DOM 24 DE ENERO DE 2021 - 18:41hs.
Change of strategy

Las Vegas Sands looking at options for online sports betting

Having long been an opponent to anything online gaming related, Las Vegas Sands is now looking at potential partners to take it into the online betting age. Firm’s CEO Rob Goldstein is analyzing partnership options to develop its own platform. LVS is the only major domestic U.S. casino operator without an online sports betting offer, with a retail sportsbook at the Venetian and kiosks at the Palazzo being operated with William Hill.

Whilst Chairman Sheldon Adelson has been publicly against online gaming, CEO Rob Goldstein is now reportedly in early discussions that could the iconic Sands brand partnering with a sports betting platform or developing its own betting platform.

Sands is the only major domestic US casino operator without an online sports betting platform with its retail sportsbook at the Venetian Las Vegas and kiosks at the Palazzo being operated in conjunction with William Hill.

RoundHill Investments co-founder Will Hershey said: “In terms of a potential online offering, LVS is certainly late to the party. In that sense, they may look to partner with an existing operator, perhaps via direct investment, rather than trying to play catch-up to the likes of FanDuel, BetMGM, and DraftKings,

A combination of improved regulatory momentum in states like New York and increasing valuations for online operators has likely weighed on their decision to reconsider. The longer the pandemic rolls on and retail operations suffer, the more pressure there is on LVS to enter online,” Hershey added.

Bank of America analyst Shaun Kelley believes that sports betting revenue could grow by 70 percent over the next year.

Source: GMB