Las Vegas Sands (LVS) 10-Q 19 Apr 24 2024 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2024	Apr. 17, 2024
Cover [Abstract]
Document type	10-Q
Document quarterly report	true
Document period end date	Mar. 31, 2024
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	5420 S. Durango Dr.
Entity address, city	Las Vegas,
Entity address, state or province	NV
Entity address, postal zip code	89113
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		745,047,150
Entity central index key	0001300514
Current fiscal year end date	--12-31
Document fiscal year focus	2024
Document fiscal period focus	Q1
Amendment flag	false

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) shares in Millions, $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 4,956	$ 5,105
Accounts receivable, net of provision for credit losses of $206 and $201	420	484
Inventories	39	38
Prepaid expenses and other	141	150
Total current assets	5,556	5,777
Loan receivable	1,211	1,194
Property and equipment, net	11,266	11,439
Restricted cash	124	124
Deferred income taxes, net	121	121
Leasehold interests in land, net	2,120	2,249
Goodwill and intangible assets, net	584	598
Other assets, net	263	276
Total assets	21,245	21,778
Current liabilities:
Accounts payable	156	167
Construction payables	151	146
Other accrued liabilities	1,661	1,948
Income taxes payable	256	261
Current maturities of long-term debt	2,043	1,900
Total current liabilities	4,267	4,422
Other long-term liabilities	864	936
Deferred income taxes	175	187
Long-term debt	11,914	12,129
Total liabilities	17,220	17,674
Commitments and contingencies (Note 9)
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, 834 and 833 shares issued, 745 and 753 shares outstanding	1	1
Treasury stock, at cost, 89 and 80 shares	(5,446)	(4,991)
Capital in excess of par value	6,493	6,481
Accumulated other comprehensive income (loss)	(38)	27
Retained earnings	2,943	2,600
Total Las Vegas Sands Corp. stockholders’ equity	3,953	4,118
Noncontrolling interests	72	(14)
Total equity	4,025	4,104
Total liabilities and equity	21,245	21,778
Accounts receivable, provision for credit loss, current	$ 206	$ 201
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	834	833
Common stock, shares outstanding	745	753
Treasury stock, shares	89	80

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Millions, $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Revenues:
Net revenues	$ 2,959	$ 2,120
Operating expenses:
Provision for (recovery of) credit losses	11	(6)
General and administrative	286	251
Corporate	78	57
Pre-opening	3	2
Development	53	42
Depreciation and amortization	320	274
Amortization of leasehold interests in land	16	14
Loss on disposal or impairment of assets	14	14
Total operating expenses	2,242	1,742
Operating income	717	378
Other income (expense):
Interest income	71	70
Interest expense, net of amounts capitalized	(182)	(218)
Other expense	(6)	(35)
Income before income taxes	600	195
Income tax expense	(17)	(50)
Net income	583	145
Net (income) loss attributable to noncontrolling interests	(89)	2
Net income attributable to Las Vegas Sands Corp.	$ 494	$ 147
Earnings per share:
Basic (in usd per share)	$ 0.66	$ 0.19
Diluted (in usd per share)	$ 0.66	$ 0.19
Weighted average shares outstanding:
Basic (in shares)	750	764
Diluted (in shares)	752	766
Casino [Member]
Revenues:
Net revenues	$ 2,228	$ 1,541
Operating expenses:
Cost of revenue	1,180	874
Rooms [Member]
Revenues:
Net revenues	330	243
Operating expenses:
Cost of revenue	78	56
Food and Beverage [Member]
Revenues:
Net revenues	150	124
Operating expenses:
Cost of revenue	126	104
Mall [Member]
Revenues:
Net revenues	174	162
Operating expenses:
Cost of revenue	20	21
Convention, Retail and Other [Member]
Revenues:
Net revenues	77	50
Operating expenses:
Cost of revenue	$ 57	$ 39

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Loss (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Statement of Comprehensive Income [Abstract]
Net income	$ 583	$ 145
Currency translation adjustment	(57)	23
Cash flow hedge fair value adjustment	(12)	(5)
Total comprehensive income	514	163
Comprehensive (income) loss attributable to noncontrolling interests	(85)	2
Comprehensive income attributable to Las Vegas Sands Corp.	$ 429	$ 165

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Millions	Total	Common Stock [Member]	Treasury Stock, Common [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, 2022	$ 3,656	$ 1	$ (4,481)	$ 6,684	$ (7)	$ 1,684	$ (225)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	145					147	(2)
Currency translation adjustment	23				22		1
Cash flow hedge fair value adjustment	(5)				(4)		(1)
Stock-based compensation	11			11
Tax withholding on vesting of equity awards	(1)			(1)
Ending balance at Mar. 31, 2023	3,829	1	(4,481)	6,694	11	1,831	(227)
Beginning balance at Dec. 31, 2023	4,104	1	(4,991)	6,481	27	2,600	(14)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	583					494	89
Currency translation adjustment	(57)				(57)		0
Cash flow hedge fair value adjustment	(12)				(8)		(4)
Stock-based compensation	15			14			1
Tax withholding on vesting of equity awards	(2)			(2)
Repurchase of common stock	(455)		(455)
Dividends, common stock, cash	(151)					(151)
Ending balance at Mar. 31, 2024	$ 4,025	$ 1	$ (5,446)	$ 6,493	$ (38)	$ 2,943	$ 72
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Common stock, dividends declared (per share)	$ 0.20

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Cash flows from operating activities:
Net income	$ 583	$ 145
Adjustments to reconcile net income to net cash generated from operating activities:
Depreciation and amortization	320	274
Amortization of leasehold interests in land	16	14
Amortization of deferred financing costs and original issue discount	15	15
Change in fair value of derivative asset/liability	0	(2)
Paid-in-kind interest income	(17)	(7)
Loss on disposal or impairment of assets	3	6
Stock-based compensation expense	14	11
Provision for (recovery of) credit losses	11	(6)
Foreign exchange loss	5	37
Deferred income taxes	(10)	(10)
Changes in operating assets and liabilities:
Accounts receivable	48	(53)
Other assets	5	6
Accounts payable	(10)	18
Other liabilities	(269)	(7)
Net cash generated from operating activities	714	441
Cash flows from investing activities:
Capital expenditures	(196)	(166)
Acquisition of intangible assets and other	(4)	(16)
Net cash used in investing activities	(200)	(182)
Cash flows from financing activities:
Tax withholding on vesting of equity awards	(2)	(1)
Repurchase of common stock	(450)	0
Payments of ordinary dividends, common stock	(151)	0
Repayments of long-term debt	(17)	(17)
Payments of financing costs	0	(1)
Other	(19)	(17)
Net cash used in financing activities	(639)	(36)
Effect of exchange rate on cash, cash equivalents and restricted cash and cash equivalents	(24)	(3)
Increase (decrease) in cash, cash equivalents and restricted cash and cash equivalents	(149)	220
Cash, cash equivalents and restricted cash and cash equivalents at beginning of period	5,229	6,436
Cash, cash equivalents and restricted cash and cash equivalents at end of period	5,080	6,656
Supplemental disclosure of cash flow information
Cash payments for interest, net of amounts capitalized	260	296
Cash payments for taxes, net of refunds	31	25
Change in construction-related payables	21	(7)
Excise tax accrued on repurchase of common stock	$ 5	$ 0

Organization and Business of Co

Organization and Business of Company	3 Months Ended
	Mar. 31, 2024
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, 2023, 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. Operations Macao From 2020 through the beginning of 2023, the Company’s operations in Macao were negatively impacted by the reduction in travel and tourism related to the COVID-19 pandemic. The Macao government's policy regarding the management of COVID-19 and general travel restrictions was relaxed in late December 2022 and early January 2023. Since then, visitation to the Company’s Macao Integrated Resorts and operations has improved. The Macao government announced total visitation from mainland China to Macao increased approximately 125.8% during the two months ended February 29, 2024 (the latest statistics currently available), as compared to the same period in 2023. The Macao government also announced gross gaming revenue increased approximately 65.5% during the three months ended March 31, 2024, as compared to the same period in 2023. Singapore The Company’s operations in Singapore continued to be positive as travel and tourism spending increased, resulting from the elimination of all remaining COVID-19 border measures in February 2023. Visitation to Marina Bay Sands continues to improve since the travel restrictions have been lifted. The Singapore Tourism Board (“STB”) announced total visitation to Singapore increased to approximately 4.4 million for the three months ended March 31, 2024, from approximately 2.9 million for the same period in 2023. Development Projects Macao As part of the Concession entered into by Venetian Macau Limited (“VML,” a subsidiary of Sands China Ltd., a majority-owned subsidiary of the Company) and the Macao government, VML has a financial commitment to spend 35.80 billion patacas (approximately $4.44 billion at exchange rates in effect on March 31, 2024) through 2032 on both capital and operating projects, including 33.36 billion patacas (approximately $4.14 billion at exchange rates in effect on March 31, 2024) in non-gaming projects that will also appeal to international visitors. The Company continues work on Phase II of The Londoner Macao, which includes the renovation of the rooms in the Sheraton and Conrad hotel towers, an upgrade of the gaming areas and the addition of new attractions, dining, retail and entertainment offerings. These projects have a total estimated cost of $1.2 billion and are expected to be substantially completed in early 2025. Singapore In April 2019, the Company’s wholly owned subsidiary, Marina Bay Sands Pte. Ltd. (“MBS”) and the STB entered into a development agreement (the “Second Development Agreement”) pursuant to which MBS has agreed to construct a development, which will include a hotel tower with luxury rooms and suites, a rooftop attraction, convention and meeting facilities and a state-of-the-art live entertainment arena with approximately 15,000 seats (the “MBS Expansion Project”). The Second Development Agreement provides for a total minimum project cost of approximately 4.5 billion Singapore dollars (“SGD,” approximately $3.3 billion at exchange rates in effect on March 31, 2024). The estimated cost and timing of the total project will be updated as the Company completes design and begins construction. The Company expects the total project cost will materially exceed the amounts referenced above from April 2019 based on current market conditions due to inflation, higher material and labor costs and other factors. The Company has incurred approximately $1.10 billion as of March 31, 2024, inclusive of the payment made in 2019 for the lease of the parcels of land underlying the MBS Expansion Project site. On April 3, 2024, MBS and the STB entered into a letter agreement, which further extended the construction commencement deadline to July 8, 2025 and the construction completion deadline to July 8, 2029. The renovation of Towers 1 and 2 of Marina Bay Sands is now complete and has introduced world class suites and other luxury amenities at a cost of approximately $1.0 billion. The Company is continuing with the renovation of the Tower 3 hotel rooms into world class suites and other property changes at an estimated cost of approximately $750 million , with an expected completion by 2025. These renovations at Marina Bay Sands are substantially upgrading the overall guest experience for its premium customers, including new dining and retail experiences, and upgrading the casino floor, among other things. These projects are in addition to the previously announced plans for the MBS Expansion Project. New York On June 2, 2023, the Company acquired the Nassau Veterans Memorial Coliseum (the “Nassau Coliseum”) from Nassau Live Center, LLC and related entities, which included the right to lease the underlying land from the County of Nassau (the “County”) in the State of New York (the “Nassau Coliseum Transaction”). The Company purchased the Nassau Coliseum with the intent to obtain a casino license from the State of New York to develop and operate an Integrated Resort. There is no assurance the Company will be able to resolve certain matters associated with the right to lease the underlying land from the County or to obtain such casino license. Refer to “Note 7 — Leases” for further details. Recent Accounting Pronouncements

Accounts Receivable, Net and Cu

Accounts Receivable, Net and Customer Contract Related Liabilities	3 Months Ended
	Mar. 31, 2024
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 consists of the following: March 31, December 31, (In millions) Casino $ 514 $ 483 Rooms 28 33 Mall 44 126 Other 40 43 626 685 Less - provision for credit losses (206) (201) $ 420 $ 484 The following table shows the movement in the provision for credit losses recognized for accounts receivable: 2024 2023 (In millions) Balance at January 1 $ 201 $ 217 Current period provision for (recovery of) credit losses 11 (6) Write-offs (4) (2) Exchange rate impact (2) — Balance at March 31 $ 206 $ 209
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) 2024 2023 2024 2023 2024 2023 (In millions) Balance at January 1 $ 135 $ 81 $ 45 $ 72 $ 690 $ 614 Balance at March 31 83 89 45 68 705 624 Increase (decrease) $ (52) $ 8 $ — $ (4) $ 15 $ 10 ____________________ (1) Of this amount, $166 million and $167 million as of March 31 and January 1, 2024 , respectively, and $152 million and $149 million as of March 31 and January 1, 2023, respectively, related to mall deposits that are accounted for based on lease terms usually greater than one year.

Long-Term Debt

Long-Term Debt	3 Months Ended
	Mar. 31, 2024
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 $1 and $2, respectively) $ 1,749 $ 1,748 2.900% Senior Notes due 2025 (net of unamortized original issue discount and deferred financing costs of $1) 499 499 3.500% Senior Notes due 2026 (net of unamortized original issue discount and deferred financing costs of $5) 995 995 3.900% Senior Notes due 2029 (net of unamortized original issue discount and deferred financing costs of $5 and $6, respectively) 745 744 Macao Related (1) : 5.125% Senior Notes due 2025 (net of unamortized original issue discount and deferred financing costs of $4) 1,796 1,796 3.800% Senior Notes due 2026 (net of unamortized original issue discount and deferred financing costs of $3 and $4, respectively) 797 796 2.300% Senior Notes due 2027 (net of unamortized original issue discount and deferred financing costs of $4 and $5, respectively) 696 695 5.400% Senior Notes due 2028 (net of unamortized original issue discount and deferred financing costs of $11) 1,889 1,889 2.850% Senior Notes due 2029 (net of unamortized original issue discount and deferred financing costs of $5) 645 645 4.375% Senior Notes due 2030 (net of unamortized original issue discount and deferred financing costs of $7) 693 693 3.250% Senior Notes due 2031 (net of unamortized original issue discount and deferred financing costs of $5) 595 595 Other (2) 21 19 Singapore Related (1) : 2012 Singapore Credit Facility — Term (net of unamortized deferred financing costs of $20 and $24, respectively) 2,791 2,867 2012 Singapore Delayed Draw Term Facility 46 47 Other — 1 13,957 14,029 Less — current maturities (2,043) (1,900) Total long-term debt $ 11,914 $ 12,129 ____________________ (1) Unamortized deferred financing costs of $50 million and $59 million as of March 31, 2024 and December 31, 2023, 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,” and “Prepaid expenses and other” in the accompanying condensed consolidated balance sheets. (2) Includes finance leases related to Macao of $20 million and $18 million as of March 31, 2024 and December 31, 2023, respectively. LVSC Revolving Facility On April 3, 2024, LVSC entered into a new revolving credit agreement, as further described below, and upon entering into the new agreement, the then-existing LVSC Revolving Credit Agreement was terminated. As of March 31, 2024, the Company had $1.50 billion of available borrowing capacity under the LVSC Revolving Facility, net of outstanding letters of credit. 2024 LVSC Revolving Facility On April 3, 2024, LVSC entered into a revolving credit agreement with the arrangers and lenders named therein and The Bank of Nova Scotia, as administrative agent for the lenders (the “2024 LVSC Revolving Credit Agreement”), pursuant to which the lenders provided unsecured, revolving credit commitments to LVSC in an aggregate principal amount of $1.50 billion (the “2024 LVSC Revolving Facility”), which are available until April 3, 2029, and include a $150 million sub-facility for letters of credit. LVSC may utilize the proceeds of the loans for general corporate purposes and working capital requirements of LVSC and its subsidiaries and any other purpose not prohibited by the 2024 LVSC Revolving Credit Agreement. The loans made under the 2024 Revolving Credit Agreement will bear interest at either, at LVSC’s option, (x) an adjusted SOFR rate, plus an applicable margin ranging from 1.125% to 1.550% per annum, or (y) at an alternate base rate, plus an applicable margin ranging from 0.125% to 0.550% per annum, in each case, depending on LVSC’s corporate family credit rating. Under the 2024 Revolving Credit Agreement, LVSC must pay a commitment fee quarterly in arrears on the undrawn portion of the revolving commitments, which commitment fee ranges from 0.125% to 0.250% per annum, depending on LVSC’s corporate family credit rating. The 2024 Revolving Credit Agreement contains customary affirmative and negative covenants, in each case, subject to customary exceptions and thresholds, including a financial covenant limiting LVSC and its Restricted Subsidiaries (as defined in the agreement) to a maximum consolidated net leverage ratio of 4.0x as of the last day of each fiscal quarter. The negative covenants include, among other things, limitations on (i) the incurrence of liens on the assets of LVSC and certain subsidiaries (the “Restricted Subsidiaries”), (ii) the incurrence of indebtedness by the Restricted Subsidiaries, (iii) the merger, consolidation or liquidation of LVSC or the sale of all or substantially all of LVSC’s assets and (iv) investments in subsidiaries of LVSC that are not Restricted Subsidiaries. The 2024 Revolving Credit 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, in each case subject to customary grace periods. In the case of a continuing event of default, the majority of lenders would be entitled to exercise various remedies, including the termination of any unused commitments and acceleration of any then-outstanding amounts due under the 2024 Revolving Credit Agreement. SCL Senior Notes On February 1, 2024, Fitch upgraded the credit rating for the Company and Sands China Ltd. (“SCL”) to BBB-. As a result of the upgrade, the coupon on each series of the outstanding SCL senior notes decreased by 0.25% per annum effective on the first interest payment date after February 1, 2024. 2018 SCL Credit Facility As of March 31, 2024, SCL had $2.49 billion of available borrowing capacity under the 2018 SCL Revolving Facility comprised of Hong Kong dollar (“HKD”) commitments of HKD 17.63 billion (approximately $2.25 billion at exchange rates in effect on March 31, 2024) and U.S. dollar commitments of $237 million. 2012 Singapore Credit Facility As of March 31, 2024, MBS had SGD 589 million (approximately $436 million at exchange rates in effect on March 31, 2024) 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, 2024) pursuant to the Second Development Agreement. As of March 31, 2024, there was SGD 3.69 billion (approximately $2.73 billion at exchange rates in effect on March 31, 2024) 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, 2024, management believes the Company was in compliance with all debt covenants. 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 2024 2023 (In millions) Repayments on 2012 Singapore Credit Facility $ (15) $ (16) Repayments on Other Long-Term Debt (2) (1) $ (17) $ (17)

Derivative Instruments

Derivative Instruments	3 Months Ended
	Mar. 31, 2024
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments	Derivative Instruments During the year ended December 31, 2021, the Company entered into a foreign currency swap agreement which was designated as a hedge of the cash flows related to a portion of the 2025 SCL Senior Notes (the “2025 Swap”). The 2025 Swap has a total notional value of $1.0 billion and expires in August 2025. During the three months ended March 31, 2024, the Company entered into additional foreign currency swap agreements, which were designated as a hedge of the cash flows related to a portion of the 2028 SCL Senior Notes (collectively, the “2028 Swaps”). The 2028 Swaps have a total notional value of $1.27 billion and expire in August 2028. The objective of these agreements is to manage the risk of changes in cash flows resulting from foreign currency gains/losses realized upon remeasurement of U.S. dollar denominated SCL Senior Notes by swapping a specified amount of Hong Kong dollars for U.S. dollars at the contractual spot rate. As of March 31, 2024, the total fair value of the 2025 Swap and the 2028 Swaps (together, the “FX Swaps”) is recorded as a liability in “Other long-term liabilities.” The fair value of the FX Swaps was estimated using Level 2 inputs from recently reported market transactions of foreign currency exchange rates. The changes in fair value of the FX Swaps were recognized as other comprehensive income in the accompanying condensed consolidated balance sheets. Additionally, the foreign currency gains/losses incurred from the remeasurement of the portion of the SCL Senior Notes being hedged were also recognized in “Other comprehensive income.”

Equity and Earnings Per Share

Equity and Earnings Per Share	3 Months Ended
	Mar. 31, 2024
Equity [Abstract]
Equity	Equity and Earnings Per Share Common Stock Dividends On February 14, 2024, the Company paid a dividend of $0.20 per common share as part of a regular cash dividend program. During the three months ended March 31, 2024, the Company recorded $151 million as a distribution against retained earnings. In April 2024, the Company’s Board of Directors declared a quarterly dividend of $0.20 per common share (a total estimated to be approximately $149 million) to be paid on May 15, 2024, to stockholders of record on May 7, 2024. Share Repurchases During the three months ended March 31, 2024, the Company repurchased 8,576,873 shares of its common stock for $455 million (including commissions and $5 million in excise tax) under the Company's current program. During the three months ended March 31, 2023, no shares of its common stock were repurchased. All share repurchases of the Company's common stock have been recorded as treasury stock in the accompanying condensed consolidated balance sheets. Repurchases of the Company's common stock are made at the Company's discretion in accordance with applicable federal securities laws in the open market or otherwise. The timing and actual number of shares to be repurchased in the future will depend on a variety of factors, including the Company's financial position, earnings, legal requirements, other investment opportunities and market conditions. Noncontrolling Interests in SCL Purchase of Noncontrolling Interest On December 5, 2023, the Company’s wholly owned subsidiary, Venetian Venture Development II (“VVDI II”), entered into a Master Confirmation and Supplemental Confirmation (collectively, the "Forward Purchase Agreement") with a financial institution (the “Dealer”) relating to the purchase of the common stock of SCL (the “Forward Purchase Transaction”).
Earnings Per Share	Earnings Per Share The weighted average number of common and common equivalent shares used in the calculation of basic and diluted earnings per share consisted of the following: Three Months Ended 2024 2023 (In millions) Weighted-average common shares outstanding (used in the calculation of basic earnings per share) 750 764 Potential dilution from stock options and restricted stock and stock units 2 2 Weighted-average common and common equivalent shares (used in the calculation of diluted earnings per share) 752 766 Antidilutive stock options excluded from the calculation of diluted earnings per share 6 5

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company’s effective income tax rate was 2.8% for the three months ended March 31, 2024, compared to 25.6% for the three months ended March 31, 2023. The effective income tax rate for the three months ended March 31, 2024, reflects a 17% statutory tax rate on the Company’s Singapore operations, a 21% corporate income tax rate on its domestic operations, and a zero percent tax rate on its Macao gaming operations due to the Company’s income tax exemption in Macao. On February 5, 2024, the Macao government provided notice that VML and its peers received an exemption from Macao’s corporate income tax on profits generated by the operation of casino games of chance for the period from January 1, 2023 through December 31, 2027. Additionally, on February 7, 2024, the Company entered into a shareholder dividend tax agreement with the Macao government, effective for the period from January 1, 2023 through December 31, 2025, providing for an annual payment at an applicable rate of gross gaming revenue as a substitution for a 12% tax otherwise due from VML shareholders on dividend distributions paid from VML gaming profits. For the year ended December 31, 2023, income tax expense included an anticipated $57 million shareholder dividend tax based on the information available at the balance sheet date. During the three months ended March 31, 2024, the Company reversed the $57 million of income tax expense and recorded $10 million to corporate expense related to the year ended December 31, 2023, to reflect the terms of the new shareholder dividend tax agreement.

Leases

Leases	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Leases	Leases Lessee The Company has operating and finance leases for various real estate (including leasehold interests in land) and equipment. Certain of these lease agreements include rental payments adjusted periodically for inflation, rental payments based on usage and rental payments contingent on certain events occurring. Certain of the Company’s leases include options to extend the lease term by one month to 10 years. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants. Nassau Coliseum In conjunction with the Nassau Coliseum Transaction, the seller assigned their lease of the land on which the related assets, including the Nassau Coliseum and other improvements, are affixed (the “Original Lease”) to the Company. Immediately following this assignment, the Company entered into a new land lease agreement with the County, for the use and exclusive right to develop and operate assets on the land (the “New Lease”), which commenced on June 2, 2023. On April 18, 2023, Hofstra University (“Hofstra”) filed a petition against the Nassau County Planning Commission (the “Planning Commission”) in the New York Supreme Court, County of Nassau, asserting, among other things, that certain meetings held by the Planning Commission concerning the New Lease and certain related transactions were not properly noticed and/or held, and that appropriate materials concerning the meetings were not made available to the public by the Planning Commission in connection with the meetings. On May 31, 2023, Hofstra filed an amended petition that, among other things, added additional respondents and sought to invalidate certain votes held by the County and the Nassau County Legislature. The Company is not a party to these proceedings. In a decision and order dated November 9, 2023, the Court annulled various votes held by the Nassau County Legislature, annulled the New Lease and remitted the matter to the Planning Commission and the Nassau County Legislature to conduct a proper public hearing in accordance with all relevant statutes and rules, including the Nassau County Administrative Code and the Open Meetings law and for the issuance of a positive declaration pursuant to the New York State Environmental Quality Review Act and for the preparation of an Environmental Impact Statement. On November 10, 2023, the respondents appealed the decision and order and on November 21, 2023, Hofstra cross-appealed. On December 13, 2023, the Appellate Division: Second Judicial Department denied respondents’ motion to stay enforcement of the decision and order pending the appeal, but granted a calendar preference, indicating that the appeal will be calendared expeditiously after all briefs have been filed. With the invalidation of the New Lease noted above, the Company believed it had become the lessee in the Original Lease. This was accounted for as a lease modification on December 14, 2023. Prior to the invalidation of the New Lease, the Company made the required lease payments, including a one-time rent payment of $54 million. On January 29, 2024, Hofstra filed a motion seeking a declaration that the Court’s prior order included the annulment of Nassau County’s consent and the putative assignment to the Company of the Original Lease. On February 23, 2024, the New York State Supreme Court ruled the Original Lease has been terminated and the Company currently has no leasehold interest in the land upon which the Nassau Coliseum sits. On February 27, 2024, the respondents appealed the decision, order and interlocutory judgment. On March 29, 2024, the Appellate Division: Second Judicial Department denied respondents’ motion to stay enforcement of the decision, order and interlocutory judgment. Subsequent to this order, the Company entered into a use and occupancy permit (the “Permit”) with the County to allow the Company to continue operating the Nassau Coliseum for a nominal $1 fee. The Company considered the accounting guidance under ASC 842 and determined the Permit meets the definition of a lease as it conveys the right to control the use of the associated assets for a specified period of time. Consequently, the Original Lease was deemed to be modified, maintaining the operating lease classification. The lease liability was reduced to $0 and an equivalent adjustment was made to the related right-of-use asset, reducing it to $73 million. Lessor Lease revenue for the Company’s mall operations consists of the following: Three Months Ended 2024 2023 (In millions) Minimum rents $ 132 $ 121 Overage rents 17 18 $ 149 $ 139

Fair Value Disclosures

Fair Value Disclosures	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value Disclosures	Fair Value Disclosures The following table presents the carrying amounts and estimated fair values of financial instruments held or issued by the Company as of March 31, 2024 and December 31, 2023, using available market information. Determining fair value is judgmental in nature and requires market assumptions and/or estimation methodologies. The table excludes cash, restricted cash, accounts receivables, net, and accounts payable, all of which had fair values approximating their carrying amounts due to the short maturities and liquidity of these instruments. March 31, 2024 Hierarchy Level Carrying Amount Level 1 Level 2 (in millions) Assets: Cash equivalents Cash deposits $ 2,346 $ 2,346 Money market funds 403 403 U.S. Treasury Bills 825 825 Loan Receivable (1) 1,211 $ 1,129 Liabilities: Long-term debt (2) 14,008 13,451 Cross-currency swaps (2) 12 12 December 31, 2023 Hierarchy Level Carrying Amount Level 1 Level 2 (in millions) Assets: Cash equivalents Cash deposits $ 2,153 $ 2,153 Money market funds 52 52 U.S. Treasury Bills 1,124 1,124 Loan Receivable (1) 1,194 $ 1,130 Liabilities: Long-term debt (2) 14,090 13,526 Cross-currency swaps (2) 3 3 ____________________ (1) The fair value is estimated based on level 2 inputs and reflects the increase in market interest rates since finalizing the terms of the loan receivable at a fixed interest rate on March 2, 2021. (2) The estimated fair value is based on recent trades, if available, and indicative pricing from market information (level 2 inputs).

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2024
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 January 19, 2012, Asian American Entertainment Corporation, Limited (“AAEC” or “Plaintiff”) filed a claim with the Macao First Instance Court against VML, LVS (Nevada) International Holdings, Inc. (“LVS (Nevada)”), Las Vegas Sands, LLC (“LVSLLC”) and Venetian Casino Resort (“VCR”) (collectively, the “Defendants”) for 3.0 billion patacas (approximately $372 million at exchange rates in effect on March 31, 2024), which 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 March 24, 2014, the Macao First Instance Court issued a decision holding that AAEC’s claim against VML is unfounded and that VML be removed as a party to the proceedings. 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 First Instance Court to dismiss the claims against them as res judicata based on the dismissal of prior action in the United States that had alleged similar claims. On March 16, 2016, the Macao First Instance Court dismissed the defense of res judicata. An appeal against that decision was lodged by U.S. Defendants on April 7, 2016. At the end of December 2016, all the appeals were transferred to the Macao Second Instance Court. Evidence gathering by the Macao First Instance commenced by letters rogatory, which was completed on March 14, 2019. On July 15, 2019, AAEC submitted a request to the Macao First Instance 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, 2024), allegedly representing lost profits from 2004 to 2018, and reserving its right to claim for lost profits up to 2022. On September 4, 2019, the Macao First Instance Court allowed AAEC’s amended request. The U.S. Defendants appealed the decision allowing the amended claim on September 17, 2019; the Macao First Instance Court accepted the appeal on September 26, 2019, and that appeal is currently pending. On April 16, 2021, the U.S. Defendants moved to reschedule the trial because of the ongoing COVID-19 pandemic. The Macao First Instance Court denied the U.S. Defendants’ motion on May 28, 2021. The U.S. Defendants appealed that ruling on June 16, 2021, and that appeal is currently pending. The trial began on June 16, 2021. By order dated June 17, 2021, the Macao First Instance Court scheduled additional trial dates in late 2021 to hear witnesses who were subject to COVID-19 travel restrictions that prevented or severely limited their ability to enter Macao. The U.S. Defendants appealed certain aspects of the Macao First Instance Court’s June 17, 2021 order, and that appeal 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, 2024) based on Plaintiff’s July 15, 2019 amendment. By motion dated July 20, 2021, the U.S. Defendants moved for an order withdrawing that invoice. The Macao First Instance 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 First Instance Court ordered that the invoice for supplemental court fees be stayed pending resolution of that appeal. 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, 2024). On April 28, 2022, the Macao First Instance Court entered a judgment for the U.S. Defendants. The Macao First Instance Court also held that Plaintiff litigated certain aspects of its case in bad faith. Plaintiff filed a notice of appeal from the Macao First Instance Court’s judgment on May 13, 2022. That appeal is fully briefed and remains pending with the Macao Second Instance Court. On September 19, 2022, the U.S. Defendants were notified of an invoice for appeal court fees totaling 48 million patacas (approximately $6 million at exchange rates in effect on March 31, 2024). By motion dated September 29, 2022, the U.S. Defendants moved the Macao First Instance Court for an order withdrawing that invoice. The Macao First Instance Court denied that motion by order dated October 24, 2022. The U.S. Defendants appealed that order on November 10, 2022 and on January 6, 2023, submitted the appeal brief, and that appeal remains pending. On October 9, 2023, the U.S. Defendants were notified that the Macao Second Instance Court had invited Plaintiff to amend its appeal brief, primarily to separate out matters of fact from matters of law, and Plaintiff had submitted an amended appeal brief on October 5, 2023. The U.S. Defendants responded to Plaintiff’s amended appeal brief on October 30, 2023. On November 8, 2023, the Macao Second Instance Court issued an order concluding that Plaintiff may have litigated in bad faith by exceeding the scope of permissible amendments to its appeal brief and invited responses from the parties. Plaintiff moved for clarification of the November 8 order on November 22, 2023, and the U.S. Defendants responded to the November 8 order on November 23, 2023. On January 5, 2024, the Macao Second Instance Court rejected Plaintiff's request for clarification. This matter is currently pending the Macao Second Instance Court's decision. 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. 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 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, which on March 28, 2022, the U.S. District Court granted 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 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. On May 18, 2022, the defendants filed a motion to dismiss the second amended complaint, and briefing was completed on July 8, 2022. On August 8, 2023, the U.S. District Court denied Lead Plaintiffs’ motion for reconsideration, and granted in part and denied in part the defendants’ motion to dismiss the second amended complaint. The U.S. District Court dismissed Lead Plaintiffs’ allegations pertaining to the challenged statements that were made in 2016, 2017 and 2018, but allowed the allegations pertaining to the challenged statements from 2019 and 2020 to proceed. On August 22, 2023, the defendants filed a motion for partial reconsideration, requesting that the U.S. District Court reconsider its denial of the motion to dismiss with respect to the challenged statements from 2019 and 2020. If the motion for partial reconsideration is granted, this would result in dismissal of the second amended complaint. The defendants also moved, in the event the motion for partial reconsideration is not granted, for certification for interlocutory appeal of the U.S. District Court’s order allowing the challenged statements from 2019 and 2020 to proceed. The defendants simultaneously filed a motion for a stay pending adjudication of the motion for reconsideration, which requests a stay of all discovery and case deadlines. Briefing on both motions was completed on September 12, 2023. On December 19, 2023, the U.S. District Court granted the defendants’ motion for partial reconsideration and, on January 2, 2024, entered an amended order granting the defendants’ motion to dismiss the second amended complaint in its entirety. The U.S. District Court also granted Lead Plaintiffs leave to file an amended complaint by January 18, 2024. In addition, in light of its granting the motion for partial reconsideration, the U.S. District Court denied the defendants’ motion for a stay of discovery and case deadlines as moot. On January 18, 2024, Lead Plaintiffs informed the defendants that they would not be filing an amended complaint. On February 22, 2024, Lead Plaintiffs and the defendants filed a stipulation to dismiss Lead Plaintiffs’ claims with prejudice with each party bearing its own fees and costs. Based on the stipulation, the U.S. District Court dismissed the action with prejudice on February 26, 2024, and final judgment was entered in favor of the defendants on February 27, 2024. Lead Plaintiffs did not file a notice of appeal by the March 28, 2024 deadline and therefore, this matter is concluded. Turesky v. Sheldon G. Adelson, et al. On December 28, 2020, Andrew Turesky filed a putative shareholder derivative action on behalf of the Company in the U.S. District Court, against Sheldon G. Adelson, Patrick Dumont, Robert G. Goldstein, Irwin Chafetz, Micheline Chau, Charles D. Forman, Steven L. Gerard, George Jamieson, Charles A. Koppelman, Lewis Kramer and David F. Levi, all of whom are current or former directors and/or officers of LVSC. The complaint asserts claims for breach of fiduciary duty, unjust enrichment, waste of corporate assets, abuse of control, gross mismanagement, violations of Sections 10(b), 14(a) and 20(a) of the Exchange Act and for contribution under Sections 10(b) and 21D of the Exchange Act. On February 24, 2021, the U.S. District Court entered an order granting the parties’ stipulation to stay this action in light of the Daniels Family 2001 Revocable Trust putative securities class action (the “Securities Action”). Subject to the terms of the parties’ stipulation, this action was stayed until 30 days after the final resolution of the motion to dismiss in the Securities Action. On March 11, 2021, the U.S. District Court granted the plaintiff’s 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 January 2, 2024, the second amended complaint in the Securities Action was dismissed in its entirety, and the case was dismissed with prejudice on February 26, 2024. On February 27, 2024, the U.S. District Court lifted the stay in this action and ordered the parties to meet and confer and submit a proposed scheduling order by March 12, 2024. On March 8, 2024, the parties in this action filed a stipulation requesting that their deadline to submit the proposed scheduling order be extended to April 11, 2024, in order to know, before submitting the proposed scheduling order, whether the plaintiffs in the Securities Action would appeal by their deadline of March 28, 2024. The U.S. District Court granted the stipulation on March 13, 2024. The plaintiffs in the Securities Action did not file an appeal by the deadline. On April 9, 2024, the parties in this action filed a stipulation to dismiss the case in its entirety as to all defendants without prejudice, with each party bearing its own fees and costs. Based on the stipulation, the U.S. District Court dismissed this action without prejudice on April 10, 2024, and therefore, this matter is concluded.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Segment Information	Segment Information The 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 also reviews construction and development activities for its primary projects under development, in addition to its reportable segments noted above. 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 Company’s segment information as of March 31, 2024 and December 31, 2023, and for the three months ended March 31, 2024 and 2023 is as follows: Casino Rooms Food and Beverage Mall Convention, Retail and Other Net Revenues (In millions) Three Months Ended March 31, 2024 Macao: The Venetian Macao $ 638 $ 52 $ 17 $ 54 $ 10 $ 771 The Londoner Macao 419 89 27 16 11 562 The Parisian Macao 173 34 14 7 2 230 The Plaza Macao and Four Seasons Macao 70 25 8 38 1 142 Sands Macao 69 4 3 — — 76 Ferry Operations and Other — — — — 30 30 1,369 204 69 115 54 1,811 Marina Bay Sands 859 126 81 59 33 1,158 Intercompany royalties — — — — 63 63 Intercompany eliminations (1) — — — — (73) (73) Total net revenues $ 2,228 $ 330 $ 150 $ 174 $ 77 $ 2,959 Three Months Ended March 31, 2023 Macao: The Venetian Macao $ 446 $ 39 $ 13 $ 51 $ 9 $ 558 The Londoner Macao 198 55 14 14 2 283 The Parisian Macao 128 28 9 8 1 174 The Plaza Macao and Four Seasons Macao 109 20 6 36 1 172 Sands Macao 67 4 3 — — 74 Ferry Operations and Other — — — — 18 18 948 146 45 109 31 1,279 Marina Bay Sands 593 97 79 53 26 848 Intercompany royalties — — — — 48 48 Intercompany eliminations (1) — — — — (55) (55) Total net revenues $ 1,541 $ 243 $ 124 $ 162 $ 50 $ 2,120 ____________________ (1) Intercompany eliminations include royalties and other intercompany services. Three Months Ended 2024 2023 (In millions) Intersegment Revenues Macao: The Venetian Macao $ 2 $ 2 Ferry Operations and Other 6 5 8 7 Marina Bay Sands 2 — Intercompany royalties 63 48 Total intersegment revenues $ 73 $ 55 Three Months Ended 2024 2023 (In millions) Adjusted Property EBITDA Macao: The Venetian Macao $ 314 $ 210 The Londoner Macao 172 56 The Parisian Macao 71 46 The Plaza Macao and Four Seasons Macao 36 75 Sands Macao 12 10 Ferry Operations and Other 5 1 610 398 Marina Bay Sands 597 394 Consolidated adjusted property EBITDA (1) 1,207 792 Other Operating Costs and Expenses Stock-based compensation (2) (6) (11) Corporate (78) (57) Pre-opening (3) (2) Development (53) (42) Depreciation and amortization (320) (274) Amortization of leasehold interests in land (16) (14) Loss on disposal or impairment of assets (14) (14) Operating income 717 378 Other Non-Operating Costs and Expenses Interest income 71 70 Interest expense, net of amounts capitalized (182) (218) Other expense (6) (35) Income tax expense (17) (50) Net income $ 583 $ 145 ____________________ (1) Consolidated adjusted property EBITDA, which is a non-GAAP financial measure, is net income 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, 2024 and 2023 , the Company recorded stock-based compensation expense of $20 million and $22 million, respectively, of which $14 million and $11 million, respectively, was included in corporate expense in the accompanying condensed consolidated statements of operations. Three Months Ended 2024 2023 (In millions) Capital Expenditures Corporate and Other $ 7 $ 13 Macao: The Venetian Macao 38 11 The Londoner Macao 41 24 The Parisian Macao 4 — The Plaza Macao and Four Seasons Macao 3 2 Sands Macao 4 1 90 38 Marina Bay Sands 99 115 Total capital expenditures $ 196 $ 166 March 31, December 31, (In millions) Total Assets Corporate and Other $ 4,659 $ 5,167 Macao: The Venetian Macao 2,886 2,548 The Londoner Macao 4,145 4,193 The Parisian Macao 1,769 1,802 The Plaza Macao and Four Seasons Macao 980 1,059 Sands Macao 257 287 Ferry Operations and Other 263 335 10,300 10,224 Marina Bay Sands 6,286 6,387 Total assets $ 21,245 $ 21,778

Accounts Receivable, Net and _2

Accounts Receivable, Net and Customer Contract Related Liabilities (Tables)	3 Months Ended
	Mar. 31, 2024
Accounts, Notes, Loans and Financing Receivable, Gross, Allowance, and Net [Abstract]
Schedule of accounts, notes, loans and financing receivable	Accounts receivable consists of the following: March 31, December 31, (In millions) Casino $ 514 $ 483 Rooms 28 33 Mall 44 126 Other 40 43 626 685 Less - provision for credit losses (206) (201) $ 420 $ 484
Accounts receivable, provision for credit losses	The following table shows the movement in the provision for credit losses recognized for accounts receivable: 2024 2023 (In millions) Balance at January 1 $ 201 $ 217 Current period provision for (recovery of) credit losses 11 (6) Write-offs (4) (2) Exchange rate impact (2) — Balance at March 31 $ 206 $ 209
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) 2024 2023 2024 2023 2024 2023 (In millions) Balance at January 1 $ 135 $ 81 $ 45 $ 72 $ 690 $ 614 Balance at March 31 83 89 45 68 705 624 Increase (decrease) $ (52) $ 8 $ — $ (4) $ 15 $ 10 ____________________ (1) Of this amount, $166 million and $167 million as of March 31 and January 1, 2024 , respectively, and $152 million and $149 million as of March 31 and January 1, 2023, respectively, related to mall deposits that are accounted for based on lease terms usually greater than one year.

Long-Term Debt (Tables)

Long-Term Debt (Tables)	3 Months Ended
	Mar. 31, 2024
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 $1 and $2, respectively) $ 1,749 $ 1,748 2.900% Senior Notes due 2025 (net of unamortized original issue discount and deferred financing costs of $1) 499 499 3.500% Senior Notes due 2026 (net of unamortized original issue discount and deferred financing costs of $5) 995 995 3.900% Senior Notes due 2029 (net of unamortized original issue discount and deferred financing costs of $5 and $6, respectively) 745 744 Macao Related (1) : 5.125% Senior Notes due 2025 (net of unamortized original issue discount and deferred financing costs of $4) 1,796 1,796 3.800% Senior Notes due 2026 (net of unamortized original issue discount and deferred financing costs of $3 and $4, respectively) 797 796 2.300% Senior Notes due 2027 (net of unamortized original issue discount and deferred financing costs of $4 and $5, respectively) 696 695 5.400% Senior Notes due 2028 (net of unamortized original issue discount and deferred financing costs of $11) 1,889 1,889 2.850% Senior Notes due 2029 (net of unamortized original issue discount and deferred financing costs of $5) 645 645 4.375% Senior Notes due 2030 (net of unamortized original issue discount and deferred financing costs of $7) 693 693 3.250% Senior Notes due 2031 (net of unamortized original issue discount and deferred financing costs of $5) 595 595 Other (2) 21 19 Singapore Related (1) : 2012 Singapore Credit Facility — Term (net of unamortized deferred financing costs of $20 and $24, respectively) 2,791 2,867 2012 Singapore Delayed Draw Term Facility 46 47 Other — 1 13,957 14,029 Less — current maturities (2,043) (1,900) Total long-term debt $ 11,914 $ 12,129 ____________________ (1) Unamortized deferred financing costs of $50 million and $59 million as of March 31, 2024 and December 31, 2023, 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,” and “Prepaid expenses and other” in the accompanying condensed consolidated balance sheets. (2) Includes finance leases related to Macao of $20 million and $18 million as of March 31, 2024 and December 31, 2023, respectively.
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 2024 2023 (In millions) Repayments on 2012 Singapore Credit Facility $ (15) $ (16) Repayments on Other Long-Term Debt (2) (1) $ (17) $ (17)

Equity and Earnings Per Share (

Equity and Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2024
Equity [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 per share consisted of the following: Three Months Ended 2024 2023 (In millions) Weighted-average common shares outstanding (used in the calculation of basic earnings per share) 750 764 Potential dilution from stock options and restricted stock and stock units 2 2 Weighted-average common and common equivalent shares (used in the calculation of diluted earnings per share) 752 766 Antidilutive stock options excluded from the calculation of diluted earnings per share 6 5

Leases (Tables)

Leases (Tables)	3 Months Ended
	Mar. 31, 2024
Leases [Abstract]
Lessor, Lease Revenue Components	Lease revenue for the Company’s mall operations consists of the following: Three Months Ended 2024 2023 (In millions) Minimum rents $ 132 $ 121 Overage rents 17 18 $ 149 $ 139

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	3 Months Ended
	Mar. 31, 2024
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	The following table presents the carrying amounts and estimated fair values of financial instruments held or issued by the Company as of March 31, 2024 and December 31, 2023, using available market information. Determining fair value is judgmental in nature and requires market assumptions and/or estimation methodologies. The table excludes cash, restricted cash, accounts receivables, net, and accounts payable, all of which had fair values approximating their carrying amounts due to the short maturities and liquidity of these instruments. March 31, 2024 Hierarchy Level Carrying Amount Level 1 Level 2 (in millions) Assets: Cash equivalents Cash deposits $ 2,346 $ 2,346 Money market funds 403 403 U.S. Treasury Bills 825 825 Loan Receivable (1) 1,211 $ 1,129 Liabilities: Long-term debt (2) 14,008 13,451 Cross-currency swaps (2) 12 12 December 31, 2023 Hierarchy Level Carrying Amount Level 1 Level 2 (in millions) Assets: Cash equivalents Cash deposits $ 2,153 $ 2,153 Money market funds 52 52 U.S. Treasury Bills 1,124 1,124 Loan Receivable (1) 1,194 $ 1,130 Liabilities: Long-term debt (2) 14,090 13,526 Cross-currency swaps (2) 3 3 ____________________ (1) The fair value is estimated based on level 2 inputs and reflects the increase in market interest rates since finalizing the terms of the loan receivable at a fixed interest rate on March 2, 2021. (2) The estimated fair value is based on recent trades, if available, and indicative pricing from market information (level 2 inputs).

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2024
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	The Company’s segment information as of March 31, 2024 and December 31, 2023, and for the three months ended March 31, 2024 and 2023 is as follows: Casino Rooms Food and Beverage Mall Convention, Retail and Other Net Revenues (In millions) Three Months Ended March 31, 2024 Macao: The Venetian Macao $ 638 $ 52 $ 17 $ 54 $ 10 $ 771 The Londoner Macao 419 89 27 16 11 562 The Parisian Macao 173 34 14 7 2 230 The Plaza Macao and Four Seasons Macao 70 25 8 38 1 142 Sands Macao 69 4 3 — — 76 Ferry Operations and Other — — — — 30 30 1,369 204 69 115 54 1,811 Marina Bay Sands 859 126 81 59 33 1,158 Intercompany royalties — — — — 63 63 Intercompany eliminations (1) — — — — (73) (73) Total net revenues $ 2,228 $ 330 $ 150 $ 174 $ 77 $ 2,959 Three Months Ended March 31, 2023 Macao: The Venetian Macao $ 446 $ 39 $ 13 $ 51 $ 9 $ 558 The Londoner Macao 198 55 14 14 2 283 The Parisian Macao 128 28 9 8 1 174 The Plaza Macao and Four Seasons Macao 109 20 6 36 1 172 Sands Macao 67 4 3 — — 74 Ferry Operations and Other — — — — 18 18 948 146 45 109 31 1,279 Marina Bay Sands 593 97 79 53 26 848 Intercompany royalties — — — — 48 48 Intercompany eliminations (1) — — — — (55) (55) Total net revenues $ 1,541 $ 243 $ 124 $ 162 $ 50 $ 2,120 ____________________ (1) Intercompany eliminations include royalties and other intercompany services. Three Months Ended 2024 2023 (In millions) Intersegment Revenues Macao: The Venetian Macao $ 2 $ 2 Ferry Operations and Other 6 5 8 7 Marina Bay Sands 2 — Intercompany royalties 63 48 Total intersegment revenues $ 73 $ 55 Three Months Ended 2024 2023 (In millions) Adjusted Property EBITDA Macao: The Venetian Macao $ 314 $ 210 The Londoner Macao 172 56 The Parisian Macao 71 46 The Plaza Macao and Four Seasons Macao 36 75 Sands Macao 12 10 Ferry Operations and Other 5 1 610 398 Marina Bay Sands 597 394 Consolidated adjusted property EBITDA (1) 1,207 792 Other Operating Costs and Expenses Stock-based compensation (2) (6) (11) Corporate (78) (57) Pre-opening (3) (2) Development (53) (42) Depreciation and amortization (320) (274) Amortization of leasehold interests in land (16) (14) Loss on disposal or impairment of assets (14) (14) Operating income 717 378 Other Non-Operating Costs and Expenses Interest income 71 70 Interest expense, net of amounts capitalized (182) (218) Other expense (6) (35) Income tax expense (17) (50) Net income $ 583 $ 145 ____________________ (1) Consolidated adjusted property EBITDA, which is a non-GAAP financial measure, is net income 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, 2024 and 2023 , the Company recorded stock-based compensation expense of $20 million and $22 million, respectively, of which $14 million and $11 million, respectively, was included in corporate expense in the accompanying condensed consolidated statements of operations. Three Months Ended 2024 2023 (In millions) Capital Expenditures Corporate and Other $ 7 $ 13 Macao: The Venetian Macao 38 11 The Londoner Macao 41 24 The Parisian Macao 4 — The Plaza Macao and Four Seasons Macao 3 2 Sands Macao 4 1 90 38 Marina Bay Sands 99 115 Total capital expenditures $ 196 $ 166 March 31, December 31, (In millions) Total Assets Corporate and Other $ 4,659 $ 5,167 Macao: The Venetian Macao 2,886 2,548 The Londoner Macao 4,145 4,193 The Parisian Macao 1,769 1,802 The Plaza Macao and Four Seasons Macao 980 1,059 Sands Macao 257 287 Ferry Operations and Other 263 335 10,300 10,224 Marina Bay Sands 6,286 6,387 Total assets $ 21,245 $ 21,778

Organization and Business of _2

Organization and Business of Company - Additional Information (Details) Seat in Thousands, MOP$ in Millions, $ in Millions, $ in Billions	3 Months Ended
	Mar. 31, 2024 MOP (MOP$) Seat	Mar. 31, 2024 USD ($) Seat	Mar. 31, 2024 SGD ($) Seat
Macao [Member] | Macao Concession [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Gaming and non-gaming financial concession commitment	MOP$ 35800	$ 4,440
Non-gaming financial concession commitment	MOP$ 33360	4,140
Macao [Member] | The Londoner Macao [Member] | Scenario, Plan [Member] | Phase II [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Expected Cost to Complete		1,200
Singapore [Member] | Marina Bay Sands [Member] | MBS Expansion Project [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Costs incurred to date, development costs		1,100
Singapore [Member] | Marina Bay Sands [Member] | Tower 1 and Tower 2 [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Costs incurred, development costs		1,000
Singapore [Member] | Marina Bay Sands [Member] | Scenario, Plan [Member] | MBS Expansion Project [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Expected Cost to Complete		3,300	$ 4.5
Singapore [Member] | Marina Bay Sands [Member] | Scenario, Plan [Member] | Tower 3 [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Expected Cost to Complete		$ 750
Singapore [Member] | Marina Bay Sands [Member] | Theater [Member] | Scenario, Plan [Member] | MBS Expansion Project [Member]
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Number Of Seats | Seat	15	15	15

Accounts Receivable, Net and _3

Accounts Receivable, Net and Customer Contract Related Liabilities - Schedule of Accounts, Notes, Loans and Financial Receivable (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 626	$ 685
Less - provision for credit losses	(206)	(201)
Accounts receivable, net	420	484
Casino [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	514	483
Rooms [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	28	33
Mall [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	44	126
Other [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts receivable, gross	$ 40	$ 43

Accounts Receivable, Net and _4

Accounts Receivable, Net and Customer Contract Related Liabilities - Provision for Credit Losses Rollforward (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 201	$ 217
Provision for (recovery of) credit losses	11	(6)
Write-offs	(4)	(2)
Exchange rate impact	(2)	0
Ending balance	$ 206	$ 209

Accounts Receivable, Net and _5

Accounts Receivable, Net and Customer Contract Related Liabilities - Customer Contract Related Liabilities (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Outstanding Chip Liability [Member]
Customer contract related liabilities [Line Items]
Contract with customer, liability	$ 83	$ 89	$ 135	$ 81
Change in customer contract related liabilities	(52)	8
Loyalty Program Liability [Member]
Customer contract related liabilities [Line Items]
Contract with customer, liability	45	68	45	72
Change in customer contract related liabilities	0	(4)
Customer Deposits and Other Deferred Revenue [Member]
Customer contract related liabilities [Line Items]
Contract with customer, liability	705	624	690	614
Change in customer contract related liabilities	15	10
Customer Deposits and Other Deferred Revenue [Member] | Mall [Member]
Customer contract related liabilities [Line Items]
Contract with customer, liability	$ 166	$ 152	$ 167	$ 149

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-Term Debt (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Debt Instrument [Line Items]
Other	$ 13,957	$ 14,029
Long-term debt, including current maturities	13,957	14,029
Less - current maturities	(2,043)	(1,900)
Total long-term debt	11,914	12,129
Other Assets, Net and Prepaid expenses and Other [Member]
Debt Instrument [Line Items]
Debt issuance costs, net in other assets and prepaid expenses and other	50	59
Macao [Member]
Debt Instrument [Line Items]
Finance lease, liability	20	18
Other [Member] | Macao [Member]
Debt Instrument [Line Items]
Other	21	19
Long-term debt, including current maturities	21	19
Other [Member] | Singapore [Member]
Debt Instrument [Line Items]
Other	0	1
Long-term debt, including current maturities	0	1
Unsecured Debt [Member] | 3.200% Senior Notes due 2024 [Member] | United States [Member]
Debt Instrument [Line Items]
Long-term debt	1,749	1,748
Debt instrument, unamortized discount and debt issuance costs, net	1	2
Unsecured Debt [Member] | 2.900% Senior Notes due 2025 [Member] | United States [Member]
Debt Instrument [Line Items]
Long-term debt	499	499
Debt instrument, unamortized discount and debt issuance costs, net	1	1
Unsecured Debt [Member] | 3.500% Senior Notes due 2026 [Member] | United States [Member]
Debt Instrument [Line Items]
Long-term debt	995	995
Debt instrument, unamortized discount and debt issuance costs, net	5	5
Unsecured Debt [Member] | 3.900% Senior Notes due 2029 [Member] | United States [Member]
Debt Instrument [Line Items]
Long-term debt	745	744
Debt instrument, unamortized discount and debt issuance costs, net	5	6
Unsecured Debt [Member] | 5.125% Senior Notes due 2025 [Member] | Macao [Member]
Debt Instrument [Line Items]
Long-term debt	1,796	1,796
Debt instrument, unamortized discount and debt issuance costs, net	4	4
Unsecured Debt [Member] | 3.800% Senior Notes due 2026 [Member] | Macao [Member]
Debt Instrument [Line Items]
Long-term debt	797	796
Debt instrument, unamortized discount and debt issuance costs, net	3	4
Unsecured Debt [Member] | 2.300% Senior Notes due 2027 [Member] | Macao [Member]
Debt Instrument [Line Items]
Long-term debt	696	695
Debt instrument, unamortized discount and debt issuance costs, net	4	5
Unsecured Debt [Member] | 5.400% Senior Notes due 2028 [Member] | Macao [Member]
Debt Instrument [Line Items]
Long-term debt	1,889	1,889
Debt instrument, unamortized discount and debt issuance costs, net	11	11
Unsecured Debt [Member] | 2.850% Senior Notes due 2029 [Member] | Macao [Member]
Debt Instrument [Line Items]
Long-term debt	645	645
Debt instrument, unamortized discount and debt issuance costs, net	5	5
Unsecured Debt [Member] | 4.375% Senior Notes due 2030 [Member] | Macao [Member]
Debt Instrument [Line Items]
Long-term debt	693	693
Debt instrument, unamortized discount and debt issuance costs, net	7	7
Unsecured Debt [Member] | 3.250% Senior Notes due 2031 [Member] | Macao [Member]
Debt Instrument [Line Items]
Long-term debt	595	595
Debt instrument, unamortized discount and debt issuance costs, net	5	5
Secured Debt [Member] | 2012 Singapore Credit Facility Term [Member] | Singapore [Member]
Debt Instrument [Line Items]
Long-term debt	2,791	2,867
Debt instrument, unamortized discount and debt issuance costs, net	20	24
Secured Debt [Member] | 2012 Singapore Credit Facility Delayed Draw Term [Member] | Singapore [Member]
Debt Instrument [Line Items]
Long-term debt	$ 46	$ 47

Long-Term Debt - Additional Inf

Long-Term Debt - Additional Information (Details) $ in Millions, $ in Millions	Apr. 03, 2024 USD ($)	Feb. 01, 2024	Mar. 31, 2024 USD ($)	Mar. 31, 2024 HKD ($)	Mar. 31, 2024 SGD ($)
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)			$ 1,500,000,000
United States [Member] | Unsecured Debt [Member] | 2024 LVSC Revolving Facility [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 1,500,000,000
United States [Member] | Unsecured Debt [Member] | 2024 LVSC Revolving Facility [Member] | Minimum [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.125%
United States [Member] | Unsecured Debt [Member] | 2024 LVSC Revolving Facility [Member] | Minimum [Member] | Adjusted SOFR [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.125%
United States [Member] | Unsecured Debt [Member] | 2024 LVSC Revolving Facility [Member] | Minimum [Member] | Base Rate [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.125%
United States [Member] | Unsecured Debt [Member] | 2024 LVSC Revolving Facility [Member] | Maximum [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Line of credit facility, unused capacity, commitment fee percentage	0.25%
Debt instrument, ratio of indebtedness to adjusted EBITDA	4
United States [Member] | Unsecured Debt [Member] | 2024 LVSC Revolving Facility [Member] | Maximum [Member] | Adjusted SOFR [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.55%
United States [Member] | Unsecured Debt [Member] | 2024 LVSC Revolving Facility [Member] | Maximum [Member] | Base Rate [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.55%
United States [Member] | Unsecured Debt [Member] | 2024 LVSC Revolving Facility - Sub-Facility [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 150,000,000
Macao [Member] | Unsecured Debt [Member] | SCL Senior Notes [Member] | Fitch, BBB- Rating
Debt Instrument [Line Items]
Debt instrument, interest rate, increase (decrease)		0.25%
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)			2,490,000,000
Macao [Member] | Unsecured Debt [Member] | 2018 SCL Revolving Facility [Member] | Hong Kong, Dollars [Member]
Debt Instrument [Line Items]
Line of credit facility, available borrowing capacity (HKD/SGD converted to USD at balance sheet date)			2,250,000,000	$ 17,630
Macao [Member] | Unsecured Debt [Member] | 2018 SCL Revolving Facility [Member] | United States of America, Dollars [Member]
Debt Instrument [Line Items]
Line of credit facility, available borrowing capacity (HKD/SGD converted to USD at balance sheet date)			237,000,000
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)			436,000,000		$ 589
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)			113,000,000		153
Singapore [Member] | Secured Debt [Member] | 2012 Singapore Credit Facility Delayed Draw Term [Member]
Debt Instrument [Line Items]
Debt instrument, unused borrowing capacity, amount			$ 2,730,000,000		$ 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, 2024	Mar. 31, 2023
Debt Instrument [Line Items]
Repayment of long-term debt and finance leases	$ (17)	$ (17)
Other [Member] | Finance Leases And Other Long Term Debt [Member]
Debt Instrument [Line Items]
Repayment of long-term debt and finance leases	(2)	(1)
Singapore [Member] | Secured Debt [Member] | 2012 Singapore Credit Facility [Member]
Debt Instrument [Line Items]
Repayments of long-term debt	$ (15)	$ (16)

Derivative Instruments (Details

Derivative Instruments (Details) - Cash Flow Hedging [Member] - Currency Swap [Member] - Designated as Hedging Instrument [Member] - USD ($)	Mar. 31, 2024	Dec. 31, 2021
2025 Swaps [Member]
Derivative [Line Items]
Derivative, notional amount		$ 1,000,000,000
2028 Swaps [Member]
Derivative [Line Items]
Derivative, notional amount	$ 1,270,000,000

Equity and Earnings Per Share_2

Equity and Earnings Per Share (Details) $ / shares in Units, $ in Millions				1 Months Ended	3 Months Ended
	May 15, 2024 USD ($)	Apr. 18, 2024 $ / shares shares	Feb. 14, 2024 $ / shares	Apr. 30, 2024 $ / shares	Mar. 31, 2024 USD ($) $ / shares shares	Mar. 31, 2023 USD ($) shares
Class of Stock [Line Items]
Common stock, dividends, per share, cash paid | $ / shares			$ 0.20
Dividends, common stock, cash					$ 151
Common stock, dividends declared (per share) | $ / shares					$ 0.20
Repurchase of common stock					$ 450	$ 0
Excise Tax on Share Repurchase [Member]
Class of Stock [Line Items]
Taxes, miscellaneous					$ 5
June 2018 Program [Member]
Class of Stock [Line Items]
Treasury Stock, Shares, Acquired | shares					8,576,873	0
Repurchase of common stock					$ 455
Subsequent Event [Member]
Class of Stock [Line Items]
Common stock, dividends declared (per share) | $ / shares				$ 0.20
Subsequent Event [Member] | Sands China Ltd [Member] | Macao [Member] | Las Vegas Sands Corp.
Class of Stock [Line Items]
Subsidiary's shares, shares, acquired | shares		90,467,099
Purchase of subsidiary's shares, final price paid per share | $ / shares		$ 21.57
Ownership interest in Sands China Ltd., percentage		71%
Retained Earnings (Deficit) [Member]
Class of Stock [Line Items]
Dividends, common stock, cash					$ 151
Retained Earnings (Deficit) [Member] | Forecast [Member]
Class of Stock [Line Items]
Dividends, common stock, cash	$ 149

Equity and Earnings Per Share -

Equity and Earnings 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, 2024	Mar. 31, 2023
Weighted average shares outstanding:
Weighted-average common shares outstanding (used in the calculation of basic earnings (loss) per share) (in shares)	750	764
Potential dilution from stock options and restricted stock and stock units (in shares)	2	2
Weighted-average common and common equivalent shares (used in the calculation of diluted earnings (loss) per share) (in shares)	752	766
Antidilutive stock options excluded from the calculation of diluted earnings (loss) per share (in shares)	6	5

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Income taxes [Line Items]
Effective tax rate	2.80%	25.60%
Singapore [Member] | Foreign Tax Authority [Member] | Inland Revenue, Singapore (IRAS) [Member]
Income taxes [Line Items]
Statutory Tax Rate, Percent	17%
United States [Member] | Domestic Tax Authority [Member] | Internal Revenue Service (IRS) [Member]
Income taxes [Line Items]
Statutory federal income tax rate	21%
Macao [Member] | Foreign Tax Authority [Member] | Macao Finance Bureau (MFB) [Member]
Income taxes [Line Items]
Statutory Tax Rate, Percent	12%
Statutory tax rate due to income tax exemption, percent	0%
Macao [Member] | Foreign Tax Authority [Member] | Macao Finance Bureau (MFB) [Member] | Income tax expense (benefit) [Member]
Income taxes [Line Items]
Shareholder dividend tax under proposed rate			$ 57
Reversal of Shareholder dividend tax under proposed rate	$ 57
Macao [Member] | Foreign Tax Authority [Member] | Macao Finance Bureau (MFB) [Member] | Corporate expense [Member]
Income taxes [Line Items]
Tax exemption annual payment for prior period	$ 10

Leases - Additional Information

Leases - Additional Information (Details) - USD ($)		3 Months Ended
	Jun. 02, 2023	Mar. 31, 2024
Nassau Coliseum [Member]
Lessee, Lease, Description [Line Items]
Finance Lease, principal payments	$ 54,000,000
Use and occupancy permit fee		$ 1
Operating Lease, Liability		0
Right-of-use asset obtained in exchange for operating lease liability		$ 73,000,000
Minimum [Member]
Lessee, Lease, Description [Line Items]
Lessee, finance lease, renewal term		1 month
Lessee, operating lease, renewal term		1 month
Maximum [Member]
Lessee, Lease, Description [Line Items]
Lessee, finance lease, renewal term		10 years
Lessee, operating lease, renewal term		10 years

Lessor, Lease Revenue Component

Lessor, Lease Revenue Components (Details) - Mall [Member] - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023
Lessor, Lease, Description [Line Items]
Minimum rents	$ 132	$ 121
Overage rents	17	18
Lease revenue	$ 149	$ 139

Fair Value Disclosures (Details

Fair Value Disclosures (Details) - USD ($) $ in Millions	Mar. 31, 2024	Dec. 31, 2023
Fair Value Disclosure, Asset and Liability [Line Items]
Loan receivable	$ 1,211	$ 1,194
Long-term debt, contractual value	14,008	14,090
Currency Swap [Member]
Fair Value Disclosure, Asset and Liability [Line Items]
Derivative liability	12	3
Bank Time Deposits [Member]
Fair Value Disclosure, Asset and Liability [Line Items]
Cash equivalents, at carrying value	2,346	2,153
Money Market Funds [Member]
Fair Value Disclosure, Asset and Liability [Line Items]
Cash equivalents, at carrying value	403	52
US Treasury Securities [Member]
Fair Value Disclosure, Asset and Liability [Line Items]
Cash equivalents, at carrying value	825	1,124
Fair Value, Inputs, Level 1 [Member] | Bank Time Deposits [Member]
Fair Value Disclosure, Asset and Liability [Line Items]
Cash and cash equivalents, fair value disclosure	2,346	2,153
Fair Value, Inputs, Level 1 [Member] | Money Market Funds [Member]
Fair Value Disclosure, Asset and Liability [Line Items]
Cash and cash equivalents, fair value disclosure	403	52
Fair Value, Inputs, Level 1 [Member] | US Treasury Securities [Member]
Fair Value Disclosure, Asset and Liability [Line Items]
Cash and cash equivalents, fair value disclosure	825	1,124
Fair Value, Inputs, Level 2 [Member]
Fair Value Disclosure, Asset and Liability [Line Items]
Loans receivable, fair value disclosure	1,129	1,130
Long-term debt, fair value	13,451	13,526
Foreign currency contracts, liability, fair value disclosure	$ 12	$ 3

Commitments and Contingencies (

Commitments and Contingencies (Details) - Asian American Entertainment Corporation, Limited [Member] MOP$ in Millions, $ in Millions									1 Months Ended
	Sep. 19, 2022 MOP (MOP$)	Sep. 19, 2022 USD ($)	Jul. 10, 2021 MOP (MOP$)	Jul. 10, 2021 USD ($)	Jul. 15, 2019 MOP (MOP$)	Jul. 15, 2019 USD ($)	Jan. 19, 2012 MOP (MOP$)	Jan. 19, 2012 USD ($)	Jan. 19, 2022 MOP (MOP$)	Jan. 19, 2022 USD ($)
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, supplemental court 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
Loss contingency, appeal court fees sought, value	MOP$ 48	$ 6

Segment Information - Schedule

Segment Information - Schedule of Segment Reporting Information (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2024	Mar. 31, 2023	Dec. 31, 2023
Segment Reporting Information [Line Items]
Net revenues	$ 2,959	$ 2,120
Adjusted property EBITDA	1,207	792
Stock-based compensation	(6)	(11)
Corporate	(78)	(57)
Pre-opening	(3)	(2)
Development	(53)	(42)
Depreciation and amortization	(320)	(274)
Amortization of leasehold interests in land	(16)	(14)
Loss on disposal or impairment of assets	(14)	(14)
Operating income	717	378
Interest income	71	70
Interest expense, net of amounts capitalized	(182)	(218)
Other expense	(6)	(35)
Income tax expense	(17)	(50)
Net income	583	145
Total stock-based compensation expense	20	22
Capital expenditures	196	166
Assets	21,245		$ 21,778
Corporate expense [Member]
Segment Reporting Information [Line Items]
Total stock-based compensation expense	14	11
Macao [Member]
Segment Reporting Information [Line Items]
Net revenues	1,811	1,279
Adjusted property EBITDA	610	398
Capital expenditures	90	38
Assets	10,300		10,224
Macao [Member] | The Venetian Macao [Member]
Segment Reporting Information [Line Items]
Net revenues	771	558
Adjusted property EBITDA	314	210
Capital expenditures	38	11
Assets	2,886		2,548
Macao [Member] | The Londoner Macao [Member]
Segment Reporting Information [Line Items]
Net revenues	562	283
Adjusted property EBITDA	172	56
Capital expenditures	41	24
Assets	4,145		4,193
Macao [Member] | The Parisian Macao [Member]
Segment Reporting Information [Line Items]
Net revenues	230	174
Adjusted property EBITDA	71	46
Capital expenditures	4	0
Assets	1,769		1,802
Macao [Member] | The Plaza Macao and Four Seasons Macao [Member]
Segment Reporting Information [Line Items]
Net revenues	142	172
Adjusted property EBITDA	36	75
Capital expenditures	3	2
Assets	980		1,059
Macao [Member] | Sands Macao [Member]
Segment Reporting Information [Line Items]
Net revenues	76	74
Adjusted property EBITDA	12	10
Capital expenditures	4	1
Assets	257		287
Macao [Member] | Ferry Operations and Other [Member]
Segment Reporting Information [Line Items]
Net revenues	30	18
Adjusted property EBITDA	5	1
Assets	263		335
Singapore [Member] | Marina Bay Sands [Member]
Segment Reporting Information [Line Items]
Net revenues	1,158	848
Adjusted property EBITDA	597	394
Capital expenditures	99	115
Assets	6,286		6,387
United States [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Net revenues	63	48
Capital expenditures	7	13
Assets	4,659		$ 5,167
Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Net revenues	(73)	(55)
Intersegment Eliminations [Member] | Macao [Member] | Macao Operating Segments
Segment Reporting Information [Line Items]
Net revenues	(8)	(7)
Intersegment Eliminations [Member] | Macao [Member] | The Venetian Macao [Member]
Segment Reporting Information [Line Items]
Net revenues	(2)	(2)
Intersegment Eliminations [Member] | Macao [Member] | Ferry Operations and Other [Member]
Segment Reporting Information [Line Items]
Net revenues	(6)	(5)
Intersegment Eliminations [Member] | Singapore [Member] | Marina Bay Sands [Member]
Segment Reporting Information [Line Items]
Net revenues	(2)	0
Intersegment Eliminations [Member] | United States [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Net revenues	(63)	(48)
Casino [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	2,228	1,541
Net revenues	2,228	1,541
Casino [Member] | Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	1,369	948
Casino [Member] | Macao [Member] | The Venetian Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	638	446
Casino [Member] | Macao [Member] | The Londoner Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	419	198
Casino [Member] | Macao [Member] | The Parisian Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	173	128
Casino [Member] | Macao [Member] | The Plaza Macao and Four Seasons Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	70	109
Casino [Member] | Macao [Member] | Sands Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	69	67
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	859	593
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	0	0
Rooms [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	330	243
Net revenues	330	243
Rooms [Member] | Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	204	146
Rooms [Member] | Macao [Member] | The Venetian Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	52	39
Rooms [Member] | Macao [Member] | The Londoner Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	89	55
Rooms [Member] | Macao [Member] | The Parisian Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	34	28
Rooms [Member] | Macao [Member] | The Plaza Macao and Four Seasons Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	25	20
Rooms [Member] | Macao [Member] | Sands Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	4	4
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	126	97
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	0	0
Food and Beverage [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	150	124
Net revenues	150	124
Food and Beverage [Member] | Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	69	45
Food and Beverage [Member] | Macao [Member] | The Venetian Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	17	13
Food and Beverage [Member] | Macao [Member] | The Londoner Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	27	14
Food and Beverage [Member] | Macao [Member] | The Parisian Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	14	9
Food and Beverage [Member] | Macao [Member] | The Plaza Macao and Four Seasons Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	8	6
Food and Beverage [Member] | Macao [Member] | Sands Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	3	3
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	81	79
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	0	0
Mall [Member]
Segment Reporting Information [Line Items]
Net revenues	174	162
Mall [Member] | Macao [Member]
Segment Reporting Information [Line Items]
Net revenues	115	109
Mall [Member] | Macao [Member] | The Venetian Macao [Member]
Segment Reporting Information [Line Items]
Net revenues	54	51
Mall [Member] | Macao [Member] | The Londoner Macao [Member]
Segment Reporting Information [Line Items]
Net revenues	16	14
Mall [Member] | Macao [Member] | The Parisian Macao [Member]
Segment Reporting Information [Line Items]
Net revenues	7	8
Mall [Member] | Macao [Member] | The Plaza Macao and Four Seasons Macao [Member]
Segment Reporting Information [Line Items]
Net revenues	38	36
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	59	53
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	0	0
Convention, Retail and Other [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	77	50
Net revenues	77	50
Convention, Retail and Other [Member] | Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	54	31
Convention, Retail and Other [Member] | Macao [Member] | The Venetian Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	10	9
Convention, Retail and Other [Member] | Macao [Member] | The Londoner Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	11	2
Convention, Retail and Other [Member] | Macao [Member] | The Parisian Macao [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	2	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	1	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	30	18
Convention, Retail and Other [Member] | Singapore [Member] | Marina Bay Sands [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	33	26
Convention, Retail and Other [Member] | United States [Member] | Corporate and Other [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	63	48
Convention, Retail and Other [Member] | Intersegment Eliminations [Member]
Segment Reporting Information [Line Items]
Revenue from contract with customer	$ (73)	$ (55)