Rob Goldstein, Chairman and CEO of Las Vegas Sands, sold 60,187 shares of the company, generating proceeds of nearly $3.2 million, as per a Tuesday filing. The shares were sold at a price of $53.02 each and were held indirectly through the Robert and Sheryl Goldstein Trust, reported by GGR Asia.
Las Vegas Sands, the parent company of Sands China Ltd., a major Macau casino operator, and Marina Bay Sands in Singapore, has seen notable growth in its stock price, which surged by approximately 22% between June and late November. The company’s stock closed at $53.15 on November 29, just slightly higher than the price at which Goldstein sold his shares.
Despite the positive stock performance, Las Vegas Sands reported a decline in its third-quarter financial results. The company posted a net income of $275 million, a decrease of 27.6% compared to the same period last year. Net revenue for Q3 was $2.68 billion, down from $2.80 billion in Q3 2023.
In terms of shareholder returns, Las Vegas Sands declared a quarterly dividend of $0.20 per common share during Q3 and announced another quarterly dividend of $0.20 per share, payable on November 13 to stockholders of record as of November 5.
Goldstein’s stock sale comes at a time when the company has faced both positive market sentiment and a challenging financial environment.