Las Vegas Sands (LVS 1.50%) 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."
