🏗️ Property

The Venetian

2 stories · First covered Apr 23, 2026 · Latest Apr 29
Related: EBITDA margin compression 2 Macau hotel market 2 VIP Gaming 1 Sands China 1 Capital expenditures 1 Marina Bay Sands 1 Promotional spending 1 Patrick Dumont 1 Singapore hotel market 1 The Londoner 1 Mass-market gaming 1 Las Vegas Sands Corporation 1
Owns Las Vegas Sands Corporation
Owns Sands China
The Venetian Coverage
A Pension Fund Sold $1.3M in Sands Stock. Nobody Should Care. Here's Why I'm Writing About It Anyway.
Transactions Primary
Apr 29

A Pension Fund Sold $1.3M in Sands Stock. Nobody Should Care. Here's Why I'm Writing About It Anyway.

Arizona's state pension trimmed its Las Vegas Sands position by 19% last quarter, and the filing landed like it was news. It wasn't. But what's happening underneath LVS right now actually is worth decomposing.

JC
Jordan Chen 2 min read · Apr 29
Sands China's Net Income Jumped 45%. The Stock Dropped. Check Again.
REITs
Apr 23

Sands China's Net Income Jumped 45%. The Stock Dropped. Check Again.

Sands China posted $294 million in Q1 net income and 18.3% EBITDA growth, and the market responded by selling. The gap between the earnings report and the stock price tells you what investors actually think about where Macau's recovery ceiling is.

JC
Jordan Chen 2 min read · Apr 23