This past March, Las Vegas Sands (LVS) reported to the U.S. Securities and Exchange Commission (SEC) that it needed more time to repay its loans. It extended the term loans of its Marina Bay Sands casino in Singapore by about three and a half years, pushing the payoff date to March 29, 2024. Revolving loans held by the company that were expected to expire on February 28, 2020 were also pushed back, with a new maturity date of March 29, 2024. Now, the company has once again indicated a change in loans, saying that it will increase a term loan by around $1.35 billion.

LVS indicated in a statement that the increase was needed, in part, to fund a share buyback program, which is also going to be increased. The buyback program will rise from $1.56 billion to $2.5 billion, and will see its expiration date extended.

In the statement, LV CEO and chairman Sheldon Adelson said, “Our company has the financial strength to continue enhancing our industry-leading efforts to return capital to our shareholders. At the same time, we are able to maintain the flexibility needed to heavily reinvest in our current portfolio of properties and also pursue and ultimately develop new multi-billion dollar integrated resorts in key markets around the world. This is another example of our company continuing to execute on our core strategic initiatives.”

LVS owns several casinos in the U.S., as well as the casino in Singapore. The company owns The Venetian and the Palazzo on the Las Vegas Strip, as well as the Sands Casino Resort Bethlehem in Bethlehem, Pennsylvania. It is the majority owner of Sands China Ltd. based in Macau. Sands China operates a number of casino resorts around the area, including The Venetian Macao, The Plaza Macao, Sands Cotai Central, Sands Macao and The Parisian Macao.