Goldman Sachs 2010 Lodging, Gaming, Restaurant & Leisure ConferenceJune 7, 2010

Las Vegas Sands Corp.g pWho We Are

Leading global developer and operator of destination integrated resorts

Proven convention-based business model

– Meetings, Incentive, Convention and Exhibition (MICE) business drives

weekday visitation

– Entertainment and leisure offerings generate weekend visitation

This combination expands visitation to a city / country / region while generating– This combination expands visitation to a city / country / region while generating

strong cash flow

E t bli h d k t l d hi i L V M d SiEstablished market leadership in Las Vegas, Macau and Singapore

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Las Vegas Sands Corp.

History of developing world-class properties

g pOur Footprint and History

History of developing world class properties

Year Opened Property Location

1999 The Venetian Las Vegas Las Vegas

2004 Sands Macao Macau

2007 The Venetian Macao Macau

2008 Palazzo Las Vegas Las Vegas2008 Palazzo Las Vegas Las Vegas

2008 Four Seasons Hotel Macao and Plaza Casino Macau

2009 Sands Bethlehem Bethlehem, PA

2010 Marina Bay Sands Singapore

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2010 Marina Bay Sands Singapore

2011 Parcels 5 & 6 (Cotai Strip) Macau

Asia is Our Future

LVS is highly leveraged to the growing economies of North and South Asia

s a s Ou utu e

LVS is highly leveraged to the growing economies of North and South Asia

Geographic distribution of revenue and cash flow streams reflects:

– Our overall investment in Asia of nearly $14 billion

– Growing Asian consumer appetite for leisure and destination resort offerings

LVS Consolidated Adjusted Property EBITDA

2006 2009 The Future of LVS1

US 25%

AsiaUS

US17%

Asia 75%

Asia 55%

US 45% Asia

83%

41. Reflects 2011 analyst consensus estimates

U.S. Operationsp

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The Venetian and Palazzo Las VegasgLas Vegas, NV

Largest contiguous integrated casino-resort-convention complex in the world (18 million square feet) and a leader in the Las Vegas market

7,100 all-suite hotel rooms

225 000 square feet of gaming space with 234225,000 square feet of gaming space with 234 tables, 2,925 slots, a poker room and sportsbook

2.3 million square feet of convention and meeting space in Sands Expo Center (SECC) and Congress Center

− 350 meeting rooms

− Ability to feed 50,000 at one time

Grand Canal Shoppes, a world class Venice-themed shopping mall totaling 400,000 square feet, and Shoppes at The Palazzo, both sold to GGP

30+ restaurants with > 10,000 seats featuring celebrity chefs like Keller, Batali, Lagasse, Puck and food court operations

Numerous premium attractions including Canyon

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Numerous premium attractions including Canyon Ranch Spa Club, Wayne Brady, Blue Man Group, Phantom of the Opera and Jersey Boys

Las Vegas Operationsg p

The principal revenue drivers are hotel food & beverage and gamingThe principal revenue drivers are hotel, food & beverage and gaming

Hotel occupancy of 91% and ADR of $207 in 1Q10

– Strength of the convention-based business model allowed us to outperform– Strength of the convention-based business model allowed us to outperform the Las Vegas market

– FIT is strengthening, particularly on weekends

– Memorial Day Weekend ADR exceeded $300 in 2010…consistent with 2007 rates

G i 2010 d 2009– Group rooms are up in 2010 compared to 2009

– Casino block is also up in 2010

Gaming volumes remain healthy in 1Q10 – and positive trends continue

– VIP play was up 70% in 1Q10 compared to 1Q09

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– Non-VIP play was stable in 1Q10 compared to 1Q09

Las Vegas Operationsg p

MICE environmentMICE environment

– Forward booking trends are healthy

– Pricing remains below historical levels– Pricing remains below historical levels

Cost structure down $200 million annually without deterioration of the guest experience

Overall Operations

– Right-sized cost structure positions us for strong growth

– Headcount in 2007: ~8,000 FTEs

– Headcount today: ~6,500 FTEs

With a 7,100-room Base, The Business Should Exhibit St O ti L Wh Th E R

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Strong Operating Leverage When The Economy Recovers

Sands Casino-Resort Bethlehem

Opened in May 2009

Bethlehem, Pennsylvania

Opened in May 2009

124-acre development on former site of historic Bethlehem Steel Works

− 85 miles from midtown Manhattan85 miles from midtown Manhattan

Casino with 3,250 slot machines

Dining amenities include two Emeril Lagasse restaurants and a Carnegie Delirestaurants and a Carnegie Deli

1Q10 Operating Performance:

− Net Revenue of $67 million

Adj Property EBITDA of $11 million− Adj. Property EBITDA of $11 million

Future operating performance enhancements:

− Introduction of 89 table games in Summer 20102010

− Completion of 300-room hotel in Spring 2011

− Additional marketing programs

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g p g

Macau OperationsMacau Operations

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MacauCotai Strip and Macau Peninsula

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Sands Macao

First modern Las Vegas st le facilit in

Sa ds acaoMacau Peninsula

First modern Las Vegas-style facility in Macau – opened in May 2004

Advantaged location near existing Macau ferry terminal on Macau peninsula

Broad range of dining, entertainment and gaming amenities

229,000 square feet of gaming space with 414 tables and 1,166 slots

289 luxury suites Adjusted Property EBITDA and Margin289 luxury suites

Superior return on investment

− All cash flow generated since opening

djusted ope ty a d a g

$50

$70

26%

28%

$60

$80

has been re-invested into Macau ($1.8 billion)

$50

22.4%

24.6%

22%

24%

$40

$60

12

20%$201Q09 1Q10

EBITDA ($mm) EBITDA Margin

The Venetian MacaoCotai Strip, Macau

Opened in August 2007

− Largest building and first true integrated resort in Asia (>10 million square feet)

− Average of 65,000 visits per day since opening

2,900 all-suite rooms

550,000 square feet of gaming space with 598 tables and 2,185 slots

1.2 million square feet of state-of-the-art convention and meeting space

Adjusted Property EBITDA and Margin− Future MICE potential increases with addition of hotel rooms inventory on the Cotai Strip

1 0 million square feet of premium shopping

Adjusted Property EBITDA and Margin

$170

30%

35%

$140

$180

1.0 million square feet of premium shopping in Venice-themed Grand Canal Shoppes

Destination dining - more than 20 restaurants

$121

25.1%

30.9%

25%

30%

$100

$140

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15,000-seat stadium and 1,800-seat theater featuring Cirque du Soleil’s “ZAIA”

20%$601Q09 1Q10

EBITDA ($mm) EBITDA Margin

Four Seasons Hotel Macao and Plaza CasinoCotai Strip, Macau

Boutique luxury integrated resort opened q y g pAugust 2008

Full gaming, leisure and entertainment amenities including three world-class restaurantsrestaurants

360 rooms and 19 Paiza Mansions

70,000 square feet of gaming space with 118 tables and 183 slotstables and 183 slots

211,000 square feet luxury retail mall (connected to The Venetian) featuring Gucci, Louis Vuitton, Chanel and Cartier stores

Adjusted Property EBITDA and Margin25,000 square feet of MICE facilities capable of hosting small and medium-sized events and corporate meetings (11 meeting rooms) $19

20%

25%

$20

$25

Adjusted Property EBITDA and Margin

Luxury Apart-Hotel units branded and serviced by Four Seasons

− Construction is substantially completed$4

9 4%

19.0%

10%

15%

$5

$10

$15

14

9.4%5%$0

1Q09 1Q10EBITDA ($mm) EBITDA Margin

Parcels 5 & 6Cotai Strip, Macau

Land area of over 1.6MM square feet adjacent Phases I and IIPhase IIIq jto a tropical garden of up to 480,000 square feet

Integrated resort of just under 13.3 million square feet (upon completion of all Phases)

Phases I and IIPhase III

square feet (upon completion of all Phases), which will significantly expand our footprint on the Cotai Strip

To be completed in phases

Phases I and II are expected to feature

− Approximately 300,000 square feet gaming space

− Approximately 6,000 hotel rooms

− Portion of over 1 million square feet of retail, entertainment and dining facilities, MICE space and 1 multi purpose theaterMICE space and 1 multi-purpose theater

400,000-500,000 square feet of MICE space constructed, of which 125,000 square feet is expected to be configured for use in Phases I

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p gand II

Note: Artistic impression subject to change. Actual photo taken as of March 2009.

Marina Bay Sands

HOTEL TOWERS & SANDS SKYPARKHOTEL TOWERS & SANDS SKYPARK

EXPO & CONVENTION

CASINO

SHOPPING & DINING

EXPO & CONVENTION CENTER

MUSEUM

THEATERS

SHOPPING & DINING

CRYSTAL PAVILIONEVENT PLAZA

CRYSTAL PAVILION

CRYSTAL PAVILION

Singapore’s Vision

Si I t t d R t O iIn 2006 Singapore awarded licenses to develop two Integrated Resort (IR)

S gapo e s s o

Singapore Integrated Resort OverviewIn 2006, Singapore awarded licenses to develop two Integrated Resort (IR)

destinations

Off d t i l ti (C t l B i Di t i t d S t I l d)− Offered two prime locations (Central Business District and Sentosa Island)

− Locations encouraged complementary IR developments

− Established favorable gaming tax designed to encourage investment

Successfully generated more than S$14 billion of investment for the two IRsSuccessfully generated more than S$14 billion of investment for the two IRs

Enhancing Singapore’s Position as a Leading Business & Leisure Destination

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g

Benefits of Integrated Resort Developments

Positive catalyst for Singapore’s economy

g p

Positive catalyst for Singapore s economy

Create thousands of direct and indirect jobs

Significant contributions to GDP

Enhanced global visibility as an international business and leisure destinationg y

Singapore Tourism Board’s 2015 Projections

Visitation to grow to 15 million visitors

Tourism receipts to grow to S$30 billion

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Marina Bay Sandsy

Preview opening on April 27 2010Preview opening on April 27, 2010

~2,560 rooms in three towers

Rooftop SkyPark with pools and other recreation facilities

161,000 square feet of gaming space

1 3 million square feet of convention and1.3 million square feet of convention and meeting space

800,000 square feet of retail space, including th M i B S d Sh t il llthe Marina Bay Sands Shoppes retail mall

Multiple dining options including six celebrity-chef restaurants

Broadway entertainment, outdoor recreation areas and numerous other amenities

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Marina Bay Sands

Si I t t d R t O i

yPreview Opening – April 27, 2010

Singapore Integrated Resort Overview

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Marina Bay Sands

Si I t t d R t O i

yPreview Opening – April 27, 2010

Singapore Integrated Resort Overview

Gaming Floors 963 Hotel Rooms Dining Amenities

21MICE Space

Marina Bay Sands

Si I t t d R t O i

yOpening Celebration – June 23, 2010

Singapore Integrated Resort Overview

Remaining ~1 600Remaining ~1,600 Hotel Rooms

Additional VIP Gaming Areas

Sands SkyPark

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Celebrity Chefs and Additional Dining Amenities

Marina Bay SandsyProgressively Opening Throughout 2010

Li Ki World’s Largest Lion King o d s a gestLouis Vuitton

Light & Water Show

Sands SkyPark

Additional Retail Space I l di E t t i t

Ice Skating Rink

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Including Entertainment Features ArtScience Museum

Summary FinancialsSummary Financials

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Las Vegas Sands Corp.g pConsolidated Adjusted Property EBITDA1

Adjusted Property EBITDA1 and Margin(US GAAP in US$ millions)

Adjusted Property EBITDA and Margin

$37630%$400

Bethlehem 5%

Bethlehem 3%

$266$280

$315 28.3%

26%

28%$325

Las $266$258

24.8%24.5% 24.8% 24.7% 24%

26%

$250

Macau 69%

Vegas 28%

22%$175

%

20%$1001Q09 2Q09 3Q09 4Q09 1Q10

Adj. property EBITDA¹ EBITDA Margin

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EBITDA Margin Expansion Reflects Right-Sized Cost Structure1. Excludes Other Asia, which is principally CotaiJet operations in Macau

Asia is Our Future

LVS is highly leveraged to the growing economies of North and South Asia

s a s Ou utu e

LVS is highly leveraged to the growing economies of North and South Asia

Geographic distribution of revenue and cash flow streams reflects:

– Our overall investment in Asia of nearly $14 billion

– Growing Asian consumer appetite for leisure and destination resort offerings

LVS Consolidated Adjusted Property EBITDA

2006 2009 The Future of LVS1

US 25%

AsiaUS

US17%

Asia 75%

Asia 55%

US 45% Asia

83%

261. Reflects 2011 analyst consensus estimates

Q & AQ & A

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