CLAIMS TO FAME
- Son-in-law of late company founder Sheldon Adelson
- Will become LVS Chairman and CEO in March 2026
Patrick Dumont will complete his rise through the ranks of global gaming giant Las Vegas Sands (LVS) in March when he replaces outgoing Chairman and CEO Rob Goldstein in the top job.
It’s been steady progress for Dumont ever since the former investment banker first joined LVS in 2010. He was appointed SVP of Finance and Strategy in 2013 and Chief Financial Officer in 2016 before joining the board in 2017 and ultimately becoming President and COO following company founder Sheldon Adelson’s passing in 2021.
Married to Sivan Ochshorn, the daughter of Adelson’s widow and major shareholder Miriam Adelson, Dumont has close family ties and as such has been trusted as the man to take the company forward. Notably, he and the Adelson family jointly purchased NBA team the Dallas Mavericks in 2023 in a move seen as a subtle power play aimed at one day having casino legislation pass in the state of Texas.
But he has also been much more front and center in recent months, taking on a far greater media role and spearheading subsidiary Sands China’s efforts to bring the NBA back to Macau – efforts that ultimately proved successful.
It has also been rumored that it is Dumont behind a decision by LVS to abandon its adolescent online gaming arm, bringing the group back in line with the views of the late Sheldon Adelson who was so famously anti-online gambling.
Dumont is taking over a behemoth. LVS’s Singapore resort, Marina Bay Sands, is still considered the most profitable casino in the world and in the June quarter alone generated a whopping US$768 million in Adjusted EBITDA. A US$8 billion expansion that broke ground months ago could rocket that figure into the stratosphere.
The company is also the market leader in Macau (recent underperformance aside) with its five properties – The Londoner Macao, The Venetian Macao, The Parisian Macao, Sands Macao and The Plaza Macao – boasting more than 12,000 hotel rooms and over 150 F&B outlets between them.
It will be interesting to see how Dumont approaches future expansion as the company’s top dog. LVS remains firmly fixed on Texas but was one of the first to withdraw from the New York bid process – as it was in Japan – and has shown only fleeting interest in Thailand.
Still, with a huge war chest still at his disposal following the US$6.25 billion sale of the company’s Las Vegas assets in 2022, the options are endless.
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