Las Vegas Sands reports 15.2% increase in net revenue for Q2 2025

Las Vegas Sands has reported its financial results for the second quarter of 2025, having generated $3.2bn in net revenue throughout the period for a year-over-year increase of 15.2%, while net income grew by 22.4% from the prior year period for a total of $519m. 

The operator also witnessed increases in both adjusted property EBITDA, rising 24.3% year-over-year to just over $1.3bn, and operating income which grew by 32.5% to generate $783m in Q2 2025. 

“We remain enthusiastic about our opportunities to deliver industry-leading growth in both Macao and Singapore as we realize the benefits from our recently completed capital investment programs in both markets,” Las Vegas Sands Chairman and CEO Robert Goldstein said. 

“Our financial strength and industry-leading cash flow continue to support our investment and capital expenditure programs in both Macao and Singapore, our pursuit of growth opportunities in new markets and our program to return excess capital to stockholders. We repurchased $800 million of LVS shares under our share repurchase program during the quarter. We look forward to utilizing our share repurchase program to continue to return excess capital to stockholders.”

While net revenue for the operator’s Sands China business increased by 2.5% from the prior year period for a total of $1.8bn in Q2 2025, net income decreased by over $30m from what had been produced throughout the second quarter of 2024 to $214m. 

Good to know: Las Vegas Sands officially withdrew its $4bn casino complex bid for a site at Nassau Coliseum, Long Island in New York on April 24, 2025

Las Vegas Sands’ casino operations accounted for the majority of its net revenue generated in Q2 2025, rising by 18.7% year-over-year for a total revenue of $2.6bn. The company’s room and mall businesses increased its revenue for the period as well, reporting $345m and $187m, respectively, for growth of 10.2% and 7.5% from the prior year period. 

Food & beverage operations failed to witness similar success, however, as the sector’s revenue throughout the second quarter of 2025 was reported to be $147m, equating to a slight decrease of 0.7% year-over-year. 

Marina Bay Sands generated a net revenue of close to $1.4bn for Q2 2025, representing an increase of 36.6% from the prior year period while the segment’s adjusted property EBITDA grew by 50% year-over-year for a total of $768m. Macao operations generated an adjusted property EBITDA of $566m throughout the second quarter of 2025, rising by approximately $5m from the prior year period. 

On July 15, Las Vegas Sands officially broke ground on its $8bn resort and entertainment project in Singapore, set to feature a 570-suite hotel tower, 200,000 sq ft of meeting space and a purpose-built 15,000-seat arena for live entertainment.

Kirk Geller

Visit Profile

Players trust our reporting due to our commitment to unbiased and professional evaluations of the iGaming sector. We track hundreds of platforms and industry updates daily to ensure our news feed and leaderboards reflect the most recent market shifts. With nearly two decades of experience within iGaming, our team provides a wealth of expert knowledge. This long-standing expertise enables us to deliver thorough, reliable news and guidance to our readers.