Las Vegas Sands shuts digital gaming enterprise after two years

Las Vegas Sands is winding down its digital gaming initiative, a transfer that may remove roughly 300 to 400 jobs, together with round 150 in Las Vegas, in response to a report by the Las Vegas Review-Journal.

The undertaking, Sands Digital Services (SDS), was designed to stream dwell supplier playing to US states the place on-line gaming is authorized and was first completely revealed by NEXT.io in 2023.

Under its earlier management of founder Sheldon Adelson, Sands had been firmly against getting into the net playing market.

However, following Adelson’s dying in 2021, the corporate shifted technique below CEO Robert Goldstein, exploring digital alternatives that led to the creation of SDS.

Earlier this yr, Goldstein introduced that he’ll depart the CEO place to step right into a senior advisor position, ranging from 1 March 2026.

President and COO Patrick Dumont (pictured) is ready to imagine the highest management place following Goldstein’s transition.

Changed objectives

Company management now decided that the enterprise was now not consistent with the agency’s long-term strategic objectives.

“As has always been the entrepreneurial approach of our company, investments in SDS were made with the understanding there would be multiple points in the process where we would assess the most pragmatic path forward,” Dumont mentioned in a letter obtained by the Review-Journal.

“Ultimately, we reached a moment in which it was clear to executive leadership and our board of directors that further pursuit of this business was no longer aligned with the company’s core long-term objectives,” he wrote.

Las Vegas Sands stays majority-owned by Miriam Adelson, daughter of the corporate’s founder, and the Adelson household, who additionally management the Las Vegas Review-Journal, the newspaper that reported on the closure and obtained Dumont’s letter.

Sands emphasised that it’s going to proceed to deal with its operations in Macau and Singapore, the place the corporate operates main resorts.

Dumont famous that whereas the digital panorama continues to evolve, Sands stays dedicated to investing in alternatives aligned with shareholder pursuits.

The digital initiative started after Sands bought The Venetian and Palazzo on the Las Vegas Strip and bought sure belongings from iGaming operator Qbet in 2021.

SDS was meant to supply live-streamed wagering to US states the place on-line playing is authorized, together with New Jersey, Connecticut, Delaware, Michigan, Pennsylvania, and West Virginia.

Impact on workers

An organization spokesperson mentioned the 150 Las Vegas workers affected by the closure could apply for different openings inside Sands, although most require totally different talent units.

In April, LVS withdrew from the high-stakes race to safe a on line casino licence in downstate New York, citing issues concerning the potential legalisation of iGaming and its impression on the long-term viability of a land-based on line casino funding.

However, Sands continues to increase internationally.

In Macau, the corporate operates a number of properties together with The Venetian Macao, sustaining commitments below revised licensing agreements.

During the operator’s Q1 2025 earnings name, Dumont described Macau as “the greatest gaming market in the world” and emphasised Sands’ deep dedication to the area.

He highlighted the power and scale of LVS’ portfolio there, together with high-end facilities and a continued deal with funding.

In Singapore, Marina Bay Sands is within the midst of a significant growth, including resort rooms and an enviornment.

“We continually meet and exceed the commitments we have made to our host markets in Macau and Singapore,” Dumont mentioned within the letter.

“Our dedication to our business partners and local communities remains an important part of our identity.”

News of the closure despatched the corporate’s share value down 7.4% on the day.

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