The document is Las Vegas Sands' 1Q15 earnings call presentation. It discusses financial results for the quarter, including a decrease in net revenue and adjusted property EBITDA. It highlights declines in Macao gaming revenue, especially in VIP and premium mass segments, while Singapore saw growth in mass gaming and retail. The presentation emphasizes the company's commitment to maximizing shareholder returns through continued growth, increasing recurring dividends, and stock repurchases totaling nearly $10.5 billion returned to shareholders over the last 13 quarters.

1. The Venetian Macao Marina Bay Sands, Singapore
Sands Macao Four Seasons Macao Sands Bethlehem The Venetian Las Vegas The Palazzo Las Vegas
1Q15 Earnings Call Presentation
April 22, 2015
The Parisian MacaoSands Cotai Central, Macao

2. This presentation contains forward-looking statements that are made pursuant to the
Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Forward-
looking statements involve a number of risks, uncertainties or other factors beyond the
company’s control, which may cause material differences in actual results, performance
or other expectations. These factors include, but are not limited to, general economic
conditions, competition, new ventures, substantial leverage and debt service,
government regulation, legalization of gaming, interest rates, future terrorist acts,
influenza, insurance, gaming promoters, risks relating to our gaming licenses, certificate
and subconcession, infrastructure in Macao and other factors detailed in the reports
filed by Las Vegas Sands Corp. with the Securities and Exchange Commission. Readers
are cautioned not to place undue reliance on these forward-looking statements, which
speak only as of the date thereof. Las Vegas Sands Corp. assumes no obligation to
update such information.
Forward Looking Statements
2

3.  The global leader in Integrated Resort development and operation, delivering strong and
diversified cash flow and earnings as well as growing recurring dividends
 Best positioned operator to deliver growth in Asia, with the pre-eminent destination
Integrated Resort properties in the world’s largest and fastest growing consumer markets
 Uniquely positioned to bring unmatched track record, powerful convention-based business
model and the industry’s strongest balance sheet to the world’s most promising Integrated
Resort development opportunities
 Committed to maximizing shareholder returns by delivering long-term growth while
continuing to increase the return of capital to shareholders through recurring dividend and
stock repurchase programs
 The industry’s most experienced leadership team: visionary, disciplined and dedicated to
driving long-term shareholder value
The Investment Case for Las Vegas Sands
3
Maximizing Return to Shareholders by:
1. Delivering long-term growth in current markets
2. Using leadership position in convention-based Integrated Resort development and
operation to pursue global growth opportunities
3. Increasing return of capital to shareholders

4.  Net revenue decreased 24.9% to $3.01 billion
 Consolidated adjusted property EBITDA decreased 29.0% to $1.05 billion
 Macao – Adjusted property EBITDA decreased 43.8% to $527.7 million, as a result of a
challenging gaming environment, particularly in the VIP and premium mass segments, which
offset strong growth in retail mall income and steady performance in other non-gaming
segments
 Marina Bay Sands – Adjusted property EBITDA decreased 4.6% to $415.3 million (but was up
0.2% on a constant-currency basis). Mass win per day set an all-time record when measured in
local currency terms.
 Adjusted diluted EPS decreased 32.0% to $0.66 per share
 LVS returned a total of $518.9 million to shareholders during the quarter through its $0.65 per
share recurring dividend, an increase of 30%
First Quarter 2015 Highlights
Despite Current Headwinds in Macao – Increasing Returns of Capital to Shareholders
4
NOTE: All comparisons in this presentation compare the first quarter 2015 against the first quarter 2014 unless otherwise specified.

5. $ in millions, except per share information 1Q14 1Q15 $ Change % Change
Net Revenue 4,010.4$ 3,011.6$ (998.8)$ -24.9%
Adjusted Property EBITDA 1,479.7$ 1,050.5$ (429.2)$ -29.0%
Adjusted Property EBITDA Margin 36.9% 34.9% -200 bps
Adjusted Diluted EPS 0.97$ 0.66$ (0.31)$ -32.0%
Dividends per Common Share 0.50$ 0.65$ 0.15$ 30.0%
Hold-Normalized Adjusted Property EBITDA 1,365.2$ 1,021.6$ (343.6)$ -25.2%
Hold-Normalized Adj. Property EBITDA Margin 35.7% 34.3% -140 bps
Hold-Normalized Adjusted Diluted EPS 0.87$ 0.64$ (0.23)$ -26.4%
First Quarter 2015 Financial Results
5

6.  Macao – Growth in retail mall continues, VIP and premium mass gaming soft
— Mass table win decreased 24.2% to $1.01 billion (compared to a 27.1%¹ decrease in the Macao
market)
— Slot and ETG win decreased 26.0% to $136.4 million (compared to a 26.3%¹ decrease in the Macao
market)
— Retail mall revenue increased 25.0% to $87.4 million
— Rolling win decreased 59.0% to $592.4 million
 Singapore – Growth in mass and retail
— Mass table and slot win increased 1.1% to $422.6 million ($4.70 million win per day)
— Retail mall revenue increased 3.4% to $39.8 million
— Rolling win decreased 22.2% to $343.7 million
— RevPAR decreased 7.5% to $393, ADR decreased 3.3% to $414 and room revenue decreased 7.7%
to $89.6 million
Macao – Growth in Retail; Challenging Gaming Environment
Singapore – Growth in Mass Gaming and Retail
61. Based on Macao DICJ disclosure.

7. Year Year Year Quarter
Ended Ended Ended Ended
$ in millions 12/31/2012 12/31/2013 12/31/2014 3/31/2015 Total
LVS Dividends Paid1
823$ 1,153$ 1,610$ 519$ 4,105$
LVS Special Dividend Paid 2,262 - - - 2,262
LVS Shares Repurchased - 570 1,665 - 2,235
Subtotal LVS 3,085$ 1,723$ 3,275$ 519$ 8,602$
SCL Dividends Paid
2
357 411 538 308 1,614
SCL Special Dividend Paid - - 239 - 239
Subtotal SCL 357$ 411$ 777$ 308$ 1,853$
Total 3,442$ 2,134$ 4,052$ 827$ 10,455$
$1.00
$1.40
$2.00
$2.60
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
2012 2013 2014 2015
7
LVS Increasing Return of Capital to Shareholders
Nearly $10.5 Billion of Capital Returned to Shareholders Over Last 13 Quarters
LVS Recurring Dividends per Share1
 In the fourth quarter of 2014, the LVS Board of
Directors increased the LVS recurring dividend by
30.0% to $2.60 per share for the 2015 calendar year
($0.65 per share payable quarterly)
 In the fourth quarter of 2014, the LVS Board of
Directors also authorized an additional $2.0 billion
stock repurchase program following the completion
of the previous $2.0 billion program
 The company remains committed to returning
capital to shareholders via:
— Recurring quarterly dividend program at Las
Vegas Sands with a commitment to grow the
recurring dividend each year
— $2.0 billion Las Vegas Sands stock repurchase
program ($1.77 billion remaining) to be used
to return excess capital to shareholders
1. Excludes dividends paid by Sands China Ltd. and excludes the $2.75 per share special dividend paid in December 2012.
2. Reflects only the public (non-LVS) portion of dividends paid by Sands China Ltd. (total SCL dividends paid since 2011 were $6.2 billion).
The Company Remains Committed to Returning Capital to Shareholders While Maintaining a
Strong Balance Sheet and the Financial Flexibility to Pursue New Development Opportunities
Total Capital Returned to Shareholders

8. US$ in millions Interim Final Interim Final Interim Final Interim Final Total
SCL Dividends Paid
1
600$ 602$ 696$ 685$ 906$ 894$ 1,030$ 5,413$
SCL Special Dividend Paid - - - - 801 - - 801
Total 600$ 602$ 696$ 685$ 1,707$ 894$ 1,030$ $6,214 ³
Year Ended
12/31/201512/31/2012
Year Ended Year Ended Year Ended
12/31/2013 12/31/2014
$1.16 $1.33
$1.73
$1.99
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
2012 2013 2014 2015²
8
SCL Also Increasing Return of Capital to Shareholders
Over US$6.2 Billion of Capital Returned to Shareholders Over Last 13 Quarters
SCL Recurring Dividends per Share (HK$)1
 The SCL Board of Directors recommended
increasing the SCL 2015 dividend to HK$1.99 per
share, including an interim dividend of HK$0.99
per share paid in February and a final
recommended dividend of HK$1.00 per share²
 The company remains committed to returning
capital to shareholders via:
— Recurring bi-annual dividend program at
Sands China Ltd. with a commitment to
grow the recurring dividend each year
1. Excludes the special dividend paid in 2014.
2. The full 2015 dividend of HK$1.99 per share includes the interim dividend of HK$0.99 per share and the proposed final dividend of HK$1.00 per share. The final dividend is subject to the approval of the
SCL shareholders at the SCL Annual General Meeting on June 17, 2015.
3. Includes $4.36 billion in dividends paid to the parent company, Las Vegas Sands Corp.
SCL Remains Committed to Returning Capital to Shareholders While Maintaining a
Strong Balance Sheet and the Financial Flexibility to Pursue Development Opportunities
SCL Total Capital Returned to Shareholders

9. 5.2%
4.7%
4.3%
3.7%
3.3%
2.9%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
$50.00 $55.44 $60.00 $70.00 $80.00 $90.00
4.7%
2.2%
0.0%
0.5%
1.0%
1.5%
2.0%
2.5%
3.0%
3.5%
4.0%
4.5%
5.0%
5.5%
LVS S&P500
LVS Generates Greater Forward Dividend Yield
than the S&P500 Index
2015 Forward Dividend
Yield of LVS and S&P5001
1. Reflects the 2015 dividend yield for LVS and the Bloomberg 2015 forward dividend yield estimate for the S&P500 on April 21, 2015.
2. Reflects the 2015 LVS dividend ($2.60) over the closing price for LVS on April 21, 2015.
LVS’s 2015 Dividend Yield of 4.7% Reflects a 250 bps
Premium Above the S&P500 Forward Dividend Yield Estimates
Sensitivity of LVS Dividend Yield
Dividend
Yield as of
4/21/15²
+250 bps
9

10. Figures as of March 31, 2015 Sands China U.S. Corporate
(US GAAP in $MM) Ltd. Singapore Operations2
and Other Total
Cash, Cash Equivalents and Restricted Cash 1,183.4$ 474.9$ 606.6$ 148.5$ 2,413.4$
Debt 2,774.1$ 3,315.1$ 3,151.8$ -$ 9,241.0$
Net Debt 1,590.7$ 2,840.2$ 2,545.2$ (148.5)$ 6,827.6$
Trailing Twelve Months Adjusted Property EBITDA 2,856.5$ 1,703.3$ 432.2$ 1.2$ 4,993.2$
Gross Debt to Trailing Twelve Months EBITDA 1.0 x 1.9 x 7.3 x NM 1.9 x
Net Debt to Trailing Twelve Months EBITDA 0.6 x 1.7 x 5.9 x NM 1.4 x
At March 31, 2015:
 Trailing Twelve Months Adjusted Property EBITDA – $4.99 billion
 Trailing Twelve Months LVS Dividends Paid – $1.72 billion
 Trailing Twelve Months SCL Dividends Paid – $575.3 million1
 Trailing Twelve Months LVS Stock Repurchases – $854.7 million
 Cash Balance – $2.41 billion
 Net Debt – $6.83 billion
 Net Debt to TTM EBITDA – 1.4x
Strong Cash Flow, Balance Sheet and Liquidity
Flexibility for Future Growth Opportunities and Increasing Return of Capital
10
1. Reflects only the public (non-LVS) portion of dividends paid by Sands China Ltd. Total TTM dividends paid by Sands China Ltd. were $1.92 billion.
2. U.S. Operations includes the cash and debt at the U.S. Restricted Group (plus $62.8 million in airplane and other financings) and adjusted property EBITDA from Las Vegas operations and Sands Bethlehem.
3. The net leverage ratio for covenant compliance purposes, which includes the dividends and royalty fees paid by Sands China Ltd. and Marina Bay Sands to the U.S. Operations, was 0.8x.
4. Does not reflect the $1 billion new term loan at SCL under its existing credit facility. Funding is expected to be on or around April 30, 2015.
Strong Balance Sheet and Cash Flow Maximize Financial Flexibility
3
4

11. $939.8
$527.7
$864.8
$527.7
34.9%
30.2%
33.8%
30.2%
0%
10%
20%
30%
40%
50%
60%
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
$1,000
1Q14 1Q15 1Q14 1Q15
Macao Operating Performance
11
($MM)
Macao Property Operations Adjusted Property EBITDA and Adjusted Property EBITDA Margin
Actual Hold-Normalized
-39.0%-43.8%

12. Mass Tables
53%
Slots 8%
Hotel 12%
Mall 8%
Other 1%
VIP 18%
Mass Tables
52%
Slots 8%
Hotel 14%
Mall 10%
Other 3% VIP 13%
TTM 1Q14
Macao: Diversified and Stable Sources of
Departmental Profit For Las Vegas Sands and Sands China
12
Mass Tables / Slots and Non-Gaming Generated 87% of Macao’s Departmental Profit
in the TTM 1Q15 Period vs. 82% in the TTM 1Q14 Period
Macao Departmental Profit Contribution by Segment
TTM 1Q15

13. $344
$372
$452
$559
$580
$547
$509
$461
$412
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15
$523
$557
$609
$659
$757
$702 $709
$645
$601
$0
$100
$200
$300
$400
$500
$600
$700
$800
$900
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15
13
SCL Base Mass Table Win by Quarter
Macao: SCL Base Mass Showing Greater Stability
Than Premium Mass in Current Softer Market
Note: LVS base mass and premium mass table revenues as presented above are based on the geographic position of the tables on the gaming floor.
Our Mass Table Offering is the Broadest and the Deepest in the Macao Market
($MM)
SCL Premium Mass Table Win by Quarter
SCL Departmental Profit Margin: 40% - 50% SCL Departmental Profit Margin: 25% - 40%
($MM)
215
Avg.
Tables
248 326729
Avg.
Tables
877 865
Avg. Win per Table per Day: $7,705 Avg. Win per Table per Day: $14,020

14. Executing Our Mass Strategy in Macao
Expansion of Mass Market
Offerings Underway with The Parisian
Family-friendly Entertainment World Class Concerts, Sporting Events
and Other Entertainment Offerings
Over 1.5 million sq. feet
of World Class Shopping
Market-Leading Customer Database
Highly Themed Tourism Attractions
Portfolio of Nearly
9,300 Suites and Hotel Rooms
Over 2 million sq. feet of Conference,
Exhibition and Carpeted Meeting Space
The Broadest
and Deepest
Mass
Tourism
Offerings
in Macao
Our Diversified Convention-based Integrated Resort Offerings Appeal to the Broadest Set of Customers
and Comprise a Unique Competitive Advantage in the Macao Market 14

15. Macao Mass Visitation Drivers
Future Growth Drivers
 More efficient and affordable
transportation infrastructure
 Additional tourism attractions in
Macao and Hengqin Island
 Greater number of hotel rooms in
Macao
 Rapidly expanding middle-class
with growing disposable income
15
As a result, Macao’s Mass visitors will:
 Come From Farther
Away
 Stay Longer
 Spend More On:
• Dining
• Lodging
• Retail
• Entertainment
• Gaming

16. Twelve Months Ended February 28, Population GDP Per Penetration
Province 2014 2015 % Change (MM) Capita (US$) Rate
Guangdong 8,317,884 9,160,041 +10% 104 $9,452 8.8%
Fujian 783,432 916,013 +17% 37 $9,342 2.5%
Hunan 668,484 772,130 +16% 66 $5,936 1.2%
Zhejiang 652,932 697,980 +7% 54 $11,054 1.3%
Hubei 567,318 685,640 +21% 58 $6,881 1.2%
Jiangsu 523,927 583,640 +11% 79 $12,047 0.7%
Shanghai 544,361 543,891 -0.1% 23 $14,547 2.4%
Henan 381,666 518,693 +36% 94 $5,518 0.6%
Guangxi 409,971 518,457 +26% 46 $4,939 1.1%
Jiangxi 376,265 467,015 +24% 45 $5,130 1.0%
Sichuan 379,725 403,849 +6% 80 $5,240 0.5%
Beijing 368,546 378,296 +3% 20 $15,051 1.9%
Hebei 259,681 347,888 +34% 72 $6,251 0.5%
Liaoning 303,854 342,504 +13% 44 $9,961 0.8%
Heilongjiang 251,611 309,565 +23% 38 $6,057 0.8%
Shandong 274,265 309,456 +13% 96 $9,094 0.3%
Chongqing 228,142 264,793 +16% 30 $6,910 0.9%
All Other 3,761,812 4,196,808 +12% 407 N/A 1.0%
Subtotal (Excluding
Guangdong)
10,735,992 12,256,618 +14% 1,288 $6,617 1.0%
Mainland China 19,053,876 21,416,659 +12% 1,392 $6,767 1.5%
16
NOTE: Penetration rates assume that each visitor to Macao from Mainland China is a unique visitor.
Source: Macao DSEC; National Bureau of Statistics of China; LVS Estimates
Year-Over-Year Visitation Growth Mainland Chinese Visitation to Macao
Greater than 20%
Data Not Available-10%- 0%
0% - 10%
10%- 20%
Strong Growth in Mainland Chinese Visitation to Macao
Strongest Growth Realized in Provinces Served by High Speed Rail
Xinjiang
Tibet
Qinghai
Sichuan
Chongqing
Henan
Hubei
Shanxi
Hebei
Shandong
Beijing
Liaoning
Jilin
Heilongjiang
Jiangsu
Anhui
Hunan Jiangxi
Zhejiang
Guangxi
Guizhou
Yunnan
Ningxia
Shaanxi
Inner
Mongolia
Gansu
Guangdong
Fujian
Shanghai
Tianjin
Hong Kong
Macao

17. Expanding Our Critical Mass on the Cotai Strip
The Parisian Macao
17LVS
Operating
Assets
Third Party
Operating
Asset
Third Party
Future
Development
Construction Progress – April 20, 2015Map of Macao’s Cotai Strip
 The Parisian Macao is a $2.7 billion themed, aspirational
destination Integrated Resort
 Construction continues to progress
 Hotel rooms and suites: 3,000+
 Gaming capacity: ~450 table games and 2,500 slots and ETGs
 Additional amenities including a retail mall, 50% scale replica
Eiffel Tower, MICE space, diverse food & beverage options and
entertainment
 The Parisian Macao will be interconnected to our other Cotai Strip
properties through mall access and other pedestrian connectivity
including a walkover bridge from Sands Cotai Central
Rendering of The Parisian Macao
LVS Future
Development

18. Expanding Our Critical Mass on the Cotai Strip
The St. Regis Tower at Sands Cotai Central
18
Construction Progress – April 20, 2015Map of Macao’s Cotai Strip
 St. Regis branded 5-star hotel and serviced apartments
to complement the existing portfolio of brands on the
Cotai Strip
 Construction continues to progress
 Hotel rooms and suites: ~400
 Serviced Apartments: ~300
Rendering of The St. Regis Tower
LVS
Operating
Assets
Third Party
Operating
Asset
Third Party
Future
Development
LVS Future
Development

19. 28%
32%
35%
0%
10%
20%
30%
40%
2012 2013 2014
Macao Market Annual EBITDA
Market Share by Operator
SCL Expanded Market Share of Macao EBITDA by 700 bps Over the Last Two Years
Source: Company Reports
1. Reflects reported adjusted property EBITDA for operating properties for the twelve months ended December 31.
2. Galaxy only includes EBITDA from Starworld and Galaxy Macau.
Historical EBITDA Market Share1,2
19
Galaxy MPELSCL
2
SJM Wynn MGM
SCL Macao Property Operations All Others
18% 18% 18%
14% 15% 14%
14% 12% 11%
16% 14%
13%
10%
9%
9%
0%
20%
40%
60%
80%
2012 2013 2014
Macao
Leader in
Market Share
of EBITDA
72%
68% 65%

20. $9,199
$9,421$354 -$131
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
$7,000
$8,000
$9,000
$10,000
$11,000
2013
EBITDA
SCL
EBITDA
Growth
All Others
EBITDA
Growth
2014
EBITDA¹
$3,261
$1,720
$1,287 $1,258
$1,002
$894
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
LVS Galaxy² MPEL Wynn
Macau
SJM MGM
China
LVS Outperforming the Macao Market in
EBITDA Generation and Growth
LVS Had 35% Market Share of EBITDA in 2014 and
Generated $354 million of Incremental EBITDA Y/Y
Source: Company Reports
1. Reflects adjusted property EBITDA for operating properties based on US GAAP for the twelve months ended December 31, 2014.
2. Galaxy only includes revenue and EBITDA from Starworld and Galaxy Macau.
EBITDA
Margin
6% -7% -5% -11% 5%
2014 Macao Market EBITDA1
EBITDA
TTM
Growth
28% 27% 33% 17% 27%
($MM)
2014 Macao Market EBITDA Growth¹
($MM)
12%
34%
18% 14% 13% 11% 9%
Macao
Market
EBITDA
Share (%)
35%
20

21. $3.01 $3.11
$1.64 $1.59
$4.65 $4.70
$0.0
$2.0
$4.0
$6.0
1Q14 1Q15
Non-Rolling Tables Slot Machines
$435.2 $415.3
$377.9 $371.3
52.1% 52.9%
49.5% 50.9%
20%
30%
40%
50%
60%
70%
80%
$0
$100
$200
$300
$400
$500
$600
1Q14 1Q15 1Q14 1Q15
Marina Bay Sands Operations
Strong Retail and Mass Gaming Performance¹
21
Actual
 Adjusted property EBITDA of $415.3 million, a decrease of 4.6%
(Adjusted Property EBITDA increased 0.2% on a constant-currency
basis)
— Hold-normalized adjusted property EBITDA of $371.3 million,
a decrease of 1.7%
 Total mass (non-rolling tables and slots) win per day increased
1.1% to reach $4.70 million (+5.9% on a constant-currency basis)
— Total mass win was a property record in Singapore dollars
— Non-Rolling win increased 3.3% to $280.0 million
— Slot win decreased 3.4% to $142.7 million
 Room revenue decreased 7.7% as RevPAR decreased 7.5% to $393
and ADR decreased 3.3% to $414
 Retail mall revenue increased 3.4% to $39.8 million
 Rolling win decreased 22.2% to $343.7 million (rolling volume
decreased 22.0% to $10.09 billion)
($MM)
($MM)
Adjusted Property EBITDA
and Adjusted Property EBITDA Margin
Continued Growth in Mass Table and Retail Businesses Despite Headwind from Stronger US$
Non-Rolling Table and Slot Win Per Day
Hold-Normalized
1. Due to a strengthened USD in 1Q15 compared to 1Q14, MBS faced a currency headwind of approximately 4.7 percentage points in 1Q15 compared to 1Q14

22. VIP
11%
Mass Tables
38%
Slots
21%
Hotel
18%
Mall
8%
Other
4%
VIP
15%
Mass Tables
37%
Slots
19%
Hotel
18%
Mall
7%
Other
4%
TTM 1Q14¹
Singapore: Diversified and Stable Sources of
Departmental Profit For Las Vegas Sands
22
Mass Tables / Slots and Non-Gaming Generated
89% of Singapore’s Hold-Normalized Departmental Profit in TTM 1Q15
Singapore Hold-Normalized Departmental Profit Contribution by Segment
TTM 1Q15¹
1. In TTM 1Q15, VIP hold was 3.29% compared to 2.67% in TTM 1Q14. On a non hold-normalized basis, VIP contribution would have been 12% in TTM 1Q14 and 17% in TTM 1Q15.

23. $177 $182 $188 $192 $198
$126 $125 $129 $132 $139
$43 $45
$52 $57
$61
$156 $160
$167
$169
$171
$502 $512
$536 $551
$569
$0
$100
$200
$300
$400
$500
$600
1Q14 2Q14 3Q14 4Q14 1Q15
Venetian Macao Four Seasons Macao Sands Cotai Central¹ Marina Bay Sands
Asia Retail Mall Portfolio Continues to Generate
Strong Growth in Revenue and Operating Profit
23
($MM)
Trailing Twelve Months Retail Mall Revenue
88%86% 86% 86%
Operating
Profit Margin
88%
1. At March 31, 2015, 324,408 square feet of gross leasable area were occupied out of a total of up to 600,000 square feet of retail mall space that will be featured at completion of all phases of
Sands Cotai Central.
2. Tenant sales per square foot is the sum of reported comparable sales for the trailing 12-months divided by the comparable square footage for the same period. Only tenants that have
occupied mall space for a minimum of 12 months are included in the tenant sales per square foot calculation.
$503M$430M $442M $463M
Operating
Profit
$482M
TTM 1Q15 Sales
per Sq. Foot²
MBS:
$1,409
SCC:
$1,407
Four Seasons:
$5,246
Venetian:
$1,636

24. $67.7 $69.6
$77.9 $80.9 $85.7
$8.4
$26.8
$46.9
$69.9
$78.0
$104.7
$127.8
$87.4
$-
$20
$40
$60
$80
$100
$120
$140
$160
1Q14 2Q14 3Q14 4Q14 1Q15
Base Rent and Other Fees Turnover Rent
Macao Quarterly Retail Revenue Composition
24
Strong Growth In Macao Retail Mall Revenue
($MM)
Strong Retail Revenue Growth Across Macao Property Portfolio
$2.2
$1.6

25. South Korea
Promising Areas of Future Development Interest for Las Vegas Sands
Japan
 As the global leader in Integrated Resort development and operation, Las Vegas Sands is uniquely positioned to
bring its unmatched track record and powerful convention-based business model to the world’s most promising
Integrated Resort development opportunities
 Development opportunity parameters:
— Targeting minimum of 20% return on total invested capital
— 25% - 35% of total project costs to be funded with equity (project financing to fund 65% - 75% of total project
costs)
Disciplined Execution of Our Global Growth Strategy
25
Macao
The Parisian Macao
St. Regis Tower at
Sands Cotai Central
Vietnam

27. Appendix

28. $ in millions 1Q14 2Q14 3Q14 4Q14 1Q15
Macao Property Operations
Reported 939.8$ 801.3$ 809.0$ 711.2$ 527.7$
Hold-Normalized 864.8$ 752.5$ 772.1$ 686.2$ 527.7$
Marina Bay Sands
Reported 435.2$ 417.8$ 351.7$ 518.5$ 415.3$
Hold-Normalized 377.9$ 368.5$ 366.5$ 461.0$ 371.3$
Las Vegas Operations
Reported 79.7$ 66.1$ 90.2$ 78.0$ 74.1$
Hold-Normalized 97.3$ 70.4$ 83.6$ 87.6$ 89.2$
Sands Bethlehem
Reported 26.5$ 27.9$ 29.8$ 36.2$ 29.9$
Hold-Normalized 26.5$ 27.9$ 29.8$ 36.2$ 29.9$
LVS Consolidated2
Reported 1,479.7$ 1,312.6$ 1,283.9$ 1,346.1$ 1,050.5$
Hold-Normalized 1,365.2$ 1,218.8$ 1,255.1$ 1,273.3$ 1,021.6$
Historical Hold-Normalized Adj. Property EBITDA1
28
1. This schedule presents hold-normalized adjusted property EBITDA based on the following methodology:
(a) for Macao operations and Marina Bay Sands: if the quarter’s rolling win percentage is outside of the 2.70%-3.00% band, then a hold-adjustment is calculated by applying a rolling win percentage of 2.85% to the rolling table
volume for the quarter.
(b) for Las Vegas operations: starting with 1Q15, if the quarter’s Baccarat win percentage is outside of the 21.0%-29.0% band, then a hold-adjustment is calculated by applying a Baccarat win percentage of 25.0%, and if the
quarter’s non-Baccarat win percentage is outside of the 16.0%-20.0% band, then a hold-adjustment is calculated by applying a non-Baccarat win percentage of 18.0%. Our expected Baccarat win percentage in the prior quarters
was 22.0% to 30.0% (26.0% normalized) and our expected non-Baccarat win percentage in prior quarters was 14.0% to 18.0% (16.0% normalized).
(c) for Sands Bethlehem: no hold-adjustment is made.
(d) for all properties: gaming taxes, commissions paid to third parties on incremental win, bad debt expense, discounts and other incentives are applied to determine the EBITDA impact.
2. Reflects consolidated adjusted property EBITDA inclusive of Other Asia (principally CotaiJet operations) segment.

29. $1,086
$2,229
$3,532
$3,791
$4,763
$5,422
$4,993
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
2009 2010¹ 2011 2012² 2013 2014 TTM
1Q15
$4,563
$6,853
$9,411
$11,131
$13,770
$14,584
$13,585
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
2009 2010¹ 2011 2012² 2013 2014 TTM
1Q15
LVS Historical Net Revenue
($MM)
Strong Historical Revenue and EBITDA Growth
Over the Last Five Years
LVS Historical Adjusted Property EBITDA
($MM)
Margin 23.8% 32.5% 34.1%37.5% 34.6%
1. Marina Bay Sands opened in April 2010.
2. Sands Cotai Central opened in April 2012.
The Strength and Consistency of our Convention-Based Integrated
Resort Business Model is Reflected in our Financial Results
37.2%
29
36.8%

30. $0.07
$0.98
$2.02
$2.14
$2.90
$3.58
$3.27
$0.00
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
$4.00
$4.50
2009 2010¹ 2011 2012² 2013 2014 TTM
1Q15
$48
$775
$1,644
$1,768
$2,399
$2,894
$2,631
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
$3,500
2009 2010¹ 2011 2012² 2013 2014 TTM
1Q15
LVS Historical Adjusted Net Income
Strong Historical Adjusted Net Income and
Adjusted EPS Growth Over the Last Five Years
LVS Historical Adjusted Diluted Earnings per Share
($MM)
Diluted
Shares
Outstanding
728M 792M 825M812M 826M
1. Marina Bay Sands opened in April 2010.
2. Sands Cotai Central opened in April 2012.
3. Reflects the simple average of the diluted shares outstanding for the four component quarters.
The Strength and Consistency of our Convention-Based Integrated
Resort Business Model is Reflected in our Financial Results
808M
30
804M³

31. $472 $447 $445 $500 $500 $500
$125
$830
$192 $75
$100
$210 $390
$825
$960
$200
$190
$475
$100
$107
$1,449
$898
$1,179
$2,025
$1,560
$700
$0
$500
$1,000
$1,500
$2,000
$2,500
$3,000
2012A 2013A 2014A 2015E 2016E 2017E
Maintenance Investments in Current Properties¹ Sands Cotai Central The Parisian Macao² St. Regis at SCC Other
Capital Expenditures Expectations
Future Investments Include The Parisian Macao, St. Regis at SCC and Maintenance
Future Capital Expenditures Focused on Growth in Asia
($MM)
1. Reflects investments that will generate future income in our current property portfolio (including the Four Seasons Apart-Hotel and a third gaming area at Sands Cotai Central).
2. The timing of capex is subject to the receipt of timely government approvals.
Sands Cotai Central
The Parisian Macao2
St. Regis at Sands Cotai Central
LVS Capex Expectations
Development Timeline Pre-Opening
Post-Opening
31
$40
$49
$60
$19

32. 180 418
979 1,192218
1,105
1,808
883
2,115
$73 $97
$327
$1,520
$2,118
$5,115
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
2015 2016 2017 2018 2019 2020
SCL MBS USRG LVSC
Debt Maturity Profile
Debt Maturity by Year at March 31, 2015 ¹
Long Term and Low Cost Financing in Place
($MM)
1% 1% 16%% of Total 4% 23% 55%
321. Does not reflect the $1 billion new term loan at SCL under its existing credit facility. Funding is expected to be on or around April 30, 2015. On a proforma basis reflecting the loan, $1,595 million
would be due in 2018, $2,293 million would be due in 2019, $5,525 million would be due in 2020 and $340 million would be due in 2021.

33. $70
$208
$285
$361
$510 $561
$656
$780
$822 $896
$1,045$1,087$1,059$1,120$1,016$1,068$1,028 $984 $1,001$1,011
0.0% 8.4% 9.6%
12.9% 11.3%
14.6%
18.2% 19.8%
23.4%
26.8% 26.7% 27.8%
30.3% 32.0%
37.2% 37.5%
40.9% 41.9% 40.0%
37.6%
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
$0
$300
$600
$900
$1,200
2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15
Gross Casino A/R Balance at End of Period Reserve Against Casino A/R Balance
$40
$146
$203
$250 $271
$345
$314
$418
$311 $317
$378 $368
$408
$342
$403
$326
$361
$281 $272 $291
$0
$75
$150
$225
$300
$375
$450
2Q10 3Q10 4Q10 1Q11 2Q11 3Q11 4Q11 1Q12 2Q12 3Q12 4Q12 1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15
MBS – Credit Collections Remain Healthy
Reserve Balance Of $380 Million Represents 37.6% of Gross A/R
33
($MM)
Reserve Balance Of $380 Million Represents 37.6% of Gross Accounts Receivable
Casino Credit Collections Remain Stable
$0
Quarterly
Provision
$17M $24M $37M $32M $40M $40M$11M$19M$10M
Life to Date Provision of $572 Million Represents 9.6% of Rolling Win Since Opening of Property
$38M $39M $37M $39M $36M $36M $33M $30M $30M $24M

34. $293 $281
$225 $252
$519 $533
$0
$100
$200
$300
$400
$500
$600
$700
1Q14 1Q15
Baccarat Non-Baccarat
$79.7
$74.1
$97.3
$89.2
20.8% 19.7%
24.1% 22.6%
0%
10%
20%
30%
40%
$0
$20
$40
$60
$80
$100
$120
1Q14 1Q15 1Q14 1Q15
Las Vegas Operations
34
Composition of Table Games Drop
 Adjusted property EBITDA was $74.1 million, a
decrease of 7.0%
— On a hold-normalized basis, adjusted property
EBITDA was $89.2 million, a decrease of 8.4%
 ADR increased 1.2% to $244 with 86.2% occupancy,
RevPAR decreased 1.9% to $210
 Table games drop increased 2.8% to $533.1 million
driven by a 12.0% increase in non-Baccarat drop
 Slot win increased 8.5% to $44.1 million
Best opportunities for future growth:
— High-end Asian gaming growth
— Increase in group room pricing in 2015
— Non-gaming amenities
($MM)
Adjusted Property EBITDA
and Adjusted Property EBITDA Margin
Best Opportunity for Future Growth in Group Room Business and Baccarat
Actual
($MM)
Hold-Normalized

35. $116 $125
$132 $139
$248 $263
$0
$100
$200
$300
1Q14 1Q15
Baccarat Non-Baccarat
$26.5
$29.9
22.6% 23.4%
0%
10%
20%
30%
40%
$0
$5
$10
$15
$20
$25
$30
$35
1Q14 1Q15
Sands Bethlehem Operations
Record Quarter for Leading Tri-State Region Property
35
 Adjusted property EBITDA increased 12.8% to a first
quarter record $29.9 million
 Table games drop increased 6.4% to reach $263.4 million,
driven by a 7.8% increase in Baccarat drop
 Slot handle increased 6.0% to $1.01 billion
 ADR increased 2.1% to $149 with occupancy of 84.5%,
RevPAR increased 24.8% to $126
 The Outlets at Sands Bethlehem (130,000 SF) feature 29
stores including Coach, Tommy Hilfiger, DKNY, GUESS,
European Body Concepts Day Spa and Joli French Bakery
and Cafe
 The Sands Bethlehem Event Center (50,000 SF)
— Headline events have included Tiesto, Yes, Willie
Nelson, The Beach Boys, Incubus, Bellator MMA,
Glenn Frey, Crosby, Stills and Nash, NBC Fight Night,
Diana Krall and Bill Maher
($MM)
($MM)
Adjusted Property EBITDA
and Adjusted Property EBITDA Margin
Composition of Table Games Drop

36. Macao Market Background
and Infrastructure Slides

37. $16,146
$23,181
$39,327
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
Gross Gaming Revenue
Mass Tables and Slots VIP Gaming
41%
74%
59%
26%
0%
20%
40%
60%
80%
100%
Gross Gaming Revenue Operating Profit
Mass Tables and Slots VIP Gaming
TTM 1Q15 Macao Market
Gross Gaming Revenue
VIP Gaming Represents 59% of Total Macao GGR…
…but Mass Tables and Slots Generate ~74% of Gaming Operating Profit
($MM)
Composition of Macao Market Gross Gaming
Revenue and Est. Gaming Operating Profit2
Source: Macao DICJ
1. In the first quarter of 2015, the mass table segment decreased 27.1% and the slot business decreased 26.3% compared to the first quarter of 2014.
2. This presentation reflects an assumed operating profit margin of 10.0% on gross VIP revenue and a blended margin of 40% on mass table and slot gross revenue.
Mass Gaming Generates 41% of the Gaming Revenue, but ~74% of the Gaming Operating Profit
37
1Q15 YoY
Growth
-37%
-42%
-27%1
~1.8X

38. $3,580
$4,670
$6,123
$6,960
$6,459
$2,446
$2,637
$2,985
$2,661
$2,318
$6,026
$7,307
$9,108
$9,621
$8,777
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
2011 2012 2013 2014 TTM 1Q15
Mass Tables, Slots and ETGs VIP Tables
Macao Market VIP and Mass Gaming Estimated Operating Profit 1,2
The Mass Business Remains the Principal Profit Pool
and the Primary Driver of Earnings Growth in Macao
($MM)
Source: Macao DICJ
1. This presentation reflects an assumed operating profit margin of 10.0% on gross VIP revenue and a blended margin of 40% on mass table and slot gross revenue.
2. The percentages presented in parentheses represent the % of total operating profit for the period.
The Mass Business is the Primary Driver of Gaming Profit in Macao
38
(59%)
(64%)
(67%)
(72%)(41%)
(36%)
(33%)
(28%)
(XX%) = % of total
operating profit for period
(74%)
(26%)

39. $2,084 $2,409
$3,355
$4,358
$4,952
$6,587
$8,949
$11,674
$15,309
$17,400
$16,146
$4,648
$3,394
16%
39%
30%
14%
33%
36%
30%
31%
14%
-2%
-10%
0%
10%
20%
30%
40%
50%
60%
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
$18,000
$20,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 TTM
1Q15
1Q14 1Q15¹
Mass Table and Slot GGR Year-over-Year Growth
Macao Base Mass Business Remains More Resilient
Than Premium Mass in the Current Challenging Environment
39
Macao Mass Table and Slot Gross Gaming Revenue
($MM)
Source: Macao DICJ
1. In the first quarter of 2015, the mass table segment decreased -27.1% and the slot business decreased -26.3% compared to the first quarter of 2014.
Strong Historical Growth in Mass, Recent Headwinds Especially at the High-End of the Mass Segment

40. Five Trends that Should Contribute To Growth
in the Macao Market In The Future
1
2
3
4
5
200 million Chinese are expected to travel outside of China by
2020, compared to 83 million in 2012 and 97 million in 2013
Infrastructure and transportation connectivity throughout
China, especially in the Pearl River Delta region, will be
meaningfully expanded
Increasing length of stay in Macao
Hengqin Island will contribute to Macao’s diversification and to
its further development as a business and leisure tourism
destination
Over 12,000 new hotel rooms will open in Macao by 2018
Sources: McKinsey, Ernst & Young, CLSA
40

41. 0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
'56 '60 '64 '68 '72 '76 '80 '84 '88 '92 '96 '00 '04 '08 '12
$4
$8 $11
$14
$15
$22
$30
$44
$55
$70
$102
$120
5
5 9 12
20
31
41
48
57
73
83
97
108
119
132
147
163
180
200
$138
$157
$179
$205
$234
$268
$306
0
50
100
150
200
250
300
350
'95 '97 '99 '01 '03 '05 '07 '09 '11 '13 '15 '17 '19
Outbound Travel from China
China Is The World’s Largest and Fastest
Growing Outbound Tourism Market
41
Outbound Travel Penetration¹
Wealth Generation and Increased Mobility in China Have Driven Strong Growth in Outbound Trips and Tourism Spend,
And Comparative Outbound Travel Penetration Rates Show a Meaningful Opportunity for Continued Long-Term Growth
Expenditure (US$bn)
Chinese outbound
tourists (millions)
CLSA estimates
Source: CLSA, UNWTO
1. Outbound travel penetration is defined as total departures by residents as a percentage of the respective country’s population.
1
China
Japan
Taiwan
Korea
2009-2013 2012-2020
Expenditure 27.2% 14.3%
Tourists 16.1% 10.9%
CAGR
44.5%
27.5%
14.5%
6.1%

42. $1.1 $1.2 $1.2 $1.3 $1.4
$2.3 $2.5
$4.0
$10.0
$12.8
$-
$5
$10
$15
France Brazil Mexico Germany Russia Japan Indonesia USA China India
Chinese Middle Class Consumption Growth
Chinese Middle Class Consumption in 2030 is Projected to Reach $10.0 trillion
42
Global Middle Class Consumption in 2030 (US$ trillion)
NOTE: Brookings Institution defines the global middle class as those households with daily expenditures between $10 and $100 per person in purchasing power parity terms.
Source: Brookings Institution; UN; World Bank; Financial Times.
Continued Growth of the Chinese Middle Class Will Drive Macao Mass Tourism Opportunity
1
(US$ trillion)

43. Twelve Months Ended February 28, Population GDP Per Penetration
Province 2014 2015 % Change (MM) Capita (US$) Rate
Guangdong 8,317,884 9,160,041 +10% 104 $9,452 8.8%
Fujian 783,432 916,013 +17% 37 $9,342 2.5%
Hunan 668,484 772,130 +16% 66 $5,936 1.2%
Zhejiang 652,932 697,980 +7% 54 $11,054 1.3%
Hubei 567,318 685,640 +21% 58 $6,881 1.2%
Jiangsu 523,927 583,640 +11% 79 $12,047 0.7%
Shanghai 544,361 543,891 -0.1% 23 $14,547 2.4%
Henan 381,666 518,693 +36% 94 $5,518 0.6%
Guangxi 409,971 518,457 +26% 46 $4,939 1.1%
Jiangxi 376,265 467,015 +24% 45 $5,130 1.0%
Sichuan 379,725 403,849 +6% 80 $5,240 0.5%
Beijing 368,546 378,296 +3% 20 $15,051 1.9%
Hebei 259,681 347,888 +34% 72 $6,251 0.5%
Liaoning 303,854 342,504 +13% 44 $9,961 0.8%
Heilongjiang 251,611 309,565 +23% 38 $6,057 0.8%
Shandong 274,265 309,456 +13% 96 $9,094 0.3%
Chongqing 228,142 264,793 +16% 30 $6,910 0.9%
All Other 3,761,812 4,196,808 +12% 407 N/A 1.0%
Subtotal (Excluding
Guangdong)
10,735,992 12,256,618 +14% 1,288 $6,617 1.0%
Mainland China 19,053,876 21,416,659 +12% 1,392 $6,767 1.5%
43
NOTE: Penetration rates assume that each visitor to Macao from Mainland China is a unique visitor.
Source: Macao DSEC; National Bureau of Statistics of China; LVS Estimates
Year-Over-Year Visitation Growth Mainland Chinese Visitation to Macao
Greater than 20%
Data Not Available-10%- 0%
0% - 10%
10%- 20%
Xinjiang
Tibet
Qinghai
Sichuan
Chongqing
Henan
Hubei
Shanxi
Hebei
Shandong
Beijing
Liaoning
Jilin
Heilongjiang
Jiangsu
Anhui
Hunan Jiangxi
Zhejiang
Guangxi
Guizhou
Yunnan
Ningxia
Shaanxi
Inner
Mongolia
Gansu
Guangdong
Fujian
Shanghai
Tianjin
Hong Kong
Macao
Strong Growth in Mainland Chinese Visitation to Macao
Strongest Growth Realized in Provinces Served by High Speed Rail
1

44. Infrastructure: China’s High-Speed Rail
Connecting More of Mainland China to Macao
Source: SCMP, LVS, NYT
44
2
China’s Ministry of Railways Plans to Spend Greater than US$100 billion per Year on Rail Development
for the Foreseeable Future, and Highlighted Rail Development in the February 2014 Stimulus Plan
Beijing – Guangzhou High-Speed Rail
 World’s longest high-speed rail route
 Covers 2,298km in ~10 hours (compared
to 22 hours previously) at a cost of 862
yuan (~US$140) per one way ticket
 Provides seamless connection from
Northern China to the Macao border via
the Guangzhou-Zhuhai Intercity Rail
 5 trains in each direction each day
Guangzhou – Zhuhai Intercity Rail
 Rail line connecting Guangzhou to
Zhuhai, where the Gongbei border
gate to Macao is located
 Guangzhou is the largest city in
Guangdong province and is a key
economic and transportation hub
 Reduces travel time from
Guangzhou to Zhuhai from 2+
hours by bus to as short as 60
minutes
 Zhuhai station opened in Jan 2013
 Future link to Macao Light Rail
System
 40-45 trains in each direction each
day
Wuhan – Guangzhou High-Speed Rail
 Wuhan is the capital of Hubei Province and one
of the most populous cities in Central China
with ~10 million people
 Wuhan is an important economic and
transportation hub in Central China
 HSR reduces travel time to Guangzhou from 11
hours by bus to 3.5 hours by train
 One of the most successful routes with 75-85
trains in each direction each day
Hong Kong
Macao

45. Infrastructure: Meaningful Improvements
Throughout the Pearl River Delta Region
Source: World Bank, China Daily, Chinatrainguide.com, Analyst reports. Note: population and GDP data from 2013.
45
Guangzhou
Population: 13M
GDP Per Capita: US$14,000
Macao
Population: 0.6M
GDP Per Capita: US$91,300
Hengqin Island
• Special economic area
• Over $20B of overall investment
• Over 10,000 hotel rooms
• First phase of Chimelong theme park opened in
Jan. 2014 and expected to attract 20M visitors
annually at completion of all phases
Hong Kong
Population: 7.2M
GDP Per Capita: US$38,000
Hong Kong-Macao-Zhuhai Bridge
(expected completion TBD)
Wuhan – Guangzhou High-Speed Rail
• 3.5 hour train ride
• 75-80 trains in each direction per day
Shenzhen
Population: 10M
GDP Per Capita: US$22,000China Border Gate Expansion
• Daily capacity increased from 150,000 to
350,000 people in 2H13
• Reduced average wait times on China side of
border
Guangzhou – Zhuhai Intercity Rail
• 70 - 90 minute train ride (2+ hours by bus)
• 25 - 35 trains in each direction per day
• Final link to Gongbei border gate completed in
January 2013
Guangzhou – Shenzhen – Hong Kong Rail
• 2 hour train ride from Guangzhou to Hong Kong
• 25 trains in each direction per day
Infrastructure Legend
Existing
Future
Gongbei – Hengqin Railway
• Connects the Gongbei border crossing with
Hengqin Island
• Stops at Lotus Bridge crossing and ends at
Chimelong theme park
• Expected completion 2017
2

46. 5.2
6.3
7.3
8.1
8.9
9.7
0.0
2.0
4.0
6.0
8.0
10.0
12.0
2009 2010 2011 2012 2013 2014
5.8
6.9
8.8 8.8
9.7
11.5
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
2009 2010 2011 2012 2013 2014
Mainland China Day-Trip Visitors to Macao Mainland China Overnight Visitors to Macao
Chinese Day-Trip and Overnight Visitation To
Macao Both Continue to Grow
(MM)
Source: Macao DSEC
46
-9% +19% +28% 0%
(MM)
Growth -1% +22% +16% +10%Growth
Chinese Visitation Continues to Grow and Additional Hotel Capacity and
Transportation Infrastructure will Enhance Overnight Visitation Growth to Macao in the Future
+10% +10%
3
+19% +9%

47. 11.0
13.2
16.2 16.9
18.6
21.3
18.0
22.7
28.1
34.9
40.7
47.2
0.0
5.0
10.0
15.0
20.0
25.0
30.0
35.0
40.0
45.0
50.0
Mainland China Visitation to Macao and Hong Kong
Visitation to Macao Can Meaningfully Grow
47.2 Million Residents of Mainland China Visited Hong Kong in 2014
(MM)
Source: Macao DSEC; Hong Kong Tourism Board
47
-5% +20% +22% +5%Macao
+6%Hong Kong +26% +24% +24%
Robust Transportation Infrastructure, 74,000 Hotel Rooms and World-Class Dining and Shopping
Amenities Enabled 47.2 Million Mainland Chinese Visitors to Travel to Hong Kong in 2014
In 2014 Hong
Kong Received
25.9M More
Visitors from
China than Macao
2009 2010 2011 2012 2013
+10%
+17%
3
Macao Hong Kong
2014
+14%
+16%

48. 19.5
64.9
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
2.0
3.4
0.0
0.5
1.0
1.5
2.0
2.5
3.0
3.5
4.0
(Days)
Total 2014 Mainland
Chinese Visitor Nights¹
(MM)(MM)
Daytrip Visitors
Opportunity for Increased Overnight Visitation
and Length of Stay In Macao
48
1. Calculated as total overnight visitors from Mainland China multiplied by average length of stay for Mainland overnight visitors in each market for 2014. Hong Kong has
not yet released their 2014 average length of stay figure, so the 3.4 average length of stay presented reflects the 2013 figure.
Source: Macao DSEC, Hong Kong Tourism Board
Composition of 2014
Visitation from Mainland China
Mainland Visitors Spent 64.9 Million Visitor Nights in Hong Kong in 2014
Compared to Just 19.5 Million Visitor Nights Spent in Macao
Overnight Visitors
Avg. Length of Stay for
Mainland Chinese
Overnight Visitors in 2014
Macao Hong Kong
3
11.5
9.7
28.2
19.1
0.0
5.0
10.0
15.0
20.0
25.0
30.0

49. Hengqin Island Expands Critical Mass of
Tourism Offerings for Visitors to the Region
49
Map of Hengqin Island New Area Important Facts
 Island adjacent to Macao (3X the size of Macao) that has been
welcomed by President Xi Jinping as a strategic zone for
cooperation among Guangdong Province, Hong Kong and
Macao
 Master-planned island with greater than US$20 billion of
investment focused on tourism development, industrial and
technological innovation and education
 One of three current “New Area” reform zones in China
— Support from the Central Government to enable long
term success
— Empowerment to have broad flexibility on economic and
legal matters
 Designed to contribute to the diversification of Macao
— US$3.2 billion Chimelong International Ocean Resort
opened January 28, 2014 and is expected to generate 20
million visits in the future after completion of all phases¹
— Hengqin’s central business district will feature a 1.2
million square foot convention center
— More than 10,000 hotel rooms expected to open over the
next five years
Source: Macau Daily, Zhuhai Daily, Chimelong Group, Hengqin New Area Administrative Committee
1. Phase 1 currently includes the Hengqin Bay Hotel, the Ocean Kingdom theme park, the Circus World show and a waterpark in the Hengqin Bay Hotel. The theme park received over
8 million visitors in 2014, with over 500,000 visitors during the 2014 Chinese New Year holiday.
4

50. SandsCotai
Central
5,723
The
VenetianMacao
2,905
Sands Macao,289
GalaxyMacau
2,250
Grand Waldo,550
Starworld,509
Cityof Dreams
1,461
AltiraMacau, 216
WynnMacau
1,014 Grand Lisboa,431
Sofitel Macau,408
MGM Grand,587
9,277
3,309
1,677
1,014 839
587
0
1,000
2,000
3,000
4,000
5,000
6,000
7,000
8,000
9,000
10,000
Sands China Galaxy Entertainment Melco Crown Wynn Resorts SJM Holdings² MGM China
Hotel % of Gaming % of Total
Gaming Operator Rooms Operators Market
Sands China 9,277 56% 38%
Galaxy Entertainment 3,309 20% 14%
Melco Crown 1,677 10% 7%
Wynn Resorts 1,014 6% 4%
SJMHoldings² 839 5% 4%
MGMChina 587 4% 2%
Subtotal Gaming Operators 16,703 100% 68%
Other 4/5 Star 7,537 0% 32%
Total 24,240 100% 100%
Market Leading Hotel Capacity at SCL
Sands China Operates 38% of Macao’s Current 4/5-Star Hotel Inventory
1. In addition to the hotel rooms that are owned by gaming operators presented here, there are 7,537 additional four- and five-star hotel rooms in Macao.
2. Reflects only SJM Holdings self-owned hotels.
Source: Company filings, Macao DSEC
50
With a Market-Leading US$9 billion of Investment,
SCL Hotel Inventory Represents 56% of Macao Competitor Hotel Inventory
Macao Market Gaming Operator Hotel Rooms1
Four Seasons
Macao, 360
5
`

51. SandsCotai
Central
5,723
The
VenetianMacao
2,905
Sands Macao,289
The Parisian
Macao
3,000
GalaxyMacau
2,250
Grand Waldo, 550
Starworld,509
GalaxyMacau Phase II
1,350
Cityof Dreams
1,461
AltiraMacau, 216
Macau StudioCity
1,600
Grand Lisboa, 431
Sofitel Macau, 408
SJMCotai
2,000
WynnMacau, 1,014
WynnCotai
1,700
MGM Grand,587
MGM Cotai
1,600
12,677
4,659
3,277 2,839 2,714
2,187
0
2,000
4,000
6,000
8,000
10,000
12,000
14,000
Sands China Galaxy Entertainment Melco Crown SJM Holdings² Wynn Resorts MGM China
Hotel % of Gaming % of Total
Gaming Operator Rooms Operators Market
Sands China 12,677 45% 35%
Galaxy Entertainment 4,659 16% 13%
Melco Crown 3,277 12% 9%
SJMHoldings² 2,839 10% 8%
Wynn Resorts 2,714 10% 8%
MGMChina 2,187 8% 6%
Subtotal Gaming Operators 28,353 100% 78%
Other 4/5 Star 7,773 0% 22%
Total 36,126 100% 100%
1. In addition to the hotel rooms that are owned by gaming operators presented here, there will be approximately 7,773 additional four- and five-star hotel rooms in Macao.
2. Reflects only SJM Holdings self-owned hotels.
Source: Company filings, Macao DSEC
51
Macao Market Gaming Operator Hotel Rooms at December 31, 20171
Four Seasons
Macao, 360
St. Regis Macao, 400
5
`
With a Market-Leading US$13 billion of Investment,
SCL Hotel Inventory Will Represent 45% of Macao Competitor Hotel Inventory
Market Leading Hotel Capacity at SCL
Projected Macao Market 4/5 Star Hotel Rooms at December 31, 2017

52. Supplemental Sands China Information

53. $7.8
$5.3
$1.3
$14.4
$2.5
$16.9
$5.8
$4.4
$0.7
$10.8
$2.0
$12.8
$0.0
$5.0
$10.0
$15.0
$20.0
Venetian
Macao
Sands Cotai
Central
Plaza Casino
(Four Seasons)
Total
Cotai Strip
Sands Macao Total
Macao Ops
1Q14 1Q15
Mass Table, Slot and ETG Win Per Day
($MM)
SCL’s Mass Gaming Segment Impacted by Headwinds…
Especially at the High-End of the Mass Market
53
Cotai Strip Properties Peninsula Total
Mass Tables 494 394 95567 236 1,191
Slots
ETGs
1,443 1,042 2,624139 544 3,168
668 667 1,3438 375 1,718
1Q15 Average Table, Slot and ETG Units

54. $867
$930
$1,061
$1,219
$1,337
$1,249
$1,218
$1,106
$1,013
28.8% 29.9% 29.8% 30.5% 31.6% 30.5% 30.0%
32.4%
31.0%
0%
5%
10%
15%
20%
25%
30%
35%
40%
45%
50%
55%
60%
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15
Mass Table Win % of Macao Mass Table Win
$10,204
$10,190
$10,961
$12,143
$13,210
$11,963
$11,518
$10,469
$9,447
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15
Mass Table Win Mass Table Win per Table per Day2
54
($MM)
1,191
Avg.
Tables
1,124
The Mass Business Continues to Face Headwinds, Particularly at the “High-End” of Mass
Source: Macao DICJ
1. LVS’s mass table market share as presented above reflects the Macao DICJ’s presentation methodology, which includes live dealer ETG configurations within the mass table segment and Paiza cash
revenue within the VIP segment. For financial reporting purposes, LVS presents a non-rolling table segment (which includes Paiza cash and excludes all ETGs) and a slot segment (which includes all ETGs).
2. Excludes revenue from all ETGs.
SCL: Mass Table Segment
Mass Business in Macao is Facing Headwinds (Particularly at the “High-End” of Mass)
1
944

55. $149 $149
$166
$174
$184
$178 $176
$157
$136
29.6% 30.1%
32.6% 32.7% 32.2% 32.5% 31.5%
32.9%
31.4%
0%
10%
20%
30%
40%
50%
60%
$0
$20
$40
$60
$80
$100
$120
$140
$160
$180
$200
$220
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15
Slot & ETG Win % of Macao Market Slot Win
$283 $285
$327
$353
$388 $401
$424
$362
$310
$0
$50
$100
$150
$200
$250
$300
$350
$400
$450
$500
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15
Macao Slot and ETG Win Macao Slot and ETG Win per Unit per Day
55
($MM)
4,885
Avg.
Units
5,277
Slot Business Soft, Particularly at High-End, with Electronic Table Games Showing More Resilience
Source: Macao DICJ
1. LVS’s slot market share as presented above reflects the Macao DICJ’s slot revenue reporting methodology, which excludes ETG play. Live dealer ETG configurations are reported within
the mass table segment. For financial reporting purposes, LVS presents a non-rolling table segment (which excludes all ETGs) and a slot segment (which includes all ETGs).
SCL: Slot and ETG Segment
Slot Business Facing Headwinds…Particularly at “High End”
1
5,843

56. $1,223
$1,184
$1,303$1,327
$1,445
$1,117
$1,019
$838
$592
17.2% 16.8%
18.4%
16.9%
18.3%
16.8%
17.9%
15.6% 14.6%
0%
5%
10%
15%
20%
25%
30%
$0
$200
$400
$600
$800
$1,000
$1,200
$1,400
$1,600
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15
Rolling Win % of Macao Market Rolling Win
$26,269
$24,763
$30,365
$32,837
$39,167
$32,568
$29,893
$24,084
$19,012
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
1Q13 2Q13 3Q13 4Q13 1Q14 2Q14 3Q14 4Q14 1Q15
Rolling Win per Table per Day
56
Rolling Win
346Avg.
Tables
410
Declining Segment Contributed Less Than 15% of Operating Profit in the TTM Period Ending March 31, 2015
($MM)
SCL: VIP Rolling Segment
VIP Segment in Macao Continues to Decline
2.81%3.18%Rolling
Win %
5172.97%

57. Department TTM 1Q14 TTM 1Q15 YoY Growth (%)
Departmental Profit
Margin Range
Retail Mall $346 $398 15% 85%+
Hotel 584 635 9% 75% - 80%
Convention, F&B, Entertainment &
Other
492 514 4% Varies
Base Mass 2,583 2,657 3% 40% - 50%
Slots 673 647 -4% 40% - 50%+
Premium Mass 1,963 1,930 -2% 25% - 40%
VIP Gaming 5,260 3,566 -32% ~10%
Adj. Property EBITDA from
Macao Property Operations
Hold Normalized Adj. Prop. EBITDA
from Macao Prop. Operations
-14%
Gross Revenue (US$MM)
$3,217 $2,849 -11%
$3,173 $2,739
Macao Annual Operating Performance
Most Diversified and Defensive Cash Flows in the Macao Market
57
SCL Departmental Revenue and Profit Margins – TTM 1Q15 vs TTM 1Q14
SCL Continues to Focus on the High-Margin Non-Gaming and Mass Segments
1
1. Hold-Normalized Adjusted Property EBITDA from Macao Property Operations represents the sum of the hold-normalized figures from the four quarters ended March 31.

58. Department
Quarter Ended
3/31/2014
Quarter Ended
3/31/2015 YoY Growth (%)
Departmental Profit
Margin Range
Retail Mall $70 $87 25% 85%+
Hotel 165 148 -10% 75% - 80%
Convention, F&B, Entertainment &
Other
125 114 -8% Varies
Base Mass 757 601 -21% 40% - 50%
Slots 184 136 -26% 40% - 50%+
Premium Mass 580 412 -29% 25% - 40%
VIP Gaming 1,445 592 -59% ~10%
Adj. Property EBITDA from
Macao Property Operations
Hold Normalized Adj. Prop. EBITDA
from Macao Prop. Operations
Gross Revenue (US$MM)
$940 $528 -44%
$865 $528 -39%
Macao First Quarter Operating Performance
Most Diversified and Defensive Cash Flows in the Macao Market
58
SCL Departmental Revenue and Profit Margins – Quarter Ended 3/31/2015 vs 3/31/2014
SCL Continues to Focus on the High-Margin Non-Gaming and Mass Segments

59. $40 $49
$198
$576 $593
$688
$817
$1,030
$1,381
$1,626 $1,615
$0
$500
$1,000
$1,500
$2,000
2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 TTM 1Q15
Non-Gaming Revenue (US$MM)
Macao Annual Non-Gaming Revenue
Most Diversified and Defensive Cash Flows in the Macao Market
59
($MM)
SCL Gross Non-Gaming Revenue
SCL’s High-Margin Non-Gaming Revenue Has Remained Strong
Despite Headwinds in the Gaming Segments