Billionaire businessman Sheldon Adelson was an icon in the Las Vegas casino industry. At the age of 87, he passed away on Jan. 11 from complications in his treatments for non-Hodgkin’s Lymphoma.
Adelson’s death created a void at Las Vegas Sands as chairman and CEO. The company’s founder remained active in the day-to-day operations into early January of this year.
Long-time company executive Robert Goldstein was elevated to acting CEO on Jan. 7 and he will now assume that role on a permanent basis according to a recent company press release. Goldstein was also appointed the new Chairman of the Board.
In other senior management personnel moves, former Executive Vice President Patrick Dumont was elevated to the position of LV Sands’ President and Chief Operating Officer. Randy Hyzak will assume the role of Chief Financial Officer after serving as the company’s Chief Accounting Officer.
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It appears to be business as usual at the largest casino gaming company in the world. With Adelson so ingrained in the company’s affairs right up until his death, many of his current initiatives remain on track under the new executive management team.
Mr. Goldstein released the following comments concerning former mentor and boss:
“Mr. Adelson’s leadership guided us to the top of our industry, and his legacy lives on through the company’s 50,000 team members and the iconic properties he developed around the world. Our spirits have been dimmer in these few weeks since his passing, but the future of the company he founded shines bright.”
He went on to add:
“He would expect nothing less than an aggressive pursuit of the work he started, and I am determined to lead this company forward in a way that best honors his vision.”
Mr. Goldstein’s tenure with LV Sands started in 1995. He worked his way through the ranks to become the company’s President and Chief Operating Officer twenty years later. He was also added to the Board of Directors in 2015.
Over the years, he served as the president of global gaming operations. He was also the executive vice president of The Venetian and The Palazzo as LV Sand’s two high-profile casinos on the Las Vegas Strip. From that position, he moved into the role of president and COO of those two casino properties.
Patrick Dumont was also quoted in the company release. He added the following perspective:
“Mr. Adelson established the roadmap for the future of this company, and that roadmap is unchanged. I am dedicated to working with Rob and our leadership team to make our strategic objectives a reality.”
One of the top corporate objectives on the slate is to bring legal Texas casinos. Mr. Adelson views this state as an excellent opportunity for expansion within the US market.
One of his last initiatives was to hire lobbying firms in Austin to pursue that cause through the state legislative process. As a major contributor to the Republican party, he sought to leverage that influence to move the issue of legal casinos forward on the 2021 agenda.