Sands China Reports Q3 Revenue of $1.93 Billion

Sands China recorded $1.93 billion in revenue for the third quarter of 2026, marking a 1.4% increase year-on-year. This growth occurred despite challenges from weak high-end demand and low hold percentages at The Londoner Macao.

What Happened

Sands China reported revenues of $1.93 billion for the period spanning July to September 2026, representing a 1.4% increase compared to the same period in 2025, according to iGaming Today. The company experienced an increase in gaming volume and market share during the quarter. However, profitability was negatively impacted by soft high-end demand and a low hold percentage at The Londoner Macao.

Patrick Dumont, Chairman and CEO of Las Vegas Sands, attributed the volume growth to sustained investment in service and hospitality, as stated by iGaming Today. Despite the year-over-year revenue increase, quarterly earnings remained below the previous year’s levels. Both adjusted EBITDA and net income showed sequential improvement from the June quarter, indicating stronger performance compared to the prior three-month period.

Key Details

• Sands China’s mass gaming market share reached 26.1%, its highest level in over three years, according to iGaming Today.
• Rolling turnover increased by 31% year-on-year, while non-rolling turnover saw an 11% rise, and electronic table games grew by 26%.
• Adjusted EBITDA for the Macau business decreased by 12.0% year-on-year to $529 million, improving from $430 million in the June quarter.
• Net income for the quarter was $191 million, lower than the $272 million achieved in the third quarter of 2025 but higher than the previous quarter’s $107 million.
• The Venetian Macao’s net revenue declined 6.2% year-on-year to $649 million, with adjusted property EBITDA dropping 15.3% to $205 million.
• The Londoner Macao’s revenue remained stable at $685 million, though its adjusted property EBITDA decreased 18.7% to $178 million due to low hold during the quarter, as reported by Las Vegas Sands.
• The Parisian Macao’s revenue increased by 6.0% to $231 million, The Plaza Macao rose 15.6% to $238 million, and Sands Macao generated $99 million, up from $72 million in the corresponding 2025 quarter.
• In Singapore, Marina Bay Sands reported net revenue of $1.29 billion, a decrease of 9.9% year-on-year and 6.2% sequentially from the June quarter.
• Marina Bay Sands’ adjusted property EBITDA fell 20.6% annually and 23.2% sequentially to $590 million, affected by weaker high-end demand, as noted by Dumont.

Why It Matters

The financial results reflect a mixed performance for Sands China, where overall revenue growth in Macau was driven by gaming revenue market share gains, particularly in mass gaming. This occurred despite challenges such as weak demand from premium clientele and low hold rates at key properties like The Londoner Macao, as highlighted by Patrick Dumont, Chairman and CEO of Las Vegas Sands.

The company’s Macau portfolio, encompassing properties such as The Venetian Macao, The Londoner Macao, The Parisian Macao, The Plaza Macao, and Sands Macao, contributed to the group’s revenue. While flagship properties like The Venetian and The Londoner experienced declines in earnings, the growth from other properties helped to offset these pressures, according to iGaming Today.

What’s Next

Patrick Dumont expressed a positive outlook on Singapore’s growth prospects, citing the ongoing expansion of Marina Bay Sands, which is designed to increase suite capacity and entertainment offerings, including a new arena. He also reiterated the company’s commitment to continued investment in both Macau and Singapore, emphasizing that the group’s balance sheet and cash flow are positioned to support capital programs and meet demand for premium travel and entertainment, as reported by iGaming Today and Inside Asian Gaming.

Originally reported by iGaming Today·Published 23 Oct 2026, 05:04