Las Vegas Sands quits iGaming race

• Las Vegas Sands drops plans to bring live casino games to licensed iGaming states in the United States
• The company has revised its objectives, arguing that further pursuit of this specific operation does not align strategically with the company’s long-term goals
• LVS to focus on its long-term strategic goals and land-based operations

Las Vegas Sands Corp. (LVS) has decided to pull the plug on its iGaming arm, Sands Digital Services (SDS), confirming that it would no longer be pursuing plans to introduce dedicated live casino games to global markets through the Internet.

Following the sale of The Venetian and Palazzo, the company bought Qbet in 2021 and set out to create a live dealer studio for games that would have focused on those jurisdictions in the United States that regulated iGaming, such as New Jersey, Delaware, Connecticut, Pennsylvania, Michigan, and West Virginia.

LVS drops plans to stream live casino games in the US and beyond

Originally, LVS wanted to develop dedicated live studios allowing players to connect and play remotely, while leveraging the company’s expertise in delivering an impeccable experience.

However, LVS confirmed last week that these plans have now been revised and SDS will indeed be shuttered. The chief concern is that pushing into iGaming is simply not deemed a good strategic fit for the firm, nor its broader agenda.

The SDS shutdown is not happening in a vacuum, as around 300-400 people will now be out of a job, with 150 employees and workers affected in Las Vegas, Nevada, alone. The company regretted the decision but doubled down on the reason behind it – it was simply not aligned with its strategy and long-term goals.

Sands President and COO Patrick Dumont offered further insight into what has motivated the company and its decision to desist from its iGaming pursuit: "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."

Digital is still part of the strategic outlook, but not as a dedicated service

However, Dumont did not dismiss the importance of digital and insisted that it remained a key driver in the industry. As such, LVS would continue to invest in relevant technology and projects, Dumont explained, in a way that benefits shareholders.

Meanwhile, overseas operations in both Macau and Singapore are continuing at full throttle, with the company confident in the success of its land-based operations.

Image credit: Unsplash.com