Q3 FY26 · Ended Sep 30, 2026 · View SEC filing
Singapore saw more mass play but kept less
Mass-table play rose while the share the casino kept fell, so the revenue decline reflects win rate more than demand.
For investorsHow much of this quarter was luck at the tables?
For foundersBuilding amenities that make the core product pay
Departmental costs rose while revenue fell, so a 3.5% sales dip became a 14.0% fall in operating income.
Casino departments spend 59.4% of what they bring in, so a dollar of non-gaming growth carries more profit.
Depreciation of resorts already paid for uses no cash, so operating cash flow nearly triples attributable net income.
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Business Lens describes Las Vegas Sands from its own filings with the SEC. It is not a view on its shares, a target, or advice to buy, sell or hold anything; figures are as filed and may be restated by the company later. The filing is linked above.
