Las Vegas Sands to expand into digital gaming
Las Vegas Sands (LVS) plans to expand and invest in digital gaming technologies, focused primarily on the business-to-business space.
LVS is building a new digital gaming investment team, which will be led by Davis Catlin, who led an investment firm for more than a decade and has experience in both public and private aspects of digital gaming.
LVS CEO Robert Goldstein said: “Sands is determined to grow its leadership position within the industry and is committed to doing that through strategic steps we think best position the company for future growth.
“Digital gaming and other related offerings are still very much in the early stages of development, and we believe there is an outstanding opportunity for us to invest in the technologies being developed.
“We believe our company’s platform, expertise, and financial resources, together with the investment team led by Davis, will provide meaningful opportunities to make investments that will generate significant long-term benefits for the company.”
Goldstein stressed that the operator is willing to make this into a long-term investment; he added that such branching out should “deliver significant returns for the company and its shareholders.”
Earlier this year, the company sold its Las Vegas properties for $6.25bn and shifted focus towards the Asian market, saying Asia was the backbone of LVS with venues in both Macau and Singapore.
With the newly available funds, the organisation said it was interested in new investment opportunities, including iGaming and similar digital endeavours.
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