The Las Vegas Sands Corporation was formed in 1988 and the CEO and Chairman was Sheldon Adelson. Adelson was a revolutionary for the hospitality industry in Las Vegas as well as the world. He literally created the Las Vegas Convention Business. Sheldon Adelson is deeply missed for both his business acumen and his charitable work.
When Adelson went on medical leave in early January 2021 he turned to President and Chief Operating Officer Robert Goldstein. Goldstein became acting CEO and Chairman of both the Sands Las Vegas and the Sands China Ltd. Mr. Goldstein has been with the company for 25 years and the operation model of the Sands is expected to continue. . It is anticipated that the company will be run by Mr. Goldstein and CFO Patrick Dumont.
In October the Sands Corp confirmed rumors that it was in early stage discussions regarding selling its Las Vegas assets. These assets include, The Venetian, the Palazzo and the Sands Expo and Convention Center. Madison Square Garden Entertainment has taken back the reins on its much-ballyhooed MSG Sphere venue at The Venetian in Las Vegas with the Sands still maintaining an interest. It will be interesting to see what direction the Sands Corp goes.
The Sands China Ltd., has recovered from COVID-19 while the Sands Las Vegas like other casino resort operations have not and continues too struggle. The Las Vegas Strip Resorts weekday business was driven by the Convention Traffic which isn't expected to return until the Summer of 2021.
The Palazzo Hotel is currently closed during the week while the casino floor remains open. Other Resorts closed during weekdays are Mandalay Bay, Park MGM, Mirage, and the Encore at Wynn
