Published on: October 28, 2025, 01:16h.
Updated on: October 28, 2025, 01:16h.
- Sales are part of his shift to an advisory role
- He sold 300,000 shares on Monday
- He retains over 4.3 million shares of the casino stock
Robert Goldstein, Chairman and CEO of Las Vegas Sands (NYSE: LVS), divested 300,000 shares of the casino stock on Monday, with plans to potentially minimize or completely divest his equity stake in the gaming giant over the upcoming months.
The sale on October 27 is part of a previously communicated transition strategy where Goldstein will assume the position of senior advisor starting March 1, 2026. This plan was originally disclosed in March.
As part of this transition, Mr. Goldstein plans to sell some or all of his shares in the Company’s common stock for financial diversification, including vested option shares. The specific timing and volume of these sales will be influenced by several factors,” stated a Sands Form 8-K filing with the Securities and Exchange Commission (SEC).
Post the October 27 sale, Goldstein still possesses more than 4.3 million shares in the world’s largest casino operator by market cap.
Clear Succession Plan Satisfies Investors
Goldstein has been with Sands for three decades, and in its publicly traded form, he is the second chairman and CEO, following the late Sheldon Adelson. Goldstein took over these positions in January 2021 after Adelson passed away following complications from a long battle with non-Hodgkin’s lymphoma.
COO and President Patrick Dumont, who also serves as the governor of the Dallas Mavericks, will inherit Goldstein’s titles in March. This well-defined transition plan and Dumont’s familiarity with investors are key reasons the news of Goldstein’s departure did not unsettle shareholders.
While the stock initially fell following the announcement, this was largely due to external factors such as the Trump Administration’s trade tariffs targeting China. In fact, barring unexpected events, Goldstein’s final year at the helm is projected to be robust, evidenced by nearly a 59% increase in stock value over the last six months. Sands affirmed Goldstein’s ongoing confidence in the company’s long-term growth.
“Mr. Goldstein’s faith in the Company’s future remains unwavering, and the stock sales are purely for financial diversification,” as noted in the SEC filing.
Sands Can Smoothly Manage Goldstein’s Share Divestitures
Even if Goldstein decides to fully liquidate his Sands equity, it is expected to occur gradually, as the stock’s liquidity suggests it will not be adversely affected by these sales.
Moreover, the company is anticipated to repurchase significantly more shares than Goldstein sells, having bought around $500 million worth of its stock in the third quarter, bringing its total repurchase activity over two years to around $4 billion.
The board of directors also approved an additional $1.3 billion to the existing $700 million buyback program.