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Sands CEO Patrick Dumont Remains Bullish on Macau, Has No Interest in Prediction Markets
Posted on: October 12, 2026, 04:55h.
Last updated on: October 11, 2026, 02:55h.
Key Points
- Las Vegas Sands CEO Patrick Dumont remains bullish on Macau despite four consecutive months of declining gaming revenue, citing the value of tourism and stronger US-China relations
- Sands China invested about $3.5 billion in non-gaming attractions, hotel renovations, convention space, and entertainment under its 10-year casino license extension
- Dumont also reaffirmed Sands’ opposition to digital gambling, saying the company will continue prioritizing in-person hospitality over online betting and prediction markets
Gaming revenue in Macau has slowed for four consecutive months, but Las Vegas Sands Chairman and CEO Patrick Dumont isn’t worried. Speaking recently with Bloomberg at The Venetian Macau, Dumont said the world’s largest gambling firm by market capitalization remains bullish on the Chinese gambling hub.
Dumont is a board member of the U.S.-China Business Council and believes strengthening relations between the world’s two largest economies is in the best interest of all. Dumont is optimistic that positive change can occur in the coming years.
The economies of both countries can benefit from better relations, more investment, and better exchange. So, in the long run, hopefully we’ll be the beneficiaries of that, because tourism is a great industry; it brings people together. Investing in Macau is something that we look forward to doing,” Dumont said.
Dumont explained that Sands’ billions of dollars in non-gaming investments in Macau, which were mandated in December 2022 when the Macau Special Administrative Region (SAR) Government granted the six casinos 10-year license extensions, create new experiences, drive repeat visitation, and lure in new visitors.
Sands Non-Gaming Investments
Sands, operating in Macau as Sands China, agreed to invest about $3.5 billion in non-gaming projects as part of the 10-year gaming license extension.
Sands spent the money on expanding The Venetian’s Cotai Expo with almost 200,000 square feet of additional space. The Venetian Arena underwent a “meaningful reinvestment and upgrade,” and The Londoner developed a 538,000-square-foot conservatory and garden.
Sands also renovated all 2,900 suites at The Venetian and upgraded thousands of rooms at The Londoner.
The Venetian Arena hosted the NBA Houston Rockets and Dallas Mavericks on Friday (Oct. 9) and Sunday (Oct. 11) for two NBA preseason games. Dumont, with his mother-in-law, billionaire Dr. Miriam Adelson, owns a controlling majority stake in the Mavs.
Dumont Rejects Prediction Markets
Sands has historically opposed digital gaming, with the company’s founder and longtime chairman and CEO Sheldon Adelson a steadfast foe of online casinos. The late Adelson famously quipped in a 2013 op-ed, “Click your mouse, lose your house.”
Sands has refrained from investing in iGaming and sports betting, including mobile sportsbooks. Dumont said the company’s stance isn’t changing with the rise of prediction markets, online platforms that allow traders to stake money on the outcome of various events, including sports.
We’re very much about people-to-people interaction. It’s about the experience you get live. You show up in our building, you have a great dinner, you stay in a wonderful hotel, you have live entertainment. It’s a completely different experience than what you would get looking at your phone,” Dumont said.
Dumont said prediction markets aren’t a business Sands is or wants to be in.
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