Las Vegas Sands chief executive Patrick Dumont has maintained confidence in Macau and Singapore after weaker high-value customer activity affected the third quarter of 2026.
Group revenue declined 3.5% to $3.22 billion, while net profit fell 28% to $352 million. Adjusted property EBITDA dropped 16.4% to $1.12 billion, leaving management focused on a recovery in premium customer spending.
Dumont Views Weaker Customer Activity As A Temporary Setback In Asia
Dumont attributed the slowdown partly to global uncertainty affecting tourism and spending, with high-value customers visiting less frequently.
“We have a long-term view on growth in Asia. We really believe fundamentally the trends of economic growth and wealth creation are there, and that they’ll continue in the future. But this quarter was definitely aberrational in that regard,” he said.
“When the customers don’t show up, it’s a little problematic. We feel pretty confident that the future will not be impacted by this. We just know what our customers like to do and how frequently they show up and what we have on offer.”
Singapore Revenue Falls While Macau Growth Limits The Group’s Decline
Marina Bay Sands revenue decreased 9.9% to $1.29 billion for the quarter. However, Dumont stayed optimistic about the market’s long-term potential.
“We remain enthusiastic about our growth prospects in Singapore both today and upon the completion of our ongoing expansion project, which will meaningfully increase our suite capacity and entertainment offerings, including through the introduction of an arena designed to be the most important entertainment venue in the region,” he noted.
Conversely, Macau revenue increased by 1.8% to $1.94 billion, providing a partial offset. Casino revenue across the group fell 5.4% to $2.37 billion, although other revenue categories grew. Operating income declined to $618 million from $719 million, down by 14.1% from the previous year.
Sands Maintains Investment And Shareholder Payments Despite Lower Earnings
Across the first nine months, group revenue rose 6.3% to $9.96 billion. The operating profit went up 1.4% to $2.14bn, while pre-tax profit stayed the same at $1.66bn. Also, net profit fell by 3.7% to $1.37bn, but Sands’ net profit declined 1.2% to $1.22bn.
“We remain confident in our long-term strategy in Singapore and Macao and will continue to invest in future growth,” Dumont said.
“We’re fortunate to have the balance sheet and cash flow strength to support our meaningful capital investment programmes, positioning our portfolio of properties to capitalise on the growing demand for premium travel and world-class entertainment experiences in the region.”
The sharper decline in Las Vegas Sands’ Q3 EBITDA demonstrates the importance of premium customer spending to resort profitability. Sustained investment supports Sands’ longer-term strategy, but subsequent results must show whether returning customers translate into stronger earnings.
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