Las Vegas Sands Corp has handed the reins to the companyâs President,
Robert Goldstein, who is now the acting chairman and CEO.
Adelson was diagnosed with
non-Hodgkinâs lymphoma, a type of blood cancer, in 2018 but remained at the helm of his casino empire. A spokesperson for Las Vegas Sands Corp informed
The Wall Street Journal about Adelsonâs cancer treatment.
âMr. Adelson is still dealing with certain side effects from medication he is taking for the treatment of non-Hodgkin lymphoma. These side effects have restricted his availability to travel or keep regular office hours. They have not, however, prevented him from fulfilling his duties as chairman and CEO.â
Updated Jan. 7, 2021 4:19 pm ET
Casino magnate and Republican Party megadonor Sheldon Adelson is stepping away from his Las Vegas Sands Corp. for cancer treatment, leaving his company amid economic uncertainty in the global gambling industry due to the Covid-19 pandemic.
Mr. Adelson, 87 years old, founded Las Vegas Sands and continued leading the company after being diagnosed with non-Hodgkin lymphoma, which the company announced in March 2019. The billionaire is taking medical leave to resume his cancer treatment.
Mr. Adelson, whose family is majority owner of the company, has said his succession plan is for the current executive team, including 25-year Sands veteran Robert Goldstein and Mr. Adelson’s son-in-law Patrick Dumont, to lead the company, according to a person familiar with the conversations.