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Casino mogul and Republican Party megadonor Sheldon Adelson retires from his Las Vegas Sands Corp. for cancer treatment, leaving his business in economic uncertainty in the global gaming industry due to the Covid-19 pandemic.
Mr Adelson, 87, founded Las Vegas Sands and continued to run the company after being diagnosed with non-Hodgkin lymphoma, which the company announced in March 2019. The billionaire is taking sick leave to resume his cancer treatment.
Mr Adelson, whose family majority owners of the company, said his succession plan was for the current management team, including 25-year Sands veteran Robert Goldstein and Mr Adelson’s son-in-law , Patrick Dumont, to run the business, according to a person familiar with the conversations.
Mr Goldstein, who was most recently chief operating officer and chairman, has been appointed by Sands’ board of directors as chief executive officer and interim chairman during Mr Adelson’s sick leave, the report said on Thursday. society. Mr. Dumont joined the company in 2010 and is Chief Financial Officer and Executive Vice President.
Las Vegas Sands operates resorts on the Las Vegas Strip, in the Chinese territory of Macau and in Singapore. As Covid-19 first toured the world last year, casino closures and pandemic restrictions have wiped out gaming company revenues. Las Vegas Sands’ revenue fell 82% in the third quarter of last year compared to the same quarter a year earlier.
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