Las Vegas Sands Reported To Be Moving Into Sports Betting Business

According to reports coming out of the US casino operator Las Vegas Sands are looking at joining the fast growing sports betting business. Bloomberg have recently released an article quoting sources close to the company as saying the casino giant is looking at options to run a betting platform.

The article goes on to say that Las Vegas Sands acting chief executive Robert Goldstein is in early talks with potential partners to take this further.

At present the company’s founder and CEO has taken an indefinite leave of absence due to medical treatment for cancer and the 87 year old has been a staunch opponent of online gambling saying that he believed it has a negative impact on customers with spiralling loses for the gambler.

With sports betting in the US growing and with nineteen states already allowing sports betting every major casino operator has a presence within the sector with just Las Vegas Sands abstaining because of Sheldon Adelson’s belief against the business. However even the world’s largest casino operator now maybe changing its position.

It is understood that Goldstein is looking at the possibility of using the Las Vegas Sands name to promote the business or using a totally stand alone business.

With physical gambling being hit hard by the COVID-19 pandemic and Las Vegas Sands being no different many US casino operators like Caesars who have done a deal to acquire British based William Hill to gain more traction and expertise into the online sports betting business and even now MGM Resorts making a play for online gambling and sports betting operator Entain, it is clear the US sports betting industry is a place those operators want to go and now it seems even Las Vegas Sands are looking into it now.

That move would be a major shift in policy given the strong feeling of its founder but as Adelson continues to receive treatment and no clear date given to when and now if he will return, maybe now is the time the company moves into the lucrative business of online gambling.