Las Vegas Sands - 1792 Exchange

Rating Overview

Las Vegas Sands is High Risk.

Las Vegas Sands is High Risk. The company yields to political activism in shaping corporate governance, potentially alienating consumers, dividing employees, and harming shareholders. Las Vegas Sands implements race and identity-based policies that replace merit, excellence, and integrity with preferential treatment and outcomes. The company embraces corporate initiatives that redirect its central focus from business goals to partisan policies and divisive issues. This approach fails to safeguard free exercise, free speech, and free enterprise.

Rating Criteria

Corporate Weaponization Risk Levels
Criteria	Risk Level
Cancellations	Medium Risk
Discriminatory Philanthropy	High Risk
Employment Protection	High Risk

Corporate Weaponization ⓘ

Corporate Governance and Public Policy Risk Levels
Criteria	Risk Level
Advocacy Bias	High Risk
Funding	High Risk
Political Actions	High Risk

Corporate Governance and Public Policy ⓘ

Rating Criteria Detail

Criteria Risk Level Rationale

Corporate Weaponization

Criteria:

Has canceled customers, suppliers, or vendors due to their political views or religious beliefs OR corporately boycotts, divests, or sanctions regions, people groups, or industries.

Risk Level:

Medium

Rationale:

Las Vegas Sands received a score of 75 on the 2026 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. The company recruits employees based on sexual identity issues. The company discriminates against vendors that do not promote divisive sex and gender policies, indicating it prioritizes sexual issues over merit (1)(2)(3). The company received a score of 75 on the 2025 Corporate Equality Index (CEI) from the Human Rights Campaign (HRC), a political stakeholder group. The company recruits employees based on sexual identity issues. The company discriminates against vendors that do not promote divisive sex and gender policies, indicating it prioritizes sexual issues over merit (4)(5). Las Vegas Sands integrates ESG into its business practices. From its 2025 ESG Report: “Because of the important role our supply
chain plays in the health of our business
and the responsible performance of our
company, we fully integrate ESG protocols
and standards into our supply chain
management approach” (6). The company integrates ESG into its business practices. From its 2025 ESG Report: the company ties Executive performance measures to ESG, stating that “ESG
targets are included in executive management
compensation, directly linking leadership
incentives to our sustainability and governance
objectives” (7). However, Las Vegas Sands has not canceled customers, suppliers, or vendors based on political views or religious beliefs (8).

Criteria:

Charitable giving (including employee matching programs) policies or practices discriminate against charitable organizations based on views or religious beliefs.

Risk Level:

High

Rationale:

Las Vegas Sands’ HRC 2026 CEI rating indicates the company will not donate to non-religious charities unless they embrace controversial sexual identity policies (1)(2)(3). The company’s HRC 2025 CEI rating indicates the company will not donate to non-religious charities unless they embrace controversial sexual identity policies (4)(5). Las Vegas Sands will not give to “Faith-based or religious organizations” (6).

Criteria:

Employment policies fail to protect against viewpoint or other discrimination and/or are ideological in nature.

Risk Level:

High

Rationale:

Las Vegas Sands’ HRC 2026 CEI rating indicates the company forces employees to attend at least one, controversial training on gender identity, sexual orientation, transgender issues, and divisive racial ideology. The company provides gender transition guidelines for its employees (1)(2)(3). The company’s HRC 2025 CEI rating indicates the company forces employees to attend multiple, controversial trainings on gender identity, sexual orientation, transgender issues, and divisive racial ideology. The company provides gender transition guidelines for its employees and a specific benefits guide with a comprehensive explanation of transgender services funded by the company (4)(5). Las Vegas Sands offers allyship training to its employees (6). The company appears to prioritize diversity over merit in its supply chain. From its 2025 ESG Report: “Supplier Diversity and Inclusion: We enhance opportunities, strengthen
relationships and foster innovation with small, HUBZone and local
businesses, and enterprises that are majority owned by women, minorities,
veterans, and LGBTQ+ and disabled people” Las Vegas Sands appears to prioritize diversity over merit in its business structure through the establishment of gender targets for its leadership composition. The company is seeking “increase representation of women
in management to 45% and junior management to 47% by 2025 as part of
our path to achieving gender parity” (8). The company does not provide viewpoint protections for its employees (9).

Corporate Governance and Public Policy

Criteria:

Uses corporate reputation to support causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Las Vegas Sands’ HRC 2026 CEI rating indicates the company potentially agrees to allow a controversial stakeholder group focused on sexual identity issues to dictate marketing or advertising strategy. By doing so, the company risks dividing employees, alienating customers and harming shareholders (1)(2)(3). The company’s HRC 2025 CEI rating indicates the company agrees to allow a controversial stakeholder group focused on sexual identity issues to dictate marketing or advertising strategy. By doing so, the company risks dividing employees, alienating customers and harming shareholders (4)(5). Las Vegas Sands is aligned with the Paris Agreement, which entails a commitment to net zero carbon emissions by 2050 (6). The company supports DEI within its business practices. From its Diversity Statement: “Corporate Governance: Promote diversity, equity, and inclusion in all aspects of operations and ensure that all
processes that impact DEI issues – both directly and indirectly – support the attainment of diverse, equitable and
inclusive outcomes” (7). Las Vegas Sands supports ESG within its business practices. From its 2025 ESG Report: “Our corporate responsibility platform represents
the strategy we have developed to address the
ESG issues that are most material to our business,
communities and key stakeholders.
Firmly dedicated to being an ESG leader, we execute
on our strategy through the People, Communities
and Planet pillars of our platform” (8).

Criteria:

Uses corporate funds to advance ideological causes, organizations, or policies hostile to freedom of expression.

Risk Level:

High

Rationale:

Las Vegas Sands’ HRC 2026 CEI rating indicates the company has potentially pledged philanthropic support of at least one organization or event that promotes sex and gender ideology. By allowing a political stakeholder group to dictate operations, the company increases health care costs and risks dividing employees, alienating customers and harming shareholders (1)(2)(3)(4). The company’s HRC 2025 CEI rating indicates the company has pledged philanthropic support of at least one organization or event that promotes sex and gender ideology. By allowing a political stakeholder group to dictate operations, the company increases health care costs and risks dividing employees, alienating customers and harming shareholders (5)(6). Las Vegas Sands donated $50,000 to Long Island Pride (7)(8)(9). Otherwise, there are no publicly known cases of the company using corporate funds to advance ideological causes, organizations, or policies (10).

Criteria:

Uses corporate political actions and/or financial contributions for ideological, non-business purposes.

Risk Level:

High

Rationale:

Las Vegas Sands’ HRC 2025 CEI rating indicates the company publicly advocated for controversial sex and gender ideology through local, state or federal legislation or initiatives. By allowing a political stakeholder group to dictate operations, the company risks dividing employees, alienating customers and harming shareholders (1)(2). The company has not used its PAC donations or lobbying for ideological purposes (3)(4)(5).