Third Quarter 2026 Presentation

October 21, 2026

Investment Case:

• Global leader in Integrated Resort development and operation delivering industry-leading returns

• Largest scale operator in the most important markets with industry-leading revenues and margins

• Strong balance sheet and cash flow generation enable investments in both promising growth opportunities and robust program to return capital to shareholders

• Experienced leadership team dedicated to driving long-term shareholder value and maximizing shareholder returns

  Strategic Priorities:

• Creating unique and memorable hospitality and entertainment experiences

• Leveraging market-leading suite capacity in both Singapore and Macao to attract more high-value business

• Returning excess capital to shareholders through share repurchase and dividend programs

• Pursuing development opportunities in new jurisdictions

  We believe our market-leading assets coupled with our focus on delivering unique and memorable hospitality and entertainment experiences to our customers will drive growth and produce strong returns for our shareholders in the years ahead

FINANCIAL PERFORMANCE & RETURN OF CAPITAL

OPERATING PERFORMANCE

MARINA BAY SANDS

▪

▪

▪

▪

▪

The high end of the premium gaming segment was softer during the quarter

Marina Bay Sands Adjusted Property EBITDA decreased 20.6% to $590 million

- Lower hold on rolling play negatively impacted Adjusted Property EBITDA by $4 million

Mass win (including tables and slots) decreased 9% to $826 million

Rolling win decreased 13% to $382 million

Adjusted Property EBITDA margin decreased 610bps to 45.6%

1. Reflects LVS shares repurchased as a percentage of shares outstanding as of September 30, 2023. Note: all increases/decreases above reflect 3Q26 results compared to 3Q25, unless otherwise stated.

• $950 million of LVS stock repurchased in 3Q26

  • 20.97 million LVS shares repurchased at a weighted average price of $45.31

  • 627.0 million shares outstanding at quarter-end 3Q26 (down from 677.3 at quarter-end 3Q25)

• $193 million of dividends paid by LVS ($0.30 per share) in 3Q26

• $101 million of SCL stock purchased during the quarter, increasing LVS ownership of SCL to 75.56%

  LVS Adjusted Property EBITDA Select Quarterly Results

  ($ in US millions)

  LVS Adjusted Property EBITDA

  $1,414

  $1,421

  $1,344

  $1,119

  $1,119

  -$7

$1,500

$1,200

$900

$600

$300

$0

3Q25 4Q25 1Q26 2Q26 3Q26

1. These amounts present the illustrative impact if the current period Rolling Chip win percentage was 3.3% for Sands China. For Marina Bay Sands in 3Q25 - 3Q26 the amounts present the illustrative impact if the Rolling Chip win percentage was 4.2%, 3.9%, 3.6%, 4.2%, and 4.6%, respectively. These theoretical hold percentages on Rolling Chip play at Marina Bay Sands during each quarter were calculated utilizing smart table data. Expected hold impact calculations include the estimated commissions paid, discounts and other incentives rebated directly or indirectly to customers, gaming taxes and bad debt expense that would have been incurred or avoided.

• See slides 58 and 59 in the appendix for the presentation of the illustrative impact of hold in our rolling play in Singapore and Macao

• In 3Q26 hold on rolling play negatively impacted Adjusted Property EBITDA in Singapore by $4 million1 and positively impacted Adjusted Property EBITDA by $11 million1 in Macao

• In 3Q25 hold on rolling play positively impacted Adjusted Property EBITDA in Singapore by $43 million1 and positively impacted Adjusted Property EBITDA by $2 million1 in Macao

1. For Marina Bay Sands in 3Q25 and 3Q26 the amounts present the illustrative impact if the Rolling Chip win percentage was 4.2% and 4.6%, respectively. The theoretical hold percentages on Rolling Chip at MBS play during each quarter were calculated utilizing smart table data. For Sands China the amounts present the illustrative impact if the current period Rolling Chip win percentage was 3.3%. Expected hold impact calculations include the estimated commissions paid, discounts and other incentives rebated directly or indirectly to customers, gaming taxes and bad debt expense that would have been incurred or avoided.

   Marina Bay Sands Marina Bay Sands Market-leading Premium Suites and Service Offerings Drive Strong Financial Performance Adjusted Property EBITDA1

   • The high end of the premium gaming segment was softer

     during the quarter

     Financial results for the quarter ended September 30, 2026:

   • Adjusted Property EBITDA was $590 million, a decrease of 21% compared to 3Q25

     • Assuming expected hold in our rolling play, Adjusted Property EBITDA would have been $4 million2 higher

   • Adjusted Property EBITDA margin was 45.6%

     • Assuming expected hold in our rolling play, Adjusted Property EBITDA margin would have been 45.7%2

   • Mass gaming revenue (Non-Rolling tables and slots):

     • Mass gaming revenue decreased 9% to $826 million

     • Non-Rolling table win decreased 14% to $537 million

     • Slot win increased 3% to reach $289 million

   • Rolling volume decreased 7% to $8.4 billion

     • Rolling win: $382 million, hold percentage 4.53%

   • Occupancy: 95.8%

   • ADR: $1,038

   • Retail revenues: $70 million

($ in US millions)

$806

$743

$788

$689

$590

$1,000

$800

$600

$400

$200

$0

3Q25 4Q25 1Q26 2Q26 3Q26

($ in US millions)

$905

$951

$902

$886

$826

$630

$656

$625

$1,000

$750

$500

$250

$0

3Q25 4Q25 1Q26 2Q26 3Q26

Slot Machines Non-Rolling Tables

1. Due to the tiered gaming tax structure in Singapore, gaming tax rates at MBS increase from 8% to 12% on premium play when certain annual GGR thresholds are exceeded. The threshold was met in July in 2025 and in June in 2026.

2. In 3Q25 - 3Q26 the amounts present the illustrative impact if the Rolling Chip win percentage was 4.2%, 3.9%, 3.6%, 4.2%, and 4.6%, respectively. These theoretical hold percentages on Rolling Chip play during each

quarter were calculated utilizing smart table data. Expected hold impact calculations include the estimated commissions paid, discounts and other incentives rebated directly or indirectly to customers, gaming taxes and bad debt expense that would have been incurred or avoided.

MBS Mass Gaming Revenue (Tables & Slots)

$951

$905

$902 $886

$843 $826

$778

$746

$687

$668

$580

$584

$604

$549

$569

$477

$424

$390

$275

($ US in millions)

$1,000

$950

$900

$850

$800

$750

$700

$650

$600

$550

$500

$450

$400

$350

$300

$250

$200

1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26

Mass Win (Tables & Slots)

Note: Covid-19 related travel restrictions were put in place in Singapore in first quarter of 2020. Beginning in the second quarter of 2022, most of those restrictions were reduced or removed.

Marina Bay Sands introduction of smart tables:

• Marina Bay Sands (MBS) has rolled out smart table technology across its baccarat gaming areas

• This smart table system uses a combination of RFID technology and table-top cameras to capture data on placed bets

• One benefit of this digital data collection includes the ability to provide a theoretical hold percentage based on the expected outcome for different wager types and the distribution of specific wagers during each quarterly period

  Update:

• Smart table technology has been installed on all baccarat Rolling Chip tables at MBS since the third quarter of 2024

• We introduced a new disclosure methodology for the calculation of expected hold impact on our results at MBS in 3Q25, including four prior quarters using the smart table data

• The specific wagers made by players in each quarter will determine the theoretical hold, and as a result, the theoretical hold will vary from quarter to quarter

• Since 3Q24, the theoretical hold rates calculated based upon data captured by smart table technology have been as follows:

  4.6%

  4.1%

  4.2%

  4.2%

  3.7%

  3.8%

  3.9%

  3.5%

  3.6%

  5.0%

  4.5%

  4.0%

  3.5%

  3.0%

  2.5%

  ($ in US billions)

  3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26

  Rolling Volume $6.6 $8.1 $8.0 $8.9 $9.1 $13.4 $18.0 $9.3 $8.4

• SCL continues to focus on enhancing service levels, improving the customer experience and investing in our product

  Adjusted Property EBITDA

• Market share of mass revenue in the Macao market reached 26.1%, our strongest performance since 4Q23

• Gaming volumes reflected growth in all segments: Rolling table volumes +31% YoY, Non-Rolling table volumes +11% YoY, Slots/ETGs +26% YoY

  Financial results for the quarter ended September 30, 2026:

• Adjusted Property EBITDA decreased 12% to $529 million

  • Assuming expected hold in our rolling play, Adjusted Property EBITDA would have been $11 million1 lower

• Adjusted Property EBITDA margin was 27.3%

  • Assuming expected hold in our rolling play, Adjusted Property EBITDA margin would have been 27.0%1

• Gaming Revenues:

  • Non-Rolling table win decreased 2% to $1.47 billion

  • Slot win increased 18% to reach $223 million

  • Rolling win increased 41% to $209 million, hold percentage was 3.64% (an increase of 25 bps)

• Occupancy: 97.9%; ADR: $231

• Retail revenues: $131 million2

($ in US millions)

$601

$608

$633

$529

$430

$800

$600

$400

$200

$0

3Q25 4Q25 1Q26 2Q26 3Q26

Mass Gaming Revenue

($ in US millions)

$1,689

$189

$1,738

$1,781

$1,688

$222

$1,691

$196

$217

$223

$1,500

$1,542

$1,564

$1,466

$1,468

$2,000

$1,500

$1,000

$500

$0

3Q25 4Q25 1Q26 2Q26 3Q26

Slot Machines Non-Rolling Tables

1. These amounts present the illustrative impact if the current period Rolling Chip win percentage was 3.3%. Expected hold impact calculations include the estimated commissions paid, discounts and other incentives rebated directly or indirectly to customers, gaming taxes and bad debt expense that would have been incurred or avoided.

2. Excludes results from retail outlets at Sands Macao.

   Sands China Financial Performance Quarter Ended September 30, 2026 v. September 30, 2025

   ($ in US millions) Net Revenue Adj. Property EBITDA Adj. Property EBITDA Margin

   Growth Growth Growth

   	3Q25	3Q26	$	%	3Q25	3Q26	$	%	3Q25	3Q26	bps
   The Venetian Macao	$692	$649	(43)	-6.2%	$242	$205	($37)	-15.3%	35.0%	31.6%	(340)
   The Londoner Macao	686	685	(1)	-0.1%	219	178	(41)	-18.7%	31.9%	26.0%	(590)
   Four Seasons/Plaza Casino	206	238	32	15.5%	74	85	11	14.9%	35.9%	35.7%	(20)
   The Parisian Macao	218	231	13	6.0%	53	46	(7)	-13.2%	24.3%	19.9%	(440)
   Sands Macao	72	99	27	37.5%	8	14	6	75.0%	11.1%	14.1%	300
   Ferry Operations and Other	32	38	6	18.8%	5	1	(4)	-80.0%	15.6%	2.6%	(1,300)
   Total Macao Portfolio	1,906	1,940	34	1.8%	601	529	(72)	-12.0%	31.5%	27.3%	(420)
   Total Macao Portfolio Margins Assuming Expected Hold in Our Rolling Play1					31.5%					27.0%	(450)

   • Sands China continues to invest in enhanced service levels and improving the customer experience throughout the property portfolio

   • Sands China delivered 26.1% share of Macao mass market revenue, its highest share since 4Q23

   • Additional investment in premium suites and other hospitality offerings will be completed throughout the property portfolio through 2028

   • SCL property portfolio increased gaming volumes across all gaming segments:

     • Rolling table volumes +31%

     • Non-Rolling table volumes +11%

     • Slots/ETGs +26%

1. These amounts present the illustrative impact if the current period Rolling Chip win percentage was 3.3%. Expected hold impact calculations include the estimated commissions paid, discounts and other incentives rebated

directly or indirectly to customers, gaming taxes and bad debt expense that would have been incurred or avoided.

($ in US millions)

($ in US millions)

$900 $900

$600 $600

$300 $300

$0

Avg. Tables

$0

Avg. Tables

Note: Sands China's base mass and premium mass table revenues as presented above are based on the geographic position of Non-Rolling (mass) tables on the gaming floor. Some high-end mass play occurs in the base mass geographic area.

($ in US millions)

26.1%

$148

25.6%

25.8%

24.5%

24.9%

24.9%

25.3% 25.3%

25.0%

$383

24.3%

23.6%

23.8%

23.6%

24.0%

$284

21.5% $210

$1,559

$1,738

$1,781

$1,689

$1,688

$1,691

$1,580

$1,583

$1,531

26.6%

$1,505

$1,529

$1,445

$1,447

$1,321

$1,029

27.7% 27.9%

27.0%

$2,000 40%

$1,500 35%

$1,000 30%

$500 25%

$0

1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26

SCL Mass Win SCL Mass Market Share %

20%

1. Market -wide mass GGR for all periods through 2Q26 is defined as mass win (tables and slots) as reported by the casino operators in their public filings (does not include revenue from Galaxy's City Clubs business). All figures reported in Hong Kong dollars have been converted to USD using a 7.75 exchange rate.

2. Market-wide mass GGR for 3Q26 is estimated by LVS management based on DICJ reported data and LVS management's estimated differences between DICJ reporting and win reported by operators in public filings. Note: Covid-19 related travel restrictions were put in place in China in the first quarter of 2020. In early 2023, most of those restrictions were reduced or removed.

Source: Public company filings, Macao DSEC, Macao DICJ.

29.9%

27.4%

27.8% 28.8% 28.1%

29.3%

23.5%

1

5.5%

6.7%

6.3%

4.4%

5.4%

4.0%

5.5%

16.4%

14.4%

15.7%

15.9%

14.7%

16.4%

14.7%

11.9%

15.3%

16.5%

15.2%

13.0%

13.6%

15.5%

13.8%

15.4%

12.5%

16.2%

12.9%

12.4%

14.8%

12.9%

23.5%

21.7% 22.3%

23.0%

21.2%

26.1%

22.3%

24.7%

35.0%

4.1%

13.5%

12.5%

33.5%

4.6%

14.5%

12.8%

30.1%

5.5%

15.9%

12.3%

29.1%

5.8%

16.3%

12.9%

31.1%

7.1%

13.6%

13.9%

100%

80%

60%

40%

20%

0%

1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26

SCL SJM MGM China Melco

Wynn Macau

Galaxy

1. Had we held as expected in our rolling play, SCL's Adjusted Property EBITDA would have been $87 million higher in 2Q26.

Note: Covid-19 related travel restrictions were put in place in China in the first quarter of 2020. In early 2023, most of those restrictions were reduced or removed. Source: Public company filings (does not include Adj. Property EBITDA from Galaxy's City Clubs business).

1. Excludes restricted cash.

2. Denotes cash plus total revolver availability. Does not include $4.57 billion available under a delayed draw term loan facility that may be used to finance costs related to the Marina Bay Sands Expansion Project.

3. Includes the impact of $137 million land premium payment made in 1Q26, related to the Marina Bay Sands Expansion, which is recorded under US GAAP as a reduction in cash flow from operations.

4. Debt balances shown here are net of deferred financing costs and original issue discounts of $135 million and exclude finance leases.

5. Excludes Marina Bay Sands' Delayed Draw Facility balance of $1.27 billion (net of deferred financing costs and original issue discount of $22 million).

Total Capital Returned to LVS Shareholders 3Q23 - 3Q26

Total at 3Q26

1. LVS share repurchases were suspended at the onset of the Covid-19 pandemic and were reinstated in 4Q23.

2. A quarterly dividend of $0.20 per share was initiated in 3Q23, in 1Q25 the dividend was increased to $0.25 per share, and in 1Q26 the dividend was increased to $0.30 per share.

3. Reflects basic shares outstanding at quarter end.

4. Reflects LVS shares repurchased as a percentage of shares outstanding as of September 30, 2023.

   Capital Expenditures Expectations

   Investments to enhance our industry-leading portfolio of Integrated Resorts in Singapore and Macao

   • Investment in high-quality assets drives revenue growth

   • Scale and quality of assets create competitive advantage

($ in US millions)

LVS Capex Expectations

$420

$2,016

$1,950

$1,567

$54

$1,487

$1,017

$828

$651

$196

$157

$426

$500

$500

$500

$200

$88

$475

$750

$750

$450

$200

$319

$2,600

$298

$3,000

$2,500

$2,000

$1,500

$1,000

$500

$0

2021A 2022A 2023A 2024A 2025A 2026E 2027E 2028E

SCL1

Marina Bay Sands

Marina Bay Sands Expansion Project2,3 Marina Bay Sands Land Premium

Maintenance and Other

1. Includes SCL capital expenditure commitment related to new concession, through 2032 (~$2.7 billion), and additional capital expenditure commitments (~$0.7 billion) at a Macao market GGR of ~$22.5 billion.

2. Total capital expenditures presented for the MBS Expansion Project in Singapore exclude financing fees, interest costs, and pre-opening expenses.

3. While the Company is contractually obligated to complete the MBS Expansion Project by July 2029, the current estimate is that construction will be complete in June 2030 with an anticipated opening date in January 2031. Any extension of the completion date beyond July 2029 is subject to the approval of the Singapore government.

   Appendices

   • M a r i n a B a y S a n d s R e c e n t l y C o m p l e t e d I n v e s t m e n t s a n d E x p a n s i o n P r o j e c t U p d a t e

   • M a c a o M a r k e t a n d S a n d s C h i n a A d d i t i o n a l I n f o r m a t i o n

   • E n v i r o n m e n t a l , S o c i a l a n d G o v e r n a n c e ( E S G )

   • R e t a i l M a l l O p e r a t i o n s a n d S u p p l e m e n t a l I n f o r m a t i o n

   • I l l u s t r a t i v e I m p a c t o f H o l d i n O u r R o l l i n g P l a y

   • R e c o n c i l i a t i o n o f N o n - G A A P F i n a n c i a l M e a s u r e s a n d O t h e r F i n a n c i a l I n f o r m a t i o n

2 5 - 3 2

3 4 - 4 8

5 0 - 5 2

5 4 - 5 6

5 8 - 5 9

6 1 - 6 9

Investments and Expansion Project Update

• Renovation and Refurbishment Program to elevate and enhance room and suite product and conduct refurbishments to increase Singapore's business and leisure tourism appeal and target our service offerings to the region's most valuable and discerning visitors seeking immersive travel experiences

• The resort now features:

  • 1,844 keys including 775 suites

  • The Paiza collection with dedicated arrival and departure experiences

  • Enhancements to premium gaming areas including Tower gaming

  • Enhancements to dining, entertainment and retail offerings

($ in US billions)

Original Land Premium (paid 2019) $1.0

1. Denotes $985 million of additional land premium, $848 million of which the Company paid in April 2025, and the remaining $137 million of which was paid in March 2026.

2. Soft construction costs and other includes design and development.

3. Development cost is estimated and subject to substantial revision based on project schedule and other factors.

1. While the Company is contractually obligated to complete the MBS Expansion Project by July 2029, the current estimate is that construction will be complete in June 2030 with an anticipated opening date in January 2031. Any extension of the completion date beyond July 2029 is subject to the approval of the Singapore government.

($ in US millions)

MBS Expansion Project Capital Expenditure Expectations

$1,850

$1,200

$1,150

$1,065

$587

$500

$350

$217

$200

$2,000

$1,500

$1,000

$500

$0

2024 and Prior 2025A 2026E 2027E 2028E 2029E 2030E

Capital expenditures

Land Premium

1. While the Company is contractually obligated to complete the MBS Expansion Project by July 2029, the current estimate is that construction will be complete in June 2030 with an anticipated opening date in January 2031. Any extension of the completion date beyond July 2029 is subject to the approval of the Singapore government.

2. Total expenditures presented exclude financing fees and interest costs of ~$1.0 billion and pre-opening expenses of $300 million.

3. Development cost is estimated and subject to substantial revision based on project schedule and other factors.

   Marina Bay Sands Expansion Project

   Contributing to Singapore's Economic Growth and Enhancing Singapore's Tourism Appeal

   Marina Bay Sands Original Integrated Resort

   • Contributed meaningfully to economic growth and to Singapore's appeal as an exciting global city

   • Delivered iconic architecture to Singapore's central business district area

   • MBS is an important contributor to the MICE business in Singapore creating thousands of jobs for Singaporeans (MBS employed

     >10,000 FTEs in each of the last four years)

   • Created procurement and sourcing opportunities for Singapore-based small and medium enterprises (SMEs)

     Marina Bay Sands Expansion Project

   • Further enhance MBS' status as an iconic architectural landmark

   • Provide suite product and customer experiences that are designed to be the finest and most exclusive in the world

   • Introduce a 'state-of-the-art' arena designed for live musical performances that can attract the highest-caliber global entertainment events and artists to Singapore

   • Extend the success of Singapore as a MICE destination

   • Ensure MBS is positioned to grow its economic, employment, SME support and tourism destination contributions to Singapore in the decades ahead

($ in US millions)

-3%

$6,873 $6,891

$6,673

$6,758

$6,503

$6,473

$6,171

$6,139

$6,292

$5,936

$6,051

$6,141

$5,350

$4,730

$3,715

$1,779

$1,157

$890

$621

$8,000

$7,000

$6,000

$5,000

$4,000

$3,000

$2,000

$1,000

$0

1Q22 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 3Q26

1. Market -wide mass GGR for all periods through 2Q26 is defined as mass win (tables and slots) as reported by the casino operators in their public filings (does not include revenue from Galaxy's City Clubs business). All figures reported in Hong Kong dollars have been converted to USD using a 7.75 exchange rate.

2. Market-wide mass GGR for 3Q26 is estimated by LVS management based on DICJ reported data and LVS management's estimated differences between DICJ reporting and win reported by operators in public filings. Source: Public company filings, Macao DICJ.

($ in US millions) Mass Win (Tables and Slots)1

1. Market -wide mass GGR for all periods through 2Q26 is defined as mass win (tables and slots) as reported by the casino operators in their public filings (does not include revenue from Galaxy's City Clubs business). All figures reported in Hong Kong dollars have been converted to USD using a 7.75 exchange rate.

2. Market-wide mass GGR for 3Q26 is estimated by LVS management based on DICJ reported data and LVS management's estimated differences between DICJ reporting and win reported by operators in public filings. Source: Public company filings, Macao DICJ.

($ in US millions) VIP Win1

1. Market -wide VIP GGR for all periods through 2Q26 is defined as rolling win as reported by the casino operators in their public filings (does not include revenue from Galaxy's City Clubs business). All figures reported in Hong Kong dollars have been converted to USD using a 7.75 exchange rate.

2. Market-wide VIP GGR for 3Q26 is estimated by LVS management based on DICJ reported data and LVS management's estimated differences between DICJ reporting and win reported by operators in public filings. Source: Public company filings, Macao DICJ.

(millions)

1

July and August Visitation

2026 v. 2025 2026 v. 2019

2026 2025 Variance Growth 2019 Variance % of 2019

1. September visitation is not yet available. Source: Macao DSEC statistical database.

July and August Visitation Population GDP Per Penetration

1. Visitation figures shown exclude visitation from Hong Kong SAR.

2. September visitation is not yet available.

Note: Penetration rates assume that each visitor to Macao is a unique visitor. GDP per Capita defined as 2025 GDP divided by 2025 population (the latest provincial and national data available). Source: Macao DSEC statistical database, National Bureau of Statistics of China.

Macao Airport Monthly Passenger Volume in 3Q26 was ~74% of 3Q19 Volume

(000's)

2019

2023 - 2026

% of 2019

50%

64% 67%

32% 1,196

757

1,605 1,593

1,779 1,871

2,022 2,117

1,898 1,838 1,774 1,887

2,013

1,799 1,931

75% 74%

74% 75%

79%

80% 80%

77%

81%

85%

91%

2,518

2,337 2,384

2,372

3,500 100%

3,000

2,500

2,000

1,500

1,000

500

80%

60%

40%

20%

0 0%

1Q19 2Q19 3Q19 4Q19 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 4Q24 1Q25 2Q25 3Q25 4Q25 1Q26 2Q26 2Q26

Note: Covid-19 related travel restrictions were put in place in China in the first quarter of 2020. In early 2023, most of those restrictions were reduced or removed. Source: CAM/Macau International Airport Co., Ltd.

($ in US millions) ($ in US millions)

$1,800 $250

$1,500

$200

$1,200

$150

$900

$100

$600

$300

$50

$0

Avg. Tables

3Q25 4Q25 1Q26 2Q26 3Q26

$0

Avg. Slots

3Q25 4Q25 1Q26 2Q26 3Q26

1. Excludes rolling play.

2. Includes slots and electronic table games.