Publication Date: October 22, 2025, 04:58h.
Updated on: October 22, 2025, 04:58h.
- Las Vegas Sands surpasses Q3 expectations
- Casino giant raises quarterly dividend to 30 cents from 25 cents
- Boosting buyback program to $2 billion
Las Vegas Sands (NYSE: LVS) shares jumped in after-hours trading on Wednesday following the release of third-quarter results that significantly exceeded analysts’ predictions, along with announcements of major shareholder benefits programs.
Marina Bay Sands in Singapore demonstrated noteworthy resilience, as Sands reported earnings of 78 cents per share on revenues of $3.38 billion during Q3. These figures reflect a remarkable year-over-year growth of 77% and 24%, respectively. Analysts had projected earnings of 63 cents per share and revenues around $3.1 billion.
Thanks in part to these robust quarterly results, Sands announced an increase in the quarterly dividend to 30 cents per share from 25 cents, effective in 2026. This marks the second hike since the dividend was reinstated in July 2023. Overall, the Sands dividend has grown by 50% since its return after a three-year hiatus due to the COVID-19 pandemic.
Sands Expands Buyback Strategy
By the close of Q3, the operator of the Venetian Macau boasted unrestricted cash reserves of $3.35 billion, ensuring ample resources to return capital to its shareholders, which they are actively doing.
Alongside the dividend announcement, the gaming company revealed it had repurchased about $500 million worth of its own stocks in the September quarter and that the board approved an expansion of the existing buyback plan from $700 million to $2 billion.
“Since the restart of our share repurchase initiative in Q4 2023 up until September 30, 2025, we have bought back roughly 88 million shares at an average cost of $45.42, amounting to a total expenditure of $4.0 billion,” the statement highlighted. “Future repurchases will depend on various factors, including our financial position, earnings, legal considerations, and market dynamics.”
The company further noted that it repurchased $337 million worth of Sands China shares during the quarter. Sands China manages the operator’s five casino hotels in Macau.
Macau’s Recovery
This year is shaping up to be the most promising for Macau post-COVID, as Sands’ third-quarter performance underscores. The largest operator in Macau reported adjusted EBITDA of $601 million during this timeframe.
“In Macau, our long-term commitment to enhancing the business and leisure tourism appeal of the area positions us well for future growth,” CEO Robert Goldstein mentioned in the press release.
Sands invested $99 million into improvements for its Macau properties in Q3.