Las Vegas Sands CEO Goldstein Divests $5.2M in Company Shares

Recently, Robert Goldstein, Las Vegas Sands’ chief executive officer (CEO), divested a number of his shares in the company. The sale involved 100,000 shares of Class A common stock in the Las Vegas Sands, a Form 144 filing with the Securities and Exchange Commission (SEC) reveals. The SEC filing confirms that the 100,000 shares have an aggregate market value of $5,236,000. The divestment of shares was completed last Friday.

Despite the sale, Goldstein remains a major shareholder in Las Vegas Sands. According to the SEC filing, after the sale, he has 764,271,386 remaining shares in the company. Considering the current share price, the CEO’s share is evaluated at nearly $390 million.

The recent filing discloses that the 100,000 shares recently sold were obtained through compensations of the executive between 2015 and 2024. The sale of shares usually signals potential headwinds a company may expect in the near future in some cases. In other cases, senior-level executives divest shares to gain access to cash.

Goldstein did not disclose a reason for the sale of the shares valued at $5.2 million. The SEC Form 144 includes details regarding the number of sold and outstanding shares, as well as the aggregate market value, among other details, but doesn’t confirm a reason for the sale.

More Gaming Executives Sold Company Shares Recently

It was nearly three decades ago when Goldstein first joined Las Vegas Sands. Throughout his career, he held a number of senior-level roles, including chief operating officer and president. Moreover, Goldstein has held other C-suite positions such as president of global gaming.

In 2021, after the passing of Sheldon Adelson, Las Vegas Sands’ founder, famous philanthropist and Las Vegas visionary, Goldstein was appointed to the role of CEO, a position he continues to hold to this day.

It is not uncommon for gaming executives to sell portions of their shares. As noted, such divestments can help them gain access to cash while offloading shares at the same time.

Back in February, DraftKings executives sold nearly $80 million worth of company shares. The transactions involved Jason Robins, Paul Liberman and Stanton Dodge, who sold a combined $78.8 million worth of company stock. This became evident thanks to Form 144 filings disclosed by DraftKings toward the end of January and in early February.

In a similar move, again last month, Wynn Resorts’ executives sold $3 million in company stock. The divestment was completed by Craig Billings, Wynn’s CEO, Julie Cameron-Doe, the company’s chief financial officer and director Elizabeth P. Mulroy. The three executives sold close to $3 million in Wynn shares. Similar to other executives who completed such transactions, the trio did not confirm a reason for the divestment.