Las Vegas Sands (LVS) Research & Development (2009 - 2026)
Las Vegas Sands' Research & Development was $43 million in Q2 2026, down 37.7% from $69 million a year earlier but up 4.9% from the prior quarter.
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Analysis
Las Vegas Sands (LVS) Research & Development (2009 - 2026) Analysis & Trends
On a trailing twelve-month basis, Las Vegas Sands' Research & Development was $215 million through Jun 30, 2026, down 14.7% year-over-year; for FY2025, it was $269 million, up 18.0% from FY2024.
- Research & Development has now increased for five consecutive years, with a five-year compound annual growth rate of 71.7% (FY2020 to FY2025).
- In earlier years, Research & Development was $228 million in FY2024 (+11.2%), $205 million in FY2023 (+43.4%), $143 million in FY2022 (+31.2%) and $109 million in FY2021 (+505.6%).
- Quarterly Research & Development has moved between $13 million (Q3 2021) and $72 million (Q3 2025) over five years.
- Compared with a year earlier, Research & Development was higher in four of the last eight quarters, with growth averaging 1.5%.
- The best year-over-year quarter for Research & Development over five years was Q1 2022 (growth of 566.7%); the worst was Q1 2026 (a decline of 40.6%).
- Per Business Quant data, LVS's Research & Development in the three quarters before Q2 2026 was $41 million (Q1 2026), $59 million (Q4 2025) and $72 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Las Vegas Sands | 25.14 Bn | 11.55 Bn | 1.48 Bn | 43.00 Mn |
| 2 | DraftKings | 18.81 Bn | 14.47 Bn | 551.45 Mn | 127.65 Mn |
| 3 | Flutter Entertainment | 13.30 Bn | 7.05 Bn | 1.71 Bn | 300.00 Mn |
| 4 | Madison Square Garden Sports | 10.02 Bn | 9.62 Bn | 119.21 Mn | - |
| 5 | Life Time Group Holdings | 8.83 Bn | 8.07 Bn | 412.26 Mn | - |
| 6 | Wynn Resorts | 8.33 Bn | 1.88 Bn | 758.95 Mn | - |
| 7 | MGM Resorts International | 8.01 Bn | -169.85 Mn | 1.98 Bn | - |
| 8 | Caesars Entertainment | 6.03 Bn | 2.65 Bn | 1.50 Bn | - |
| 9 | Super Group (SGHC) | 5.93 Bn | 3.92 Bn | - | - |
| 10 | Red Rock Resorts | 5.30 Bn | 4.88 Bn | 315.50 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 43.00 Mn |
| Mar 31, 2026 | 41.00 Mn |
| Dec 31, 2025 | 59.00 Mn |
| Sep 30, 2025 | 72.00 Mn |
| Jun 30, 2025 | 69.00 Mn |
| Mar 31, 2025 | 69.00 Mn |
| Dec 31, 2024 | 59.00 Mn |
| Sep 30, 2024 | 55.00 Mn |
| Jun 30, 2024 | 61.00 Mn |
| Mar 31, 2024 | 53.00 Mn |
| Dec 31, 2023 | 65.00 Mn |
| Sep 30, 2023 | 44.00 Mn |
| Jun 30, 2023 | 54.00 Mn |
| Mar 31, 2023 | 42.00 Mn |
| Dec 31, 2022 | 35.00 Mn |
| Sep 30, 2022 | 26.00 Mn |
| Jun 30, 2022 | 22.00 Mn |
| Mar 31, 2022 | 60.00 Mn |
| Dec 31, 2021 | 50.00 Mn |
| Sep 30, 2021 | 13.00 Mn |
API Access
Las Vegas Sands Research & Development API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=research-and-development&ticker=LVS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "ticker": "LVS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=research-and-development&ticker=LVS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();