Goldstein to Be Replaced by Dumont as Sands CEO in 2026

Posted on: March 6, 2025, 05:44h. 

Last updated on: March 7, 2025, 09:44h.

Todd Shriber @etfgodfather Read More
Expertise: Financial, Gaming Business, Mergers and Acquisitions.
  • Sands chief executive officer to transition to senior advisor role in March 2026
  • Current COO and President Dumont likely to take the helm

Las Vegas Sands (NYSE: LVS) announced Thursday that Chairman and CEO Robert Goldstein will move to the role of senior advisor on March 1, 2026. The casino operator added that its board of directors intends to nominate COO and President Patrick Dumont to take on the roles currently held by Goldstein.

Rob Goldstein
Las Vegas Sands Chairman and CEO Rob Goldstein is stepping down from those roles on March 1, 2026. (Image: Bloomberg)

Goldstein joined Sands 30 years ago and in the company’s current, publicly traded form, he’s the only other chairman and chief executive officer it’s known besides the late Sheldon Adelson. Goldstein assumed those titles in January 2021 after Adelson passed away from complications stemming from a lengthy battle with non-Hodkinson’s lymphoma.

He joined Sands prior to the opening of the Venetian Las Vegas, which at the time was one of the most expensive from-the-ground-up casino projects in gaming industry history. Goldstein is also widely viewed as one of the primary architects of Adelson’s vision to steer Sands away from a dependence on gaming to an industry-altering embrace of the integrated resort model.

In late 2014, after having served as president of global gaming operations, Mr. Goldstein was named the company’s president and chief operating officer and continued to work closely with Mr. Adelson and the leadership teams in Las Vegas, Macao and Singapore,” according to a statement.

Dr. Miriam Adelson, the largest Sands shareholder, and Dumont’s mother-in-law, commended Goldstein’s leadership, noting 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 Oversaw Marquee Sands Transactions

Although he wasn’t considered a “face” of the company on par with other famed gaming executives, such as Sheldon Adelson or Steve Wynn, Goldstein was the driving force behind some of the most transformative transactions in LVS history.

In 2004, he steered the company’s efforts to sell its retail space in the Venetian and Palazzo — a transaction that generated $1.5 billion in proceeds while representing one of the earlier iterations of gaming industry real estate monetization.

Several years later, he oversaw the development of Sands Bethlehem, which would go on to become the highest-grossing regional casino in the US. The operator sold that venue to the Poarch Creek Indians in 2019 for $1.3 billion.

Two years later, Goldstein held the titles of chairman and chief executive officer for less than two months when Sands announced the sale of the Venetian Resort and Sands Expo and Convention Center on the Strip for $6.25 billion – a transaction that marked the operator’s gaming departure from the city it calls home.

He agreed to stay on as senior advisor through March 2028.

Dumont Likely Taking Over

Dumont makes for a predictable choice to replace Goldstein and the ensuing continuity could be applauded by investors. Shares of Las Vegas Sands barely moved in after-hours trading, indicating news of Goldstein’s departure isn’t adversely affecting the stock.

Dumont joined Sands in June 2010 and was named chief financial officer in March 2016. He became president and chief operating officer in January 2021 amid the executive shuffle following Adelson’s death.

He’s also the governor of the Dallas Mavericks – the NBA franchise he owns along with his mother-in-law. Dumont is familiar to analysts and Las Vegas Sands investors, and is a frequent, vocal participant on the company’s earnings calls.