Las Vegas Sands management transition has been well anticipated and well planned and the company’s executives are well positioned to maintain the broad strategy that has been in place, analysts at Bernstein said.
Founder and CEO Sheldon Adelson passed away on Monday. Long-term executive Rob Goldstein is acting CEO.
“The Adelson family retains control and nearly 57 percent ownership of LVS and we do not see this changing. Patrick Dumont, Mr. Adelson’s son-in-law and Chief Financial Officer of LVS, has been with Sands since 2010 and we expect him to take a larger role in the company working closely with Goldstein to help transition to the next leg of leadership at Sands,” the firm said.
This Dossier results from the “Life After POGOs” editorial project by Asia Gaming Brief which culminated with a pop-up digital forum on 9th December to discuss potentials ramifications in the industry.
SJM Holdings has appointed Toh Hup Hock as chief financial officer, replacing Robert Earle McBain who is retiring. Toh joined SJM in October, prior to which he was CFO of Shangri-La-Asia and Sands China.
Over the years, many of the answers have been remarkably prescient in their forecasts for the near-term direction of Asia’s gaming industry. However, we can safely say that no one came anywhere close to guessing
what 2020 may have had in store.
While nowhere in the world has escaped the economic fallout from the Covid-19 crisis, Macau has been hit harder than most, with forecasts for gross domestic product to shrink more than 50 percent this year.