LAS VEGAS - Las Vegas Sands Corp. (NYSE:LVS), a $32.5 billion market cap casino operator with impressive gross profit margins of 79.4% according to InvestingPro data, announced that its chairman and CEO, Robert G. Goldstein, will transition to a senior advisor role starting March 1, 2026. Goldstein, who has been with the company for over three decades, will continue to support the company through March 2028, focusing on government relations, new development opportunities, and gaming strategies.
Goldstein played a pivotal role in the development of The Venetian Las Vegas, which opened in 1999 and has been influential in transforming the Las Vegas Strip with its integrated resort model. His tenure saw the introduction of cultural attractions, celebrity chef restaurants, and significant hospitality enhancements aimed at attracting international visitors. Under his leadership, the company has generated annual revenue of $11.3 billion and maintained a strong financial health score, as reported by InvestingPro.
Under Goldstein’s leadership, The Venetian’s retail offerings were sold for $1.5 billion in 2004, a deal that was praised by industry analysts and stimulated broader investment in Las Vegas real estate. That same year, Sands went public on the New York Stock Exchange, eventually becoming the most valuable company in its industry by market capitalization.
Goldstein also oversaw the opening of the TAO Nightclub in 2005 and guided the development of Sands Bethlehem in eastern Pennsylvania, which opened in 2009. Following the passing of Sands founder Sheldon G. Adelson in January 2021, Goldstein was named chairman and CEO of the company.
The company’s board of directors intends to appoint Patrick Dumont, currently president and COO, as chairman and CEO upon Goldstein’s transition. This planned leadership change comes as analysts maintain a strong buy consensus on the stock, which currently trades below its InvestingPro Fair Value. Subscribers to InvestingPro can access detailed valuation metrics and 6 additional exclusive ProTips about LVS’s financial outlook and management strategy.
Las Vegas Sands Corp. is a leading global developer and operator of integrated resorts, with properties in Singapore and Macao. The company is recognized for its economic contributions, job creation, and community investment, as well as its commitment to corporate responsibility, which has led to its inclusion on the Dow Jones Sustainability Indices for World and North America.
The information in this article is based on a press release statement from Las Vegas Sands Corp.
In other recent news, Las Vegas Sands Corp. reported its fourth-quarter 2024 earnings, which fell short of analyst expectations. The company posted earnings per share (EPS) of $0.54, missing the forecasted $0.58, while revenues reached $2.9 billion, slightly below the anticipated $2.91 billion. Despite the earnings miss, the company announced an increase in its annual dividend to $1 per share for 2025. Additionally, Las Vegas Sands secured a significant credit agreement worth approximately $8.98 billion for its subsidiary, Marina Bay Sands Pte. Ltd., aimed at supporting the resort’s expansion in Singapore and refinancing existing debt. The agreement includes a term loan, a revolving credit facility, and a delayed draw term loan. The company also terminated a longstanding credit facility, following the establishment of a new credit agreement, the 2025 Singapore Credit Facility Agreement. Furthermore, strategic collaborations and market expansion plans are underway, including potential ventures in Thailand and the U.S. These developments reflect Las Vegas Sands’ ongoing commitment to its operations and growth strategies in key markets.
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