Longtime Las Vegas Sands executive Robert Goldstein will transition out of his position as chairman and CEO of the company to a senior adviser role next year, Sands officials announced Thursday.
The transition will occur March 1, 2026, and Goldstein has agreed to serve as senior adviser through March 2028.
In that role, he will assist management with its government relations activities, efforts to pursue new physical development opportunities and the company’s gaming strategies, the company said.
Sands’ board of directors intends to name Patrick Dumont, the company’s president and chief operating officer, as chairman and chief executive officer upon Goldstein’s transition to his new role.
“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,” said Dr. Miriam Adelson, co-founder and majority shareholder of Sands. “He has left an indelible mark on the history of the company, and our family will always be thankful for it. (Co-founder) Sheldon (Adelson) deeply appreciated Rob’s friendship and counsel, and he would be very grateful for everything Rob has given over the past three decades.”
In his time with Sands, Goldstein has led efforts to develop the Grand Canal Shoppes at The Venetian, engineered deals 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 the Raiders and the National Football League to the city and worked closely to develop resorts in Macao and Singapore.
On the entertainment and cultural side, Goldstein was instrumental in bringing top-tier Broadway shows, Guggenheim Hermitage Museum exhibits, game-changing dining concepts and a Tao Nightclub to Las Vegas.
“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,” Goldstein said. “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.”
Many doubters
Goldstein recalled that he and Adelson proved doubters wrong with some of Sands’ concepts.
“In the beginning, we were counted out more times than I can count,” 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.”
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, 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 an impressive roster of celebrity chef restaurants, a model that was 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.
During his time as president and chief operating officer of The Venetian and The Palazzo from 1999 to 2010, Goldstein was responsible for many important property milestones, which also had a broader impact on the Strip as well.
In 2004, 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 land — 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.
The Review-Journal is owned by the Adelson family, including Dr. Miriam Adelson, majority shareholder of Las Vegas Sands Corp., and Las Vegas Sands President and COO Patrick Dumont.
This is a developing story. Check back for updates.
Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on X.
