Core Viewpoint - The current earnings season for U.S. consumer stocks has led to an unusual sell-off, despite strong earnings reports, indicating deep-seated market concerns about the sustainability of consumer strength [1][2]. Group 1: Earnings Performance - 83% of the 317 S&P 500 companies that have reported earnings exceeded expectations, yet stock prices generally fell post-announcement [1]. - Companies like Procter & Gamble (PG) and PepsiCo (PEP) experienced initial stock price increases after reporting strong earnings, but ultimately saw declines in the following days [3]. Group 2: Market Sentiment - The prevailing market environment suggests a tactical "sell-the-news" approach, with investors opting to take profits rather than establish new long positions [2]. - Negative earnings surprises have led to significant stock price drops, with companies like Philip Morris International (PM) and Chipotle Mexican Grill (CMG) facing severe sell-offs following disappointing results [4]. Group 3: Exceptions to the Trend - A few companies managed to resist the broader sell-off, including Las Vegas Sands (LVS), Wingstop (WING), and Builders FirstSource (BLDR), which showed resilience due to specific business strengths [5]. - Despite these exceptions, the overall sentiment in the consumer sector remains pessimistic, with investors wary of future economic uncertainties [5].

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 001-32373 LAS VEGAS SANDS CORP. (Exact name of registrant as specified in its charter) Nevada 27-0099920 (State or other jurisdic ...

So, let's go on that theme a little bit. We'll we'll segue to some moves, but we'll we'll take your buying more of Las Vegas Sands. Yeah, the stock is uh it's actually flat year to date and it the expectations are really low for the earnings, but they were actually quite good. Uh Singapore is on fire for them and that's about 40% of their uh revenues and it was it beat expectations by 44% and Macau was less bad and actually the margins were actually better.So, that's much more of the business at 60% of the ...

Yes, Melissa, thank you very much. And Rob, it's great to see you. I gotta say, I was surprised on the call not to hear more superlatives about the amazing results in Singapore because as far as I can do, I I did some quick research.There has never been a a hotel casino property anywhere in the world in any quarter that achieved what you did. $768 million. No, no, no.I just It's a It's a big deal. >> It's You're absolutely correct. I've been doing this 40 years.No building anywhere industry came close to th ...

Financial Data and Key Metrics Changes - Marina Bay Sands (MBS) achieved an EBITDA of $768 million, with a forecast of potentially reaching $2.5 billion annually this year, reflecting a significant performance increase [6][11] - Mass gaming and slot win at MBS reached $843 million, showing a 97% growth compared to 2019 and a 40% increase year-over-year [6][11] - Macau's EBITDA was $566 million for the quarter, indicating underperformance in that market [7][10] Business Line Data and Key Metrics Changes - MBS's EBITDA margin was 55.3%, while Macau's EBITDA margin for the portfolio properties was 31.3%, down 80 basis points year-over-year [10][11] - The Londoner is on track to achieve an annualized EBITDA of $1 billion, with a focus on increasing market share and EBITDA through strategic reinvestment [9][12] Market Data and Key Metrics Changes - Macau's rolling program EBITDA would have been lower by $7 million if the expected hold had been maintained, indicating fluctuations in market performance [10] - The mass gaming market share in Macau improved by 8% for the quarter, suggesting a positive trend in customer engagement [17] Company Strategy and Development Direction - The company is focusing on aggressive customer reinvestment strategies to regain market share in Macau, with a commitment to adjusting reinvestment levels based on market conditions [15][18] - There is an emphasis on leveraging high-quality investments in marketing and product offerings to attract high-value tourism, particularly in Singapore [11][41] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the need for improved customer reinvestment in Macau and expressed confidence in the potential for EBITDA growth through strategic adjustments [18][19] - The company remains optimistic about the long-term prospects in Singapore, citing strong customer demand and government support as key factors for continued success [41][45] Other Important Information - The company repurchased $800 million of LVS stock during the quarter and paid a recurring dividend of $0.25 per share, indicating a commitment to returning capital to shareholders [12] - The company is exploring new development opportunities in jurisdictions like Thailand, which is seen as a significant potential market for future growth [90] Q&A Session Summary Question: How is the company planning to turn the tide in Macau? - Management has implemented a more aggressive customer reinvestment program since late April, with initial positive results observed in May and June [15][16] Question: What is driving the improvement in Macau's market? - The market saw acceleration from May, with a notable performance in June driven by events and improved customer density [25][26] Question: How sustainable is the recent performance in Singapore? - Management believes the strong performance is sustainable due to high-quality investments and a growing customer base attracted by unique experiences [41][46] Question: What are the expectations for EBITDA margins in Macau? - The focus is on driving revenue growth, with margins being influenced by promotional activities and customer reinvestment strategies [82][85] Question: What is the company's approach to credit in Macau? - Credit plays a small role in overall GGR, primarily extended to premium patrons, and is not a significant factor in current operations [118] Question: How is the retail mall portfolio performing? - Retail tenant sales in Macau grew by about 10% year-over-year, with luxury sales showing signs of improvement [123]

Financial Data and Key Metrics Changes - The company reported an EBITDA of $768 million for Marina Bay Sands (MBS), with a forecast of potentially reaching $2.5 billion annually this year, marking a significant performance milestone [5][10] - Mass gaming and slot win reached $843 million, reflecting a 97% growth compared to 2019 and a 40% increase year-over-year [5][10] - Macau's EBITDA was $566 million for the quarter, indicating underperformance in that market [6][9] Business Line Data and Key Metrics Changes - MBS achieved an EBITDA margin of 55.3%, while Macau's EBITDA margin for the portfolio properties was 31.3%, down 80 basis points year-over-year [9][10] - The Londoner is on track to achieve an annualized EBITDA of $1 billion, with a new approach aimed at increasing market share and EBITDA [8][11] Market Data and Key Metrics Changes - Macau's GGR accelerated this quarter, indicating a positive trend despite previous underperformance [8][9] - The VIP segment in Macau saw a year-on-year increase of 26%, while non-rolling and slot win also improved, indicating a healthy market recovery [24][52] Company Strategy and Development Direction - The company is focusing on aggressive customer reinvestment strategies to regain market share in Macau, with a goal of improving EBITDA through targeted reinvestment [7][14] - There is an emphasis on enhancing the customer experience and product offerings, particularly in Singapore, to capitalize on high-value tourism [10][40] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the need for improved customer reinvestment in Macau and expressed optimism about future growth potential [17][38] - The company is confident in the long-term prospects of Singapore, citing strong visitation and high customer spending as key drivers [40][45] Other Important Information - The company repurchased $800 million of LVS stock during the quarter and paid a recurring dividend of $0.25 per share [11] - The company is exploring new development opportunities in jurisdictions like Thailand, contingent on regulatory frameworks [92] Q&A Session Summary Question: How is the company planning to turn around its performance in Macau? - Management has implemented a more aggressive customer reinvestment program since late April, with initial positive results observed [14][15] Question: What is driving the recent improvement in Macau's market? - The market saw acceleration from May, driven by increased customer density and a favorable events calendar [24][60] Question: Can the company sustain the high EBITDA levels seen in Singapore? - While the recent performance is impressive, management cautioned against overestimating future results, emphasizing the unpredictable nature of the market [27][29] Question: What is the company's strategy regarding capital allocation in Macau? - The focus remains on returning capital to shareholders, with plans to increase dividends as cash flow improves [20][21] Question: How is the competitive environment in Macau evolving? - The market remains highly competitive, with all operators increasing promotional activities to capture market share [97][100]

Forward Looking Statements This presentation contains forward-looking statements made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements include the discussions of our business strategies and expectations concerning future operations, margins, profitability, liquidity and capital resources. In addition, in certain portions included in this presentation, the words "anticipates," "believes," "estimates," "expects," "intends," "may," ...

EXHIBIT 99.1 Las Vegas Sands Reports Second Quarter 2025 Results For the quarter ended June 30, 2025 LAS VEGAS, July 23, 2025 - Las Vegas Sands (NYSE: LVS), the leading global developer and operator of Integrated Resorts, today reported financial results for the quarter ended June 30, 2025. PRESS RELEASE For Immediate Release "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 ...

Macau Gaming Revenue Resurgence - Macau's gambling sector is experiencing a post-pandemic recovery, with June gross gaming revenue showing a 19% year-over-year improvement [1] - June gambling revenue reached $26 billion [2] - Gaming revenue jump may be a result of promotional spending [3] - Macau has not yet returned to pre-pandemic levels, making future earnings reports crucial for insight [4] Stock Market Impact - Casino stocks with Macau exposure are rising, including Wind (up 8%), Las Vegas Sands (up 8%), Melco (up 11%), and MGM Resorts (up 6%) [2] - Melco has seen gains of 52% over the last 3 months [3] Diversification Efforts - Macau is attempting to diversify its economy beyond gambling, focusing on shows and events like NBA exhibition games [5][6] - The success of attracting non-gambling spending is yet to be determined [6] Economic Factors - The Chinese macro backdrop remains a key consideration for Macau casinos [4] - There can be a divergence between the Chinese economy and gambling activity in Macau, as it is fueled by serious gamblers [5]

Core Insights - Las Vegas Sands has contributed $515,000 to The WASH Foundation in 2025, increasing total contributions to over $6.1 million since 2014 [1][2][4] Group 1: Funding and Initiatives - The 2025 Sands Cares investment supports three main priorities: hygiene supplies for those in need, funding local water initiatives, and expanding hygiene education programs globally [2][4] - The Global Hygiene Kit Build aims to assemble 70,000 hygiene kits for distribution, with a total of 1,034,000 kits produced since 2014 [4][5] - The Drop by Drop Project continues to provide grants to local nonprofits in Macao and Singapore, focusing on water stewardship and community engagement [5][6] Group 2: Partnership and Impact - The partnership with The WASH Foundation has led to significant milestones, including the transformation of a recycling center into a soap manufacturing operation and the introduction of mobile shower units for the homeless [3][7] - Since 2011, Sands and its partners have diverted over 663,000 pounds of waste and distributed 4.7 million bars of soap to those in need [7][8] - The collaboration enhances corporate responsibility efforts by engaging team members in volunteer work and promoting environmental advocacy [8][12] Group 3: Organizational Background - The WASH Foundation aims to provide safe water, sanitation, and hygiene to the 4.2 billion people lacking access to these resources [2][13] - Since its establishment in 2009, The WASH Foundation has served over 17.4 million people and distributed over 91.3 million bars of soap [14]