Sands China Sees Strong Performance in 1Q26; Macau Market Share Rises to Two-Year High
The financial results of Sands China Ltd show that the beginning of 2026 was highly profitable for the company, as the revenue and profit showed their growth in Q1 due to the two-year record in terms of the Macau market share.
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Group Performance
In particular, Las Vegas Sands Corp has achieved US$3.59 billion in net revenue in the first quarter of 2026, which is by 25.3% more than the net revenue of the previous year. Furthermore, the increase in adjusted EBITDA is by 25.6%, while the growth of net income is 57.1%. The growth is caused by the development in Macau and Marina Bay Sands’ performance.
As for the division called Sands China Ltd, it achieved US$2.11 billion in net revenue in the first quarter of 2026, which is 23.6% more compared to the previous year and 2.4% to the December 2025 quarter. The growth in adjusted Property EBITDA in Macau is 18.3% and 4.1% in comparison to the corresponding periods.
Macau Resorts
Sands China operates 5 resorts in Macau: The Londoner Macao, The Venetian Macao, The Parisian Macao, The Plaza Macao, and Sands Macao. All 5 properties recorded growth in the quarter, with The Londoner Macao showing the sharpest improvement after last year’s comprehensive makeover.
Up 42.5%, the Londoner brought in $754 million, its earnings before interest, taxes, depreciation, and amortization jumping nearly half to hit $223 million. Not far behind, the Venetian Macao pulled in $710 million, up more than 11%, with profits just climbing toward $238 million. Over at the Parisian Macao, money coming in reached $229 million as things moved higher. Meanwhile, the Plaza Macao jumped almost two-fifths to land at $290 million. Sands Macao, on the other hand, rose a quarter past prior levels, ending at $93 million.
LVS said the quarter benefited by US$15 million from high-hold in rolling play. The company also reached a two-year high in Macau-wide market share of 25.7%, underscoring the strength of its position in the market.
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Singapore Contribution
In Singapore, Marina Bay Sands delivered another strong result, although it did not match the record performance of the December 2025 quarter. Net revenues rose 27.9% year-on-year to US$1.49 billion, while Adjusted EBITDA increased 30.2% to US$788 million on a 53.0% margin.
That compared with the US$1.60 billion in revenue and US$806 million in Adjusted EBITDA reported in the fourth quarter of 2025. Even so, the latest numbers still reflected solid growth at the property, which remained one of the main drivers of group performance in the quarter.
The January 2026 quarter also included a 115% year-on-year increase in rolling win to US$639 million, along with a 16% increase in mass win to US$902 million. These gains added to the broader improvement across LVS’ portfolio during the period.
Management View
LVS chairman and chief executive Patrick Dumont said the company continued to execute its strategic objectives during the quarter. He said the group delivered growth in both Singapore and Macau while also continuing to increase the return of capital to shareholders.
In addition, Dumont said that he remains optimistic about the role that the company’s staff, product, and service offering will have in driving future growth and success.
Source: Inside Asian Gaming
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