TLDR TD Asset Management raised its LVS stake by 18.3% in Q3, valuing its position at ~$9.81 million. LVS beat Q4 earnings expectations with EPS of $0.85 vs. $0.77 expected, and revenue of $3.65B — up 26% year-over-year. The quarterly dividend was raised to $0.30 (from $0.25), giving an annualized yield of ~2.1%. Insiders sold roughly 2.61 million shares worth ~$174.5M in the last 90 days, including a 1.2M-share sale by then-CEO Robert Goldstein. Patrick Dumont officially took over as CEO on March 1, with expansion plans in Singapore, Macau, UAE, and North Texas on the agenda.
Las Vegas Sands Corp. is heading into a new chapter. Patrick Dumont became CEO on March 1, replacing Robert Goldstein — a transition that had been telegraphed by the board for some time.
Las Vegas Sands Corp., LVS
Dumont joined the company in 2010, was appointed president and COO in January 2021, and has sat on the board since 2017. He brings more than 25 years of experience across management, development, operations, and corporate finance. He is also the son-in-law of top shareholder Miriam Adelson.
Alongside the CEO role, Dumont was appointed chairman of Sands China Ltd., the company’s Hong Kong-listed subsidiary.
His ties to Texas are well-documented. Dumont is co-owner and governor of the Dallas Mavericks. The Adelson-Dumont family also controls roughly 250 acres in Irving, near the former Texas Stadium site, along with a separate downtown Dallas parcel — both positioned for a potential resort project if Texas legalizes casino gambling.
LVS is actively pursuing a destination-resort casino in North Texas, despite pushback from state political leaders.
The company is also eyeing expansion in Singapore and Macau, and has flagged interest in the UAE as a potential future market if more gaming licenses are issued