Las Vegas Sands Online Gaming
Las Vegas Sands Considers Entering the Online Sports Betting Industry. A move for entering the online gaming industry was long been rejected by Las Vegas Sands’ late chairman Sheldon Adelson. His deputy Rod Goldstein is taking the lead on this potential new expansion. According to Bloomberg, Goldstein is currently in discussion, that could. A Blue Angel fighter jet, seen at the Jacksonville Naval Air Station. Las Vegas Sands could bring a casino to the city. (Image: Clay Today) The largest gaming company by market value recently. Sands pioneered the convention-based Integrated Resort with the opening of The Venetian Resort Las Vegas in 1999. Today, our footprint spans eight properties in Macao, Singapore and Las Vegas — all contributing significant economic impact to their home communities. $27B cumulative global investment (2019).
In a hiatus from its longstanding opposition to online gambling and American land-based casino operator Las Vegas Sands Corporation recently revealed that it intends to “become a strategic investor in digital gaming technology.”
The Las Vegas-based company used
Monday’s official press release to state that it will build a ‘digital gaming investment team’ that will be ‘focused primarily in the business-to-business space.
The company also revealed that its new online gaming venture will be led by Davis Catlin, who recently joined its ranks after 14 years with independent private investment specialist Sands Capital Management.
Experienced specialists:
Robert Goldstein serves as Chairman and Chief Executive Officer for the Las Vegas Sands Corporation and he uses the press release to explain that Catlin has led previous employers’ private and public digital gaming efforts over the past decade. However, he stated that hooked is now tasked with providing casino companies with “meaningful opportunities to make investments” in the hope of “resulting in significant long-term benefits for the company.”
Reading a statement from Goldstein…
“Las Vegas Sands Corporation is determined to develop its leadership position in the industry and is committed to doing so through strategic steps that we believe position the company best for future growth. Digital games and other related offerings are still in the early stages of development and we believe there is a tremendous opportunity for us to invest in the technology that is being developed.”
Unlock new opportunities:
In his report on the matter and The Nevada Independent newspaper detailed that the move from the Las Vegas Sands Corporation comes as legalized online sports betting is available in more than 15 American states following the 2018 cancellation of the previous partial ban contained in the Professional and Amateur Sports Protection Act. (PASPA). The source also confirmed that real money online casino gaming is currently legal in five American jurisdictions with these two clubs likely to expand soon as jurisdictions look for new and new ways to fill the coronavirus-sized hole in their annual budget deficits.
Strong antagonism:
Sands Properties Las Vegas
The newspaper reports that the Las Vegas Sands Corporation’s latest efforts remain surprising because the company’s founder, Sheldon Adelson, is known to be a staunch opponent of legalized online gambling. The billionaire entrepreneur is said to have spent millions of dollars over the years hoping to quell the iGaming threat even though he died in January at the age of 87 after battling non-Hodgkin’s lymphoma.
The Las Vegas Sands
Size Shrinkage:
Las Vegas Sands Online Gaming Website
The Nevada Independent reports that Las Vegas Sands Corporation’s journey to iGaming’s next acceptance comes about four months after the company signed a $6.25 billion deal to sell The Venetian Resort Hotel Casino as well as the on-site 3,000 The Palazzo hotel rooms. This arrangement will purportedly take the Nevada company out of the American casino market altogether to leave it dependent on remaining properties in Asian gambling hotspots in Macau and Singapore.