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Adelson Promotes Son-In-Law To Be Sands CFO

Las Vegas Sands Corp. is formalizing the role of casino mogul Sheldon Adelson's son-in-law as company chief financial officer.

Adelson announced Wednesday that Patrick Dumont has been promoted from senior vice president of finance and strategy.

He replaces Kenneth Kay, who last year became chief financial officer of MGM Holdings Inc.

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Dumont was in investment banking before joining publicly traded Las Vegas Sands in June 2010.

Adelson says in a statement that Dumont has effectively been CFO for some time.

Adelson is chairman and chief executive of the company that owns the Venetian and Palazzo resorts on the Las Vegas Strip and operates four casinos in Macau.

Dumont has been credited with engineering the purchase last year of the Las Vegas Review-Journal newspaper by the Adelson family.