“Las Vegas Sands Corp interested in digital gaming tech investments,” Chief Executive
The Las Vegas Sands Corp on Monday announced its intentions to invest in digital gaming technologies primarily in the B2B space. The move will supposedly be led by Davis Catlin, a former executive at Sands Capital Management LLC, a United States-based investment firm.
Davis Catlin previously worked for Sands Capital Management for over a decade, where he led the firm's investments in digital gaming in both private and public companies.
Las Vegas Sands management expressed confidence that Mr. Catlin and his team, assisted by their platform, expertise, and resources, would provide excellent investment opportunities that would bring long-term benefits for the company.
The group did not give much detail regarding the investment, such as size, timeline, areas of interest, etc. However, they did state that they were investing for the long term, according to Robert Goldstein, the company chairman, and Chief Executive.
The chairman further highlighted that digital gaming and its related offerings were still in the early stages of development. Still, the group believes there is a great opportunity to invest in the sector. They believe these investments would bring significant returns for the company and its investors.
Las Vegas Sands is the parent company of Sands China Ltd, the Macau casino operator, and Marina Bay Sands Ltd, which operates the Marina Bay Sands casino resort in Singapore.
In March, the company announced it would focus more on reinvestment in Asia and other high-growth opportunities and new markets. It, therefore, agreed to sell its Nevada, Las Vegas venues operations for a whopping US $6.2billion.
However, in June, the group stressed at the Bernstein Annual Strategic Decisions Conference that it was not out rightly exiting the US market. Nonetheless, it was committed to establishing itself in online gaming, not just in the US but also in South America, Canada, and Europe.