Mark Besca joins Las Vegas Sands board

January 28, 2025

Las Vegas Sands Corp (LVS), an American casino and resort company, has announced the appointment of Mark Besca, a seasoned financial expert with over 40 years of experience, to its Board of Directors. The move comes as LVS navigates shifting market dynamics, including contrasting analyst opinions on its stock performance and growth prospects in Asia.

Among iconic properties like Singapore’s Marina Bay Sands and a huge 72 per cent stake in Macau-based Sands China, the company sees adding Besca as a need to strengthen the financial oversight as well as its strategic planning functions.

Successful career at Ernst & Young

Besca has spent four decades at Ernst & Young (EY), serving as a senior advisor to Fortune 500 companies across industries such as media, consumer products, and airlines.

From 2012 to 2018, Besca held the role of Managing Partner at EY’s New York City office. He later led EY’s Long-Term Value and Stakeholder Capitalism initiative from 2017 to 2020. His retirement in 2020 capped a career marked by leadership, financial expertise, and strategic insight.

LVS stated that Besca’s compensation package includes an annual retainer of $150,000, restricted stock units worth $175,000 annually, and a one-time stock option grant of $100,000.

LVS stock outlook

While Besca’s appointment is a positive step, LVS faces mixed reviews from analysts regarding its stock performance.

Morgan Stanley recently downgraded LVS stock from “Overweight” to “Equalweight,” pointing to economic challenges in China and slowing growth in Singapore. The concerns align with broader economic uncertainties in Asia, impacting LVS’s key markets.

Conversely, Jefferies upgraded the stock from “Hold” to “Buy,” citing improving conditions in Macau. The company’s iconic resorts in the region, including The Venetian Macao and The Parisian Macao, are expected to benefit from easing disruptions linked to ongoing renovations.

JPMorgan echoed a more optimistic view, raising its price target for LVS shares to $62.00 while maintaining an “Overweight” rating. The firm predicts higher EBITDA growth in 2025 as upgrades at The Londoner Macao near completion.

Strengthening leadership for strategic growth

The addition of Besca in LVS’s leadership team seems to reflect that the company has made up its mind to conquer financial and operational issues with accurate precision. While Sands China leads Macau and Marina Bay Sands retains its top destination resort status in Singapore, LVS is definitely one of the leading tourism and entertainment players worldwide.

Besca’s expertise in stakeholder capitalism and long-term value creation aligns with LVS’s efforts to drive sustainable growth. His leadership experience will likely help the company address complex financial landscapes while staying focused on shareholder value.