Las Vegas Sands has announced that Robert Goldstein is to step down as CEO and chairman of the business and transition to the role of senior advisor.
Goldstein will continue to serve as CEO at Sands until March next year, before moving into his new position. He has agreed to serve as a senior advisor until March 2028, Sands confirmed yesterday (6 March).
In his new role, Goldstein will assist management with government relations activities, efforts to pursue new physical development opportunities and gaming strategies.
The Sands board intends to name Patrick Dumont, currently president and chief operating officer, as the new CEO. This remains subject to final approval.
Replacing Adelson as CEO
Goldstein has led Sands as CEO since January 2021, taking over following the passing of the operator’s founder, Sheldon Adelson.
He initially served in the role on a temporary basis when Adelson took an initial medical leave of absence to undergo treatment for non-Hodgkin’s lymphoma. Adelson died in January 2021, having steered Sands since its founding in 1988.
Prior to becoming CEO, Goldstein worked in a series of roles across the business, having joined Sands in 1995. These include spells as president of global gaming operations and executive vice president, then president and chief operating officer of The Venetian and The Palazzo Las Vegas.
His most recent role before CEO was president and chief operating officer for the casino group. He has also served on the Sands board since January 2015.
Goldstein and his wife, Sheryl, have also been actively involved in many Las Vegas charitable and civic causes over the years. They have served on numerous boards and been generous donors to a variety of organisations, including Opportunity Village, Cleveland Clinic Lou Ruvo Center for Brain Health, Las Vegas.
Sands’ appreciation for Goldstein
Commenting on his departure, Goldstein said that he will continue to support the group’s growth over the coming year and in his new advisory role.
“This company transformed the industry from a gaming-centric model to the integrated resort model,” he said. “Through a different strategic approach in each market, [it] meaningfully changed the tourism landscape in Las Vegas, Macao and Singapore
“I look forward to using the years ahead to help the team build toward another great chapter in this company’s history.”
Miriam Adelson, co-founder and majority shareholder of Sands and Adelson’s widow, paid tribute to the outgoing Goldstein. She spoke of her family’s “great appreciation” for his leadership and contributions to the business.
“He has left an indelible mark on the history of the company and our family will always be thankful for it,” Adelson said. “Sheldon deeply appreciated Rob’s friendship and counsel and he would be very grateful for everything Rob has given over the past three decades.”
Growth at Sands in 2024
The announcement follows a positive 2024 for Sands, during which it reported a rise in both revenue and net profit.
Published in January, the results show revenue for the 12 months to 31 December reached $11.30 billion (£8.76 billion/€10.43 billion). This surpasses the previous year by 9.0%.
