According to the Las Vegas Review-Journal, Las Vegas Sands (LVS) management has concluded that its digital division, Sands Digital Services (SDS), “does not align with the company’s strategic interests.” The operator will now focus exclusively on its land-based casinos in Macao and Singapore.
The newspaper is owned by the Adelson family, including Dr. Miriam Adelson, LVS’s majority shareholder, and Patrick Dumont, the company’s President and Chief Operating Officer.
In a letter to employees – reportedly numbering over 300 – Dumont stated that the Board of Directors had determined that the continued development of the company’s digital arm “no longer aligns with its long-term objectives.”
LVS established its digital division in 2021 after acquiring assets from Qbet and completing the sale of The Venetian and Palazzo on the Las Vegas Strip to Apollo Global Management and Vici Properties.
The initial goal was to stream live dealer games from the company’s own studio to licensed online gaming jurisdictions. LVS planned to leverage its strong reputation in land-based casino operations, but SDS found itself competing against established market leaders such as Evolution and Playtech.
In the letter dated 2 October, Dumont said: “The digital landscape continues to evolve, and technology and innovation will continue to play an important role in our industry.
“As a company, we will continue to explore and invest in opportunities that are in the best interests of our shareholders.
“Overall, we remain very fortunate to operate in the two best markets in our industry. Over the past two decades we have set the standard for the investments we have made in our land-based portfolio of properties and the elite level of customer service we have provided our guests.”
LVS will now concentrate its efforts on its Asian operations – The Venetian Macao and Marina Bay Sands, the latter of which is currently undergoing an expansion.
“We continually meet and exceed the commitments we have made to our host markets in Macao and Singapore,” added Dumont.
“Our dedication to our business partners and local communities remains an important part of our identity, as does our commitment to being the most shareholder friendly company in the gaming and hospitality industry. As a company, we have much to look forward to in the years to come.”
Don’t forget to subscribe to our Telegram channel!
