Las Vegas Sands Corp. (LVS) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day, ladies and gentlemen, and welcome to the SANS third quarter 2025 earnings call. At this time, all participants have been placed on a listen-only mode, but we will open the floor for your questions and comments following the presentation. It is now my pleasure to turn the floor over to Mr. Daniel Briggs, Senior Vice President of Investor Relations at SANS. Sir, the floor is yours. Thank you, Paul. I'm going to call Sarah Roth, Goldstein Chairman and CEO, Patrick Dumont. executive vice chairman of Tench China and Grant Shum, CEO and president of Tench China and EDP of our Asia operation. Today's conference call will contain forward-looking statements. We will be making those statements under the safe harbor provision of federal securities law. The language on forward-looking statements included in our press release also applies to our comments made on the call today. The company's actual results may differ materially from the results reflected in those forward-looking statements. In addition, We'll discuss non-GAAP measures. Reconciliations to the most comparable GAAP financial measure are included in our press release. We have posted an earnings presentation on our website. We will refer to that presentation during the call. Finally, for the Q&A session, we ask those with interest to please post one question and one follow-up question so we might allow everyone with interest the opportunity to participate. The presentation is being recorded. I'll now turn the call over to Thank you, Dan. Good afternoon. Thanks for joining us. Marina Bay Sands delivering EBITDA of $743 million. We had forecasted MBS could do $2.5 billion annually. It turns out we were too conservative. We should easily exceed that figure in 2025. MBS is currently over $2.1 billion EBITDA this...