Cover and table of contents

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Cover and table of contents

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549


Form 10-Q


☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2022

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from to

Commission file number 001-32373


LAS VEGAS SANDS CORP.

(Exact name of registration as specified in its charter)


Nevada27-0099920
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
3883 Howard Hughes Parkway, Suite 550
Las Vegas,Nevada89169
(Address of principal executive offices)(Zip Code)

(702) 923-9000

(Registrant’s telephone number, including area code)


Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered
Common Stock ($0.001 par value)LVSNew York Stock Exchange

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large Accelerated Filer☒Accelerated Filer☐
Non-accelerated Filer☐Smaller Reporting Company☐
Emerging Growth Company☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

Indicate the number of shares outstanding of each of the Registrant’s classes of common stock, as of the latest practicable date.

ClassOutstanding at April 26, 2022
Common Stock ($0.001 par value)764,109,163 shares

LAS VEGAS SANDS CORP. AND SUBSIDIARIES

Table of Contents

PART I FINANCIAL INFORMATION
Item 1.Financial Statements (unaudited)3
Condensed Consolidated Balance Sheets at March 31, 2022 and December 31, 20213
Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2022 and 20214
Condensed Consolidated Statements of Comprehensive Income (Loss) for the Three Months Ended March 31, 2022 and 20215
Condensed Consolidated Statements of Equity for the Three Months Ended March 31, 2022 and 20216
Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2022 and 20217
Notes to Condensed Consolidated Financial Statements8
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations27
Item 3.Quantitative and Qualitative Disclosures about Market Risk46
Item 4.Controls and Procedures46
PART II OTHER INFORMATION
Item 1.Legal Proceedings48
Item 1A.Risk Factors48
Item 6.Exhibits49
Signatures50

PART I FINANCIAL INFORMATION

Next: Item 1. FINANCIAL STATEMENTS