Mr. Goldstein joined Sands Founder Sheldon G. Adelson in 1995 and has been
instrumental in the company's many successes over the past 30
years
LAS
VEGAS, March 6, 2025 /PRNewswire/ -- Las Vegas
Sands (NYSE: LVS) announced today that Robert G. Goldstein, its chairman and chief
executive officer and long-time senior executive, will transition
to the role of senior advisor on March 1,
2026. Mr. Goldstein has agreed to serve as a senior advisor
through March 2028. In that capacity,
Mr. Goldstein will assist management with its government relations
activities, efforts to pursue new physical development
opportunities and the company's gaming strategies.
"This company transformed the industry from a gaming-centric
model to the integrated resort model and, through a different
strategic approach in each market, meaningfully changed the tourism
landscape in Las Vegas,
Macao and Singapore. I've been fortunate to work with a
great team of people over the years, and I specifically want to
express my gratitude to Sheldon for his support and friendship. I
would also like to thank Dr. Adelson. I look forward to using the
years ahead to help the team build toward another great chapter in
this company's history," Mr. Goldstein said.
Mr. Goldstein joined the company prior to the opening of The
Venetian Las Vegas and was intricately involved in its development,
ultimately becoming president when it opened in 1999. While The
Venetian was being constructed, Mr. Goldstein had numerous areas of
responsibility including building the property's gaming business
and its operations. He was also the lead executive responsible for
developing the Grand Canal Shoppes, the property's large retail
mall. He attracted new retail brands to the market along with
important lifestyle brands, such as Canyon Ranch Spa. His
efforts also brought game-changing dining concepts and an
impressive roster of celebrity chef restaurants, a model that was
still relatively new at the time.
At the time of its construction, many industry observers
predicted the all-suite 3,000-room hotel, which was built to cater
to business travelers and convention attendees during the week and
leisure visitors on the weekends, would be less than
successful.
"In the beginning, we were counted out more times than I can
count," Mr. Goldstein said. "All these years later it is
clear the opening of The Venetian was a turning point in the
history of the Las Vegas Strip. Sheldon was widely criticized at
the time, but his vision and the work we started together 30 years
ago has more than stood the test of time."
During his time as president and chief operating officer of The
Venetian and The Palazzo from 1999 to 2010, Mr. Goldstein was
responsible for many important property milestones, which also had
a broader impact on the Las Vegas Strip as well.
Under Mr. Goldstein's leadership, The Venetian featured cultural
attractions such as the Guggenheim Hermitage Museum along with
being among the first Las Vegas
properties to attract top-tier Broadway shows including Phantom of
the Opera and Jersey Boys. Mr. Goldstein also oversaw The
Venetian's significant hospitality enhancements that were designed
to attract more international visitors, especially those coming
from Asia where the company opened
Sands Macao in 2004 and was actively pursuing other developmental
opportunities in the region.
In 2004, Mr. Goldstein led the company's efforts to sell its
retail offerings in The Venetian and the not-yet-opened Palazzo for
$1.5 billion. Industry analysts at
the time lauded the sale as a "landmark deal" for the value of Las
Vegas Strip realty – the sale also led to investment in
Las Vegas real estate in a broader
context overall. Later that same year, he was present as Sands was
traded publicly for the first time on the New York Stock Exchange,
where it would become the most valuable company in its industry
based on market capitalization.
Another important moment for entertainment in Las Vegas, and the impact Mr. Goldstein had on
it, came in September of 2005 when the 40,000 square-foot TAO
Nightclub opened at The Venetian. The venue was successful
from the beginning and set off a new era of large-scale development
in Las Vegas centered on nightlife
and entertainment.
While the company was expanding its presence in Macao and Las
Vegas, Mr. Goldstein was also guiding the development of
Sands Bethlehem in eastern Pennsylvania. The project opened in 2009 –
reinvigorating the site of the shuttered Bethlehem Steel Mill
and becoming a model for future regional casino
development. Sands sold the property in 2019 for $1.3 billion.
In late 2014, after having served as president of global gaming
operations, Mr. Goldstein was named the company's president and
chief operating officer and continued to work closely with Mr.
Adelson and the leadership teams in Las
Vegas, Macao and
Singapore. When Mr. Adelson passed
away in January of 2021, Mr. Goldstein was named the company's
chairman and chief executive officer.
"As one of the first employees of the company, our family has
great appreciation for Rob's leadership and the many contributions
he's made over the years. He has left an indelible mark on the
history of the company, and our family will always be thankful for
it," Dr. Miriam Adelson, co-founder
and majority shareholder of Sands, said. "Sheldon deeply
appreciated Rob's friendship and counsel, and he would be very
grateful for everything Rob has given over the past three
decades."
Mr. Goldstein has always had a strong belief in Las Vegas as a world-class business and
tourism location, and that was never more apparent than when he
helped assemble a group of local business and community leaders,
including other gaming companies, to secure support for a new
world-class stadium in Las Vegas.
Along with Mark Davis, owner of the
National Football League's Raiders franchise, Mr. Goldstein and
others went before the Southern Nevada Tourism Infrastructure
Committee and made the case for the benefits the stadium would
bring to the region. Ultimately the committee agreed, and a few
short years later the Las Vegas Raiders made their debut in a new
state-of-the-art 65,000-seat stadium.
With a new NFL stadium moving ahead, it was time to pursue the
next game-changing entertainment project. In early 2018,
Madison Square Garden (MSG) Company
and Las Vegas Sands announced a partnership to develop MSG Sphere –
a new world-class entertainment and music venue located next to The
Venetian and its expo and convention center. Mr. Goldstein
immediately saw the advantages of having the new venue in such
proximity to the company's Las
Vegas properties. He worked closely with MSG Executive
Chairman and CEO Jim Dolan to get
the project off the ground. Sands contributed the land for the
venue and made a capital contribution to the project as well.
Sphere opened to rave reviews in the fall of 2023 and has become a
can't-miss attraction and an iconic part of the Las Vegas Strip
skyline.
Mr. Goldstein and his wife, Sheryl, have been actively involved
in many Las Vegas charitable and
civic causes over the years. They both have served on numerous
boards and been generous donors to a variety of organizations,
including Opportunity Village, Cleveland Clinic Lou Ruvo Center for
Brain Health - Las Vegas, Nevada
Ballet, Emeril Lagasse Foundation, Adelson Clinic for Drug Abuse
Treatment and Research, Public Education Foundation and many
others. Mr. Goldstein was also the driving force behind the
creation of the Young Women's Leadership Academy of Las Vegas, a
charter school offering a high-quality, all-girls' education model
for Las Vegas-area families.
Both the company and Mr. Goldstein intend for his senior advisor
role to be his sole position with the company and its subsidiaries
as of March 1, 2026. The company's
board of directors intends to name Mr. Patrick Dumont, the company's president and
chief operating officer, as chairman and chief executive officer
upon Mr. Goldstein's transition to his senior advisor
role.
Forward-Looking Statements
This press release contains forward-looking statements made
pursuant to the Safe Harbor Provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include the discussions of the company's intended board of
directors and chief executive officer changes and related
statements. In addition, in certain portions included in this press
release, the words "intend," "will" and similar expressions are
intended to identify forward-looking statements. The risks and
uncertainties that could cause the company's actual results or
other expectations to differ materially from those expressed or
implied by such forward-looking statements include, but are not
limited to, the risks and uncertainties detailed in Annual Reports
on Form 10-K and Quarterly Reports on Form 10-Q filed by Las Vegas
Sands Corp. with the Securities and Exchange Commission. Readers
are cautioned not to place undue reliance on these forward-looking
statements, which speak only as of the date such statement is made.
Las Vegas Sands Corp. assumes no obligation to update any
forward-looking statements and information.
About Sands (NYSE: LVS)
Sands is the leading global developer and operator of integrated
resorts. The company's iconic properties drive valuable leisure and
business tourism and deliver significant economic benefits,
sustained job creation, financial opportunities for local
businesses and community investment to help make its host regions
ideal places to live, work and visit.
Sands' portfolio of properties includes Marina Bay Sands® in Singapore and The Venetian®
Macao, The Londoner
Macao®, The Parisian Macao®, The Plaza
Macao and Four Seasons Hotel Macao, and Sands®
Macao in Macao SAR, China, through majority ownership in Sands
China Ltd.
Dedicated to being a leader in corporate responsibility, Sands
is anchored by the core tenets of serving people, communities and
the planet. The company's ESG leadership has led to inclusion on
the Dow Jones Sustainability Indices for World and North America. To learn more, visit
www.sands.com.
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SOURCE Las Vegas Sands Corp.
