Robert Goldstein appointed Las Vegas Sands CEO

NEW YORK • Las Vegas Sands, owner of Marina Bay Sands in Singapore, named acting chief executive Robert Goldstein as permanent CEO following the death of Sheldon Adelson, founder of the casino empire.

Mr Goldstein, 65, will assume the role of chairman as well, Sands said on Tuesday. The company also promoted two long-time executives: Mr Patrick Dumont, previously executive vice-president and finance chief, was named president and chief operating officer. Mr Randy Hyzak was promoted to succeed him as chief financial officer.

The appointments were triggered by the death of Mr Adelson, 87, earlier this month from complications of cancer. Mr Adelson earlier took leave from his posts atop the company for treatment.

The company remains firmly in the hands of its founding family, with Dr Miriam Adelson, Mr Adelson's widow, controlling the bulk of the family's 57 per cent stake in the company. Mr Dumont, who has been with the company since 2010, is her son-in-law. Mr Goldstein joined the company in 1995, while Mr Hyzak came aboard in 2016 as chief accounting officer.

Like other casino operators, Sands has been hobbled by the global coronavirus pandemic.

It was expected to report a 63 per cent drop in revenue for the fourth quarter in results to be announced yesterday.

The company's resorts around the world closed for several weeks last year due to the coronavirus, and - even with customers starting to come back - business at casinos in Las Vegas, Singapore and Macau remains well below pre-pandemic levels.

Sands also contemplated selling its Las Vegas resorts last year, if the company could get the US$6 billion (S$7.95 billion) price it was looking for. But no buyers have emerged.

In another shift, Mr Goldstein has been talking to potential partners about a role for Sands in sports betting, either by licensing its brands or building its own online platform. Mr Adelson had been a staunch opponent of online betting on moral grounds.

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Mr Robert Goldstein, 65, will assume the role of chairman as well, the casino empire said yesterday.

A version of this article appeared in the print edition of The Straits Times on January 28, 2021, with the headline 'Robert Goldstein appointed Las Vegas Sands CEO'. Subscribe