{"id":133314,"date":"2020-04-16T23:23:19","date_gmt":"2020-04-17T06:23:19","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=133314"},"modified":"2020-04-17T11:10:48","modified_gmt":"2020-04-17T18:10:48","slug":"las-vegas-sands-dividend-suspended-due-to-coronavirus","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/","title":{"rendered":"Las Vegas Sands Dividend Damned by Coronavirus, Adelson Says Balance Sheet Is Strong"},"content":{"rendered":"

Las Vegas Sands (NYSE:LVS), the largest US gaming company by market value, is suspending its dividend, citing the adverse impact the coronavirus outbreak is having on integrated resort operations.<\/p>\n

\"Sands
Las Vegas Sand is suspending its dividend, but Chairman Sheldon Adelson promises the issue will be revisited. (Image: CNBC)<\/figcaption><\/figure>\n

The Venetian and Palazzo operator is the second domestic gaming company to halt its payout, following Boyd Gaming (NYSE:BYD) in doing so. But the LVS move could touch off a firestorm of negative dividend action in the industry, as analysts are speculating<\/a> rivals MGM Resorts International (NYSE:MGM) and Wynn Resorts (NASDAQ:WYNN) could follow suit.<\/p>\n

I know that the dividend is important to all our shareholders, as it is to me,\u201d said LVS Chairman and CEO Sheldon Adelson in a statement. \u201cI am known for the phrase, ‘yay dividends!’, and I assure you that it is still my mantra. But a strong balance sheet is also a vital and necessary component to realizing stockholder value in the decades ahead.\u201d<\/p><\/blockquote>\n

News of the payout suspension comes less than three months after the owner of five Macau integrated resorts boosted its dividend<\/a>, marking the eighth consecutive year in which that happened. At the Thursday, April 16 close, Sands stock yielded 6.88 percent.<\/p>\n

Highlighting the Balance Sheet<\/h2>\n

While Adelson, who said he hasn’t seen anything like the COVID-19 pandemic in his seven decades in business, didn’t offer specific numbers, he noted the strength of his company’s balance sheet. At the end of last year, the Marina Bay Sands (MBS) operator had $4.23 billion in cash on hand, and is widely viewed as one of the sturdiest companies in the industry<\/a>.<\/p>\n

\u201cWe are fortunate that our financial strength will allow us to continue to execute our previously announced capital expenditure programs in both Macao and Singapore,\u201d said Adelson.<\/p>\n

\n

LVS is planning to spend $2.2 billion in Macau, a market that has been punished by COVID-19. Singapore is home to MBS. In the fourth quarter of 2019, Macau and Singapore accounted for $811 million and $457 million, respectively, of LVS’s $1.39 billion in adjusted property earnings before interest, taxes, depreciation and amortization (EBITDA).<\/p>\n<\/div>\n

Based on its 742.82 million shares outstanding and its annual payout of $3.16 a share, LVS would save $2.34 billion if it goes 12 months without delivering a dividend. Adelson and his wife, Miriam, own nearly 397 million of those shares.<\/strong><\/p>\n

Safety Net Gone<\/h2>\n

Without the dividend, LVS investors are now solely dependent<\/a> on share price appreciation to drive returns, which could be a dicey prospect at a time when MBS, Palazzo, and Venetian are temporarily shuttered, and Macau revenue and visits are slumping.<\/p>\n

Adelson said suspending the payout allows LVS to pursue strategic opportunities and that the issue will be revisited as soon as is practical.<\/p>\n

\u201cI commit to my fellow shareholders that we will revisit the suspension of the dividend at the earliest reasonable opportunity,\u201d he said.<\/strong><\/p>\n

LVS initially started paying a dividend in 2012 and it had more than tripled since prior to the suspension announcement.<\/p>\n","protected":false},"excerpt":{"rendered":"

Las Vegas Sands (NYSE:LVS), the largest US gaming company by market value, is suspending its dividend, citing the adverse impact the coronavirus outbreak is having on integrated resort operations. The Venetian and Palazzo operator is the second domestic gaming company to halt its payout, following Boyd Gaming (NYSE:BYD) in doing so. But the LVS move […]<\/p>\n","protected":false},"author":46,"featured_media":133317,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10],"tags":[],"acf":[],"yoast_head":"\nLas Vegas Sands Dividend Suspended Due to Coronavirus<\/title>\n<meta name=\"description\" content=\"Las Vegas Sands is suspending its dividend due to the impact of COVID-19, but CEO Sheldon Adelson said the balance sheet is sturdy.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Las Vegas Sands Dividend Suspended Due to Coronavirus\" \/>\n<meta property=\"og:description\" content=\"Las Vegas Sands is suspending its dividend due to the impact of COVID-19, but CEO Sheldon Adelson said the balance sheet is sturdy.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2020-04-17T06:23:19+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-17T18:10:48+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/04\/adelson.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"2000\" \/>\n\t<meta property=\"og:image:height\" content=\"1333\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/\",\"url\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/\",\"name\":\"Las Vegas Sands Dividend Suspended Due to Coronavirus\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/04\/adelson.jpg\",\"datePublished\":\"2020-04-17T06:23:19+00:00\",\"dateModified\":\"2020-04-17T18:10:48+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Las Vegas Sands is suspending its dividend due to the impact of COVID-19, but CEO Sheldon Adelson said the balance sheet is sturdy.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/04\/adelson.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/04\/adelson.jpg\",\"width\":2000,\"height\":1333,\"caption\":\"Las Vegas Sand is suspending its dividend, but Chairman Sheldon Adelson promises the issue will be revisited. (Image: CNBC)\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"News\",\"item\":\"https:\/\/www.casino.org\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Financial\",\"item\":\"https:\/\/www.casino.org\/news\/financial\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Las Vegas Sands Dividend Damned by Coronavirus, Adelson Says Balance Sheet Is Strong\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.casino.org\/news\/#website\",\"url\":\"https:\/\/www.casino.org\/news\/\",\"name\":\"Casino.org\",\"description\":\"Latest Casino and Gaming News\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.casino.org\/news\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\",\"name\":\"Todd Shriber\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png\",\"caption\":\"Todd Shriber\"},\"description\":\"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.\",\"sameAs\":[\"https:\/\/muckrack.com\/todd-shriber\",\"https:\/\/www.linkedin.com\/in\/toddshriber\/\",\"https:\/\/x.com\/etfgodfather\"],\"url\":\"https:\/\/www.casino.org\/news\/author\/todd-shriber\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Las Vegas Sands Dividend Suspended Due to Coronavirus","description":"Las Vegas Sands is suspending its dividend due to the impact of COVID-19, but CEO Sheldon Adelson said the balance sheet is sturdy.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/","og_locale":"en_US","og_type":"article","og_title":"Las Vegas Sands Dividend Suspended Due to Coronavirus","og_description":"Las Vegas Sands is suspending its dividend due to the impact of COVID-19, but CEO Sheldon Adelson said the balance sheet is sturdy.","og_url":"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/","og_site_name":"Casino.org","article_publisher":"https:\/\/www.facebook.com\/Casino.OrgNews","article_published_time":"2020-04-17T06:23:19+00:00","article_modified_time":"2020-04-17T18:10:48+00:00","og_image":[{"width":2000,"height":1333,"url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/04\/adelson.jpg","type":"image\/jpeg"}],"author":"Todd Shriber","twitter_card":"summary_large_image","twitter_creator":"@etfgodfather","twitter_site":"@Casino_Org","twitter_misc":{"Written by":"Todd Shriber","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/","url":"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/","name":"Las Vegas Sands Dividend Suspended Due to Coronavirus","isPartOf":{"@id":"https:\/\/www.casino.org\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/#primaryimage"},"image":{"@id":"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/#primaryimage"},"thumbnailUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/04\/adelson.jpg","datePublished":"2020-04-17T06:23:19+00:00","dateModified":"2020-04-17T18:10:48+00:00","author":{"@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85"},"description":"Las Vegas Sands is suspending its dividend due to the impact of COVID-19, but CEO Sheldon Adelson said the balance sheet is sturdy.","breadcrumb":{"@id":"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/#primaryimage","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/04\/adelson.jpg","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2020\/04\/adelson.jpg","width":2000,"height":1333,"caption":"Las Vegas Sand is suspending its dividend, but Chairman Sheldon Adelson promises the issue will be revisited. (Image: CNBC)"},{"@type":"BreadcrumbList","@id":"https:\/\/www.casino.org\/news\/las-vegas-sands-dividend-suspended-due-to-coronavirus\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"News","item":"https:\/\/www.casino.org\/news\/"},{"@type":"ListItem","position":2,"name":"Financial","item":"https:\/\/www.casino.org\/news\/financial\/"},{"@type":"ListItem","position":3,"name":"Las Vegas Sands Dividend Damned by Coronavirus, Adelson Says Balance Sheet Is Strong"}]},{"@type":"WebSite","@id":"https:\/\/www.casino.org\/news\/#website","url":"https:\/\/www.casino.org\/news\/","name":"Casino.org","description":"Latest Casino and Gaming News","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.casino.org\/news\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85","name":"Todd Shriber","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.casino.org\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","contentUrl":"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2023\/03\/cropped-11-96x96.png","caption":"Todd Shriber"},"description":"Todd Shriber is a senior news reporter covering gaming financials, casino business, stocks, and mergers and acquisitions for Casino.org. Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. Contact Todd at todd.shriber@casino.org.","sameAs":["https:\/\/muckrack.com\/todd-shriber","https:\/\/www.linkedin.com\/in\/toddshriber\/","https:\/\/x.com\/etfgodfather"],"url":"https:\/\/www.casino.org\/news\/author\/todd-shriber\/"}]}},"_links":{"self":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/133314"}],"collection":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/users\/46"}],"replies":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/comments?post=133314"}],"version-history":[{"count":0,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/posts\/133314\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media\/133317"}],"wp:attachment":[{"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/media?parent=133314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/categories?post=133314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.casino.org\/news\/wp-json\/wp\/v2\/tags?post=133314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}