-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
 MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 P+AnCrfKvO+P9nv4JlKmpe8w5GxNg/6+HPrzBjFcvam7vE2GHvM6qgSU/ihyF1GP
 PtDh0SKuzL8IajsUgFTYyA==

<SEC-DOCUMENT>0001181431-04-027424.txt : 20040524
<SEC-HEADER>0001181431-04-027424.hdr.sgml : 20040524
<ACCEPTANCE-DATETIME>20040524145628
ACCESSION NUMBER:		0001181431-04-027424
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20040519
FILED AS OF DATE:		20040524

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CLADIANOS PETE III
		CENTRAL INDEX KEY:			0001214966

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14050
		FILM NUMBER:		04826695

	BUSINESS ADDRESS:	
		STREET 1:		345 ARLINGTON AVE
		CITY:			RENO
		STATE:			NV
		ZIP:			89501
		BUSINESS PHONE:		7753482204

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SANDS REGENT
		CENTRAL INDEX KEY:			0000753899
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION [7990]
		IRS NUMBER:				880201135
		STATE OF INCORPORATION:			NV
		FISCAL YEAR END:			0630

	BUSINESS ADDRESS:	
		STREET 1:		345 N ARLINGTON AVE
		CITY:			RENO
		STATE:			NV
		ZIP:			89501
		BUSINESS PHONE:		7023482210

	MAIL ADDRESS:	
		STREET 1:		345 N ARLINGTON AVE
		CITY:			RENO
		STATE:			NV
		ZIP:			89501
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd43480.xml
<DESCRIPTION>FORM 4 DIRECTOR TRANSFER OF COMMON SHARES
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2004-05-19</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0000753899</issuerCik>
        <issuerName>SANDS REGENT</issuerName>
        <issuerTradingSymbol>SNDS</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001214966</rptOwnerCik>
            <rptOwnerName>CLADIANOS PETE III</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>345 N. ARLINGTON AVE</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>RENO</rptOwnerCity>
            <rptOwnerState>NV</rptOwnerState>
            <rptOwnerZipCode>89501</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Secretary</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2004-05-19</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>W</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>10000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>6.52</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>40000</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <ownerSignature>
        <signatureName>/s/Pete Cladianos</signatureName>
        <signatureDate>2004-05-24</signatureDate>
    </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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