Long -term Las Vegas Sands -Managing Director Robert Goldstein will switch from his position as chairman and CEO of the company to a senior adviser role next year, Sand’s officials announced on Thursday.
The transition will occur on March 1, 2026 and Goldstein has agreed to serve as a senior adviser until March 2028.
In that role, he will help management with its government relationships, efforts to conduct new opportunities for physical development and the company’s gaming strategies, says the company.
Sand’s board intends to name Patrick Dumont, the company’s president and the CEO, as chairman and CEO at Goldstein’s transition to his new role.
In a submission of the Securities and Stock Exchange Commission on Thursday, Sand’s details gave Goldstein’s employment contract modification and said he would receive $ 4.5 million per year as adviser for the semester for that contract.
“As one of the first employees in the company, our family has great appreciation for Rob’s leadership and the many contributions he has made over the years,” Dr. Miriam Adelson, co -founder and majority shareholders in Sands. “He has left an indelible mark on the company’s history, and our family will always be grateful for that. (Co -founder) Sheldon (Adelson) appreciated deep Rob’s friendship and advice, and he would be very grateful for everything Rob has given over the past three decades. “
During his time with Sands, Goldstein has led to efforts to develop the large channel buyers at Venetian, constructed business with Madison Square Garden Co. To bring the sphere to Las Vegas, was a key voice in the negotiations to build Allegiant Stadium and bring raiders and National Football League to the city and worked closely to the development in Maca and Singapore.
On the entertainment and cultural side, Goldstein was instrumental to bring top level Broadway show, Guggenheim Hermitage exhibitions, game-changing food concepts and a Tao nightclub for Las Vegas.
“This company transformed the industry from a gaming centric model into the integrated resort model and, through another strategic strategy in each market, changed meaningful tourism landscape in Las Vegas, Macao and Singapore,” Goldstein said. “I have been lucky enough to work with a fantastic team of people over the years, and I want to specifically express my gratitude to Sheldon for his support and friendship. I also want to thank Dr. Adelson. I look forward to using in the coming years to help the team build against another good chapter in this company’s history. “
Many doubt
Goldstein recalled that he and Adelson showed doubt wrong with some of Sand’s concept.
“In the beginning we were calculated more times than I can count,” Goldstein said. “All these years later, it is clear that the opening of Venetian was a turning point in the Las Vegas strip. Sheldon was generally criticized at that time, but his vision and the work we started together 30 years ago have more than stood the test of the time. “
Goldstein joined the company before the opening of Venetian Las Vegas and was involved in its development, and finally became president when it opened in 1999. While Venetian was built, Goldstein had many responsibilities including building the property’s playing activities and its operations. He was also a leading CEO to develop the Grand Canal Shoppes, the property’s large retail gallery. He attracted new retail brands to the market together with important lifestyle brands, such as Canyon Ranch Spa. His efforts also provided an impressive list of celebrity chef restaurants, a model that was relatively new at that time.
At the time of its construction, many industry observers predicted the hotel with 3,000 rooms, which were built to meet business travelers and participants in the conference during the week and leisure visitors on weekends, would be less than successful.
During his time as president and chief manager for Venetian and Palazzo from 1999 to 2010, Goldstein was responsible for many important milestones for real estate, which also had a broader impact on the strip.
In 2004, Goldstein led the company’s efforts to sell its retail offers in Venetian and it did not yet open Palazzo for $ 1.5 billion. Industry analysts at that time promised sales as a “landmark agreement” for the value of Las Vegas Strip Land – sales also led to investments in Las Vegas properties in a broader context overall. Later that year he was present when Sands was traded publicly for the first time at the New York Stock Exchange, where it would be the most valuable company in its industry based on market value.
Review-Journal is owned by the Adelson family, including Dr. Miriam Adelson, majority shareholder in Las Vegas Sands Corp. And Las Vegas Sands President and Coo Patrick Dumont.
This is a developing story. Come back for updates.
Contact Richard N. Velotta at rvelotta@ theplayerlounge.com or 702-477-3893. Follow @rickvelotta at X.
