Las Vegas Sands
{{short description|American casino and resort company}}
{{For|the historic hotel and casino that the company was named after|Sands Hotel}}
{{Use mdy dates|date=April 2022}}
{{Infobox company
| name = Las Vegas Sands Corp.
| logo = 200px
| type = Public
| traded_as = {{ubl|{{NYSE|LVS}}|S&P 500 component}}
| industry = Hospitality, tourism, integrated resorts
| founded = {{Start date and age|1988|11|17}}
| founder = Sheldon G. Adelson
| hq_location = Las Vegas, Nevada, U.S.
| area_served = {{ubl|class=nowrap|Macau (under Sands China)
Singapore}}
| key_people = Robert G. Goldstein
(chairman & CEO)
Patrick Dumont
(president & COO)
Randy Hyzak
(CFO)
Zachary Hudson
(General Counsel)
| products = Gambling, hotels, entertainment, casinos, resorts
| subsid = Sands China (69.9%)
| revenue = {{increase}} {{US$|11.3 billion}} (2024)
| operating_income = {{increase}} {{US$|2.40 billion}} (2024)
| net_income = {{increase}} {{US$|1.45 billion}} (2024)
| assets = {{decrease}} {{US$|20.7 billion}} (2024)
| equity = {{decrease}} {{US$|2.88 billion}} (2024)
| owner = Adelson family (54%)
| num_employees = 40,300 (2024)
| website = {{URL|sands.com}}
}}
Las Vegas Sands Corp. is an American casino and resort company with corporate headquarters in Las Vegas, Nevada, United States. It was founded by Sheldon G. Adelson and his partners out of the Sands Hotel and Casino on the Las Vegas Strip. The Sands was demolished and redeveloped as The Venetian, opening in 1999. An adjacent resort, The Palazzo, opened in 2007. Both resorts were sold in 2022.
The company holds several resorts in Asia, including Marina Bay Sands in Singapore, which opened in 2010. Through its majority-owned subsidiary Sands China, the company owns several properties in Macau, including Sands Macao, The Londoner Macao, The Venetian Macao, and The Parisian Macao. As of 2020, it is the third-largest casino company worldwide by revenue.{{Cite web|url=https://www.statista.com/statistics/257531/leading-casino-companies-worldwide-by-revenue/|title=Largest casino companies 2018|website=Statista|access-date=October 23, 2016|archive-date=August 2, 2021|archive-url=https://web.archive.org/web/20210802132355/https://www.statista.com/statistics/257531/leading-casino-companies-worldwide-by-revenue/|url-status=live}}
History
=Development on the Las Vegas Strip=
File:Sheldon Adelson crop.jpg]]
Entrepreneur Sheldon G. Adelson and his partners Richard Katzeff, Irwin Chafetz, Ted Cutler, and Jordan Shapiro bought the Sands Hotel and Casino in 1989. Adelson and his partners financed their venture with investments in personal computers and trade shows, founding the computer trade show COMDEX in 1979.{{cite web |last=Stutz |first=Howard |date=December 16, 2004 |title=Investors, Las Vegas Sands hit jackpot as stock goes public |url=http://www.reviewjournal.com/lvrj_home/2004/Dec-16-Thu-2004/news/25486298.html |archive-url=https://web.archive.org/web/20041218011446/http://www.reviewjournal.com/lvrj_home/2004/Dec-16-Thu-2004/news/25486298.html |archive-date=December 18, 2004 |work=Las Vegas Review-Journal}} They opened the 1.2 million square foot Sands Expo and Convention Center, then the largest privately owned convention facility in the world,{{cite web |title=Renovating The World's Largest Integrated Resort |url=https://www.pabcogypsum.com/sites/default/files/PABCO_Case_Study_Sands_Expo.pdf |access-date=July 6, 2022 |archive-date=June 19, 2021 |archive-url=https://web.archive.org/web/20210619001408/https://www.pabcogypsum.com/sites/default/files/PABCO_Case_Study_Sands_Expo.pdf |url-status=live }} across from the hotel in 1990.
The Sands Hotel was unable to compete with newer resorts on the Las Vegas Strip and was demolished to make room for The Venetian. Construction of the Venetian began in 1997, funded by Adelson's sale of COMDEX.{{cite web |url= https://www.forbes.com/sites/willyakowicz/2021/01/12/casino-billionaire-republican-power-broker-and-trump-ally-sheldon-adelson-is-dead/?sh=1a2f4d302743 |title= The Improbable Life Of Sheldon Adelson, Republican Kingmaker And Casino Billionaire |last1= Yakowicz |first1= Will |last2= Bertoni |first2= Steven |date= January 12, 2021 |website= Forbes |access-date= July 6, 2022 |archive-date= July 7, 2022 |archive-url= https://web.archive.org/web/20220707015713/https://www.forbes.com/sites/willyakowicz/2021/01/12/casino-billionaire-republican-power-broker-and-trump-ally-sheldon-adelson-is-dead/?sh=1a2f4d302743 |url-status= live }} Modeled on Venice, Italy, it joined the ranks of themed hotels such as Excalibur, New York-New York, and Paris Las Vegas on the Las Vegas Strip. In 2004, Las Vegas Sands, Inc. went public, and its name was changed to the Las Vegas Sands Corp.
Construction on The Palazzo began in 2005. The Palazzo and The Venetian make up the world's largest hotel under one roof, at 7,000 all-suite rooms and 17 million square feet.{{cite web|url=https://betterbuildingssolutioncenter.energy.gov/showcase-projects/las-vegas-sands-venetian-and-palazzo|title=LAS VEGAS SANDS: THE VENETIAN AND THE PALAZZO|access-date=July 7, 2022|archive-date=July 7, 2022|archive-url=https://web.archive.org/web/20220707015651/https://betterbuildingssolutioncenter.energy.gov/showcase-projects/las-vegas-sands-venetian-and-palazzo|url-status=live}} The 43-story unfinished condominium skyscraper St. Regis Residences at the Venetian Palazzo is on the same campus. Construction halted in 2008 due to company financial issues.{{cite web | url= https://www.casino.org/vitalvegas/the-las-vegas-secret-hidden-in-plain-sight/ | title= The Las Vegas Secret Hidden in Plain Sight | last= Roeben | first= Scott | date= August 12, 2015 | access-date= July 6, 2022 | archive-date= July 7, 2022 | archive-url= https://web.archive.org/web/20220707015651/https://www.casino.org/vitalvegas/the-las-vegas-secret-hidden-in-plain-sight/ | url-status= live }}
The 2008 financial crisis forced Adelson to invest $1 billion of his own capital to keep the Las Vegas Sands in business, much of which the company spent developing event spaces and high-end retail stores in their properties By 2011, the Las Vegas Sands Corp.'s main profits came from renting convention space.{{cite news |date=April 24, 2011 |title=Coffee With Mike |publisher=Las Vegas Sands Blog |url=http://sandsconfidential.com/2011/04/24/coffee-with-mike/ |access-date=August 29, 2013 |archive-date=March 25, 2013 |archive-url=https://web.archive.org/web/20130325074817/http://sandsconfidential.com/2011/04/24/coffee-with-mike/ |url-status=dead }}
=Expansion into Asia=
File:Cotai Strip Buildings 200907.jpg
The company soon recognized new commercial opportunities in Asia, specifically in Macau, the only Special Administrative Region of China where gambling is legal. Las Vegas Sands Corp., along with Wynn Resorts and Galaxy Entertainment Group,{{cite web |title=Chronology of Gambling Events in Macao |url=https://link.springer.com/content/pdf/bbm%3A978-3-642-40749-9%2F1.pdf |access-date=July 6, 2022 |archive-date=July 7, 2022 |archive-url=https://web.archive.org/web/20220707015654/https://link.springer.com/content/pdf/bbm:978-3-642-40749-9%2F1.pdf |url-status=live }} was one of the first to be granted a casino operating concession. Sands Macao resort, Macau's first American-operated casino, opened in 2004.
Las Vegas Sands Corp.'s future Macau properties were largely in Cotai, a district of reclaimed land created through public works projects and designated for hotels and casinos.{{cite web |url= https://www.atlantis-press.com/article/125971702.pdf |title= Evolution process of land reclaimation in Macao and its impact on economy and ecology |first1= Shangchen |first2= Youshen |first3= Hanwei |last1= Wu |last2= Lu |last3= Fang |access-date= July 6, 2022 |archive-date= June 16, 2022 |archive-url= https://web.archive.org/web/20220616173007/https://www.atlantis-press.com/article/125971702.pdf |url-status= live }} The Venetian Macao, the second-largest in the world at 550,000 square feet, opened in 2007.{{cite web |url= https://www.casino.org/blog/10-of-the-worlds-largest-casinos-the-biggest-casinos-ever/ |last= Keaton |first= Brooke |date= June 10, 2020 |title= Top 10 Biggest Casinos In The World Ever |access-date= July 6, 2022 |archive-date= March 17, 2016 |archive-url= https://web.archive.org/web/20160317091918/https://www.casino.org/blog/the-worlds-largest-casino/ |url-status= live }}
In 2008, Las Vegas Sands opened a Four Seasons hotel adjacent to the Venetian Macao. It was followed by The Londoner Macao, originally branded Sands Cotai Central, and The Parisian Macao.
Development plans proceeded in 2010 for Marina Bay Sands resort in Singapore, at $5.6 billion the most expensive hotel and casino ever built.{{cite web |last=Cohen |first=Muhammad |title=How Marina Bay Sands Transformed The Singapore Skyline And Global Gaming Landscape |url=https://www.forbes.com/sites/muhammadcohen/2015/04/27/marina-bay-sands-transformed-singapore-skyline-global-gaming-landscape/?sh=4c77333e1794 |access-date=July 6, 2022 |website=Forbes |archive-date=July 7, 2022 |archive-url=https://web.archive.org/web/20220707015712/https://www.forbes.com/sites/muhammadcohen/2015/04/27/marina-bay-sands-transformed-singapore-skyline-global-gaming-landscape/?sh=4c77333e1794 |url-status=live }} The resort was designed by Israeli-Canadian architect Moshe Safdie and is composed of three 57-story towers connected at the top by a 3-acre SkyPark(R). The integrated resort was the second built in Singapore after Resorts World Sentosa. Eight months after opening, Marina Bay Sands set a record for posting a $600 million operating profit.
In September 2012, the Las Vegas Sands Corp. announced that Madrid had been chosen as destination for a casino resort project dubbed EuroVegas in an attempt to expand outside of Asia.{{cite news
|url=http://investor.lasvegassands.com/releasedetail.cfm?ReleaseID=705718
|publisher=Las Vegas Sands
|title=Las Vegas Sands Names Madrid As Preferred Location for European Development
|date=September 7, 2012 |url-status=dead
|archive-url=https://web.archive.org/web/20120911031524/http://investor.lasvegassands.com/releasedetail.cfm?ReleaseID=705718
|archive-date=September 11, 2012 }} In February 2013, the company named the town of Alcorcón, on the outskirts of Madrid, as the site for the EuroVegas project.{{cite news
|url=http://www.nbcnews.com/id/50743178/ns/local_news-las_vegas_nv
|title=Spain's Alcorcon town chosen for EuroVegas resort
|date=February 8, 2013
}}{{dead link|date=August 2024|bot=medic}}{{cbignore|bot=medic}} Plans included six casinos, twelve hotels, a convention center, three golf courses, shopping centers, bars, and restaurants, and was expected to take 10 years to build. In December 2013 the EuroVegas project was officially canceled.{{cite web|title=Sheldon Adelson cancels $30bn Eurovegas project in Spain|author=Tobias Buck (Madrid)|publisher=Financial Times (London)|date=December 13, 2013|url=http://www.ft.com/cms/s/0/3783f5c8-63f7-11e3-98e2-00144feabdc0.html|access-date=December 13, 2013|archive-date=December 15, 2013|archive-url=https://web.archive.org/web/20131215051638/http://www.ft.com/cms/s/0/3783f5c8-63f7-11e3-98e2-00144feabdc0.html|url-status=live}}
=Recent history=
In 2015, the Las Vegas Sands Corp. and California-based co-developer California-based Majestic Realty Co.{{Cite news |last=Stutz |first=Howard |date=January 28, 2016 |title=Las Vegas Sands proposes $1B domed stadium; Adelson to meet with Raiders owner |work=Las Vegas Review-Journal |url=https://www.reviewjournal.com/business/stadium/las-vegas-sands-proposes-1b-domed-stadium-adelson-to-meet-with-raiders-owner/ |access-date=February 3, 2019 |archive-date=February 27, 2019 |archive-url=https://web.archive.org/web/20190227073549/https://www.reviewjournal.com/business/stadium/las-vegas-sands-proposes-1b-domed-stadium-adelson-to-meet-with-raiders-owner/ |url-status=live }} proposed a $1.2 billion 65,000-seat stadium located near The Strip for the Oakland Raiders football team. The proposal required $420 million from private investors and $780 million in public funding, primarily from tourism. Despite Las Vegas Sands withdrawing from the project, the Raiders eventually moved into the stadium after relocating from Oakland.
The company's 2018 annual report anticipated "a significant and adverse effect" from the "proliferation of gaming venues, particularly in Southeast Asia."{{cite news |author=Ese Erheriene |date=May 7, 2019 |title=Casino Boom in Asia Pressures Vegas Operators: Region's new venues aim to draw gamblers beyond Macau, U.S. giants' longtime hub |page=B5 |publisher=Wall Street Journal}}
In May 2019, the company sold Sands Bethlehem to the Poarch Band of Creek Indians for $1.3 billion, and it was renamed Wind Creek Bethlehem.{{cite news|title=The deal is complete: Sands Bethlehem casino is now owned by Wind Creek Hospitality|newspaper=The Morning Call|location=Allentown, PA|first=Jon|last=Harris|date=May 31, 2019|url=https://www.mcall.com/business/mc-biz-wind-creek-closes-deal-to-acquire-sands-bethlehem-casino-20190531-jogysvu6i5g4nfzqjnycjrurwi-story.html|access-date=July 20, 2019|archive-date=June 8, 2019|archive-url=https://web.archive.org/web/20190608040932/https://www.mcall.com/business/mc-biz-wind-creek-closes-deal-to-acquire-sands-bethlehem-casino-20190531-jogysvu6i5g4nfzqjnycjrurwi-story.html|url-status=live}}
Las Vegas Sands was one of multiple bidders trying to open a commercial casino in Downstate New York. Las Vegas Sands had proposed building Sands New York, an integrated resort at the Nassau Coliseum site in Uniondale, New York,{{cite web |last=O'Connor |first=Devin |date=2023-08-11 |url=https://www.casino.org/news/sands-new-york-details-long-island-resort-details/ |title=Sands New York Details Long Island Resort Plans Through Rezoning Application |website=Casino.org |access-date=2024-05-08}} but withdrew their bid in April of 2025 due to the threat of New York legalizing online gambling.[https://www.nytimes.com/2025/04/23/nyregion/las-vegas-sands-casino-nassau-coliseum.html Las Vegas Sands Drops Bid to Open a Casino on Long Island][https://www.casino.org/news/sands-abandons-nyc-casino-plan-citing-igaming-risks/ Sands Abandons NYC Casino Plan Citing iGaming Risks] In the event that the state of Texas legalizes casinos, Las Vegas Sands hopes to build an integrated resort in Irving at the former site of Texas Stadium. Following backlash towards the project, Sands withdrew the casino component of the project.[https://www.bizjournals.com/dallas/news/2025/03/12/las-vegas-sands-irving-destination-resort-zoning.html Las Vegas Sands' resort vision in Irving relies on casino — but what about Mavericks arena?][https://www.wfaa.com/article/sports/nba/mavericks/mavs-new-arena-irving-city-council-destination-resort/287-c027568d-dcb7-455c-bdbf-f0d7ad6dce15 Irving City Council considering rezoning land owned by Adelson family for possible destination resort, including an arena][https://www.cbsnews.com/texas/news/irving-next-step-construction-casino-resort-sands-corporation/ Las Vegas Sands Corporation pulls casino-style gaming from proposal ahead of Irving City Council vote]
Finances
| class="wikitable floatright"
!Region !share |
| Macau
|63.2% |
| Singapore
|37.1% |
| Intersegment Eliminations
| -0.3 % |
The COVID-19 pandemic negatively impacted the company's finances with a 97.1% decrease in revenue and a second-quarter fiscal loss of $985 million.{{Cite web |last=Komenda |first=Ed |title=Sands: 'Las Vegas is in a world of hurt.' Venetian, Palazzo owner reports $985M loss in Q2 |url=https://www.rgj.com/story/news/2020/07/22/venetian-palazzo-owner-las-vegas-sands-reports-985-million-q-2-loss/5490024002/ |access-date=2022-09-19 |website=Reno Gazette Journal |language=en-US |archive-date=April 27, 2023 |archive-url=https://web.archive.org/web/20230427061726/https://www.rgj.com/story/news/2020/07/22/venetian-palazzo-owner-las-vegas-sands-reports-985-million-q-2-loss/5490024002/ |url-status=live }} In March 2021, two months after Sheldon G. Adelson's death, the company announced the sale of its Las Vegas properties to Vici Properties and its operations to Apollo Global Management.{{Cite web |date=April 30, 2021 |title=With sale of the Venetian, Las Vegas Sands exits the Strip |url=https://apnews.com/article/venetian-casino-sold-las-vegas-645b6166fb6fa2b2fe7ce8925773345f |access-date=November 19, 2021 |website=AP NEWS |language=en |archive-date=March 9, 2021 |archive-url=https://web.archive.org/web/20210309205957/https://apnews.com/article/venetian-casino-sold-las-vegas-645b6166fb6fa2b2fe7ce8925773345f |url-status=live }} The sale was finalized in February 2022.{{cite news |last=Velotta |first=Richard N. |title=Las Vegas Sands closes $6.4 billion sale of Venetian to Apollo, Vici |url=https://www.reviewjournal.com/business/casinos-gaming/las-vegas-sands-closes-6-4-billion-sale-of-venetian-to-apollo-vici-2534081/ |access-date=December 4, 2023 |work=Las Vegas Review-Journal |date=February 23, 2022}}
As of 2021, the Las Vegas Sands Corp. is headed by CEO Robert Glen Goldstein, and reported a 2020 annual revenue of $3.61 billion.{{Cite web |title=Las Vegas Sands Corp. - Financials - Annual Reports |url=https://investor.sands.com/financials/annual-reports/default.aspx |access-date=2022-09-19 |website=investor.sands.com |archive-date=September 20, 2022 |archive-url=https://web.archive.org/web/20220920173529/https://investor.sands.com/financials/annual-reports/default.aspx |url-status=live }}
| class="wikitable float-left" style="text-align: right;"
!Year !Revenue !Net income !Total assets !Employees |
| 2005
|1,741 |284 |3,880 |6,000 |
| 2006
|2,237 |442 |7,126 |15,280 |
| 2007
|2,951 |117 |11,467 |28,000 |
| 2008
|4,390 |−189 |17,144 |28,500 |
| 2009
|4,563 | −540 |20,572 |27,000 |
| 2010
|6,853 | 407 |21,044 |34,000 |
| 2011
|9,411 |1,270 |22,244 |40,000 |
| 2012
|11,131 |1,524 |22,164 |46,000 |
| 2013
|13,770 |2,306 |22,724 |48,500 |
| 2014
|14,584 |2,841 |22,354 |48,500 |
| 2015
|11,688 | 1,966 |20,863 |46,500 |
| 2016
|11,410 |1,670 |20,469 |49,000 |
| 2017
|12,882 |2,806 |20,687 |50,000 |
| 2018
|13,729 |2,413 |22,547 |50,000 |
| 2019
|13,739 |2,698 |23,199 |50,000 |
| 2020
|3,612 |−1,685 |20,807 |44,500 |
| 2021
|4,234 |−961 |20,059 |44,700 |
| 2022
|4,110 |1,832 |22,039 |35,700 |
| 2023
|10,372 |1,221 |21,778 |38,700 |
| 2024
|11,298 |1,446 |20,666 |40,300 |
Political contributions
According to OpenSecrets, Las Vegas Sands donated $52.9 million to Republican candidates as the largest single contributor to federal campaigns during the 2012 election cycle.{{cite web |title=Top Organization Contributors |url=https://www.opensecrets.org/orgs/list.php?cycle=2012 |website=OpenSecrets |access-date=June 23, 2016 |archive-date=April 4, 2016 |archive-url=https://web.archive.org/web/20160404132145/https://www.opensecrets.org/orgs/list.php?cycle=2012 |url-status=live }} By comparison, Adelson Drug Clinic was the second-largest solely Republican contributor during the 2012 election cycle with $42.1 million donated. Since 1992, Las Vegas Sands has contributed $70.5 million to federal campaigns; since 1999 the company has spent $5.4 million on lobbying.{{cite web|title=Organizations: Las Vegas Sands|url=https://www.opensecrets.org/orgs/summary.php?id=D000020980&cycle=A|website=OpenSecrets|access-date=June 23, 2016|archive-date=November 16, 2018|archive-url=https://web.archive.org/web/20181116065812/https://www.opensecrets.org/orgs/summary.php?id=D000020980&cycle=A|url-status=live}}
Miriam Adelson has been one of Donald Trump’s top donors during all three of his presidential campaigns.{{Cite web|url=https://www.msn.com/en-us/news/politics/trump-meets-with-gop-megadonor-miriam-adelson/ar-BB1i7lHp|title=Trump meets with GOP megadonor Miriam Adelson|website=Politico|date=February 10, 2024|access-date=February 22, 2024}}{{Cite web|website=The Wall Street Journal|url=https://www.wsj.com/politics/elections/trump-will-raise-43-million-in-one-night-but-hes-still-courting-his-biggest-2020-donor-704fcbee|title=Trump Will Raise $43 Million in One Night, but He's Still Courting His Biggest 2020 Donor|date=April 6, 2024|first1=Alex|last1=Leary|first2=John|last2=McCormick|access-date=6 April 2024|archive-date=6 April 2024|archive-url=https://archive.today/20240406164440/https://www.wsj.com/politics/elections/trump-will-raise-43-million-in-one-night-but-hes-still-courting-his-biggest-2020-donor-704fcbee|url-status=live}}{{Cite web|url=https://nymag.com/intelligencer/article/miriam-adelson-trump-2024-campaign-donor-israel.html|title=Miriam Adelson's Unfinished Business|date=May 20, 2024|website=New York Magazine|first1=Elizabeth|last1=Weil|access-date=26 May 2024|archive-date=20 June 2024|archive-url=https://archive.today/20240620012550/https://nymag.com/intelligencer/article/miriam-adelson-trump-2024-campaign-donor-israel.html|url-status=live}} Adelson has also provided financial supporter to the Zionist Organization of America, the Yad Vashem Holocaust museum and memorial in Jerusalem, and multiple U.S. groups that fundraise for the Israeli military.{{cite news |title=Who is Miriam Adelson, the reported soon-to-be majority owner of the Dallas Mavericks? |url=https://www.wfaa.com/article/sports/nba/mavericks/who-is-miriam-adelson-dallas-mavericks-owner/287-f1f8f539-b9c9-4343-a0ec-812b57c8d8b8/ |access-date=28 November 2023 |work=WFAA Dallas}}
Initiatives
Las Vegas Sands has their own sustainability initiative roadmap called Sands ECO360, centered on identifying eco-friendly processes surrounding building development, resort management, and events.
One of the company's initiatives encourages resort staff to report possible water- or energy-conservation concerns.{{cite web | url=https://betterbuildingssolutioncenter.energy.gov/solutions-at-a-glance/las-vegas-sands-green-ideas-challenge | title=Las Vegas Sands Green Ideas Challenge | access-date=July 6, 2022 | archive-date=July 2, 2022 | archive-url=https://web.archive.org/web/20220702105012/https://betterbuildingssolutioncenter.energy.gov/solutions-at-a-glance/las-vegas-sands-green-ideas-challenge | url-status=live }}
Two buildings in Singapore are LEED certified, and several in Macau have received awards for Energy Saving Activities.{{Cite web|url=https://www.sands.com/responsibility/planet/|title=Our Planet | Las Vegas Sands|date=February 16, 2022|website=Las Vegas Sands | World-Class Integrated Resorts|access-date=January 29, 2022|archive-date=January 29, 2022|archive-url=https://web.archive.org/web/20220129202039/https://www.sands.com/responsibility/planet/|url-status=live}}
Properties
Las Vegas Sands holds integrated resorts in Asia including Marina Bay Sands in Singapore and through its majority-owned subsidiary Sands China Ltd. (SCL) owns several integrated resorts in Macao including The Venetian Macao, Sands Macao, The Plaza Macao and Four Seasons Hotel, The Londoner Macao and The Parisian Macao.
=Current properties=
| class="wikitable" |
| Image
! Property ! Location ! Date opened |
|---|
| 150px
|Macau Peninsula, Macau |May 18, 2004 |322 |
| Image:55672-The-Rolling-Stones-14-On-Fire (13063245954).jpg
|Cotai Strip, Macau |April 8, 2007 |... |
| Image:Venetian Macau.jpg
|Cotai Strip, Macau |August 28, 2007 |2,682 |
| 150px
|Marina Bay, Singapore |April 27, 2010 |3,849 |
| 150px
|Cotai Strip, Macau |April 12, 2012 |1,792 |
| 150px
|Cotai Strip, Macau |September 13, 2016 |879 |
= Former properties =
| class="wikitable" |
| Image
! Property ! Location ! Date opened ! Date closed ! Notes |
|---|
| 150px
|{{dts|1952-12-15}} |{{dts|1996-6-30}} |The original Sands Hotel in Las Vegas – demolished November 26, 1996. |
| 150px
|Sands Casino Resort Bethlehem |Bethlehem, Pennsylvania |{{dts|May 22, 2009}} |{{dts |
|Sands Casino Resort Bethlehem was sold to Wind Creek Hospitality, a tribe-owned company of the Poarch Band of Creek Indians in Alabama on May 31, 2019. On completion of the sale the property was re-branded Wind Creek Bethlehem.
|-
|1990
|
|Part of The Venetian Las Vegas.
|-
|May 4, 1999
|
|Sold to Vici Properties and Apollo Global Management in February 2022.
|-
|September 29, 2023
|
|Part of the Venetian; opened after Las Vegas Sands departed the project.{{cite web |last=Velotta |first=Richard N. |title=MSG Sphere at The Venetian is getting a 'mohawk.' It's a big deal. |url=https://www.reviewjournal.com/business/tourism/msg-sphere-at-the-venetian-is-getting-a-mohawk-its-a-big-deal-2533786/ |website=Las Vegas Review-Journal |access-date=December 4, 2023 |date=February 23, 2022}}
|-
|December 30, 2007
|
|Part of The Venetian Las Vegas
|-
|}
Ownership and stock
- December 2004: Las Vegas Sands completed its initial public offering with the ticker LVS on the New York Stock Exchange at a price of $29 per share. 6.8% of the company was put on the market. Adelson maintained 87.9% ownership of the company; management and directors owned the remaining 5.3%.
- October 2007: the company's market capitalization peaked at $52 billion at $144.56 a share.
- September 2008: Las Vegas Sands' stock plummeted to $36.11, prompting Adelson and his wife, Dr. Miriam Adelson, to invest $475 million in the company through a 6.5% convertible note in 2013.
- November 2008: The Adelson family again invested $525 million in Las Vegas Sands, with the company raising an additional $1 billion in a secondary offering. The Adelsons also purchased 5.25 million shares of preferred stock as well as warrants to purchase 87.5 million shares of common stock at an exercise price of $6 each.
- March 2009: market capitalization sinks to approximately $1 billion at less than $2 a share due to general market declines and concern for the short-term financial health of the gambling industry.
- November 2009: Las Vegas Sands completed an initial public offering of its subsidiary Sands China Ltd., which owns and operates its Macau properties. The company raised a total of $3.3 billion in equity capital by selling a 29% interest in Sands China Ltd.
- 2012: CEO Sheldon G. Adelson and his family owned approximately 53% of the company.{{Cite news |last=McDonald |first=Duff |date=February 8, 2012 |title=Meet the woman behind Sheldon Adelson |language=en-US |url=http://fortune.com/2012/02/08/meet-the-woman-behind-sheldon-adelson/ |access-date=September 14, 2017 |archive-date=March 30, 2018 |archive-url=https://web.archive.org/web/20180330085216/http://fortune.com/2012/02/08/meet-the-woman-behind-sheldon-adelson/ |url-status=live }}
Aircraft
Las Vegas Sands operates private aircraft used primarily for charter transportation of executive directors and VIP guests of its properties. The Las Vegas Sands fleet is leased for charter purposes by Tradenda Capital AG (Lichtenstein), whose portfolio of companies includes Sands Aviation LLC and Interface Aviation LLC, the latter of which handles the personal affairs of the Adelson family. All operational Las Vegas Sands aircraft are based in Las Vegas at Harry Reid International Airport. The fleet includes the following aircraft (as of May 2025):{{Cn|date=May 2025}}
| class="wikitable"
|+ !Aircraft !In Fleet |
| Airbus A319-100
|2 |
| Airbus A340-500
|1 |
| Boeing 737-700
|5 |
| Boeing 767-300ER
|1 |
| Total
!9 |
|---|
=gallery=
File:Las Vegas Sands Boeing 747SP Manteufel.jpg|A Sands Boeing 747SP aircraft, this aircraft would be damaged beyond repair in an aircraft hangar collision caused by Hurricane Laura in 2020
File:Las Vegas Sands Corporation B737-300(N788LS) (4996044822).jpg|A Sands Boeing 737-300 approaching Singapore Changi Airport
File:N887LS (30979172770).jpg|A Sands Boeing 737-700BBJ at Taipei Songshan Airport
Alleged anti-bribery violations
In March 2013, the New York Times{{cite news |last=Schwirtz |first=Michael |date=March 2, 2013 |title=In Filing, Casino Operator Admits Likely Violation of an Antibribery Law |work=The New York Times |url=https://www.nytimes.com/2013/03/03/business/in-filing-casino-operator-admits-likely-violation-of-an-antibribery-law.html?_r=0 |access-date=February 27, 2017 |archive-date=October 20, 2016 |archive-url=https://web.archive.org/web/20161020114621/http://www.nytimes.com/2013/03/03/business/in-filing-casino-operator-admits-likely-violation-of-an-antibribery-law.html?_r=0 |url-status=live }} reported that the Las Vegas Sands Corp. had informed the U.S. Securities and Exchange Commission that the company likely violated federal law against the bribery of foreign officials. The Company disputed these reports, stating in a press release:
The company did not report any violations of the anti-bribery provisions of the FCPA, and it said news reports stating otherwise, such as the headline in today's New York Times which described the matter by saying 'Casino Says it Likely Cheated,' are both inflammatory and defamatory...in [the Company's] preliminary findings the company's Audit Committee had advised that there were 'likely violations' of the books and records and internal controls provisions (i.e. 'accounting provisions') of the FCPA. A potential violation of the accounting provisions could range anywhere from a single transaction recorded incorrectly to other errors in the accounting records. The company said it will vigorously defend itself against that type of uninformed and misleading reporting.{{cite web |title=LVS Fires Back at Misleading and Sensationalistic Reporting of Company's Most Recent Financial Disclosure (NYSE:LVS) |url=http://investor.lasvegassands.com/releasedetail.cfm?ReleaseID%3D744731 |url-status=dead |archive-url=https://web.archive.org/web/20130621162715/http://investor.lasvegassands.com/releasedetail.cfm?ReleaseID=744731 |archive-date=June 21, 2013 |access-date=August 29, 2013}}
Legal issues
On May 31, 2016, Sands reached a financial settlement with former Sands China president Steve Jacobs, who sued the company in 2010 for breach of contract and wrongful termination.{{cite web |last1=Master |first1=Farah |title=Las Vegas Sands settles with former CEO of Macau casino unit |url=https://www.reuters.com/article/us-lasvegassands-lawsuit/las-vegas-sands-settles-with-former-ceo-of-macau-casino-unit-idUSKCN0YN30X |website=Reuters |access-date=March 15, 2019 |language=en |date=June 1, 2016 |archive-date=August 22, 2018 |archive-url=https://web.archive.org/web/20180822122743/https://www.reuters.com/article/us-lasvegassands-lawsuit/las-vegas-sands-settles-with-former-ceo-of-macau-casino-unit-idUSKCN0YN30X |url-status=live }} Terms of the settlement were not disclosed, but the Wall Street Journal reported that the company paid Jacobs more than $75 million.{{cite web |last1=O'Keeffe |first1=Kate |last2=Berzon |first2=Alexandra |title=Las Vegas Sands to Pay More Than $75 Million to Settle Suit Filed by Former Macau CEO |url=https://www.wsj.com/articles/las-vegas-sands-to-pay-more-than-75-million-to-settle-suit-filed-by-former-macau-ceo-1464752315 |website=Wall Street Journal |access-date=March 15, 2019 |date=June 1, 2016 |archive-date=March 18, 2019 |archive-url=https://web.archive.org/web/20190318231708/https://www.wsj.com/articles/las-vegas-sands-to-pay-more-than-75-million-to-settle-suit-filed-by-former-macau-ceo-1464752315 |url-status=live }} Jacobs had claimed he was dismissed for "blowing the whistle on improprieties" in Macau,{{cite web |last1=Velotta |first1=Richard N. |title=Las Vegas Sands Corp., Steven Jacobs reach confidential settlement in wrongful termination case |url=https://www.reviewjournal.com/business/casinos-gaming/las-vegas-sands-corp-steven-jacobs-reach-confidential-settlement-in-wrongful-termination-case/ |website=Las Vegas Review-Journal |access-date=March 15, 2019 |date=June 1, 2016 |archive-date=March 19, 2019 |archive-url=https://web.archive.org/web/20190319001140/https://www.reviewjournal.com/business/casinos-gaming/las-vegas-sands-corp-steven-jacobs-reach-confidential-settlement-in-wrongful-termination-case/ |url-status=live }} including Jacobs' allegations that Adelson had instructed him to investigate senior Macau officials' potentially damaging financial and business information to use as leverage in future regulatory discussions.{{cite web |last1=Heuer |first1=Mike |title=Adelson & Sands Will Pay Ex-CEO Millions |url=https://www.courthousenews.com/adelson-sands-will-pay-ex-ceo-millions/ |website=Courthouse News Service |access-date=March 15, 2019 |date=June 2, 2016 |archive-date=September 22, 2021 |archive-url=https://web.archive.org/web/20210922160027/https://www.courthousenews.com/adelson-sands-will-pay-ex-ceo-millions/ |url-status=live }} Adelson denied these allegations, characterizing Jacobs as a disgruntled ex-employee.{{cite web |last1=Isaacs |first1=Matt |title=Megadonor Sheldon Adelson and the inside story of Chinese casino money flooding our elections |url=https://www.motherjones.com/politics/2016/02/sheldon-adelson-macau-casinos-lawsuit/ |website=Mother Jones |access-date=March 15, 2019 |archive-date=March 4, 2019 |archive-url=https://web.archive.org/web/20190304021534/https://www.motherjones.com/politics/2016/02/sheldon-adelson-macau-casinos-lawsuit/ |url-status=live }}
On March 14, 2019, Sands reached a financial settlement with Hong Kong businessman Richard Suen for an undisclosed amount after having sued Las Vegas Sands for the third time, arguing he was owed $347 million by the Company, who countered with $3.76 million. Terms of the settlement were not disclosed, but Sands attorney Richard Sauber said the parties had reached an "amicable settlement and resolution."{{cite web |last1=Ritter |first1=Ken |title=Vegas Sands-Macau dealmaker settle 15-year case |url=https://www.mcall.com/business/mc-vegas-sands-macau-dealmaker-settle-15-year-case-20190314-story.html |access-date=March 15, 2019 |website=Lehigh Valley Business Cycle}} Suen had successfully sued Sands twice in 2004 with the claim that he had been promised a $5 million success fee and 2% of Sands' profits from its operations in Macau in exchange for helping to obtain a Macau casino concession. The trials resulted in awards of $44 million and $70 million, respectively.{{cite web |last1=Velotta |first1=Richard N. |title=Judge: Adelson doesn't have to testify in Macau licensing case |url=https://www.reviewjournal.com/business/casinos-gaming/judge-adelson-doesnt-have-to-testify-in-macau-licensing-case-1610888/ |website=Las Vegas Review-Journal |access-date=March 15, 2019 |date=March 5, 2019 |archive-date=March 5, 2019 |archive-url=https://web.archive.org/web/20190305115322/https://www.reviewjournal.com/business/casinos-gaming/judge-adelson-doesnt-have-to-testify-in-macau-licensing-case-1610888/ |url-status=live }}
In June 2021, the Company was sued in a Macau court by Asian American Entertainment Corporation, who alleged entitlement to $70 million in Las Vegas Sands' profits in Macau as the company began operating there in 2002.{{Cite news|title=Las Vegas Sands faces $12B claim in Macau court|language=en-US|work=Fox Business|url=https://www.foxbusiness.com/markets/las-vegas-sands-faces-12-billion-claim-in-macau-court|access-date=July 14, 2021|archive-date=July 14, 2021|archive-url=https://web.archive.org/web/20210714162303/https://www.foxbusiness.com/markets/las-vegas-sands-faces-12-billion-claim-in-macau-court|url-status=live}}
Prior to the November 2022 elections, Las Vegas Sands conducted a petition drive in Florida, spending $49.5 million to amend the State's Constitution to expand casino gambling. The state of Florida is investigating evidence of potentially fraudulent signatures collected during this event.{{Cite web |last=Powers |first=Scott |date=2022-02-08 |title=Casino petition drive fraud claims, investigations multiply |url=https://floridapolitics.com/archives/494009-casino-petition-drive-fraud-claims-investigations-multiply/ |access-date=2022-09-20 |website=Florida Politics |language=en-US |archive-date=September 20, 2022 |archive-url=https://web.archive.org/web/20220920173040/https://floridapolitics.com/archives/494009-casino-petition-drive-fraud-claims-investigations-multiply/ |url-status=live }}
See also
- {{portal-inline|Nevada}}
References
{{Reflist}}
External links
- {{Official website|https://www.sands.com}}
{{Finance links
| name = Las Vegas Sands Corp.
| symbol = LVS
| reuters = LVS.N
| bloomberg = LVS:US
| sec_cik = 1300514
| yahoo = LVS
| google = LVS:NYSE
}}
{{Las Vegas Sands Corporation}}
{{DJSI World}}
{{hotel chains}}
{{Authority control}}
Category:Gambling companies of the United States
Category:Hospitality companies of the United States
Category:Companies based in Paradise, Nevada
Category:Hospitality companies established in 1988
Category:Gambling companies established in 1988
Category:American companies established in 1988
Category:1988 establishments in Nevada
Category:Companies listed on the New York Stock Exchange