Summary by Moomoo AI
Las Vegas Sands reported Q3 2024 net revenue of $2.68 billion, down from $2.80 billion YoY, with net income declining to $353 million from $449 million. Macao operations generated adjusted property EBITDA of $585 million, while Marina Bay Sands contributed $406 million, though both were impacted by low hold on rolling play.The company demonstrated strong shareholder returns, repurchasing $450 million of common stock at an average price of $39.36 per share. The Board authorized a new $2.0 billion share repurchase program and increased the annual dividend by $0.20 to $1.00 per share for 2025. Additionally, LVS acquired $44 million of SCL stock, increasing its ownership to 71.31%.The company maintains a solid financial position with $4.21 billion in unrestricted cash and $4.47 billion available under credit facilities. SCL secured a new credit facility providing approximately $4.18 billion in combined revolving and term loan facilities, strengthening its financial flexibility for future growth initiatives.
