PRESIDENT AND COO
Las Vegas Sands
POWER SCORE: 1,102
POSITION LAST YEAR: ONES TO WATCH
CLAIMS TO FAME
- Son-in-law of company founder Sheldon Adelson
Has long been groomed to assume LVS leadership role
IT CAME AS no surprise when Patrick Dumont was promoted to the role of President and Chief Operating Officer of global casino giant Las Vegas Sands following the death of founder Sheldon Adelson in January.
Married to Sivan Ochshorn, the daughter of Adelson’s widow Miriam Adelson, Dumont has been part of the Sands team since 2010. Appointed SVP of Finance and Strategy in 2013 and Chief Financial Officer in 2016, he joined the board in 2017 and alongside Adelson and Rob Goldstein was part of the triumvirate that had led LVS forward in the years preceding Adelson’s passing.
Now working hand-in-hand with Goldstein – the company’s new Chairman and CEO – Dumont has wasted no time in playing his cards aggressively. In March, LVS announced that it had reached an agreement to sell its Las Vegas assets, including The Venetian Resort Las Vegas and Sands Expo and Convention Center, for US$6.25 billion, turning its focus instead to new expansion opportunities, particularly in Asia.
Although LVS hasn’t revealed its own cards just yet, Dumont told investors in April that those opportunities would include greater investment in the company’s current markets of Macau and Singapore, and could see it increase its stake in Sands China.
Other long-term opportunities may include Thailand, should it follow through with proposals to legalize casino gaming, and Japan. LVS withdrew from Yokohama in 2020 citing regulatory impediments but has stated it would consider returning should such challenges be addressed.
A former investment banker at Miller Buckfire and Bear Stearns, Dumont holds a Bachelor of Science in Mechanical Engineering from Johns Hopkins University and a Master of Business Administration from Columbia Business School.
For the full list of 2021 Asian Gaming Power 50 winners, click here.
RelatedPosts
