Sands China third quarter revenue rises 8.4% as Macau market share grows
The Macau casino operator’s mass-market gaming revenue share reached 26.1 per cent, its highest level since the fourth quarter of 2023.
Macau.- Macau casino operator, Sands China recorded US$1.93bn in net revenue for the third quarter of 2026, an 8.4 per cent increase from the previous quarter and 1.4 per cent year-on-year. Higher gaming volumes and market share gains helped lift its Macau business despite weaker profitability year on year.
The casino operator’s results for the three months ended September 30, released by parent company Las Vegas Sands on October 21, showed that net income fell 29.8 per cent to US$191m. Adjusted EBITDA declined 12 per cent year on year to US$529m but improved from US$430m in the second quarter of 2026.
Sands China’s share of Macau’s mass-market gaming revenue reached 26.1 per cent, its highest level since the fourth quarter of 2023. Compared with the third quarter of 2025, rolling-chip volume increased 31 per cent, non-rolling-chip drop rose 11 per cent and slot machine and electronic table game handle grew 26 per cent.
The Venetian Macao generated US$649m in net revenue, down 6.2 per cent year on year, while The Londoner Macao recorded US$685m, broadly unchanged from US$686m a year earlier. The company attributed pressure on profitability partly to weaker high-end gaming demand and low hold at The Londoner. The Parisian Macao’s revenue increased 6 per cent to US$231m, while The Plaza Macao and Four Seasons Macao recorded a 15.5 per cent rise to US$238m. Sands Macao posted the largest percentage increase among the properties, with revenue climbing 37.5 per cent to US$99m.
For the first nine months of 2026, Sands China reported net revenue of US$5.81bn, up 7.8 per cent from the same period last year. Net income fell 14 per cent to US$592m, while adjusted property EBITDA declined 6.5 per cent to US$1.59bn.
The company said it would continue investing in its Macau portfolio, including the renovation of The Venetian Macao, which began in March and is expected to be completed by Chinese New Year 2028. The work includes refreshed hotel rooms and new gaming salons aimed at premium customers.
