Las Vegas Sands Restarts Stock Buybacks After Three-Year Hiatus
- Shares climb after Macau revenue surges nearly sevenfold
- Company also initiates a $2 billion stock buyback plan
Visitors during the opening at the Londoner Macao casino resort, operated Las Vegas Sands Corp., in Macau, China.
Photographer: Eduardo Leal/BloombergThis article is for subscribers only.
Las Vegas Sands Corp. shares jumped after the company authorized its first share buyback program since 2020, signaling management’s confidence in the business after years of pandemic-related hardship.
After reinstating the dividend last quarter, the board of directors allocated $2 billion to fund share repurchases through 2025, the company said in a statement Wednesday.