Robert Goldstein (pictured) is to exit from March 1, 2026 his current roles as chairman and chief executive of casino operator Las Vegas Sands Corp and of its Macau unit Sands China Ltd, the two companies said in respective filings in the United States and Hong Kong.
He will then take on a two-year advisory role to Las Vegas Sands up to March 2028, for an annual consulting fee of US$4.5 million, in what would be his “sole position with the company and its subsidiaries,” said the U.S. filing.
The filing stated: “Mr Goldstein will assist management with its government relations activities, efforts to pursue new physical development opportunities and the company’s gaming strategies.”
The announcement said the Las Vegas Sands’ board intended to appoint Patrick Dumont, currently president and chief operating officer, as chairman and CEO. Mr Dumont is also a son-in-law of the group’s late founder, Sheldon Adelson.
The update said Mr Goldstein had started working with Mr Adelson in 1995. He took over as chairman and CEO of Las Vegas Sands after the death of Mr Adelson in January 2021. Before that, Mr Goldstein had been president and COO of Las Vegas Sands starting from the end of 2014.
“Sheldon deeply appreciated Rob’s friendship and counsel, and he would be very grateful for everything Rob has given over the past three decades,” said Miriam Adelson, majority shareholder of Las Vegas Sands and Mr Adelson’s widow, as cited in the announcement.
“As one of the first employees of the company, our family has great appreciation for Rob’s leadership and the many contributions he’s made over the years,” she added. “He has left an indelible mark on the history of the company, and our family will always be thankful for it.”
Mr Goldstein was quoted commenting on the “integrated resort” model for casino business – including not just gambling but also meeting space, events arenas and shopping malls – which the company says it pioneered in Las Vegas, Nevada, in the United States.
“In the beginning, we were counted out more times than I can count,” Mr Goldstein said. “All these years later it is clear the opening of The Venetian was a turning point in the history of the Las Vegas Strip.”
He added: “Sheldon was widely criticised at the time, but his vision and the work we started together 30 years ago has more than stood the test of time.”
Mr Goldstein stated: “This company transformed the industry from a gaming-centric model to the integrated resort model and, through a different strategic approach in each market, meaningfully changed the tourism landscape in Las Vegas, Macau and Singapore.
In the Singapore market – where the group recently completed a circa US$9 billion refinancing – Las Vegas Sands runs the Marina Bay Sands resort, one half of Singapore’s casino duopoly.
Mr Goldstein also successfully led the parent group through a bidding process for a fresh 10-year gaming concession in Macau, with the new rights starting in January 2023.
The parent firm is currently being linked by analysts with a possible bid for the Thailand market, if as expected, that nation legalises casino business this year. Mr Goldstein had previously told GGRAsia that the Thailand market was a “watch and wait” situation.
