Las Vegas Sands CORP: insider trades · United States · SEC (Form 4)

About Las Vegas Sands CORP

Las Vegas Sands Corp. (ticker: LVS) is a United States-based company listed on the NYSE/NASDAQ, and one of the world’s best-known operators of integrated resorts. Its business model combines gaming, luxury hotel accommodation, convention and exhibition space, food and beverage, retail, and entertainment under a single destination-resort platform. The company was founded by Sheldon G. Adelson and partners, and a defining milestone came in 1999 with the opening of The Venetian Resort Las Vegas, which helped establish the convention-oriented integrated resort concept that remains central to the group’s identity. Its headquarters are in Las Vegas, Nevada, United States. ([investor.sands.com](https://investor.sands.com/Home/default.aspx?utm_source=openai)) From an investor perspective, LVS is now primarily exposed to two geographic markets: Macao and Singapore. In Macao, the company operates The Venetian Macao, The Londoner Macao, The Parisian Macao, The Plaza Macao and Four Seasons Macao, and Sands Macao. In Singapore, the flagship asset is Marina Bay Sands, which is widely regarded as one of the most iconic and financially important integrated resorts in Asia. The portfolio is designed to capture premium leisure and business travel demand, with a strong emphasis on mass-market gaming, convention traffic, and non-gaming spend. The company has repeatedly highlighted mass-market gaming as its focus because it is generally the highest-margin segment within its gaming business. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1300514/000130051426000013/lvs-20251231.htm?utm_source=openai)) Competitive advantages include a globally recognized brand, large-scale premium assets, and operations in highly regulated markets that create meaningful barriers to entry. In Macao, the company remains one of the key operators on Cotai, while in Singapore Marina Bay Sands provides a flagship asset with strong earnings power. At the same time, LVS remains highly sensitive to tourism trends in Asia, local regulatory conditions, visa and travel policies, and broader macroeconomic developments affecting Chinese and regional demand. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1300514/000130051426000013/lvs-20251231.htm?utm_source=openai)) Recent company disclosures point to continued operational and capital investment momentum. In its 2025 annual report materials, Las Vegas Sands said it completed significant capital investment at The Londoner Macao, positioning the asset for future growth. The company also reported that Marina Bay Sands produced more than $2.9 billion of adjusted property EBITDA in 2025, described as a record for any property in the company’s history. In addition, LVS continued returning capital to shareholders through dividends and buybacks, stating that it has returned more than $33.5 billion of capital since 2012. ([investor.sands.com](https://investor.sands.com/Home/default.aspx?utm_source=openai))