Las Vegas Sands has appointed Robert Goldstein as chairman and chief executive officer after the death of legendary business tycoon Sheldon Adelson, founder of the world's biggest casino company, reports said Wednesday.
Patrick Dumont has been appointed president and chief operating officer and Randy Hyzak will take the role of chief financial officer, the company said.
The appointment was made after Adelson, who built posh gambling palaces that made him one of the wealthiest men in the world, died from complications of cancer this month. He was 87 years old. He was the casino empire's chairman and CEO since its inception in the late 1980s.
Shares of LVSC were unchanged in after-hours trading Tuesday after wrapping up the regular session down 1.1%.
In a statement, Goldstein said that Adelson's leadership "guided us to the top of our industry, and his legacy lives on through the company's 50,000 team members and the iconic properties he developed around the world," Market Watch reported.
Las Vegas Sands remains firmly in the leadership of its founding family, with Miriam Adelson, Sheldon's widow, controlling majority of the family's nearly 60% share in the business.
Dumont, who has worked with LVS since 2010, is Miriam's son-in-law. Goldstein joined the Sands in 1995, while Hyzak was hired in 2016 as chief accounting officer.
Goldstein has also held top executive roles at The Palazzo Las Vegas and The Venetian, two of the world's most popular casinos on 'Sin City.'
Goldstein is "the perfect choice" to take the reins at LVS as the company enters into a new chapter, Brendan Bussmann, chief of government affairs for Las Vegas-based Global Market Advisors, said.
The Sands' resorts around the globe closed for many weeks in 2020 because of the coronavirus pandemic and business at casinos in Las Vegas, Macau and Singapore remain well below pre-pandemic figures.
