CLAIMS TO FAME
- Assumed global leadership in 2021 following passing of Sheldon Adelson
- Oversaw disposal of company’s Las Vegas assets
Another chapter in the long and intriguing novel that is the Las Vegas Sands Corp (LVS) story will close on 1 March 2026 when long-time senior executive Robert Goldstein steps down as Chairman and CEO.
LVS announced in March that Goldstein would transition to a Senior Advisor role early next year, with current President and COO Patrick Dumont set to replace him in the top job.
Following the passing of company founder Sheldon Adelson in 2021, the departure of Goldstein will represent another significant upheaval to the executive team at a time when LVS is locked in key strategic moves surrounding its future expansion plans.
He was, after all, one of LVS’s first employees, joining Adelson in 1995 prior to the opening of The Venetian Las Vegas and becoming the property’s president when it opened in 1999. He also played a key role in building the property’s gaming business, developing retail mall the Grand Canal Shoppes and introducing game-changing dining concepts including an impressive roster of celebrity chef restaurants. Goldstein, who was central to LVS’s expansion to Macau and Singapore, was named President and COO in 2014 and assumed the top Chairman and CEO position following Adelson’s passing four years ago.
Not that impending retirement has slowed him or the company down. Only months ago, its flagship Singapore resort Marina Bay Sands broke ground on a massive US$8 billion expansion that Goldstein believes can propel the property to annualized EBITDA of US$3 billion. Incredibly, the property’s 3Q25 results already have MBS on track for that target even before expansion, with EBITDA of US$743 million taking profit for the first nine months of 2025 to more than US$2.1 billion.
Macau is proving more problematic, with Goldstein highlighting in a recent earnings call that Sands China was underperforming – mainly because the company had failed to match its peers when it comes to investing back into its customers. Despite completing its multi-billion-dollar renovation of The Londoner Macao and The Venetian Arena, the 68-year-old said Sands would instead adopt a significantly more aggressive approach to customer reinvestment – noting that he expects The Londoner Macao and The Venetian Macao to generate annual EBITDA of US$2 billion each. Just a little pressure to hand off to Dumont next year.
Goldstein has certainly made his mark since assuming the top job in 2021. It was under his watch that LVS sold off its entire Las Vegas portfolio – comprising The Venetian Las Vegas, The Palazzo and The Venetian Expo – for US$6.25 billion. He also took the dramatic step of delving into the online gaming space – an area Adelson had famously rallied against during his many years in charge. Only recently – and likely due to Dumont’s influence – has LVS reneged on that idea.
On other expansion initiatives, LVS earlier this year withdrew from the New York casino licensing process but continues to push the case for legislation in Texas. Goldstein says the company also has its eyes on Thailand should that opportunity ever rear up again.
In the meantime, he leaves the company in better shape than ever: still sitting on a healthy war chest of billions and counting many of the world’s most profitable casino resorts among its global assets. An envious position indeed.
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