Las Vegas Sands (NYSE:LVS) won't only be investing money into casinos and gambling tables in the near future. The company's board has authorized a new $2 billion stock repurchase program.

Although the firm described the initiative as a "multi-year" effort, it did not specify when, if at all, the program would expire. It did say that it intends to use it "in an opportunistic fashion."

Las Vegas Sands quoted high-profile CEO Sheldon Adelson as saying that "we believe the implementation of our share repurchase program, together with our previously established recurring dividend program, will allow us to maximize returns to shareholders in the years ahead."


Fool contributor Eric Volkman has no position in Las Vegas Sands, and neither does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.