The Las Vegas Sands corporation is preparing to introduce a new program dedicated to investing in companies that offer online gambling services. This move reflects their ambition to enter the online gambling market.
Sands will create a dedicated “Digital Gaming Investment Team” to focus on business-to-business opportunities. The team will be led by Davis Catlin, a senior executive at Sands Capital, who will oversee the company’s investments in this area.
“Sands is committed to strengthening its leadership role within the industry and is dedicated to achieving this through strategic actions that we believe will be most advantageous for the company’s future,” stated Robert Goldstein, who assumed the role of Sands CEO earlier this year following the passing of founder Sheldon Adelson.
Goldstein further emphasized his belief that online gambling is still in its early stages of development, suggesting that there will be ample opportunities for growth in the sector.
“Digital gaming and related products are still in their nascent stages, and we believe we have the chance to invest in technologies that are currently being developed,” he remarked.
We are certain that the firm’s platform, know-how, and financial assets, together with the investment group headed by Davis, will generate substantial opportunities for the firm to put money into, ultimately producing considerable long-term gains.
Just as our integrated resorts were not constructed overnight, through perseverance and long-term investment, we believe these investments in digital gaming technology will produce substantial returns for the company and its investors.
Earlier this year, Goldstein, in revealing fourth-quarter and full-year results, stated that the company was investigating “a number of possibilities” to enter the online gambling sector.
Following this, the company agreed to sell its Las Vegas property portfolio for $6.25 billion as it intends to concentrate on the Asian market.
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