Las Vegas Sands Exits iGaming Market After Three-Year Pilot
Las Vegas Sands Corp. (LVS) has exited the iGaming space a little over three years after entering it, officially closing its pilot digital venture last week. The initiative, known as Sands Digital Services (SDS), was established in Carson City, Nevada, in March 2022 with the goal of streaming live dealer content into markets with legalized internet gaming across the United States, including New Jersey, Connecticut, Delaware, Michigan, Pennsylvania, and West Virginia.
However, SDS was shut down before it ever had the chance to compete against established iGaming companies such as Playtech, Stakelogic, Authentic Gaming, and Evolution. In a letter to the 300–400 employees affected by the closure, LVS President and COO Patrick Dumont stated that the project “was no longer aligned with the company’s core long-term objectives.” This letter was published by the Las Vegas Review-Journal, which broke the story on Friday, October 3. The newspaper is owned by the Adelson family — including Dr. Miriam Adelson, the majority shareholder of Las Vegas Sands and widow of the company’s late founder, Sheldon Adelson.
Under Sheldon Adelson’s leadership, LVS was known for its strong opposition to entering the online gaming space, citing concerns about its impact on traditional brick-and-mortar casinos. However, following his death in January 2021 at age 87, new CEO Robert Goldstein pursued different strategic directions. Among these changes was the decision to sell The Venetian Resort Las Vegas and Palazzo, along with the Venetian Expo Center, to Apollo Global Management and Vici Properties for $6.25 billion in 2022.
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Despite the shutdown of its digital efforts, LVS—recognized as the world’s largest operator of land-based integrated casino resorts by revenue—stated that it would continue to explore digital opportunities that better align with its core business in Macao and Singapore. In Macao, LVS operates five properties: The Venetian Macao, The Londoner Macao, The Parisian Macao, The Plaza Macao, and Sands Macao. In Singapore, it owns Marina Bay Sands.
“The digital landscape continues to evolve, and technology and innovation will continue to play an important role in our industry,” Dumont wrote in his letter dated October 2. “As a company, we will continue to explore and invest in opportunities that are in the best interests of our shareholders.” According to the Review-Journal, approximately 150 of the 300–400 workers laid off due to the closure were based in Las Vegas.
