The resorts operator announced on Wednesday that Dumont will begin serving as CFO, which is a "formalization of a role Mr. Dumont has already been performing," CEO Sheldon Adelson said in a statement.
Dumont has served as senior VP of the company's finance and strategy since 2013.
Dumont is Adelson's son-in-law, according to Bloomberg.
"My primary focus will be on helping maintain the industry's strongest balance sheet, preserving the financial flexibility needed to pursue new development opportunities, continuing our strong commitment to return excess capital to our shareholders and fulfilling our commitment to leading the industry in financial controls," Dumont said in a statement.
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "hold" with a ratings score of C+. The company's strengths can be seen in multiple areas, such as its expanding profit margins and largely solid financial position with reasonable debt levels by most measures. However, as a counter to these strengths, we also find weaknesses including deteriorating net income, weak operating cash flow and disappointing return on equity.
You can view the full analysis from the report here: LVS