Sands Corp Considering iGaming Offering
Published February 8, 2021 by Sol FH
Las Vegas Sands revealed that they are looking into “a few opportunities” to pivot into online gambling.
Sheldon Adelson, one of the biggest names in gambling, hotels, entertainment, and charity passed away in January 2021, leaving the Sands Corp looking for a new CEO. Soon after his passing, Robert Goldstein was announced as the companies' new CEO and would seek to take Sands to new markets.
During a call in the fourth quarter and full-year results, Goldstein mentioned that the Sands had "looked at digital," as a vertical that they are considering. “It's interesting, digital is quite a space. And we are exploring opportunities, looking at what might be out there.”
He added that there was nothing in the pipeline at the current time, but, they were "looking, learning, and observing."
Although a decision seems to be far-off, the view of the Sands Corp under Adelson was against iGaming. With Goldstein at the helm, we could see Sands online casino sometime in the future, but he made clear that they "are nowhere near a decision on that."
As a fierce adversary to online gambling, Adelson was set on fighting online gambling since its inception. Goldstein has argued that his former boss had an "outsized ethical concern about people who couldn’t afford it or people that were too young to use it,” he explained. “And he wasn’t a believer in the technology could stop that.
“He never questioned the viability of it. He questioned the ability to police it properly, the same way he paid people hundreds of millions of dollars last year because he wanted to. It’s an ethical consideration to Sheldon.”
Sands is one of the biggest gambling operations in the world and if they were to pivot to online gaming they would certainly become of the biggest companies currently online.
