Las Vegas Sands (NYSE: LVS) said Thursday that Chairman and CEO Robert Goldstein will step into a senior advisor role on March 1, 2026. The company added that its board plans to nominate President and COO Patrick Dumont to assume the chairman and chief executive roles.
Goldstein has spent three decades at Sands and, since the company went public, has been one of only two individuals to serve as both chairman and CEO, alongside the late founder Sheldon Adelson. He took over those positions in January 2021 following Adelson’s death after a long battle with non-Hodgkin’s lymphoma.
His tenure with Sands began before the opening of the Venetian Las Vegas, then among the most expensive ground-up casino developments in gaming history. Goldstein is widely credited as a key architect of Adelson’s strategy to reduce reliance on gaming revenue and champion the integrated resort model that reshaped the industry.
In late 2014, after serving as president of global gaming operations, Goldstein was appointed president and chief operating officer, continuing to work closely with Adelson and leadership teams in Las Vegas, Macao, and Singapore, the company noted in a statement.
Dr. Miriam Adelson, Sands’ largest shareholder and Dumont’s mother-in-law, praised Goldstein’s leadership, saying her late husband “deeply appreciated Rob’s friendship and counsel, and he would be very grateful for everything Rob has given over the past three decades.”
Goldstein Led Landmark Sands Transactions
While never a public-facing executive on the level of Adelson or Steve Wynn, Goldstein played a central role in some of the most consequential transactions in Sands’ history.
In 2004, he guided the sale of retail space at the Venetian and Palazzo, generating $1.5 billion in proceeds and standing as an early example of real estate monetization in the gaming sector.
He later oversaw the development of Sands Bethlehem, which became the highest-grossing regional casino in the US before being sold to the Poarch Creek Indians in 2019 for $1.3 billion.
In 2021, less than two months into his tenure as chairman and CEO, Sands announced the $6.25 billion sale of the Venetian Resort and Sands Expo and Convention Center on the Las Vegas Strip, marking the company’s exit from gaming operations in its hometown.
Goldstein has agreed to remain with the company as senior advisor through March 2028.
Dumont Poised to Take the Helm
Dumont’s elevation appears to be a natural succession move, one that may be welcomed by investors seeking continuity. Las Vegas Sands shares were largely unchanged in after-hours trading, suggesting limited market concern over the leadership transition.
Dumont joined Sands in June 2010, became chief financial officer in March 2016, and was promoted to president and chief operating officer in January 2021 following Adelson’s passing.
He also serves as governor of the Dallas Mavericks, the NBA team he owns with his mother-in-law. Well known to analysts and investors, Dumont is a regular and outspoken presence on Las Vegas Sands’ earnings calls.
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