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Las Vegas Sands the land based casino giant has released a statement of intent to involve itself in the online gaming sector and primarily the business to business arena.<\/p>\nLas Vegas Sands the land based casino giant has released a statement of intent to involve itself in the online gaming sector and primarily the business to business arena.<\/p>\n
The announcement is no surprise as since the passing of its founder Sheldon Adelson in January this year it has made muted interest in the online gaming business. Prior to Adelsons death who was a staunch opponent of online gambling the company has made a strategic review of the sector and now has made it clear it is on the look out to invest in B2B online gaming companies.<\/p>\n
In the statement the casino company said that it plans to build a digital gaming investment team to look at potential opportunities.<\/p>\n
No details as to where and who the company will look at but it is clear now that Las Vegas Sands wants in on the lucrative online gambling business and many believe that the first move will be the sports betting industry in the US.<\/p>\n
Below is the announcement from Las Vegas Sands:<\/p>\n
Las Vegas Sands today announced an effort which will see the company become a strategic investor in digital gaming technologies focused primarily in the business-to-business space.<\/p>\n
As part of this effort, the company is building a digital gaming investment team, which will be led by Mr. Davis Catlin. Mr. Catlin is joining Sands after fourteen years with a leading investment firm. For the last decade, Mr. Catlin led that firm’s investments in both public and private companies in digital gaming.<\/p>\n
“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,” said Robert Goldstein, the company’s chairman and chief executive officer. \u00a0“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.”<\/p>\n
“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.\u00a0 And just as our integrated resorts were not built in a day, by being patient and investing for the long-term, we believe these investments in digital gaming technology will deliver significant returns for the company and its shareholders,” concluded Mr. Goldstein.<\/p>\n","protected":false},"excerpt":{"rendered":"
Las Vegas Sands the land based casino giant has released a statement of intent to involve itself in the online gaming sector and primarily the business to business arena. The announcement is no surprise as since the passing of its founder Sheldon Adelson in January this year it has made muted interest in the online […]<\/p>\n","protected":false},"author":5,"featured_media":46104,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,11,8,18],"tags":[],"class_list":["post-46232","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-gaming","category-headlines","category-latest","category-n-america"],"yoast_head":"\n