January 27, 2021 Casino, Land-Based

Las Vegas Sands names Robert Goldstein new chairman and CEO

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Las Vegas Sands has named acting Chief Executive Officer Robert Goldstein as its permanent CEO and chairman.

Goldstein takes over following the passing of Sheldon Adelson on Jan. 11. Adelson, 87, died of complications from cancer. Before succeeding Adelson, Goldstein served as president and chief operating officer since July 2015.

Las Vegas Sands has also appointed Patrick Dumont to president and chief operating officer, and Randy Hyzak to chief financial officer. 

Dumont, the son-in-law of Sheldon and Miriam Adelson, previously served as executive vice president and chief financial officer. Hyzak was chief accounting officer. 

"Mr. Adelson's leadership guided us to the top of our industry, and his legacy lives on through the company's 50,000 team members and the iconic properties he developed around the world," said Mr. Goldstein in a company statement. "Our spirits have been dimmer in these few weeks since his passing, but the future of the company he founded shines bright. He would expect nothing less than an aggressive pursuit of the work he started, and I am determined to lead this company forward in a way that best honors his vision."  

The Adelson family remains in control of Las Vegas Sands, with Miriam Adelson responsible for 57% stake in the company. 

Goldstein was seen as the clear frontrunner to take over the reigns of the company. He has worked for Las Vegas Sands since 1995 and in January 2015 he joined the Board of Directors. He previously worked as president of global gaming operations and executive vice president and president and chief operating officer of The Venetian and The Palazzo Las Vega until becoming COO of Las Vegas Sands. 

Goldstein will be tasked with improving the company's revenue numbers, which have suffered from the Covid-19 pandemic. According to Bloomberg, Las Vegas Sands is expected to report a 63% revenue decline for the fourth quarter when results are announced tomorrow.

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