Las Vegas Sands Corp reported a 25.3% year-on-year increase in net revenue to US$3.59 billion and a 25.6% increase in Adjusted EBITDA to US$1.42 billion in the first quarter of 2026, aided by strong growth in Macau and the relentless power of Singapore’s Marina Bay Sands. Net Income increased 57.1% to US$641 million.
The Q1 result included a 23.6% year-on-year increase in net revenues for Sands China Ltd to US$2.11 billion – also 2.4% higher than the December 2025 quarter – with The Londoner Macao continuing to surge following the completion last year of a comprehensive makeover. Adjusted Property EBITDA in Macau grew 18.3% year-on-year and 4.1% sequentially to US$633 million.
Sands China operates five Macau resorts in The Londoner Macao, The Venetian Macao, The Parisian Macao, The Plaza Macao and Sands Macao.
According to the company’s 1Q26 financials, The Londoner recorded the most sizeable improvement for the quarter with net revenues rising 42.5% year-on-year to US$754 million and Adjusted EBITDA by 45.8% to US$223 million.
However, all five properties showed growth. The Venetian booked an 11.3% increase in net revenues to US$710 million with Adjusted EBITDA up slightly to US$238 million, The Parisian saw net revenues inch upwards to US$229 million while The Plaza reported a 39.4% increase to US$290 million and Sands Macao a 24.0% increase to US$93 million.
LVS said the quarter benefited to the tune of US$15 million by high-hold in rolling play. The company also hit a two-year high in Macau-wide market share of 25.7%.
In Singapore, MBS didn’t quite match the record-breaking performance of the December 2025 quarter but still generated a 27.9% year-on-year increase in net revenues to US$1.49 billion and a 30.2% rise in Adjusted EBITDA to US$788 million on 53.0% margin.
This compared with the whopping US$1.60 billion in revenues and US$806 million in Adjusted EBITDA reported in 4Q25.
The March 2026 quarter included a 115% year-on-year increase in rolling win to US$639 million and 16% increase in mass win to US$902 million.
“We continued to execute our strategic objectives during the quarter as we delivered growth in both Singapore and Macau while continuing to increase the return of capital to shareholders,” said LVS Chairman and CEO, Patrick Dumont.
“Looking ahead, we remain confident that our people, our products and our focus on delivering outstanding service, hospitality and entertainment experiences to our customers will drive growth for the company and deliver strong returns to our shareholders in the years ahead.”
