Las Vegas Sands превысила 75% владения Sands China

Asia Pacific Gaming Las Vegas Sands Pushes Sands China Ownership Beyond 75% Posted on: September 2, 2026, 01:26h. Last updated on: September 3, 2026, 05:01h. Las Vegas Sands (NYSE: LVS) has pushed its stake in Sands China past the 75% mark, acquiring additional equity in the Macau operator through small market purchases. In a Tuesday (Sept. 1) filing with the Hong Kong Stock Exchange—the home bourse for Sands China—the companies revealed that parent firm Las Vegas Sands bought 1.62 million shares on the open market through an indirect, wholly owned unit. In dollar terms, it was a small transaction valued at $2.85 million, but it slightly increased Sands’ position in the Macau concessionaire to 75.01% from 74.8%. Las Vegas-based Sands previously said it would look to periodically increase its stake in the Macau unit, which runs five integrated resorts in the lone Chinese territory where casino gaming is legal. Why the Increased Sands China Stake Matters On the surface, Las Vegas Sands buying less than $3 million worth of Sands China equity isn’t a “big deal.” However, the parent company moving above a 75% interest in the Macau operator, albeit just barely, is significant from a regulatory perspective. The Hong Kong Stock Exchange requires member firms to freely float 25% of their shares, but there are exceptions provided that companies not meeting that 25% mandate move from what’s known as the “Initial Prescribed Threshold” to the “Alternative Threshold.” Sands China informed investors it did just that. Sands China’s quintet of Macau venues are the Londoner, the Parisian, the Plaza, Sands Macau and the Venetian, which is one of the most profitable casinos in the world. More Las Vegas Sands Financial Tidbits Moody’s Investors Service recently affirmed Las Vegas Sands with a ‘Baa3’ senior unsecured rating and a ‘stable’ outlook, but the ratings agency notes that those marks could be pressured if Sands pursues large-scale development projects that are heavily financed with debt. “Continued dividends, share repurchases and the use of secured debt to fund developments also constrain the credit profile,” according to the research firm. Citing the $8 billion expansion effort at Marina Bay Sands in Singapore, Moody’s sees Sands’ leverage remaining elevated at least 3.4x over the next 12 to 18 months.