Las Vegas Sands increases shareholding in Sands China

Las Vegas Sands will pay up to HK$800m (US$103m) for 59,612,518 shares.

Macau.- Las Vegas Sands (LVS) is to increase its shareholding in Sands China by purchasing 59,612,518 shares for HK$800m (US$103m). LVS will purchase an additional 0.74 per cent of total issued shares for a price of HK$13.42 per share. The company said it will continue to maintain sufficient public float.

LVS increased its shareholding in Sands China last December, purchasing an additional 1.19 per cent of issued shares. For the second quarter of the year, Sands China posted net revenue of US$1.75bn, up 8 per cent in year-on-year terms.

Net income was US$246m, up 31.6 per cent year-on-year but down by 17.2 per cent versus Q1. The group’s adjusted property earnings before interest, taxation, depreciation and amortisation (EBITDA) was S$561m compared to US$541m for the second quarter of 2023.

See also: Sands China contributes 24.5% of Macau GGR in Q2, analysts say