net revenues by Product | ||||||
| Casino | $2.74B-0.1% | $2.74B+9.4% | $2.51B+3.8% | $2.42B+13.5% | $2.13B+1.1% | |
| Food and Beverage | $176M-7.9% | $191M+15.8% | $165M+12.2% | $147M+4.3% | $141M-10.2% | |
| Mall | $204M-10.9% | $229M+15.1% | $199M+6.4% | $187M+0.5% | $186M-14.7% | |
| Rooms | $377M-0.5% | $379M+1.3% | $374M+8.4% | $345M+6.5% | $324M+2.2% | |
| Accounts receivable, gross by Product | ||||||
| Casino | $822M-0.7% | $828M+30.2% | $636M+0.5% | $633M+22.0% | $519M+12.3% | |
| Mall | $31M-61.3% | $80M+73.9% | $46M+53.3% | $30M-3.2% | $31M-50.8% | |
| Rooms | $19M-13.6% | $22M-4.3% | $23M+9.5% | $21M+10.5% | $19M-32.1% | |
| Cost of revenue by Product | ||||||
| Casino | $1.51B-0.7% | $1.52B+12.0% | $1.35B+8.9% | $1.24B+7.3% | $1.16B-1.1% | |
| Food and Beverage | $149M-8.0% | $162M+12.5% | $144M+10.8% | $130M+3.2% | $126M-5.3% | |
| Mall | $25M+8.7% | $23M-8.0% | $25M+13.6% | $22M0.0% | $22M-12.0% | |
| Rooms | $92M-3.2% | $95M+6.7% | $89M+2.3% | $87M+7.4% | $81M+2.5% | |
| Net revenues by Geography | ||||||
| Macao | $2.1B— | —— | $1.9B+6.2% | $1.79B+5.1% | $1.7B— | |
| Singapore | $1.49B— | —— | $1.43B+3.2% | $1.39B+19.4% | $1.16B— | |
| United States | -$87M— | —— | -$80M-19.4% | -$67M-9.8% | -$61M— | |
| Revenues before intercompany eliminations by Geography | ||||||
| Macao | $2.11B— | —— | $1.91B+6.1% | $1.8B+5.1% | $1.71B— | |
| Singapore | $1.49B— | —— | $1.44B+3.5% | $1.39B+19.3% | $1.16B— | |
| United States | $87M— | —— | $80M+19.4% | $67M+9.8% | $61M— | |
| Long-term debt, gross by Geography | ||||||
| Macao | $1.9B0.0% | $1.9B— | —— | —— | —— | |
| Singapore | $2.85B-1.0% | $2.88B— | —— | —— | —— | |
| United States | $1B0.0% | $1B— | —— | —— | —— | |
| Other Cost and Expense, Operating by Geography | ||||||
| Macao | $1.48B— | —— | $1.31B+6.0% | $1.23B+4.9% | $1.17B— | |
| Singapore | $699M— | —— | $693M+11.8% | $620M+11.1% | $558M— | |
| United States | $87M— | —— | $80M+19.4% | $67M+9.8% | $61M— | |
| Adjusted property ebitda by Geography | ||||||
| Macao | $633M— | —— | $601M+6.2% | $566M+5.8% | $535M— | |
| Singapore | $788M— | —— | $743M-3.3% | $768M+26.9% | $605M— | |
| United States | $0— | —— | $0— | $0— | $0— | |
| Total Assets by Geography | ||||||
| Macao | $10.63B+0.8% | $10.55B+3.6% | $10.18B+1.2% | $10.06B-1.2% | $10.18B-8.7% | |
| Singapore | $7.39B-4.8% | $7.76B+4.0% | $7.46B-0.3% | $7.48B+7.7% | $6.95B+12.5% | |
| Other expenses by Geography | ||||||
| Macao | $286M— | —— | $257M+15.2% | $223M+2.3% | $218M— | |
| Singapore | $223M— | —— | $217M+12.4% | $193M+8.4% | $178M— | |
| United States | $87M— | —— | $80M+19.4% | $67M+9.8% | $61M— | |
| Payroll and related expenses by Geography | ||||||
| Macao | $355M— | —— | $314M-2.5% | $322M+2.5% | $314M— | |
| Singapore | $204M— | —— | $196M+6.5% | $184M+7.0% | $172M— | |
| United States | $0— | —— | $0— | $0— | $0— | |
| Statutory tax rate by Geography | ||||||
| Macao | 12%— | —— | —— | —— | —— | |
| Singapore | 17%— | —— | —— | —— | —— | |
| Gaming taxes by Geography | ||||||
| Macao | $840M— | —— | $734M+7.0% | $686M+6.9% | $642M— | |
| Singapore | $272M— | —— | $280M+15.2% | $243M+16.8% | $208M— | |
| United States | $0— | —— | $0— | $0— | $0— | |
| Finance lease, liability by Geography | ||||||
| Macao | $32M-8.6% | $35M+52.2% | $23M-11.5% | $26M+13.0% | $23M+91.7% | |
| Singapore | $1M0.0% | $1M0.0% | $1M0.0% | $1M0.0% | $1M0.0% | |
| United States | $122M+0.8% | $121M+1.7% | $119M+0.8% | $118M+0.9% | $117M+1.7% | |
| Debt instrument, interest rate, stated percentage by Geography | ||||||
| Macao | 5.4%— | —— | —— | —— | —— | |
| United States | 6.2%— | —— | —— | 6%— | —— | |
| Debt instrument, interest rate, period end rate by Geography | ||||||
| Macao | 4.9%— | —— | 5.2%+2.8pp | 2.4%— | —— | |
| Singapore | 2.2%— | —— | 2.7%-0.6pp | 3.3%-0.1pp | 3.3%— | |
| CapEx by Geography | ||||||
| Macao | $89M— | —— | $99M-28.3% | $138M-29.9% | $197M— | |
| Singapore | $102M— | —— | $121M-6.2% | $129M-26.3% | $175M— | |
| Line of Credit Facility, Remaining Borrowing Capacity by Geography | ||||||
| Macao | $13.3B— | —— | $19.5B0.0% | $19.5B-39.9% | $32.45B— | |
| Singapore | $588M— | —— | $588M0.0% | $588M0.0% | $588M— | |
| United States | $1.5B— | —— | $1.5B0.0% | $1.5B0.0% | $1.5B— |
Chart any of these lines over time, or line them up against competitors.
Compare these in charts →Questions, answered.
- How does Las Vegas Sands break its business down?
- Las Vegas Sands (LVS) reports gain (loss) on disposition of property plant equipment by business across 2 parts — Corporate and Other and The Venetian Macao. Each is extracted from the segment footnotes and tracked over time.
- Where does Las Vegas Sands's segment data come from?
- Segment breakdowns are pulled from the segment footnotes in Las Vegas Sands's SEC filings (the XBRL dimensional tags), so every line ties back to a reported figure. Switch between quarterly, annual, and TTM, or open any segment for its full history.
