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LAS VEGAS, April 26, 2017

For the Quarter Ended March 31, 2017
(Compared to the Quarter Ended March 31, 2016)

- Consolidated Net Revenue Increased 14.3% to $3.11 Billion

- Net Income Increased 41.3% to $578 Million

- GAAP Earnings per Diluted Share Increased 50% to $0.60; Adjusted Earnings per Diluted Share Increased 40.4% to $0.66; and Hold-Normalized Adjusted Earnings per Diluted Share Increased 11.9% to $0.66

- Consolidated Adjusted Property EBITDA Increased 24.9% to $1.15 Billion, With Margin Increasing 310 Basis Points to 36.9%

- Hold-Normalized Adjusted Property EBITDA Increased 9.5% to $1.14 Billion, With Margin Increasing 50 Basis Points to 36.7%

In Macao:

  • Adjusted Property EBITDA Increased 20.5% to $624 Million, While Hold-Normalized Adjusted Property EBITDA Increased 14.3% to $592 Million

At Marina Bay Sands in Singapore:

  • Adjusted Property EBITDA Increased 32.7% to $365 Million, With Margin Increasing 660 Basis Points to 52.1%
     
  • Hotel RevPAR Increased 10.3% to SGD 603 (US$422)
     

At Our Las Vegas Operating Properties:

  • Adjusted Property EBITDA Increased 40.2% to $122 Million, Our Strongest Quarterly Result Since 2008
     
  • Hotel RevPAR Increased 9.5% to $253
     

- The Company Paid Quarterly Dividends of $0.73 per Share

- The Company Repurchased $150 Million of Common Stock

Las Vegas Sands Corp. (NYSE: LVS), the world's leading developer and operator of convention-based Integrated Resorts, today reported financial results for the quarter ended March 31, 2017.

First Quarter Overview

Mr. Sheldon G. Adelson, chairman and chief executive officer, said, "We are pleased to have continued to execute our strategic objectives during the quarter and to have delivered a strong operating performance in each of our markets. The benefits of our convention-based Integrated Resort business model were clearly evident in our financial results, with adjusted property EBITDA increasing 24.9% compared to the first quarter of 2016, reaching $1.15 billion. We also continued to return excess capital to shareholders during the quarter.

"In Macao, the market overall continues to recover and has exhibited growth in each of the last three quarters, while the compelling attractions and entertainment offerings of our industry-leading Cotai Strip property portfolio, recently expanded by the addition of The Parisian Macao, allowed us to deliver visitation growth of 30% across our property portfolio and to increase our hotel occupancy levels by 440 basis points compared to the year ago quarter. Our market-leading critical mass of hotel, retail and entertainment offerings on the Cotai Strip allowed us to grow our mass gaming business by 17% and to expand our adjusted property EBITDA by 20.5% to $624 million.

"We have invested approximately $13 billion in Macao since 2002, while consistently contributing to Macao's diversification and appeal as a business and leisure tourism destination. We continue to lead the market not only in Integrated Resort development, but in the long-term and vital investment in the marketing of Macao as Asia's leading business and leisure tourism destination. We remain confident that our market-leading Cotai Strip portfolio of properties will continue to provide the economic benefits of diversification to Macao, help attract greater numbers of business and leisure travelers, and provide both Macao and our Company with a superior platform for future growth.

"Marina Bay Sands in Singapore continues to attract increasing numbers of business and leisure visitors from across the region and to deliver the economic benefits of our convention-based business model to Singapore. We are pleased to have established the property as a reference site for other cities and countries that are considering harnessing the power of the convention-based Integrated Resort business model. Marina Bay Sands' innovative programming, consistent mass gaming play, strength in non-gaming revenues and higher hold in VIP play compared to the same quarter last year contributed to an increase of 32.7% in adjusted property EBITDA, which reached $365 million for the quarter.

"At The Venetian Las Vegas and The Palazzo, including the Sands Expo and Convention Center, record convention and group meeting business and cost discipline enabled us to deliver 40.2% growth in adjusted property EBITDA compared to the same quarter last year. Adjusted property EBITDA of $122 million was our best quarterly result since 2008."

The company's recurring quarterly dividend remains the cornerstone of our program to return excess capital to shareholders, and the company paid a recurring quarterly dividend of $0.73 per common share during the quarter. The company announced that its next recurring quarterly dividend of $0.73 per common share will be paid on June 30, 2017, to Las Vegas Sands shareholders of record on June 22, 2017. The company also repurchased approximately $150 million of common stock (2.7 million shares at a weighted average price of $55.06) during the quarter ended March 31, 2017.

"Looking ahead we remain focused on the execution of our proven global growth strategy, which leverages the power of our unique convention-based Integrated Resort business model. We remain confident in our ability to bring the economic benefits of our proven business model to promising new markets around the world as they emerge and develop in the future."

Company-Wide Operating Results

Net revenue for the first quarter of 2017 increased 14.3% to $3.11 billion, compared to $2.72 billion in the first quarter of 2016. Net income increased 41.3% to $578 million in the first quarter of 2017, compared to $409 million in the year-ago quarter.

On a GAAP (accounting principles generally accepted in the United States of America) basis, operating income in the first quarter of 2017 increased 30.2% to $763 million, compared to $586 million in the first quarter of 2016. The increase in operating income was a result of stronger results across the company's Macao, Singapore and Las Vegas property portfolio, partially offset by higher depreciation and amortization expenses during the quarter due primarily to the opening of The Parisian Macao in September 2016. Consolidated adjusted property EBITDA (a non-GAAP measure) of $1.15 billion increased 24.9% in the first quarter of 2017, compared to the year-ago quarter. On a hold-normalized basis, adjusted property EBITDA was $1.14 billion in the first quarter of 2017, an increase of 9.5% from the prior-year quarter.

On a GAAP basis, net income attributable to Las Vegas Sands in the first quarter of 2017 increased 50.0% to $480 million, compared to $320 million in the first quarter of 2016, while diluted earnings per share in the first quarter of 2017 of $0.60 also represented an increase of 50.0% compared to the prior-year quarter. The increase in net income attributable to Las Vegas Sands reflected the increase in operating income described above, partially offset by increases in net income attributable to noncontrolling interests, interest expense and income tax expense.

Adjusted net income attributable to Las Vegas Sands (a non-GAAP measure) increased 40.5% to $527 million, or $0.66 per diluted share, compared to $375 million, or $0.47 per diluted share, in the first quarter of 2016.

Sands China Ltd. Consolidated Financial Results

On a GAAP basis, total net revenues for Sands China Ltd. (SCL) increased 15.3% to $1.88 billion in the first quarter of 2017, compared to $1.63 billion in the first quarter of 2016. Net income for SCL increased 11.9% to $349 million in the first quarter of 2017, compared to $312 million in the first quarter of 2016.

To view full financial release and corresponding tables please click the PDF icon or visit:
http://investor.sands.com/ir-home/press-releases/news-details/2017/Las-Vegas-Sands-Reports-First-Quarter-2017-Results/default.aspx​

About Las Vegas Sands

Las Vegas Sands (NYSE: LVS) is the world's leading developer and operator of Integrated Resorts. Our collection of Integrated Resorts in Asia and the United States feature state-of-the-art convention and exhibition facilities, premium accommodations, world-class gaming and entertainment, destination retail and dining including celebrity chef restaurants and many other amenities.

Our properties include The Venetian and The Palazzo resorts and Sands Expo Center in Las Vegas, Sands Bethlehem in Eastern Pennsylvania, and the iconic Marina Bay Sands in Singapore. Through majority ownership in Sands China Ltd. (HK: 1928), LVS owns a portfolio of properties on the Cotai Strip in Macao, including The Venetian Macao, The Plaza and Four Seasons Hotel Macao, Sands Cotai Central, and The Parisian Macao, as well as the Sands Macao on the Macao Peninsula.

LVS is dedicated to being a good corporate citizen, anchored by the core tenets of delivering a great working environment for more than 50,000 employees worldwide, driving impact through its Sands Cares corporate citizenship program and leading innovation with the company's award-winning Sands ECO360° global sustainability program. To learn more, please visit www.sands.com.

Contact: Investment Community: Daniel Briggs

(702) 414-1221

Contact: Media: Ron Reese

(702) 414-3607

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