Las Vegas Sands (LVS) 10-Q 29 Apr 22 2022 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2022	Apr. 26, 2022
Cover [Abstract]
Document type	10-Q
Document quarterly report	true
Document period end date	Mar. 31, 2022
Document transition report	false
Entity file number	001-32373
Entity registrant name	LAS VEGAS SANDS CORP.
Entity incorporation, state or country code	NV
Entity tax identification number	27-0099920
Entity address, address line one	3883 Howard Hughes Parkway, Suite 550
Entity address, city	Las Vegas,
Entity address, state or province	NV
Entity address, postal zip code	89169
City area code	702
Local phone number	923-9000
Title of 12(b) security	Common Stock ($0.001 par value)
Trading symbol	LVS
Security exchange name	NYSE
Entity current reporting status	Yes
Entity interactive data current	Yes
Entity filer category	Large Accelerated Filer
Entity small business	false
Entity emerging growth company	false
Entity shell company	false
Entity common stock, shares outstanding		764,109,163
Entity central index key	0001300514
Current fiscal year end date	--12-31
Document fiscal year focus	2022
Document fiscal period focus	Q1
Amendment flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Current assets:
Cash and cash equivalents	$ 6,430	$ 1,854
Restricted cash and cash equivalents	16	16
Accounts receivable, net of provision for credit losses of $234 and $232	147	202
Inventories	23	22
Prepaid expenses and other	109	113
Current assets of discontinued operations held for sale	0	3,303
Total current assets	6,725	5,510
Loan receivable	1,200	0
Property and equipment, net	11,709	11,850
Deferred income taxes, net	186	297
Leasehold interests in land, net	2,152	2,166
Intangible assets, net	19	19
Other assets, net	256	217
Total assets	22,247	20,059
Current liabilities:
Accounts payable	69	77
Construction payables	245	227
Other accrued liabilities	1,091	1,334
Income taxes payable	662	32
Current maturities of long-term debt	72	74
Current liabilities of discontinued operations held for sale	0	821
Total current liabilities	2,139	2,565
Other long-term liabilities	362	352
Deferred income taxes	164	173
Long-term debt	14,905	14,721
Total liabilities	17,570	17,811
Commitments and contingencies (Note 10)
Equity:
Preferred stock, $0.001 par value, 50 shares authorized, zero shares issued and outstanding	0	0
Common stock, $0.001 par value, 1,000 shares authorized, 833 shares issued, 764 shares outstanding	1	1
Treasury stock, at cost, 69 shares	(4,481)	(4,481)
Capital in excess of par value	6,656	6,646
Accumulated other comprehensive loss	(29)	(22)
Retained earnings (deficit)	2,382	(148)
Total Las Vegas Sands Corp. stockholders’ equity	4,529	1,996
Noncontrolling interests	148	252
Total equity	4,677	2,248
Total liabilities and equity	$ 22,247	$ 20,059

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Accounts receivable, provision for credit loss, current	$ 234	$ 232
Preferred stock, par value (in usd per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	50	50
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized	1,000	1,000
Common stock, shares issued	833	833
Common stock, shares outstanding	764	764
Treasury stock, shares	69	69

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues:
Net revenues	$ 943	$ 1,196
Operating expenses:
Provision for credit losses	4	4
General and administrative	218	225
Corporate	59	49
Pre-opening	4	5
Development	60	9
Depreciation and amortization	264	255
Amortization of leasehold interests in land	14	14
Loss on disposal or impairment of assets	6	3
Total operating expenses	1,245	1,292
Operating loss	(302)	(96)
Other income (expense):
Interest income	4	1
Interest expense, net of amounts capitalized	(156)	(154)
Other expense	(22)	(17)
Loss from continuing operations before income taxes	(476)	(266)
Income tax expense	(2)	(14)
Net loss from continuing operations	(478)	(280)
Income (loss) from operations of discontinued operations, net of tax	46	(62)
Gain on disposal of discontinued operations, net of tax	2,861	0
Net income (loss) from discontinued operations, net of tax	2,907	(62)
Net income (loss)	2,429	(342)
Net loss attributable to noncontrolling interests from continuing operations	101	64
Net income (loss) attributable to Las Vegas Sands Corp.	$ 2,530	$ (278)
Earnings (loss) per share
Loss from continuing operations, per basic share	$ (0.49)	$ (0.28)
Income (loss) from discontinued operations, net of tax, per basic share	3.80	(0.08)
Basic (in usd per share)	3.31	(0.36)
Loss from continuing operations, per diluted share	(0.49)	(0.28)
Income (loss) from discontinued operations, net of tax, per diluted share	3.80	(0.08)
Diluted (in usd per share)	$ 3.31	$ (0.36)
Weighted average shares outstanding:
Basic (in shares)	764	764
Diluted (in shares)	764	764
Casino [Member]
Revenues:
Net revenues	$ 627	$ 865
Operating expenses:
Cost of revenue	468	578
Rooms [Member]
Revenues:
Net revenues	95	96
Operating expenses:
Cost of revenue	43	42
Food and Beverage [Member]
Revenues:
Net revenues	53	56
Operating expenses:
Cost of revenue	65	71
Mall [Member]
Revenues:
Net revenues	149	156
Operating expenses:
Cost of revenue	18	15
Convention, Retail and Other [Member]
Revenues:
Net revenues	19	23
Operating expenses:
Cost of revenue	$ 22	$ 22

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 2,429	$ (342)
Currency translation adjustment	(4)	(42)
Cash flow hedge fair value adjustment	(6)	0
Total comprehensive income (loss)	2,419	(384)
Comprehensive loss attributable to noncontrolling interests	104	66
Comprehensive income (loss) attributable to Las Vegas Sands Corp.	$ 2,523	$ (318)

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Treasury Stock [Member]	Capital in Excess of Par Value [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings (Deficit) [Member]	Noncontrolling Interests [Member]
Beginning balance at Dec. 31, 2020	$ 3,538	$ 1	$ (4,481)	$ 6,611	$ 29	$ 813	$ 565
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(342)					(278)	(64)
Currency translation adjustment	(42)				(40)		(2)
Cash flow hedge fair value adjustment	0
Exercise of stock options	19			15			4
Stock-based compensation	4			3			1
Ending balance at Mar. 31, 2021	3,177	1	(4,481)	6,629	(11)	535	504
Beginning balance at Dec. 31, 2021	2,248	1	(4,481)	6,646	(22)	(148)	252
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	2,429					2,530	(101)
Currency translation adjustment	(4)				(3)		(1)
Cash flow hedge fair value adjustment	(6)				(4)		(2)
Stock-based compensation	10			10			0
Ending balance at Mar. 31, 2022	$ 4,677	$ 1	$ (4,481)	$ 6,656	$ (29)	$ 2,382	$ 148

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Cash flows from operating activities from continuing operations:
Net loss from continuing operations	$ (478)	$ (280)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	264	255
Amortization of leasehold interests in land	14	14
Amortization of deferred financing costs and original issue discount	14	12
Change in fair value of derivative asset/liability	1	0
(Gain) loss on disposal or impairment of assets	5	(3)
Stock-based compensation expense	10	4
Provision for credit losses	4	4
Foreign exchange loss	22	16
Deferred income taxes	(31)	(16)
Changes in operating assets and liabilities:
Accounts receivable	50	40
Other assets	8	(11)
Accounts payable	(8)	(19)
Other liabilities	(375)	(204)
Net cash used in operating activities from continuing operations	(500)	(188)
Cash flows from investing activities from continuing operations:
Capital expenditures	(137)	(291)
Proceeds from disposal of property and equipment	3	3
Acquisition of intangible assets and other	(12)	0
Net cash used in investing activities from continuing operations	(146)	(288)
Cash flows from financing activities from continuing operations:
Proceeds from exercise of stock options	0	19
Proceeds from long-term debt	201	505
Repayments of long-term debt	(17)	(18)
Payments of financing costs	(9)	(8)
Transactions with discontinued operations	4,998	(18)
Net cash generated from financing activities from continuing operations	5,173	480
Cash flows from discontinued operations:
Net cash generated from (used in) operating activities	140	(5)
Net cash generated from (used in) investing activities	4,858	(17)
Net cash provided (to) by continuing operations and (used in) financing activities	(4,998)	18
Net cash used in discontinued operations	0	(4)
Effect of exchange rate on cash, cash equivalents and restricted cash	(6)	(12)
Increase (decrease) in cash, cash equivalents and restricted cash	4,521	(12)
Cash, cash equivalents and restricted cash at beginning of period	1,925	2,137
Cash, cash equivalents and restricted cash at end of period	6,446	2,125
Less: cash, cash equivalents and restricted cash at end of period for discontinued operations	0	(35)
Cash, cash equivalents and restricted cash at end of period for continuing operations	6,446	2,090
Supplemental disclosure of cash flow information from continuing operations:
Cash payments for interest, net of amounts capitalized	226	240
Cash payments for taxes, net of refunds	10	75
Change in construction payables	$ 18	$ (119)

Organization and Business of Co

Organization and Business of Company	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business of Company	Organization and Business of Company The accompanying condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto included in the Annual Report on Form 10-K of Las Vegas Sands Corp. (“LVSC”), a Nevada corporation, and its subsidiaries (collectively the “Company”) for the year ended December 31, 2021, and have been prepared by the Company pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted pursuant to such rules and regulations; however, the Company believes the disclosures herein are adequate to make the information presented not misleading. In the opinion of management, all adjustments and normal recurring accruals considered necessary for a fair statement of the results for the interim period have been included. The interim results reflected in the unaudited condensed consolidated financial statements are not necessarily indicative of expected results for the full year. COVID-19 Pandemic Update In early January 2020, an outbreak of a respiratory illness caused by a novel coronavirus (“COVID-19”) was identified and the disease spread rapidly across the world causing the World Health Organization to declare the outbreak of a pandemic on March 12, 2020 (the “COVID-19 Pandemic”). Governments around the world mandated actions to contain the spread of the virus that included stay-at-home orders, quarantines, capacity limits, closures of non-essential businesses, including entertainment activities, and significant restrictions on travel. The government actions varied based upon a number of factors, including the extent and severity of the COVID-19 Pandemic within their respective countries and jurisdictions. Macao Visitation to the Macao Special Administrative Region (“Macao”) of the People’s Republic of China (“China”) has remained substantially below pre-COVID-19 levels as a result of various government policies limiting or discouraging travel. During February 2022, vaccination requirements for arrivals from certain destinations were tightened. As of the date of this report, other than people from mainland China who in general may enter Macao without quarantine subject to them holding the appropriate travel documents, a negative COVID-19 test result issued within a specified time period and a green health-code, there remains in place a complete ban on entry or a need to undergo various quarantine requirements depending on the person’s residency and recent travel history. The Company’s operations in Macao will continue to be impacted and subject to changes in the government policies of Macao, China, Hong Kong and other jurisdictions in Asia addressing travel and public health measures associated with COVID-19. Various health safeguards implemented by the Macao government remain in place, including mandatory mask protection, limitation on the number of seats per table game, slot machine spacing and temperature checks. Management is currently unable to determine when the remaining measures will be eased or cease to be necessary. As of the date of this report, most businesses are allowed to remain open, subject to social distancing and health code checking requirements as designated by the Macao government. In January 2022, the Macao government commenced the roll out of a non-mandatory contact tracing QR code function at a range of businesses including government buildings, restaurants, hotels and other public venues. As with prior periods, in support of the Macao government’s initiatives to fight the COVID-19 Pandemic, the Company provided one tower at the Sheraton Grand Macao to the Macao government to house individuals who returned to Macao for quarantine purposes at various times. The Company’s Macao gaming operations remained open during the three months ended March 31, 2022. Guest visitation to the properties, however, has been adversely affected during the three months ended March 31, 2022 due to outbreaks in Hong Kong in late January and early February 2022 and in Guangdong province in March 2022, resulting in tighter travel restrictions. Operating hours at restaurants across the Company’s Macao properties are continuously being adjusted in line with fluctuations in guest visitation. The majority of retail outlets in the Company’s various shopping malls are open with reduced operating hours. The timing and manner in which these areas will return to full operation are currently unknown. The Company’s ferry operations between Macao and Hong Kong remain suspended. The timing and manner in which the Company’s ferry operations will be able to resume are currently unknown. The Company’s operations in Macao have been significantly impacted by the reduced visitation to Macao. The Macao government announced total visitation from mainland China to Macao increased approximately 9.9% and decreased 76.9% during the three months ended March 31, 2022, as compared to the same period in 2021 and 2019 (pre-pandemic), respectively. The Macao government also announced gross gaming revenue decreased approximately 24.8% and 76.7% during the three months ended March 31, 2022, as compared to the same period in 2021 and 2019, respectively. Singapore In Singapore, Vaccinated Travel Lanes (“VTLs”) were introduced for a number of key source markets in November and December of 2021 for vaccinated visitors with a negative COVID-19 test. Due to the emergence of the Omicron variant, however, new ticket sales for the VTLs were suspended on December 23, 2021 through January 20, 2022. The VTL program was terminated on March 31, 2022, and the Vaccination Travel Framework (“VTF”) was launched on April 1, 2022, to facilitate the resumption of travel for all travelers, including short-term visitors. Under the VTF, all fully vaccinated travelers and non-fully vaccinated children aged 12 and below are permitted to enter Singapore, without entry approvals or taking VTL transport. Operations at Marina Bay Sands will continue to be impacted and subject to changes in the government policies of Singapore and other jurisdictions in Asia addressing travel and public health measures associated with COVID-19. Under the VTF program, all countries or regions will be classified under a “general travel” or “restricted” category, and individual travelers will be assigned border measures based on their vaccination status. This allows all fully vaccinated travelers from any country or region to enter Singapore quarantine-free, as long as they have not visited any countries or regions listed as a restricted category in the past seven days. There are currently no countries or regions on the restricted category list; however, this government policy may be adjusted in line with any developments to the local and global COVID-19 situation. Visitation to Marina Bay Sands continues to be impacted by the effects of the COVID-19 Pandemic. The Singapore Tourism Board (“STB”) announced for the three months ended March 31, 2022, total visitation to Singapore increased from approximately 69,000 to 246,000, or 258.2%, as compared to the same period in 2021, while visitation decreased 94.8%, when compared to the same period in 2019. Summary The disruptions arising from the COVID-19 Pandemic continued to have a significant adverse impact on the Company’s financial condition and operations during the three months ended March 31, 2022. The duration and intensity of this global health situation and related disruptions are uncertain. Given the dynamic nature of these circumstances, the impact on the Company’s consolidated results of operations, cash flows and financial condition in 2022 will be material, but cannot be reasonably estimated at this time as it is unknown when the impact of the COVID-19 Pandemic will end, when or how quickly the current travel and operational restrictions will be modified or cease to be necessary and the resulting impact on the Company’s business and the willingness of tourism patrons to spend on travel and entertainment and business patrons to spend on MICE. While each of the Company’s properties were open with some operating at reduced levels due to lower visitation and required safety measures in place during the three months ended March 31, 2022, the current economic and regulatory environment on a global basis and in each of the Company’s jurisdictions continues to evolve. The Company cannot predict the manner in which governments will react as the global and regional impact of the COVID-19 Pandemic changes over time, which could significantly alter the Company’s current operations. The Company has a strong balance sheet and sufficient liquidity in place, including total cash and cash equivalents balance, excluding restricted cash and cash equivalents, of $6.43 billion and access to $1.50 billion, $1.54 billion and $438 million of available borrowing capacity from the LVSC Revolving Facility, 2018 SCL Revolving Facility and the 2012 Singapore Revolving Facility, respectively, as of March 31, 2022. The Company believes it is able to support continuing operations, complete the major construction projects that are underway and respond to the current COVID-19 Pandemic challenges. The Company has taken various mitigating measures to manage through the current environment, including a cost and capital expenditure reduction program to minimize cash outflow for non-essential items. Macao Subconcession Gaming in Macao is administered by the government through concession agreements awarded to three different concessionaires and three subconcessionaires, of which Venetian Macau Limited (“VML,” a subsidiary of Sands China Ltd.) is one. These concession agreements expire on June 26, 2022. If VML’s subconcession is not extended or renewed, VML may be prohibited from conducting gaming operations in Macao, and VML could cease to generate revenues from the gaming operations when the subconcession agreement expires on June 26, 2022. In addition, all of VML’s casino premises and gaming-related equipment could be automatically transferred to the Macao government without any compensation to VML. On January 18, 2022, the Macao Legislative Assembly published a draft bill entitled Amendment to Law No. 16/2001 to amend Macao’s gaming law (the “Gaming Law”). Certain changes to the Gaming Law set out in the draft bill include a reduction in the term of future gaming concessions to ten (10) years; authorization of up to six (6) gaming concession contracts; an increase in the minimum capital contribution of concessionaires to 5 billion patacas (approximately $620 million at exchange rates in effect on March 31, 2022); an increase in the percentage of the share capital of the concessionaire that must be held by the local managing director to 15%; a requirement that casinos be located in real estate owned by the concessionaire; and a prohibition of revenue sharing arrangements between gaming promoters and concessionaires. On March 3, 2022, the Macao government announced its intention to extend the term of Macao’s six concession and subconcession contracts from June 26, 2022 until December 31, 2022 in order to ensure sufficient time to complete the amendment to the Gaming Law and conduct a public tender for the awarding of new gaming concessions. The Macao government invited VML to submit a formal request for an extension along with a commitment to pay up to 47 million patacas (approximately $6 million at exchange rates in effect on March 31, 2022) and provide a bank guarantee to secure the fulfillment of VML’s payment obligations towards its employees should VML be unsuccessful in tendering for a new concession contract after its subconcession expires. VML submitted its request for an extension on March 14, 2022. The extension of VML’s subconcession is subject to approval by the Macao government, as well as entering into a subconcession amendment contract with Galaxy Casino Company Limited. The Company is actively monitoring developments with respect to the Gaming Law amendment and concession renewal process and continues to believe it will be successful in extending the term of its subconcession and/or obtaining a new gaming concession when its current subconcession expires; however, it is possible the Macao government could further change or interpret the associated gaming laws in a manner that could negatively impact the Company. Under the Company’s Sands China Ltd. (“SCL”) senior notes indentures, upon the occurrence of any event resulting from any change in the Gaming Law (as defined in the indentures) or any action by the gaming authority after which none of SCL or any of its subsidiaries own or manage casino or gaming areas or operate casino games of fortune and chance in Macao in substantially the same manner as they were owning or managing casino or gaming areas or operating casino games as at the issue date of the senior notes, for a period of 30 consecutive days or more, and such event has a material adverse effect on the financial condition, business, properties or results of operations of SCL and its subsidiaries, taken as a whole, each holder of the SCL senior notes would have the right to require the Company to repurchase all or any part of such holder’s SCL senior notes at par, plus any accrued and unpaid interest (the “Investor Put Option”). Additionally, under the 2018 SCL Credit Facility, the events that trigger an Investor Put Option under the SCL senior notes (as described above) would be an event of default, which may result in commitments being immediately cancelled, in whole or in part, and the related outstanding balances and accrued interest, if any, becoming immediately due and payable. The subconcession not being extended or renewed and the potential impact if holders of the notes and the agent under the 2018 SCL Credit Facility have the ability to, and make the election to, accelerate the repayment of the Company’s debt would have a material adverse effect on the Company’s business, financial condition, results of operations and cash flows. The Company intends to follow the process for a concession renewal once the process and requirements are announced by the Macao government. Marina Bay Sands Gaming License In April 2022, the Company paid 72 million Singapore dollars ("SGD," approximately $53 million at exchange rates in effect at the time of the transaction) to the Singapore Casino Regulatory Authority as part of the process to renew its gaming license at Marina Bay Sands, which will now expire in April 2025. Recent Accounting Pronouncements The Company’s management has evaluated all of the recently issued, but not yet effective, accounting standards that have been issued or proposed by the Financial Accounting Standards Board (“FASB”) or other standards-setting bodies through the filing date of these financial statements and does not believe the future adoption of any such pronouncements will have a material effect on the Company’s financial position, results of operations and cash flows.

Discontinued Operations

Discontinued Operations	3 Months Ended
	Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Discontinued Operations	Discontinued Operations On February 23, 2022, the Company completed the previously announced sale of its Las Vegas real property and operations (the “Closing”), including The Venetian Resort Las Vegas and the Sands Expo and Convention Center (collectively referred to as the “Las Vegas Operations”), to VICI Properties L.P. (“PropCo”) and Pioneer OpCo, LLC (“OpCo”) for an aggregate purchase price of approximately $6.25 billion (the “Las Vegas Sale”). Under the terms of the agreements related to the Las Vegas Sale, OpCo acquired subsidiaries that hold the operating assets and liabilities of the Las Vegas Operations for approximately $1.05 billion in cash, subject to certain post-closing adjustments, and $1.20 billion in seller financing in the form of a six-year term loan credit and security agreement (the “Seller Financing Loan Agreement”) and PropCo acquired subsidiaries that hold the real estate and real estate-related assets of the Las Vegas Operations for approximately $4.0 billion in cash. Upon closing, the Company received approximately $5.05 billion in cash proceeds, before transaction costs and working capital adjustments of $80 million, and recognized a gain on disposal of $3.61 billion, before income tax expense of $750 million, during the three months ended March 31, 2022. As there is no continuing involvement between the Company and the Las Vegas Operations, the Company accounted for the transaction as a sale of a business. The Company concluded the Las Vegas Operations met the criteria for held for sale and discontinued operations beginning in the first quarter of 2021. As a result, the Las Vegas Operations is presented in the accompanying condensed consolidated statements of operations and cash flows as a discontinued operation for all periods presented. The Company reported the operating results and cash flows related to the Las Vegas Operations through February 22, 2022. Current and non-current assets and liabilities of the Las Vegas Operations as of December 31, 2021, are presented in the accompanying condensed consolidated balance sheets as current assets and liabilities held for sale. Unless otherwise noted, amounts and disclosures throughout these Notes to Consolidated Financial Statements relate to the Company's continuing operations. Contingent Lease Support Agreement On February 23, 2022, in connection with the Closing, the Company and OpCo entered into a post-closing contingent lease support agreement (the “Contingent Lease Support Agreement”) pursuant to which, among other things, the Company may be required to make certain payments (“Support Payments”) to OpCo. The Support Payments are payable on a monthly basis following the Closing through the year ending December 31, 2023, based upon the performance of the Las Vegas Operations relative to certain agreed upon target metrics and subject to quarterly and annual adjustments. The target metrics are measured against a benchmark annual EBITDAR (as defined in the Contingent Lease Support Agreement) of the Las Vegas Operations equal to $426 million for the period beginning on the date of the Closing and ending December 31, 2022 and $500 million for the period beginning January 1, 2023 and ending December 31, 2023. The Company’s payment obligations are subject to an annual cap equal to $213 million for the annual period beginning on the date of the Closing and ending December 31, 2022 and $250 million for the annual period beginning January 1, 2023 and ending December 31, 2023. Each monthly Support Payment is subject to a prorated cap based on the annual cap. No Support Payments were made for the period post-Closing through March 31, 2022. Seller Financing Loan Agreement At the Closing, the Company, as lender, OpCo, as borrower, the parent company of OpCo (“Holdings”) and certain subsidiaries of OpCo as guarantors party thereto (collectively, and with Holdings, the “Guarantors” and, together with OpCo in its capacity as borrower, the “Loan Parties”), entered into the Seller Financing Loan Agreement. Refer to “Note 3 — Loan Receivable” for further information. The following table represents summarized balance sheet information of assets and liabilities of the discontinued operation: December 31, (In millions) Cash and cash equivalents $ 55 Accounts receivable, net of provision for credit losses of $58 126 Inventories 9 Prepaid expenses and other 23 Property and equipment, net 2,864 Other assets, net 226 Total held for sale assets in the balance sheet $ 3,303 Accounts payable $ 24 Construction payables 8 Other accrued liabilities 318 Long-term debt 2 Deferred amounts related to mall sale transactions 338 Other long-term liabilities 131 Total held for sale liabilities in the balance sheet $ 821 The following table represents summarized income statement information of discontinued operations: Period Ended February 22, 2022 (1) Three Months Ended (In millions) Revenues: Casino $ 61 $ 53 Rooms 78 45 Food and beverage 43 24 Convention, retail and other 46 17 Net revenues 228 139 Resort operations expenses 107 111 Provision for credit losses 3 — General and administrative 55 75 Depreciation and amortization — 25 Loss on disposal or impairment of assets — 2 Operating income (loss) 63 (74) Interest expense (2) (3) Other expense (3) (1) Income (loss) from operations of discontinued operations 58 (78) Gain on disposal of discontinued operations 3,611 — Income (loss) from discontinued operations, before income tax 3,669 (78) Income tax (expense) benefit (762) 16 Net income (loss) from discontinued operations presented in the statement of operations $ 2,907 $ (62) Adjusted Property EBITDA $ 63 $ (47) __________________________ (1) Includes the Las Vegas Operations financial results for the period from January 1, 2022 through February 22, 2022. For the 53-day period ended February 22, 2022 and for the three months ended March 31, 2021, the Company’s Las Vegas Operations were classified as a discontinued operation held for sale. The Company applied the intraperiod tax allocation rules to allocate the provision for income taxes between continuing operations and discontinued operations using the “with and without” approach. The Company calculated income tax expense from all financial statement components (continuing and discontinued operations), the “with” computation, and compared that to the income tax expense attributable to continuing operations, the “without” computation. The difference between the “with” and “without” computations was allocated to discontinued operations. The Company’s effective income tax rate from discontinued operations was 20.8% for the 53-day period ended February 22, 2022

Loan Receivable

Loan Receivable	3 Months Ended
	Mar. 31, 2022
Loans and Leases Receivable Disclosure [Abstract]
Loan Receivable	Loan Receivable Seller Financing Loan Agreement At the Closing, the Company and the Loan Parties entered into the Seller Financing Loan Agreement. The Seller Financing Loan Agreement provides for a six The Seller Loan will bear interest at a rate equal to 1.50% per annum for the calendar years ending December 31, 2022 and 2023, and 4.25% per annum for each calendar year thereafter, subject to an increase of 1.00% per annum for any interest OpCo elects to pay by increasing the principal amount of the Seller Loan prior to January 1, 2024, and an increase of 1.50% per annum for any such election during the calendar year ending December 31, 2024. Any interest to be paid after December 31, 2024, will be paid in cash. The Seller Financing Loan Agreement contains certain customary representations and warranties and covenants, subject to customary exceptions and thresholds. The Seller Financing Loan Agreement’s negative covenants restrict the ability of the Loan Parties and their subsidiaries to, among other things, (i) incur debt, (ii) create certain liens on their assets, (iii) dispose of their assets, (iv) make investments or restricted payments, including dividends, (v) merge, liquidate, dissolve, change their business or consolidate with other entities and (vi) enter into affiliate transactions. The Seller Financing Loan Agreement also contains customary events of default, including payment defaults, cross defaults to material debt, bankruptcy and insolvency, breaches of covenants and inaccuracy of representations and warranties, subject to customary grace periods. Upon an event of default, the Company may declare any then-outstanding amounts due and payable and exercise other customary remedies available to a secured lender. Loan receivables are carried at the outstanding principal amount. A provision for credit loss on loan receivables is established when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. The Company determines this by considering several factors, including the credit risk and current financial condition of the borrower, the borrower’s ability to pay current obligations, historical trends, and economic and market conditions. The Company performs a credit quality assessment on the loan receivable on a quarterly basis and reviews the need for an allowance under Accounting Standards Update No. 2016-13. The Company evaluates the extent and impact of any credit deterioration that could affect the performance and the value of the secured property, as well as the financial and operating capability of the borrower. The Company also evaluates and considers the overall economic environment, casino and hospitality industry and geographic sub-market in which the secured property is located. Based on the Company’s assessment of the credit quality of the loan receivable, the Company believes it will collect all contractual amounts due under the loan. Accordingly, no provision for credit losses on the loan receivable was established as of March 31, 2022. Interest income is recorded on an accrual basis at the stated interest rate and is recorded in interest income in the accompanying condensed consolidated statements of operations. The carrying value of the loan receivable is $1.20 billion as of March 31, 2022, which approximates fair value. Interest income recognized on the loan was $2 million during the three months ended March 31, 2022.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Long-term Debt	Long-Term Debt Long-term debt consists of the following: March 31, December 31, (In millions) Corporate and U.S. Related (1) : 3.200% Senior Notes due 2024 (net of unamortized original issue discount and deferred financing costs of $8) $ 1,742 $ 1,742 2.900% Senior Notes due 2025 (net of unamortized original issue discount and deferred financing costs of $3) 497 497 3.500% Senior Notes due 2026 (net of unamortized original issue discount and deferred financing costs of $8) 992 992 3.900% Senior Notes due 2029 (net of unamortized original issue discount and deferred financing costs of $7) 743 743 Macao Related (1) : 5.125% Senior Notes due 2025 (net of unamortized original issue discount and deferred financing costs of $8 and $9, respectively) 1,792 1,791 3.800% Senior Notes due 2026 (net of unamortized original issue discount and deferred financing costs of $6) 794 794 2.300% Senior Notes due 2027 (net of unamortized original issue discount and deferred financing costs of $7) 693 693 5.400% Senior Notes due 2028 (net of unamortized original issue discount and deferred financing costs of $15) 1,885 1,885 2.850% Senior Notes due 2029 (net of unamortized original issue discount and deferred financing costs of $7) 643 643 4.375% Senior Notes due 2030 (net of unamortized original issue discount and deferred financing costs of $9) 691 691 3.250% Senior Notes due 2031 (net of unamortized original issue discount and deferred financing costs of $6) 594 594 2018 SCL Credit Facility — Revolving 950 753 Other (2) 24 27 Singapore Related (1) : 2012 Singapore Credit Facility — Term (net of unamortized deferred financing costs of $41 and $43, respectively) 2,889 2,902 2012 Singapore Credit Facility — Delayed Draw Term (net of unamortized deferred financing costs of $1) 45 45 Other (2) 3 3 14,977 14,795 Less — current maturities (72) (74) Total long-term debt $ 14,905 $ 14,721 ____________________ (1) Unamortized deferred financing costs of $83 million and $81 million as of March 31, 2022 and December 31, 2021, respectively, related to the Company’s revolving credit facilities and the undrawn portion of the Singapore Delayed Draw Term Facility are included in other assets, net, in the accompanying condensed consolidated balance sheets. (2) Includes finance leases related to Macao and Singapore of $21 million and $1 million as of March 31, 2022, respectively, and $24 million and $1 million as of December 31, 2021, respectively. LVSC Revolving Facility As of March 31, 2022, the Company had $1.50 billion of available borrowing capacity under the LVSC Revolving Facility, net of outstanding letters of credit. SCL Senior Notes On February 16, 2022, Standard & Poor’s downgraded the credit rating for the Company and SCL to BB+. As a result of the downgrade, the coupon on each series of the outstanding SCL Senior Notes will increase by 0.25% per annum, with such increase becoming effective on the first interest payment date after February 16, 2022. This will result in an increase of $9 million in interest expense for the year ended December 31, 2022 and $18 million for each year thereafter through 2024, at which time this will decrease as the SCL Senior Notes are repaid based on each of their set maturity dates. 2018 SCL Credit Facility During the three months ended March 31, 2022, SCL drew down $19 million and 1.42 billion Hong Kong dollars (“HKD,” approximately $182 million at exchange rates in effect on March 31, 2022) under the facility for general corporate purposes. As of March 31, 2022, SCL had $1.54 billion of available borrowing capacity under the 2018 SCL Revolving Facility comprised of HKD commitments of HKD 10.90 billion (approximately $1.39 billion at exchange rates in effect on March 31, 2022) and U.S. dollar commitments of $147 million. 2012 Singapore Credit Facility As of March 31, 2022, Marina Bay Sands Pte. Ltd. (“MBS”) had SGD 593 million (approximately $438 million at exchange rates in effect on March 31, 2022) of available borrowing capacity under the 2012 Singapore Revolving Facility, net of outstanding letters of credit, primarily consisting of a banker’s guarantee for SGD 153 million (approximately $113 million at exchange rates in effect on March 31, 2022) pursuant to a development agreement. On February 9, 2022, MBS entered into the Fourth Amendment and Restatement Agreement (the “Fourth Amendment Agreement”) with DBS Bank Ltd., as agent and security trustee. The Fourth Amendment Agreement amended and restated the facility agreement, dated as of June 25, 2012 (as amended, the “Existing Facility Agreement”). Pursuant to the Fourth Amendment Agreement, the Existing Facility Agreement was amended to update the terms therein that provide for a transition away from the Swap Offer Rate (“SOR”) as a benchmark interest rate and the replacement of SOR by a replacement benchmark interest rate or mechanism. Under the Fourth Amendment Agreement, outstanding loans bear interest at the Singapore Overnight Rate Average (“SORA”) with a credit spread adjustment of 0.19% per annum, plus an applicable margin ranging from 1.15% to 1.85% per annum, based on MBS’s consolidated leverage ratio (estimated interest rate set at approximately 2.3% as of March 31, 2022). During 2021, the Company amended its 2012 Singapore Credit Facility, which, among other things, extended to March 31, 2022, the deadline for delivering the construction cost estimate and the construction schedule for the MBS Expansion Project. The Company is in the process of reviewing the budget and timing of the MBS expansion based on the impact of the COVID-19 Pandemic and other factors. As a result, the construction cost estimate and construction schedule were not delivered to the lenders by the March 31, 2022 deadline. As of March 31, 2022, there is SGD 3.69 billion (approximately $2.73 billion at exchange rates in effect on March 31, 2022) left of total borrowing capacity, which is only available to be drawn under the Singapore Delayed Draw Term Facility after the construction cost estimate and construction schedule for the MBS Expansion Project are delivered to lenders. The Company does not anticipate material spend related to the MBS Expansion Project prior to the delivery of these items to the lenders. Debt Covenant Compliance As of March 31, 2022, management believes the Company was in compliance with all debt covenants. The Company amended its credit facilities to, among other things, waive the Company’s requirement to comply with certain financial covenant ratios through December 31, 2022 for LVSC and MBS and January 1, 2023 for SCL, which include a maximum leverage ratio or net debt to trailing twelve-months adjusted earnings before interest, income taxes, depreciation and amortization, calculated in accordance with the respective credit agreement, of 4.0x, 4.0x and 4.5x under the LVSC Revolving Facility, 2018 SCL Credit Facility and 2012 Singapore Credit Facility, respectively. The Company’s compliance with its financial covenants for periods beyond December 31, 2022 for MBS and LVSC and January 1, 2023 for SCL, could be affected by certain factors beyond the Company’s control, such as the impact of the COVID-19 Pandemic, including current travel and border restrictions continuing in the future. The Company will pursue additional waivers to meet the required financial covenant ratios for periods beyond the current covenant waiver periods, if deemed necessary. Cash Flows from Financing Activities Cash flows from financing activities related to long-term debt and finance lease obligations are as follows: Three Months Ended 2022 2021 (In millions) Proceeds from 2018 SCL Credit Facility $ 201 $ 505 $ 201 $ 505 Repayments on 2012 Singapore Credit Facility $ (16) $ (16) Repayments on Other Long-Term Debt (1) (2) $ (17) $ (18) Fair Value of Long-Term Debt The estimated fair value of the Company’s long-term debt as of March 31, 2022 and December 31, 2021, was approximately $14.35 billion and $15.06 billion, respectively, compared to its contractual value of $15.08 billion and $14.90 billion, respectively. The estimated fair value of the Company’s long-term debt is based on recent trades, if available, and indicative pricing from market information (level 2 inputs).

Accounts Receivable, Net and Cu

Accounts Receivable, Net and Customer Contract Related Liabilities	3 Months Ended
	Mar. 31, 2022
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Accounts Receivable, Net	Accounts Receivable, Net and Customer Contract Related Liabilities Accounts Receivable and Provision for Credit Losses Accounts receivable is comprised of casino, hotel, mall and other receivables, which do not bear interest and are recorded at amortized cost. The Company extends credit to approved casino patrons following background checks and investigations of creditworthiness. Business or economic conditions, the legal enforceability of gaming debts, foreign currency control measures or other significant events in foreign countries could affect the collectability of receivables from patrons in these countries. Accounts receivable primarily consists of casino receivables. Other than casino receivables, there is no other concentration of credit risk with respect to accounts receivable. The Company believes the concentration of its credit risk in casino receivables is mitigated substantially by its credit evaluation process, credit policies, credit control and collection procedures, and also believes there are no concentrations of credit risk for which a provision has not been established. Although management believes the provision is adequate, it is possible the estimated amount of cash collections with respect to accounts receivable could change. The Company maintains a provision for expected credit losses on casino, hotel and mall receivables and regularly evaluates the balances. The Company applies standard reserve percentages to aged account balances, which are grouped based on shared credit risk characteristics and days past due. The reserve percentages are based on estimated loss rates supported by historical observed default rates over the expected life of the receivable and are adjusted for forward-looking information. The Company also specifically analyzes the collectability of each account with a balance over a specified dollar amount, based upon the age of the account, the patron's financial condition, collection history and any other known information and adjusts the aforementioned reserve with the results from the individual reserve analysis. The Company also monitors regional and global economic conditions and forecasts, which include the impact of the COVID-19 Pandemic, in its evaluation of the adequacy of the recorded reserves. Account balances are written off against the provision when the Company believes it is probable the receivable will not be recovered. Accounts receivable, net, consists of the following: March 31, December 31, (In millions) Casino $ 313 $ 313 Rooms 9 13 Mall 30 91 Other 29 17 381 434 Less - provision for credit losses (234) (232) $ 147 $ 202 The following table shows the movement in the provision for credit losses recognized for accounts receivable: 2022 2021 (In millions) Balance at January 1 $ 232 $ 255 Current period provision for credit losses 4 4 Write-offs (2) (15) Exchange rate impact — (2) Balance at March 31 $ 234 $ 242
Customer Contract Related Liabilities	Customer Contract Related Liabilities The Company provides numerous products and services to its patrons. There is often a timing difference between the cash payment by the patrons and recognition of revenue for each of the associated performance obligations. The Company has the following main types of liabilities associated with contracts with customers: (1) outstanding chip liability, (2) loyalty program liability and (3) customer deposits and other deferred revenue for gaming and non-gaming products and services yet to be provided. The following table summarizes the liability activity related to contracts with customers: Outstanding Chip Liability Loyalty Program Liability Customer Deposits and Other Deferred Revenue (1) 2022 2021 2022 2021 2022 2021 (In millions) Balance at January 1 $ 74 $ 197 $ 61 $ 62 $ 618 $ 633 Balance at March 31 57 153 63 62 587 610 Increase (decrease) $ (17) $ (44) $ 2 $ — $ (31) $ (23) ____________________ (1) Of this amount, $145 million as of March 31 and January 1, 2022 and $152 million as of March 31 and January 1, 2021, relate to mall deposits that are accounted for based on lease terms usually greater than one year.

Other Accrued Liabilities

Other Accrued Liabilities	3 Months Ended
	Mar. 31, 2022
Payables and Accruals [Abstract]
Other Accrued Liabilities	Other Accrued Liabilities Other accrued liabilities consist of the following: March 31, December 31, (In millions) Customer deposits $ 454 $ 470 Payroll and related 164 253 Taxes and licenses 103 143 Accrued interest payable 73 157 Outstanding chip liability 57 74 Other accruals 240 237 $ 1,091 $ 1,334

Earnings (Loss) Per Share

Earnings (Loss) Per Share	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Earnings (Loss) Per Share	Earnings (Loss) Per Share The weighted average number of common and common equivalent shares used in the calculation of basic and diluted earnings (loss) per share consisted of the following: Three Months Ended 2022 2021 (In millions) Weighted-average common shares outstanding (used in the calculation of basic earnings (loss) per share) 764 764 Potential dilution from stock options and restricted stock and stock units — — Weighted-average common and common equivalent shares (used in the calculation of diluted earnings (loss) per share) 764 764 Antidilutive stock options excluded from the calculation of diluted earnings per share 15 3

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2022
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective income tax rate from continuing operations was 0.4% for the three months ended March 31, 2022, compared to 5.3% for the three months ended March 31, 2021. The effective income tax rate for the three months ended March 31, 2022, reflects a 17% statutory tax rate on the Company’s Singapore operations and a 21% corporate income tax rate on its domestic operations. The Company's operations in Macao are subject to a 12% statutory income tax rate, but in connection with the 35% gaming tax, the Company’s subsidiaries in Macao and its peers receive an income tax exemption on gaming operations through June 26, 2022. During the three months ended March 31, 2021, the Company recorded a valuation allowance of $20 million related to certain U.S. foreign tax credits, which it no longer expects to utilize due to lower forecasted U.S. taxable income in years following the sale of the Las Vegas Operations.

Leases

Leases	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Leases	Leases Lessor Lease revenue for the Company’s mall operations consists of the following: Three months ended March 31, 2022 2021 (In millions) Minimum rents $ 124 $ 131 Overage rents 14 17 Rent concessions (1) (12) (20) Other (2) — 6 Total overage rents, rent concessions and other 2 3 $ 126 $ 134 ___________________ (1) Rent concessions were provided for the periods presented to tenants as a result of the COVID-19 Pandemic and the impact on mall operations. (2) Amount related to a grant provided by the Singapore government to lessors to support small and medium enterprises impacted by the COVID-19 Pandemic in connection with their rent obligations.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation The Company is involved in other litigation in addition to those noted below, arising in the normal course of business. Management has made certain estimates for potential litigation costs based upon consultation with legal counsel. Actual results could differ from these estimates; however, in the opinion of management, such litigation and claims will not have a material effect on the Company’s financial condition, results of operations and cash flows. Asian American Entertainment Corporation, Limited v. Venetian Macau Limited, et al. On February 5, 2007, Asian American Entertainment Corporation, Limited (“AAEC” or “Plaintiff”) brought a claim (the “Prior Action”) in the U.S. District Court for the District of Nevada (the “U.S. District Court”) against Las Vegas Sands, Inc. (now known as Las Vegas Sands, LLC (“LVSLLC”)), Venetian Casino Resort, LLC (“VCR”) and Venetian Venture Development, LLC, which are subsidiaries of the Company, and William P. Weidner and David Friedman, who are former executives of the Company. The Prior Action sought damages based on an alleged breach of agreements entered into between AAEC and the aforementioned defendants for their joint presentation of a bid in response to the public tender held by the Macao government for the award of gaming concessions at the end of 2001. The U.S. District Court entered an order dismissing the Prior Action on April 16, 2010. On January 19, 2012, AAEC filed another claim (the “Macao Action”) with the Macao Judicial Court against VML, LVS (Nevada) International Holdings, Inc. (“LVS (Nevada)”), LVSLLC and VCR (collectively, the “Defendants”). The claim was for 3.0 billion patacas (approximately $372 million at exchange rates in effect on March 31, 2022). The Macao Action alleges a breach of agreements entered into between AAEC and LVS (Nevada), LVSLLC and VCR (collectively, the “U.S. Defendants”) for their joint presentation of a bid in response to the public tender held by the Macao government for the award of gaming concessions at the end of 2001. On July 4, 2012, the Defendants filed their defense to the Macao Action with the Macao Judicial Court and amended the defense on January 4, 2013. On March 24, 2014, the Macao Judicial Court issued a decision holding that AAEC’s claim against VML is unfounded and that VML be removed as a party to the proceedings, and the claim should proceed exclusively against the U.S. Defendants. On May 8, 2014, AAEC lodged an appeal against that decision and the appeal is currently pending. On June 5, 2015, the U.S. Defendants applied to the Macao Judicial Court to dismiss the claims against them as res judicata based on the dismissal of the Prior Action. On March 16, 2016, the Macao Judicial Court dismissed the defense of res judicata. An appeal against that decision was lodged by U.S. Defendants on April 7, 2016. As of the end of December 2016, all appeals (including VML’s dismissal and the res judicata appeals) were being transferred to the Macao Second Instance Court. On May 11, 2017, the Macao Second Instance Court notified the parties of its decision of refusal to deal with the appeals at the present time. The Macao Second Instance Court ordered the court file be transferred back to the Macao Judicial Court. Evidence gathering by the Macao Judicial Court commenced by letters rogatory, which was completed on March 14, 2019, and the trial of this matter was scheduled for September 2019. On July 15, 2019, AAEC submitted a request to the Macao Judicial Court to increase the amount of its claim to 96.45 billion patacas (approximately $11.96 billion at exchange rates in effect on March 31, 2022), allegedly representing lost profits from 2004 to 2018, and reserving its right to claim for lost profits up to 2022 in due course at the enforcement stage. On September 4, 2019, the Macao Judicial Court allowed AAEC’s request to increase the amount of its claim. On September 17, 2019, the U.S. Defendants appealed the decision granting AAEC’s request and that appeal is currently pending. On September 2, 2019, the U.S. Defendants moved to revoke the legal aid granted to AAEC, which excuses AAEC from paying its share of court costs. On September 4, 2019, the Macao Judicial Court deferred ruling on the U.S. Defendants’ motion regarding legal aid until the entry of final judgment. The U.S. Defendants appealed that deferral on September 17, 2019. On September 26, 2019, the Macao Judicial Court rejected that appeal on procedural grounds. The U.S. Defendants requested clarification of that order on October 29, 2019. By order dated December 4, 2019, the Macao Judicial Court stated it would reconsider the U.S. Defendants’ motion to revoke legal aid and, as part of that reconsideration, it would reanalyze portions of the record, seek an opinion from the Macao Public Prosecutor regarding the propriety of legal aid and consult with the trial court overseeing AAEC’s separate litigation against Galaxy Entertainment Group Ltd., Galaxy Entertainment Group S.A. and two of the U.S. Defendants’ former executives, individually. The Macao Judicial Court denied the motion to revoke legal aid on January 14, 2020. On June 18, 2020, the U.S. Defendants moved to reschedule the trial, which had been scheduled to begin on September 16, 2020, due to travel disruptions and other extraordinary circumstances resulting from the ongoing COVID-19 Pandemic. The Macao Judicial Court granted that motion and rescheduled the trial to begin on June 16, 2021. On April 16, 2021, the U.S. Defendants again moved to reschedule the trial because continued travel disruptions resulting from the pandemic prevented the representatives of the U.S. Defendants and certain witnesses from attending the trial as scheduled. Plaintiff opposed that motion on April 29, 2021. The Macao Judicial Court denied the U.S. Defendants’ motion on May 28, 2021, concluding that, under Macao law, it lacked the power to reschedule the trial absent agreement of the parties. The U.S. Defendants appealed that ruling on June 16, 2021, and that appeal is currently pending. The trial began as scheduled on June 16, 2021. The Macao Judicial Court heard testimony on June 16, 17, 23, and July 1. By order dated June 17, 2021, the Macao Judicial Court scheduled additional trial dates during September, October and December 2021 to hear witnesses who are currently subject to COVID-19 travel restrictions that prevent or severely limit their ability to enter Macao. That order also provided a procedure for the parties to request written testimony from witnesses who are not able to travel to Macao on those dates. On June 28, 2021, the U.S. Defendants sought clarification of certain aspects of that ruling concerning procedures for written testimony and appealed aspects of that ruling setting limits on written testimony, imposing a deadline for in-person testimony, and rejecting the U.S. Defendants’ request to have witnesses testify via video conference. On July 9, 2021, the Macao Judicial Court issued an order clarifying the procedure for written testimony. The U.S. Defendants’ appeal on the remainder of the Macao Judicial Court’s June 17, 2021 order is currently pending. On July 10, 2021, the U.S. Defendants were notified of an invoice for supplemental court fees totaling 93 million patacas (approximately $12 million at exchange rates in effect on March 31, 2022) based on Plaintiff’s July 15, 2019 amendment of its claim amount. By motion dated July 20, 2021, the U.S. Defendants moved the Macao Judicial Court for an order withdrawing that invoice on the grounds that it was procedurally improper and conflicted with rights guaranteed in Macao’s Basic Law. The Macao Judicial Court denied that motion by order dated September 11, 2021. The U.S. Defendants appealed that order on September 23, 2021, and that appeal is currently pending. By order dated September 29, 2021, the Macao Judicial Court ordered that the invoice for supplemental court fees be stayed pending resolution of that appeal. On September 6, 2021, Plaintiff notified the Macao Judicial Court that it would not be bringing any additional witnesses to testify in-person on the scheduled hearing dates. In submissions dated September 6 and September 20, 2021, the U.S. Defendants notified the Macao Judicial Court that certain witnesses were unable to attend the September hearing dates due to ongoing travel restrictions related to the COVID-19 Pandemic. By orders dated September 11 and September 23, 2021, the Macao Judicial Court cancelled the various hearing dates scheduled in September. The Macao Judicial Court heard additional testimony on October 8, 11, and 15, and December 14 and 15, 2021. Certain witnesses who were not able to enter Macao due to ongoing COVID-19 travel restrictions presented testimony in writing. On December 15, 2021, the U.S. Defendants sought to initiate a proceeding to impeach the testimony of certain witnesses offered by Plaintiff, and the Macao Judicial Court admitted that incident and ordered Plaintiff to produce its shareholder registry. By notice dated December 16, 2021, Plaintiff appealed the order to produce its shareholder registry, and that appeal is currently pending. From December 17, 2021 to January 19, 2022, Plaintiff submitted additional documents to the court file and disclosed written reports from two purported experts, who calculated Plaintiff’s damages at 57.88 billion patacas and 62.29 billion patacas (approximately $7.18 billion and $7.73 billion, respectively, at exchange rates in effect on March 31, 2022). In response, the U.S. Defendants moved to exclude those materials or, in the alternative, to require additional testimony from relevant witnesses. By order dated January 19, 2022, the Macao Judicial Court denied the U.S. Defendants’ motion and ruled that the materials could be included in the court file with the probative value of their contents to be determined by the Court. Plaintiff presented its factual summation on January 21, 2022. On January 26, 2022, the U.S. Defendants presented their factual summation, and Plaintiff and the U.S. Defendants presented rebuttal summations. The Macao Judicial Court announced its proposed findings on disputed facts at a February 15, 2022 hearing. The Plaintiff filed its brief on points of law with the Macao Judicial Court on March 1, 2022, and the U.S. Defendants filed their brief on points of law on March 10, 2022. On April 28, 2022, the Macao Judicial Court entered a judgment for the U.S. Defendants. The Macao Judicial Court also held that Plaintiff litigated certain aspects of its case in bad faith. The Daniels Family 2001 Revocable Trust v. LVSC, et al. On October 22, 2020, The Daniels Family 2001 Revocable Trust, a putative purchaser of the Company’s shares, filed a purported class action complaint in the U.S. District Court against LVSC, Sheldon G. Adelson and Patrick Dumont. The complaint asserts violations of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) and alleges that LVSC made materially false or misleading statements, or failed to disclose material facts, from February 27, 2016 through September 15, 2020, with respect to its operations at the Marina Bay Sands, its compliance with Singapore laws and regulations, and its disclosure controls and procedures. On January 5, 2021, the U.S. District Court entered an order appointing Carl S. Ciaccio and Donald M. DeSalvo as lead plaintiffs (“Lead Plaintiffs”). On March 8, 2021, Lead Plaintiffs filed a purported class action amended complaint against LVSC, Sheldon G. Adelson, Patrick Dumont, and Robert G. Goldstein, alleging similar violations of Sections 10(b) and 20(a) of the Exchange Act over the same time period of February 27, 2016 through September 15, 2020. On March 22, 2021, the U.S. District Court granted Lead Plaintiffs’ motion to substitute Dr. Miriam Adelson, in her capacity as the Special Administrator for the estate of Sheldon G. Adelson, for Sheldon G. Adelson as a defendant in this action. On May 7, 2021, the defendants filed a motion to dismiss the amended complaint. Lead Plaintiffs filed an opposition to the motion to dismiss on July 6, 2021, and the defendants filed their reply on August 5, 2021. On March 28, 2022, the U.S. District Court entered an order dismissing the amended complaint in its entirety. The U.S. District Court dismissed certain claims with prejudice but granted Lead Plaintiffs leave to amend the complaint with respect to the other claims by April 18, 2022. On April 8, 2022, Lead Plaintiffs filed a Motion for Reconsideration and to Extend Time to File the Amended Complaint, requesting the U.S. District Court reconsider certain aspects of its March 28, 2022 order, and to extend the deadline for Lead Plaintiffs to file an amended complaint. The defendants filed an opposition to the motion on April 22, 2022. On April 18, 2022, Lead Plaintiffs filed a second amended complaint. This action is in a preliminary stage and management has determined that based on proceedings to date, it is currently unable to determine the probability of the outcome of this matter or the range of reasonably possible loss, if any. The Company intends to defend this matter vigorously. Turesky v. Sheldon G. Adelson, et al.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Segment Information	Segment InformationThe Company’s principal operating and developmental activities occur in two geographic areas: Macao and Singapore. The Company reviews the results of operations and construction and development activities for each of its operating segments: The Venetian Macao; The Londoner Macao; The Parisian Macao; The Plaza Macao and Four Seasons Macao; Sands Macao; and Marina Bay Sands. The Company has included Ferry Operations and Other (comprised primarily of the Company’s ferry operations and various other operations that are ancillary to its properties in Macao) and Corporate and Other to reconcile to the condensed consolidated results of operations and financial condition. The operations that comprised the Company’s former Las Vegas Operating Properties reportable business segment were classified as a discontinued operation and the information below for the three months ended March 31, 2022 and 2021, excludes these results. The Company’s segment information as of March 31, 2022 and December 31, 2021, and for the three months ended March 31, 2022 and 2021 is as follows: Casino Rooms Food and Beverage Mall Convention, Retail and Other Net Revenues (In millions) Three Months Ended March 31, 2022 Macao: The Venetian Macao $ 157 $ 16 $ 6 $ 44 $ 4 $ 227 The Londoner Macao 79 19 8 14 1 121 The Parisian Macao 51 11 3 8 1 74 The Plaza Macao and Four Seasons Macao 55 9 4 34 — 102 Sands Macao 17 2 1 — — 20 Ferry Operations and Other — — — — 7 7 359 57 22 100 13 551 Marina Bay Sands 268 38 31 49 13 399 Intercompany royalties — — — — 22 22 Intercompany eliminations (1) — — — — (29) (29) Total net revenues $ 627 $ 95 $ 53 $ 149 $ 19 $ 943 Three Months Ended March 31, 2021 Macao: The Venetian Macao $ 266 $ 19 $ 6 $ 46 $ 3 $ 340 The Londoner Macao 91 19 7 14 6 137 The Parisian Macao 59 12 5 10 1 87 The Plaza Macao and Four Seasons Macao 115 11 4 39 1 170 Sands Macao 31 3 1 — — 35 Ferry Operations and Other — — — — 8 8 562 64 23 109 19 777 Marina Bay Sands 303 32 33 47 11 426 Intercompany royalties — — — — 25 25 Intercompany eliminations (1) — — — — (32) (32) Total net revenues $ 865 $ 96 $ 56 $ 156 $ 23 $ 1,196 ____________________ (1) Intercompany eliminations include royalties and other intercompany services. Three Months Ended 2022 2021 (In millions) Intersegment Revenues Macao: The Venetian Macao $ 2 $ 1 Ferry Operations and Other 5 5 7 6 Marina Bay Sands — 1 Intercompany royalties 22 25 Total intersegment revenues $ 29 $ 32 Three Months Ended 2022 2021 (In millions) Adjusted Property EBITDA Macao: The Venetian Macao $ 19 $ 82 The Londoner Macao (33) (23) The Parisian Macao (11) (8) The Plaza Macao and Four Seasons Macao 32 70 Sands Macao (17) (18) Ferry Operations and Other (1) (3) (11) 100 Marina Bay Sands 121 144 Consolidated adjusted property EBITDA (1) 110 244 Other Operating Costs and Expenses Stock-based compensation (2) (5) (5) Corporate (59) (49) Pre-opening (4) (5) Development (60) (9) Depreciation and amortization (264) (255) Amortization of leasehold interests in land (14) (14) Loss on disposal or impairment of assets (6) (3) Operating loss (302) (96) Other Non-Operating Costs and Expenses Interest income 4 1 Interest expense, net of amounts capitalized (156) (154) Other expense (22) (17) Income tax expense (2) (14) Net loss from continuing operations $ (478) $ (280) ____________________ (1) Consolidated adjusted property EBITDA, which is a non-GAAP financial measure, is net income (loss) from continuing operations before stock-based compensation expense, corporate expense, pre-opening expense, development expense, depreciation and amortization, amortization of leasehold interests in land, gain or loss on disposal or impairment of assets, interest, other income or expense, gain or loss on modification or early retirement of debt and income taxes. Consolidated adjusted property EBITDA is a supplemental non-GAAP financial measure used by management, as well as industry analysts, to evaluate operations and operating performance. In particular, management utilizes consolidated adjusted property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation. Integrated Resort companies have historically reported adjusted property EBITDA as a supplemental performance measure to GAAP financial measures. In order to view the operations of their properties on a more stand-alone basis, Integrated Resort companies, including Las Vegas Sands Corp., have historically excluded certain expenses that do not relate to the management of specific properties, such as pre-opening expense, development expense and corporate expense, from their adjusted property EBITDA calculations. Consolidated adjusted property EBITDA should not be interpreted as an alternative to income from operations (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with GAAP. The Company has significant uses of cash flow, including capital expenditures, dividend payments, interest payments, debt principal repayments and income taxes, which are not reflected in consolidated adjusted property EBITDA. Not all companies calculate adjusted property EBITDA in the same manner. As a result, consolidated adjusted property EBITDA as presented by the Company may not be directly comparable to similarly titled measures presented by other companies. (2) During the three months ended March 31, 2022 and 2021, the Company recorded stock-based compensation expense of $14 million and $7 million, respectively, of which $9 million and $2 million, respectively, was included in corporate expense in the accompanying condensed consolidated statements of operations. Three Months Ended 2022 2021 (In millions) Capital Expenditures Corporate and Other $ 3 $ — Macao: The Venetian Macao 14 22 The Londoner Macao 67 238 The Parisian Macao — 1 The Plaza Macao and Four Seasons Macao 2 5 Sands Macao 1 2 84 268 Marina Bay Sands 50 23 Total capital expenditures $ 137 $ 291 March 31, December 31, (In millions) Total Assets Corporate and Other $ 7,257 $ 1,357 Macao: The Venetian Macao 1,935 2,087 The Londoner Macao 4,410 4,494 The Parisian Macao 1,907 1,962 The Plaza Macao and Four Seasons Macao 1,073 1,145 Sands Macao 225 253 Ferry Operations and Other 142 132 9,692 10,073 Marina Bay Sands 5,298 5,326 Total assets $ 22,247 $ 16,756

Loans Receivable (Policies)

Loans Receivable (Policies)	3 Months Ended
	Mar. 31, 2022
Loans and Leases Receivable Disclosure [Abstract]
Loan Receivable [Policy Text Block]	Loan receivables are carried at the outstanding principal amount. A provision for credit loss on loan receivables is established when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the contractual terms of the loan agreement. The Company determines this by considering several factors, including the credit risk and current financial condition of the borrower, the borrower’s ability to pay current obligations, historical trends, and economic and market conditions. The Company performs a credit quality assessment on the loan receivable on a quarterly basis and reviews the need for an allowance under Accounting Standards Update No. 2016-13. The Company evaluates the extent and impact of any credit deterioration that could affect the performance and the value of the secured property, as well as the financial and operating capability of the borrower. The Company also evaluates and considers the overall economic environment, casino and hospitality industry and geographic sub-market in which the secured property is located. Based on the Company’s assessment of the credit quality of the loan receivable, the Company believes it will collect all contractual amounts due under the loan. Accordingly, no provision for credit losses on the loan receivable was established as of March 31, 2022. Interest income is recorded on an accrual basis at the stated interest rate and is recorded in interest income in the accompanying condensed consolidated statements of operations.

Accounts Receivable, Net and _2

Accounts Receivable, Net and Customer Contract Related Liabilities (Policies)	3 Months Ended
	Mar. 31, 2022
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Accounts receivable and provision for credit losses	Accounts receivable is comprised of casino, hotel, mall and other receivables, which do not bear interest and are recorded at amortized cost. The Company extends credit to approved casino patrons following background checks and investigations of creditworthiness. Business or economic conditions, the legal enforceability of gaming debts, foreign currency control measures or other significant events in foreign countries could affect the collectability of receivables from patrons in these countries. Accounts receivable primarily consists of casino receivables. Other than casino receivables, there is no other concentration of credit risk with respect to accounts receivable. The Company believes the concentration of its credit risk in casino receivables is mitigated substantially by its credit evaluation process, credit policies, credit control and collection procedures, and also believes there are no concentrations of credit risk for which a provision has not been established. Although management believes the provision is adequate, it is possible the estimated amount of cash collections with respect to accounts receivable could change. The Company maintains a provision for expected credit losses on casino, hotel and mall receivables and regularly evaluates the balances. The Company applies standard reserve percentages to aged account balances, which are grouped based on shared credit risk characteristics and days past due. The reserve percentages are based

Discontinued Operations (Tables

Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2022
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The following table represents summarized balance sheet information of assets and liabilities of the discontinued operation: December 31, (In millions) Cash and cash equivalents $ 55 Accounts receivable, net of provision for credit losses of $58 126 Inventories 9 Prepaid expenses and other 23 Property and equipment, net 2,864 Other assets, net 226 Total held for sale assets in the balance sheet $ 3,303 Accounts payable $ 24 Construction payables 8 Other accrued liabilities 318 Long-term debt 2 Deferred amounts related to mall sale transactions 338 Other long-term liabilities 131 Total held for sale liabilities in the balance sheet $ 821 The following table represents summarized income statement information of discontinued operations: Period Ended February 22, 2022 (1) Three Months Ended (In millions) Revenues: Casino $ 61 $ 53 Rooms 78 45 Food and beverage 43 24 Convention, retail and other 46 17 Net revenues 228 139 Resort operations expenses 107 111 Provision for credit losses 3 — General and administrative 55 75 Depreciation and amortization — 25 Loss on disposal or impairment of assets — 2 Operating income (loss) 63 (74) Interest expense (2) (3) Other expense (3) (1) Income (loss) from operations of discontinued operations 58 (78) Gain on disposal of discontinued operations 3,611 — Income (loss) from discontinued operations, before income tax 3,669 (78) Income tax (expense) benefit (762) 16 Net income (loss) from discontinued operations presented in the statement of operations $ 2,907 $ (62) Adjusted Property EBITDA $ 63 $ (47) __________________________

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Long-Term Debt	Long-term debt consists of the following: March 31, December 31, (In millions) Corporate and U.S. Related (1) : 3.200% Senior Notes due 2024 (net of unamortized original issue discount and deferred financing costs of $8) $ 1,742 $ 1,742 2.900% Senior Notes due 2025 (net of unamortized original issue discount and deferred financing costs of $3) 497 497 3.500% Senior Notes due 2026 (net of unamortized original issue discount and deferred financing costs of $8) 992 992 3.900% Senior Notes due 2029 (net of unamortized original issue discount and deferred financing costs of $7) 743 743 Macao Related (1) : 5.125% Senior Notes due 2025 (net of unamortized original issue discount and deferred financing costs of $8 and $9, respectively) 1,792 1,791 3.800% Senior Notes due 2026 (net of unamortized original issue discount and deferred financing costs of $6) 794 794 2.300% Senior Notes due 2027 (net of unamortized original issue discount and deferred financing costs of $7) 693 693 5.400% Senior Notes due 2028 (net of unamortized original issue discount and deferred financing costs of $15) 1,885 1,885 2.850% Senior Notes due 2029 (net of unamortized original issue discount and deferred financing costs of $7) 643 643 4.375% Senior Notes due 2030 (net of unamortized original issue discount and deferred financing costs of $9) 691 691 3.250% Senior Notes due 2031 (net of unamortized original issue discount and deferred financing costs of $6) 594 594 2018 SCL Credit Facility — Revolving 950 753 Other (2) 24 27 Singapore Related (1) : 2012 Singapore Credit Facility — Term (net of unamortized deferred financing costs of $41 and $43, respectively) 2,889 2,902 2012 Singapore Credit Facility — Delayed Draw Term (net of unamortized deferred financing costs of $1) 45 45 Other (2) 3 3 14,977 14,795 Less — current maturities (72) (74) Total long-term debt $ 14,905 $ 14,721 ____________________ (1) Unamortized deferred financing costs of $83 million and $81 million as of March 31, 2022 and December 31, 2021, respectively, related to the Company’s revolving credit facilities and the undrawn portion of the Singapore Delayed Draw Term Facility are included in other assets, net, in the accompanying condensed consolidated balance sheets. (2) Includes finance leases related to Macao and Singapore of $21 million and $1 million as of March 31, 2022, respectively, and $24 million and $1 million as of December 31, 2021, respectively.	[1]
Cash Flows From Financing Activities Related to Long Term Debt And Finance Lease Obligations Table	Cash flows from financing activities related to long-term debt and finance lease obligations are as follows: Three Months Ended 2022 2021 (In millions) Proceeds from 2018 SCL Credit Facility $ 201 $ 505 $ 201 $ 505 Repayments on 2012 Singapore Credit Facility $ (16) $ (16) Repayments on Other Long-Term Debt (1) (2) $ (17) $ (18)
[1]	Unamortized deferred financing costs of $83 million and $81 million as of March 31, 2022 and December 31, 2021, respectively, related to the Company’s revolving credit facilities and the undrawn portion of the Singapore Delayed Draw Term Facility are included in other assets, net, in the accompanying condensed consolidated balance sheets.

Accounts Receivable, Net and _3

Accounts Receivable, Net and Customer Contract Related Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Schedule of accounts, notes, loans and financing receivable	Accounts receivable, net, consists of the following: March 31, December 31, (In millions) Casino $ 313 $ 313 Rooms 9 13 Mall 30 91 Other 29 17 381 434 Less - provision for credit losses (234) (232) $ 147 $ 202
Accounts receivable, provision for credit losses	The following table shows the movement in the provision for credit losses recognized for accounts receivable: 2022 2021 (In millions) Balance at January 1 $ 232 $ 255 Current period provision for credit losses 4 4 Write-offs (2) (15) Exchange rate impact — (2) Balance at March 31 $ 234 $ 242
Customer contract related liabilities	The following table summarizes the liability activity related to contracts with customers: Outstanding Chip Liability Loyalty Program Liability Customer Deposits and Other Deferred Revenue (1) 2022 2021 2022 2021 2022 2021 (In millions) Balance at January 1 $ 74 $ 197 $ 61 $ 62 $ 618 $ 633 Balance at March 31 57 153 63 62 587 610 Increase (decrease) $ (17) $ (44) $ 2 $ — $ (31) $ (23) ____________________ (1) Of this amount, $145 million as of March 31 and January 1, 2022 and $152 million as of March 31 and January 1, 2021, relate to mall deposits that are accounted for based on lease terms usually greater than one year.	[1]
[1]	Of this amount, $145 million as of March 31 and January 1, 2022 and $152 million as of March 31 and January 1, 2021, relate to mall deposits that are accounted for based on lease terms usually greater than one year.

Other Accrued Liabilities (Tabl

Other Accrued Liabilities (Tables)	3 Months Ended
	Mar. 31, 2022
Accounts Payable and Accrued Liabilities, Current [Abstract]
Other Accrued Liabilities	Other accrued liabilities consist of the following: March 31, December 31, (In millions) Customer deposits $ 454 $ 470 Payroll and related 164 253 Taxes and licenses 103 143 Accrued interest payable 73 157 Outstanding chip liability 57 74 Other accruals 240 237 $ 1,091 $ 1,334

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	3 Months Ended
	Mar. 31, 2022
Earnings Per Share [Abstract]
Weighted Average Number of Common and Common Equivalent Shares Used in Calculation of Basic and Diluted Earnings Per Share	The weighted average number of common and common equivalent shares used in the calculation of basic and diluted earnings (loss) per share consisted of the following: Three Months Ended 2022 2021 (In millions) Weighted-average common shares outstanding (used in the calculation of basic earnings (loss) per share) 764 764 Potential dilution from stock options and restricted stock and stock units — — Weighted-average common and common equivalent shares (used in the calculation of diluted earnings (loss) per share) 764 764 Antidilutive stock options excluded from the calculation of diluted earnings per share 15 3

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2022
Leases [Abstract]
Lessor, Lease Revenue Components	Lease revenue for the Company’s mall operations consists of the following: Three months ended March 31, 2022 2021 (In millions) Minimum rents $ 124 $ 131 Overage rents 14 17 Rent concessions (1) (12) (20) Other (2) — 6 Total overage rents, rent concessions and other 2 3 $ 126 $ 134 ___________________ (1) Rent concessions were provided for the periods presented to tenants as a result of the COVID-19 Pandemic and the impact on mall operations. (2) Amount related to a grant provided by the Singapore government to lessors to support small and medium enterprises impacted by the COVID-19 Pandemic in connection with their rent obligations.

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2022
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The Company’s segment information as of March 31, 2022 and December 31, 2021, and for the three months ended March 31, 2022 and 2021 is as follows: Casino Rooms Food and Beverage Mall Convention, Retail and Other Net Revenues (In millions) Three Months Ended March 31, 2022 Macao: The Venetian Macao $ 157 $ 16 $ 6 $ 44 $ 4 $ 227 The Londoner Macao 79 19 8 14 1 121 The Parisian Macao 51 11 3 8 1 74 The Plaza Macao and Four Seasons Macao 55 9 4 34 — 102 Sands Macao 17 2 1 — — 20 Ferry Operations and Other — — — — 7 7 359 57 22 100 13 551 Marina Bay Sands 268 38 31 49 13 399 Intercompany royalties — — — — 22 22 Intercompany eliminations (1) — — — — (29) (29) Total net revenues $ 627 $ 95 $ 53 $ 149 $ 19 $ 943 Three Months Ended March 31, 2021 Macao: The Venetian Macao $ 266 $ 19 $ 6 $ 46 $ 3 $ 340 The Londoner Macao 91 19 7 14 6 137 The Parisian Macao 59 12 5 10 1 87 The Plaza Macao and Four Seasons Macao 115 11 4 39 1 170 Sands Macao 31 3 1 — — 35 Ferry Operations and Other — — — — 8 8 562 64 23 109 19 777 Marina Bay Sands 303 32 33 47 11 426 Intercompany royalties — — — — 25 25 Intercompany eliminations (1) — — — — (32) (32) Total net revenues $ 865 $ 96 $ 56 $ 156 $ 23 $ 1,196 ____________________ (1) Intercompany eliminations include royalties and other intercompany services. Three Months Ended 2022 2021 (In millions) Intersegment Revenues Macao: The Venetian Macao $ 2 $ 1 Ferry Operations and Other 5 5 7 6 Marina Bay Sands — 1 Intercompany royalties 22 25 Total intersegment revenues $ 29 $ 32 Three Months Ended 2022 2021 (In millions) Adjusted Property EBITDA Macao: The Venetian Macao $ 19 $ 82 The Londoner Macao (33) (23) The Parisian Macao (11) (8) The Plaza Macao and Four Seasons Macao 32 70 Sands Macao (17) (18) Ferry Operations and Other (1) (3) (11) 100 Marina Bay Sands 121 144 Consolidated adjusted property EBITDA (1) 110 244 Other Operating Costs and Expenses Stock-based compensation (2) (5) (5) Corporate (59) (49) Pre-opening (4) (5) Development (60) (9) Depreciation and amortization (264) (255) Amortization of leasehold interests in land (14) (14) Loss on disposal or impairment of assets (6) (3) Operating loss (302) (96) Other Non-Operating Costs and Expenses Interest income 4 1 Interest expense, net of amounts capitalized (156) (154) Other expense (22) (17) Income tax expense (2) (14) Net loss from continuing operations $ (478) $ (280) ____________________ (1) Consolidated adjusted property EBITDA, which is a non-GAAP financial measure, is net income (loss) from continuing operations before stock-based compensation expense, corporate expense, pre-opening expense, development expense, depreciation and amortization, amortization of leasehold interests in land, gain or loss on disposal or impairment of assets, interest, other income or expense, gain or loss on modification or early retirement of debt and income taxes. Consolidated adjusted property EBITDA is a supplemental non-GAAP financial measure used by management, as well as industry analysts, to evaluate operations and operating performance. In particular, management utilizes consolidated adjusted property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation. Integrated Resort companies have historically reported adjusted property EBITDA as a supplemental performance measure to GAAP financial measures. In order to view the operations of their properties on a more stand-alone basis, Integrated Resort companies, including Las Vegas Sands Corp., have historically excluded certain expenses that do not relate to the management of specific properties, such as pre-opening expense, development expense and corporate expense, from their adjusted property EBITDA calculations. Consolidated adjusted property EBITDA should not be interpreted as an alternative to income from operations (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with GAAP. The Company has significant uses of cash flow, including capital expenditures, dividend payments, interest payments, debt principal repayments and income taxes, which are not reflected in consolidated adjusted property EBITDA. Not all companies calculate adjusted property EBITDA in the same manner. As a result, consolidated adjusted property EBITDA as presented by the Company may not be directly comparable to similarly titled measures presented by other companies. (2) During the three months ended March 31, 2022 and 2021, the Company recorded stock-based compensation expense of $14 million and $7 million, respectively, of which $9 million and $2 million, respectively, was included in corporate expense in the accompanying condensed consolidated statements of operations. Three Months Ended 2022 2021 (In millions) Capital Expenditures Corporate and Other $ 3 $ — Macao: The Venetian Macao 14 22 The Londoner Macao 67 238 The Parisian Macao — 1 The Plaza Macao and Four Seasons Macao 2 5 Sands Macao 1 2 84 268 Marina Bay Sands 50 23 Total capital expenditures $ 137 $ 291 March 31, December 31, (In millions) Total Assets Corporate and Other $ 7,257 $ 1,357 Macao: The Venetian Macao 1,935 2,087 The Londoner Macao 4,410 4,494 The Parisian Macao 1,907 1,962 The Plaza Macao and Four Seasons Macao 1,073 1,145 Sands Macao 225 253 Ferry Operations and Other 142 132 9,692 10,073 Marina Bay Sands 5,298 5,326 Total assets $ 22,247 $ 16,756

Organization and Business of _2

Organization and Business of Company - Additional Information (Details) $ in Millions, $ in Millions	1 Months Ended
	Apr. 30, 2022USD ($)	Apr. 30, 2022SGD ($)	Mar. 31, 2022USD ($)	Mar. 31, 2022SGD ($)	Dec. 31, 2021USD ($)
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Cash and cash equivalents			$ 6,430		$ 1,854
Singapore [Member] | Marina Bay Sands [Member] | Subsequent Event
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Finite-lived intangible assets, cost incurred to renew or extend	$ 53	$ 72
Unsecured Debt [Member] | LVSC Revolving Facility [Member] | United States [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Line of credit facility, available borrowing capacity (HKD/SGD converted to USD at balance sheet date)			1,500
Unsecured Debt [Member] | 2018 SCL Revolving Facility [Member] | Macao [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Line of credit facility, available borrowing capacity (HKD/SGD converted to USD at balance sheet date)			1,540
Secured Debt [Member] | Two Thousand And Twelve Singapore Credit Facility Revolving [Member] | Singapore [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Line of credit facility, available borrowing capacity (HKD/SGD converted to USD at balance sheet date)			$ 438	$ 593

Discontinued Operations - Addit

Discontinued Operations - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022		Mar. 31, 2021	Feb. 23, 2022
United States [Member] | Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Statutory federal income tax rate	21.00%
Accrued income taxes	$ 615
Discontinued Operations, Disposed of by Sale | Las Vegas Operating Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Discontinued operation held for sale, consideration				$ 6,250
Disposal group, including discontinued operation, cash consideration				5,050
Disposal group, including discontinued operation, working capital adjustments				80
Gain on disposal of discontinued operations	3,611	[1]	$ 0
Tax effect of gain (loss) from disposal of discontinued operation	$ (750)
Contingent lease support payments, minimum required EBITDAR, period one				426
Contingent lease support payments, minimum required EBITDAR, period two				500
Maximum annual contingent lease support payment, period one				213
Maximum annual contingent lease support payment, period two				250
Effective tax rate	20.80%		(20.50%)
Disposal group, including discontinued operation, accrued income tax payable	$ 803
Discontinued Operations, Disposed of by Sale | Las Vegas Operating Properties [Member] | United States [Member] | Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Statutory federal income tax rate	21.00%
Discontinued Operations, Disposed of by Sale | Las Vegas operating assets and liabilities | Las Vegas Operating Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal group, including discontinued operation, cash consideration				1,050
Disposal group, including discontinued operation, consideration, seller financing				1,200
Discontinued Operations, Disposed of by Sale | Las Vegas real estate and real estate related assets | Las Vegas Operating Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Disposal group, including discontinued operation, cash consideration				$ 4,000
[1]	Includes the Las Vegas Operations financial results for the period from January 1, 2022 through February 22, 2022.

Discontinued Operations (Detail

Discontinued Operations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022		Mar. 31, 2021	Dec. 31, 2021
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net income (loss) from discontinued operations, net of tax	$ 2,907		$ (62)
Discontinued Operations, Disposed of by Sale | Las Vegas Operating Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Cash and cash equivalents				$ 55
Accounts receivable, net of provision for credit losses of $58				126
Inventories				9
Prepaid expenses and other				23
Property and equipment, net				2,864
Other assets, net				226
Total held for sale assets				3,303
Accounts payable				24
Construction payables				8
Other accrued liabilities				318
Long-term debt				2
Deferred amounts related to mall sale transactions				338
Other long-term liabilities				131
Total held for sale liabilities				821
Accounts receivable, provision for credit loss				$ 58
Net revenues	228	[1]	139
Resort operations expenses	107	[1]	111
Provision for credit losses	3	[1]	0
General and administrative	55	[1]	75
Depreciation and amortization	0	[1]	25
Loss on disposal or impairment of assets	0	[1]	2
Operating income (loss)	63	[1]	(74)
Interest expense	(2)	[1]	(3)
Other expense	(3)	[1]	(1)
Income (loss) from operations of discontinued operations	58	[1]	(78)
Gain on disposal of discontinued operations	3,611	[1]	0
Income (loss) from discontinued operations, before income tax	3,669	[1]	(78)
Income tax (expense) benefit	(762)	[1]	16
Net income (loss) from discontinued operations, net of tax	2,907	[1]	(62)
Disposal group, including discontinued operation, adjusted property EBITDA	63	[1]	(47)
Discontinued Operations, Disposed of by Sale | Casino [Member] | Las Vegas Operating Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues	61	[1]	53
Discontinued Operations, Disposed of by Sale | Rooms [Member] | Las Vegas Operating Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues	78	[1]	45
Discontinued Operations, Disposed of by Sale | Food and Beverage [Member] | Las Vegas Operating Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues	43	[1]	24
Discontinued Operations, Disposed of by Sale | Convention, Retail and Other [Member] | Las Vegas Operating Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net revenues	$ 46	[1]	$ 17
[1]	Includes the Las Vegas Operations financial results for the period from January 1, 2022 through February 22, 2022.

Loan Receivable (Details)

Loan Receivable (Details) - USD ($) $ in Millions	Feb. 23, 2022	Mar. 31, 2022	Dec. 31, 2021
Loans and Leases Receivable Disclosure [Line Items]
Term of loan receivable	6 years
Loans receivable, stated interest rate for cash payments, year one and two	1.50%
Loans receivable, stated interest rate for cash payments, year three through six	4.25%
Loans receivable, increase in stated interest rate for payment-in-kind, year one and two	1.00%
Loans receivable, increase in stated interest rate for payment-in-kind, year three	1.50%
Loan receivable		$ 1,200	$ 0
Discontinued Operations, Disposed of by Sale | Las Vegas operating assets and liabilities | Las Vegas Operating Properties [Member]
Loans and Leases Receivable Disclosure [Line Items]
Disposal group, including discontinued operation, consideration, seller financing	$ 1,200
Interest Income | Cash Settled [Member]
Loans and Leases Receivable Disclosure [Line Items]
Interest income on loan receivable		$ 2

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions		Mar. 31, 2022		Dec. 31, 2021
Debt Instrument [Line Items]
Other		$ 14,977		$ 14,795
Long-term debt, including current maturities		14,977		14,795
Less - current maturities		(72)		(74)
Total long-term debt		14,905		14,721
Other Assets, Net [Member]
Debt Instrument [Line Items]
Debt issuance costs, net in other assets	[1]	83		81
Macao [Member]
Debt Instrument [Line Items]
Finance lease, liability	[2]	21		24
Singapore [Member]
Debt Instrument [Line Items]
Finance lease, liability	[2]	1		1
Other [Member] | Macao [Member]
Debt Instrument [Line Items]
Other	[2]	24		27
Long-term debt, including current maturities	[2]	24		27
Other [Member] | Singapore [Member]
Debt Instrument [Line Items]
Other	[2]	3		3
Long-term debt, including current maturities	[2]	3		3
Unsecured Debt [Member] | 3.200% Senior Notes due 2024 [Member] | United States [Member]
Debt Instrument [Line Items]
Long-term debt	[1]	1,742		1,742
Unsecured Debt [Member] | 2.900% Senior Notes due 2025 [Member] | United States [Member]
Debt Instrument [Line Items]
Long-term debt	[1]	497		497
Unsecured Debt [Member] | 3.500% Senior Notes due 2026 [Member] | United States [Member]
Debt Instrument [Line Items]
Long-term debt	[1]	992		992
Unsecured Debt [Member] | 3.900% Senior Notes due 2029 [Member] | United States [Member]
Debt Instrument [Line Items]
Long-term debt	[1]	743		743
Unsecured Debt [Member] | 5.125% Senior Notes due 2025 [Member] | Macao [Member]
Debt Instrument [Line Items]
Long-term debt	[1]	1,792		1,791
Unsecured Debt [Member] | 3.800% Senior Notes due 2026 [Member] | Macao [Member]
Debt Instrument [Line Items]
Long-term debt	[1]	794		794
Unsecured Debt [Member] | 2.300% Senior Notes due 2027 [Member] | Macao [Member]
Debt Instrument [Line Items]
Long-term debt	[1]	693		693
Unsecured Debt [Member] | 5.400% Senior Notes due 2028 [Member] | Macao [Member]
Debt Instrument [Line Items]
Long-term debt	[1]	1,885		1,885
Unsecured Debt [Member] | 2.850% Senior Notes due 2029 [Member] | Macao [Member]
Debt Instrument [Line Items]
Long-term debt	[1]	643		643
Unsecured Debt [Member] | 4.375% Senior Notes due 2030 [Member] | Macao [Member]
Debt Instrument [Line Items]
Long-term debt	[1]	691		691
Unsecured Debt [Member] | 3.250% Senior Notes due 2031 [Member] | Macao [Member]
Debt Instrument [Line Items]
Long-term debt	[1]	594		594
Unsecured Debt [Member] | 2018 SCL Revolving Facility [Member] | Macao [Member]
Debt Instrument [Line Items]
Long-term debt		950	[1]	753
Secured Debt [Member] | 2012 Singapore Credit Facility Term [Member] | Singapore [Member]
Debt Instrument [Line Items]
Long-term debt	[1]	2,889		2,902
Secured Debt [Member] | 2012 Singapore Credit Facility Delayed Draw Term [Member] | Singapore [Member]
Debt Instrument [Line Items]
Long-term debt	[1]	$ 45		$ 45
[1]	Unamortized deferred financing costs of $83 million and $81 million as of March 31, 2022 and December 31, 2021, respectively, related to the Company’s revolving credit facilities and the undrawn portion of the Singapore Delayed Draw Term Facility are included in other assets, net, in the accompanying condensed consolidated balance sheets.
[2]	Includes finance leases related to Macao and Singapore of $21 million and $1 million as of March 31, 2022, respectively, and $24 million and $1 million as of December 31, 2021, respectively.

Long-Term Debt - Schedule of _2

Long-Term Debt - Schedule of Long-term Debt - OID and DFC (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Unsecured Debt [Member] | 3.200% Senior Notes due 2024 [Member] | United States [Member]
Debt Instrument [Line Items]
Debt instrument, unamortized discount and debt issuance costs, net	$ 8	$ 8
Unsecured Debt [Member] | 2.900% Senior Notes due 2025 [Member] | United States [Member]
Debt Instrument [Line Items]
Debt instrument, unamortized discount and debt issuance costs, net	3	3
Unsecured Debt [Member] | 3.500% Senior Notes due 2026 [Member] | United States [Member]
Debt Instrument [Line Items]
Debt instrument, unamortized discount and debt issuance costs, net	8	8
Unsecured Debt [Member] | 3.900% Senior Notes due 2029 [Member] | United States [Member]
Debt Instrument [Line Items]
Debt instrument, unamortized discount and debt issuance costs, net	7	7
Unsecured Debt [Member] | 5.125% Senior Notes due 2025 [Member] | Macao [Member]
Debt Instrument [Line Items]
Debt instrument, unamortized discount and debt issuance costs, net	8	9
Unsecured Debt [Member] | 3.800% Senior Notes due 2026 [Member] | Macao [Member]
Debt Instrument [Line Items]
Debt instrument, unamortized discount and debt issuance costs, net	6	6
Unsecured Debt [Member] | 2.300% Senior Notes due 2027 [Member] | Macao [Member]
Debt Instrument [Line Items]
Debt instrument, unamortized discount and debt issuance costs, net	7	7
Unsecured Debt [Member] | 5.400% Senior Notes due 2028 [Member] | Macao [Member]
Debt Instrument [Line Items]
Debt instrument, unamortized discount and debt issuance costs, net	15	15
Unsecured Debt [Member] | 2.850% Senior Notes due 2029 [Member] | Macao [Member]
Debt Instrument [Line Items]
Debt instrument, unamortized discount and debt issuance costs, net	7	7
Unsecured Debt [Member] | 4.375% Senior Notes due 2030 [Member] | Macao [Member]
Debt Instrument [Line Items]
Debt instrument, unamortized discount and debt issuance costs, net	9	9
Unsecured Debt [Member] | 3.250% Senior Notes due 2031 [Member] | Macao [Member]
Debt Instrument [Line Items]
Debt instrument, unamortized discount and debt issuance costs, net	6	6
Secured Debt [Member] | 2012 Singapore Credit Facility Term [Member] | Singapore [Member]
Debt Instrument [Line Items]
Debt instrument, unamortized discount and debt issuance costs, net	41	43
Secured Debt [Member] | 2012 Singapore Credit Facility Delayed Draw Term [Member] | Singapore [Member]
Debt Instrument [Line Items]
Debt instrument, unamortized discount and debt issuance costs, net	$ 1	$ 1

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) $ in Millions, $ in Millions, $ in Millions	Feb. 16, 2022USD ($)	Feb. 09, 2022	Mar. 31, 2022USD ($)	Mar. 31, 2022HKD ($)	Mar. 31, 2022HKD ($)	Mar. 31, 2022SGD ($)	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
Long-term debt, fair value			$ 14,350				$ 15,060
Long-term debt, contractual value			15,080				$ 14,900
United States [Member] | Unsecured Debt [Member] | LVSC Revolving Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, available borrowing capacity (HKD/SGD converted to USD at balance sheet date)			$ 1,500
United States [Member] | Unsecured Debt [Member] | LVSC Revolving Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, ratio of indebtedness to adjusted EBITDA, waived, temporary			4		4	4
Macao [Member] | Unsecured Debt [Member] | SCL Senior Notes
Debt Instrument [Line Items]
Debt instrument, interest rate, increase (decrease)	0.25%
Debt instrument, annual incremental interest expense increase, period one	$ 9
Debt instrument, annual incremental interest expense increase, period two onwards until first maturity date	$ 18
Macao [Member] | Unsecured Debt [Member] | 2018 SCL Revolving Facility [Member]
Debt Instrument [Line Items]
Line of credit facility, available borrowing capacity (HKD/SGD converted to USD at balance sheet date)			$ 1,540
Macao [Member] | Unsecured Debt [Member] | 2018 SCL Revolving Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, ratio of indebtedness to adjusted EBITDA, waived, temporary			4		4	4
Macao [Member] | Unsecured Debt [Member] | 2018 SCL Revolving Facility [Member] | Hong Kong, Dollars
Debt Instrument [Line Items]
Line of credit facility, available borrowing capacity (HKD/SGD converted to USD at balance sheet date)			$ 1,390		$ 10,900
Proceeds from lines of credit			182	$ 1,420
Macao [Member] | Unsecured Debt [Member] | 2018 SCL Revolving Facility [Member] | United States of America, Dollars
Debt Instrument [Line Items]
Line of credit facility, available borrowing capacity (HKD/SGD converted to USD at balance sheet date)			147
Proceeds from lines of credit			$ 19
Singapore [Member] | Secured Debt [Member] | 2012 Singapore Credit Facility [Member] | Singapore Overnight Rate Average SORA [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.19%
Debt instrument, interest rate, period end rate			2.30%		2.30%	2.30%
Singapore [Member] | Secured Debt [Member] | 2012 Singapore Credit Facility [Member] | Minimum [Member] | Singapore Overnight Rate Average SORA [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate, through maturity		1.15%
Singapore [Member] | Secured Debt [Member] | 2012 Singapore Credit Facility [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, ratio of indebtedness to adjusted EBITDA, waived, temporary			4.5		4.5	4.5
Singapore [Member] | Secured Debt [Member] | 2012 Singapore Credit Facility [Member] | Maximum [Member] | Singapore Overnight Rate Average SORA [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate, through maturity		1.85%
Singapore [Member] | Secured Debt [Member] | 2012 Singapore Credit Facility Revolving [Member]
Debt Instrument [Line Items]
Line of credit facility, available borrowing capacity (HKD/SGD converted to USD at balance sheet date)			$ 438			$ 593
Singapore [Member] | Secured Debt [Member] | 2012 Singapore Credit Facility Revolving - Banker's Guarantee [Member]
Debt Instrument [Line Items]
Banker's guarantee (SGD converted to USD at balance sheet date)			113			153
Singapore [Member] | Secured Debt [Member] | 2012 Singapore Credit Facility Delayed Draw Term [Member]
Debt Instrument [Line Items]
Debt instrument, unused borrowing capacity, amount			$ 2,730			$ 3,690

Long-Term Debt - Cash flows fro

Long-Term Debt - Cash flows from Financing Activities Related to Long-Term Debt and Finance Lease Obligations (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Debt Instrument [Line Items]
Proceeds from long-term debt	$ 201	$ 505
Repayment of long-term debt and finance leases	(17)	(18)
Other [Member] | Finance Leases And Other Long Term Debt [Member]
Debt Instrument [Line Items]
Repayment of long-term debt and finance leases	(1)	(2)
Macao [Member] | Unsecured Debt [Member] | 2018 SCL Revolving Facility [Member]
Debt Instrument [Line Items]
Proceeds from long-term debt	201	505
Singapore [Member] | Secured Debt [Member] | 2012 Singapore Credit Facility [Member]
Debt Instrument [Line Items]
Repayments of long-term debt	$ (16)	$ (16)

Accounts Receivable, Net and _4

Accounts Receivable, Net and Customer Contract Related Liabilities - Schedule of Accounts, Notes, Loans and Financial Receivable (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, before provision for credit loss, current	$ 381	$ 434
Accounts receivable, provision for credit loss, current	234	232
Accounts receivable, after provision for credit loss, current	147	202
Casino [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, before provision for credit loss, current	313	313
Rooms [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, before provision for credit loss, current	9	13
Mall [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, before provision for credit loss, current	30	91
Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, before provision for credit loss, current	$ 29	$ 17

Accounts Receivable, Net and _5

Accounts Receivable, Net and Customer Contract Related Liabilities - Provision for Credit Losses Rollforward (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 232	$ 255
Provision for credit losses	4	4
Accounts receivable, provision for credit loss, writeoff	(2)	(15)
Accounts receivable, provision for credit loss, foreign exchange	0	(2)
Ending balance	$ 234	$ 242

Accounts Receivable, Net and _6

Accounts Receivable, Net and Customer Contract Related Liabilities - Customer Contract Related Liabilities (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021		Dec. 31, 2021		Dec. 31, 2020
Outstanding Chip Liability [Member]
Customer contract related liabilities [Line Items]
Contract with customer, liability		$ 57	$ 153		$ 74		$ 197
Change in customer contract related liabilities		(17)	(44)
Loyalty Program Liability [Member]
Customer contract related liabilities [Line Items]
Contract with customer, liability		63	62		61		62
Change in customer contract related liabilities		2	0
Customer Deposits and Other Deferred Revenue [Member]
Customer contract related liabilities [Line Items]
Contract with customer, liability	[1]	587	610		618		633
Change in customer contract related liabilities		(31)	(23)
Customer Deposits and Other Deferred Revenue [Member] | Mall [Member]
Customer contract related liabilities [Line Items]
Contract with customer, liability		$ 145	$ 152	[1]	$ 145	[1]	$ 152
[1]	Of this amount, $145 million as of March 31 and January 1, 2022 and $152 million as of March 31 and January 1, 2021, relate to mall deposits that are accounted for based on lease terms usually greater than one year.

Other Accrued Liabilities (Deta

Other Accrued Liabilities (Details) - USD ($) $ in Millions	Mar. 31, 2022	Dec. 31, 2021
Other Accrued Liabilities [Line Items]
Payroll and related	$ 164	$ 253
Taxes and licenses	103	143
Accrued interest payable	73	157
Other accruals	240	237
Other accrued liabilities	1,091	1,334
Customer Deposits [Member]
Other Accrued Liabilities [Line Items]
Contract and contract related, liability, current	454	470
Outstanding Chip Liability [Member]
Other Accrued Liabilities [Line Items]
Contract and contract related, liability, current	$ 57	$ 74

Earnings (Loss) Per Share - Wei

Earnings (Loss) Per Share - Weighted Average Number of Common and Common Equivalent Shares Used in Calculation of Basic and Diluted Earnings Per Share (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Weighted average shares outstanding:
Weighted-average common shares outstanding (used in the calculation of basic earnings (loss) per share) (in shares)	764	764
Potential dilution from stock options and restricted stock and stock units (in shares)	0	0
Weighted-average common and common equivalent shares (used in the calculation of diluted earnings (loss) per share) (in shares)	764	764
Antidilutive stock options excluded from the calculation of diluted earnings (loss) per share (in shares)	15	3

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Income taxes [Line Items]
Effective tax rate	0.40%	5.30%
Valuation allowance, deferred tax asset, increase (decrease), amount		$ 20
Singapore [Member] | Foreign Tax Authority [Member] | Inland Revenue, Singapore (IRAS) [Member]
Income taxes [Line Items]
Statutory tax rate	17.00%
United States [Member] | Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Income taxes [Line Items]
Statutory federal income tax rate	21.00%
Macao [Member] | Foreign Tax Authority [Member] | Macao Finance Bureau (MFB) [Member]
Income taxes [Line Items]
Statutory tax rate	12.00%
Percentage of gaming tax on gross revenue	35.00%

Lessor, Lease Revenue Component

Lessor, Lease Revenue Components (Details) - Mall [Member] - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021
Lessor, Lease, Description [Line Items]
Minimum rents		$ 124	$ 131
Overage rents		14	17
Rent concessions	[1]	(12)	(20)
Government grants received		0	6	[2]
Total overage rents, rent concessions and other		2	3
Lease revenue		$ 126	$ 134
[1]	Rent concessions were provided for the periods presented to tenants as a result of the COVID-19 Pandemic and the impact on mall operations.
[2]	Amount related to a grant provided by the Singapore government to lessors to support small and medium enterprises impacted by the COVID-19 Pandemic in connection with their rent obligations.

Commitments and Contingencies (

Commitments and Contingencies (Details) - Asian American Entertainment Corporation, Limited [Member] MOP$ in Millions, $ in Millions	Jul. 10, 2021MOP (MOP$)	Jul. 10, 2021USD ($)	Jul. 15, 2019MOP (MOP$)	Jul. 15, 2019USD ($)	Jan. 19, 2012MOP (MOP$)	Jan. 19, 2012USD ($)	Mar. 31, 2022MOP (MOP$)	Mar. 31, 2022USD ($)
Commitments and Contingencies [Line Items]
Loss contingency, damages sought (patacas converted to USD at balance sheet date)			MOP$ 96450	$ 11,960	MOP$ 3000	$ 372
Loss contingency, legal fees sought, value	MOP$ 93	$ 12
Loss contingency, first plaintiff expert estimated damages, value							MOP$ 57880	$ 7,180
Loss contingency, second plaintiff expert estimated damages, value							MOP$ 62290	$ 7,730

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information (Details) - USD ($) $ in Millions		3 Months Ended
		Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Segment Reporting Information [Line Items]
Net revenues		$ 943	$ 1,196
Adjusted property EBITDA	[1]	110	244
Stock-based compensation	[2]	(5)	(5)
Corporate		(59)	(49)
Pre-opening		(4)	(5)
Development		(60)	(9)
Depreciation and amortization		(264)	(255)
Amortization of leasehold interests in land		(14)	(14)
Loss on disposal or impairment of assets		(6)	(3)
Operating loss		(302)	(96)
Interest income		4	1
Interest expense, net of amounts capitalized		(156)	(154)
Other expense		(22)	(17)
Income tax expense		(2)	(14)
Net loss from continuing operations		(478)	(280)
Total stock-based compensation expense	[2]	14	7
Capital expenditures		137	291
Assets		22,247		$ 20,059
Corporate expense
Segment Reporting Information [Line Items]
Total stock-based compensation expense	[2]	9	2
Continuing Operations
Segment Reporting Information [Line Items]
Assets				16,756
Corporate and Other [Member]
Segment Reporting Information [Line Items]
Assets		7,257		1,357
Macao [Member]
Segment Reporting Information [Line Items]
Net revenues		551	777
Adjusted property EBITDA		(11)	100
Capital expenditures		84	268
Assets		9,692		10,073
Macao [Member] | The Venetian Macao [Member]
Segment Reporting Information [Line Items]
Net revenues		227	340
Adjusted property EBITDA		19	82
Capital expenditures		14	22
Assets		1,935		2,087
Macao [Member] | The Londoner Macao [Member]
Segment Reporting Information [Line Items]
Net revenues		121	137
Adjusted property EBITDA		(33)	(23)
Capital expenditures		67	238
Assets		4,410		4,494
Macao [Member] | The Parisian Macao [Member]
Segment Reporting Information [Line Items]
Net revenues		74	87
Adjusted property EBITDA		(11)	(8)
Capital expenditures		0	1
Assets		1,907		1,962
Macao [Member] | The Plaza Macao and Four Seasons Macao [Member]
Segment Reporting Information [Line Items]
Net revenues		102	170
Adjusted property EBITDA		32	70
Capital expenditures		2	5
Assets		1,073		1,145
Macao [Member] | Sands Macao [Member]
Segment Reporting Information [Line Items]
Net revenues		20	35
Adjusted property EBITDA		(17)	(18)
Capital expenditures		1	2
Assets		225		253
Macao [Member] | Ferry Operations and Other [Member]
Segment Reporting Information [Line Items]
Net revenues		7	8
Adjusted property EBITDA		(1)	(3)
Assets		142		132
Singapore [Member] | Marina Bay Sands [Member]
Segment Reporting Information [Line Items]
Net revenues		399	426
Adjusted property EBITDA		121	144
Capital expenditures		50	23
Assets		5,298		$ 5,326
United States [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Net revenues		22	25
Capital expenditures		3	0
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net revenues	[3]	(29)	(32)
Intersegment Eliminations [Member] | Macao [Member]
Segment Reporting Information [Line Items]
Net revenues		(7)	(6)
Intersegment Eliminations [Member] | Macao [Member] | The Venetian Macao [Member]
Segment Reporting Information [Line Items]
Net revenues		(2)	(1)
Intersegment Eliminations [Member] | Macao [Member] | Ferry Operations and Other [Member]
Segment Reporting Information [Line Items]
Net revenues		(5)	(5)
Intersegment Eliminations [Member] | Singapore [Member] | Marina Bay Sands [Member]
Segment Reporting Information [Line Items]
Net revenues		0	(1)
Intersegment Eliminations [Member] | United States [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Net revenues		(22)	(25)
Casino [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		627	865
Net revenues		627	865
Casino [Member] | Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		359	562
Casino [Member] | Macao [Member] | The Venetian Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		157	266
Casino [Member] | Macao [Member] | The Londoner Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		79	91
Casino [Member] | Macao [Member] | The Parisian Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		51	59
Casino [Member] | Macao [Member] | The Plaza Macao and Four Seasons Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		55	115
Casino [Member] | Macao [Member] | Sands Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		17	31
Casino [Member] | Macao [Member] | Ferry Operations and Other [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		0	0
Casino [Member] | Singapore [Member] | Marina Bay Sands [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		268	303
Casino [Member] | United States [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		0	0
Casino [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	[3]	0	0
Rooms [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		95	96
Net revenues		95	96
Rooms [Member] | Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		57	64
Rooms [Member] | Macao [Member] | The Venetian Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		16	19
Rooms [Member] | Macao [Member] | The Londoner Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		19	19
Rooms [Member] | Macao [Member] | The Parisian Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		11	12
Rooms [Member] | Macao [Member] | The Plaza Macao and Four Seasons Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		9	11
Rooms [Member] | Macao [Member] | Sands Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		2	3
Rooms [Member] | Macao [Member] | Ferry Operations and Other [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		0	0
Rooms [Member] | Singapore [Member] | Marina Bay Sands [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		38	32
Rooms [Member] | United States [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		0	0
Rooms [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	[3]	0	0
Food and Beverage [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		53	56
Net revenues		53	56
Food and Beverage [Member] | Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		22	23
Food and Beverage [Member] | Macao [Member] | The Venetian Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		6	6
Food and Beverage [Member] | Macao [Member] | The Londoner Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		8	7
Food and Beverage [Member] | Macao [Member] | The Parisian Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		3	5
Food and Beverage [Member] | Macao [Member] | The Plaza Macao and Four Seasons Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		4	4
Food and Beverage [Member] | Macao [Member] | Sands Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		1	1
Food and Beverage [Member] | Macao [Member] | Ferry Operations and Other [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		0	0
Food and Beverage [Member] | Singapore [Member] | Marina Bay Sands [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		31	33
Food and Beverage [Member] | United States [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		0	0
Food and Beverage [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	[3]	0	0
Mall [Member]
Segment Reporting Information [Line Items]
Net revenues		149	156
Mall [Member] | Macao [Member]
Segment Reporting Information [Line Items]
Net revenues		100	109
Mall [Member] | Macao [Member] | The Venetian Macao [Member]
Segment Reporting Information [Line Items]
Net revenues		44	46
Mall [Member] | Macao [Member] | The Londoner Macao [Member]
Segment Reporting Information [Line Items]
Net revenues		14	14
Mall [Member] | Macao [Member] | The Parisian Macao [Member]
Segment Reporting Information [Line Items]
Net revenues		8	10
Mall [Member] | Macao [Member] | The Plaza Macao and Four Seasons Macao [Member]
Segment Reporting Information [Line Items]
Net revenues		34	39
Mall [Member] | Macao [Member] | Sands Macao [Member]
Segment Reporting Information [Line Items]
Net revenues		0	0
Mall [Member] | Macao [Member] | Ferry Operations and Other [Member]
Segment Reporting Information [Line Items]
Net revenues		0	0
Mall [Member] | Singapore [Member] | Marina Bay Sands [Member]
Segment Reporting Information [Line Items]
Net revenues		49	47
Mall [Member] | United States [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Net revenues		0	0
Mall [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net revenues	[3]	0	0
Convention, Retail and Other [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		19	23
Net revenues		19	23
Convention, Retail and Other [Member] | Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		13	19
Convention, Retail and Other [Member] | Macao [Member] | The Venetian Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		4	3
Convention, Retail and Other [Member] | Macao [Member] | The Londoner Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		1	6
Convention, Retail and Other [Member] | Macao [Member] | The Parisian Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		1	1
Convention, Retail and Other [Member] | Macao [Member] | The Plaza Macao and Four Seasons Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		0	1
Convention, Retail and Other [Member] | Macao [Member] | Sands Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		0	0
Convention, Retail and Other [Member] | Macao [Member] | Ferry Operations and Other [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		7	8
Convention, Retail and Other [Member] | Singapore [Member] | Marina Bay Sands [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		13	11
Convention, Retail and Other [Member] | United States [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer		22	25
Convention, Retail and Other [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	[3]	$ (29)	$ (32)
[1]	Consolidated adjusted property EBITDA, which is a non-GAAP financial measure, is net income (loss) from continuing operations before stock-based compensation expense, corporate expense, pre-opening expense, development expense, depreciation and amortization, amortization of leasehold interests in land, gain or loss on disposal or impairment of assets, interest, other income or expense, gain or loss on modification or early retirement of debt and income taxes. Consolidated adjusted property EBITDA is a supplemental non-GAAP financial measure used by management, as well as industry analysts, to evaluate operations and operating performance. In particular, management utilizes consolidated adjusted property EBITDA to compare the operating profitability of its operations with those of its competitors, as well as a basis for determining certain incentive compensation. Integrated Resort companies have historically reported adjusted property EBITDA as a supplemental performance measure to GAAP financial measures. In order to view the operations of their properties on a more stand-alone basis, Integrated Resort companies, including Las Vegas Sands Corp., have historically excluded certain expenses that do not relate to the management of specific properties, such as pre-opening expense, development expense and corporate expense, from their adjusted property EBITDA calculations. Consolidated adjusted property EBITDA should not be interpreted as an alternative to income from operations (as an indicator of operating performance) or to cash flows from operations (as a measure of liquidity), in each case, as determined in accordance with GAAP. The Company has significant uses of cash flow, including capital expenditures, dividend payments, interest payments, debt principal repayments and income taxes, which are not reflected in consolidated adjusted property EBITDA. Not all companies calculate adjusted property EBITDA in the same manner. As a result, consolidated adjusted property EBITDA as presented by the Company may not be directly comparable to similarly titled measures presented by other companies.
[2]	During the three months ended March 31, 2022 and 2021, the Company recorded stock-based compensation expense of $14 million and $7 million, respectively, of which $9 million and $2 million, respectively, was included in corporate expense in the accompanying condensed consolidated statements of operations.
[3]	Intercompany eliminations include royalties and other intercompany services.