Las Vegas Sands Abandons Online Gaming, Focuses on Land-Based Casinos
Las Vegas Sands, the casino giant, has sold its iconic Las Vegas properties, The Venetian, Palazzo, and Sands Expo & Convention Center, in 2022. The decision comes after a strategic review by the company's executives, who decided to close the project and refocus their efforts elsewhere.
The shift in strategy is notable, given the company's history under founder Sheldon Adelson, who was firmly against entering the online game space. However, under new CEO Robert Goldstein, who took over after Adelson's death in 2021, the company's stance has evolved.
Goldstein has not pursued Adelson's aggressive lobbying against online games. Instead, the company has explored the possibility of legalizing casinos in states like Florida and Texas. Despite these efforts, significant progress has not been made.
The company's future lies in its international land-based casino operations. It has announced an $8 billion renovation and expansion plan for its Marina Bay Sands property in Singapore. This focus on land-based casinos is a clear departure from the original plan for Sands Digital Services, which aimed to create a live dealer game studio for North America's legal iGaming market. The company's long-term objectives are no longer aligned with the path of online games.
As a result of this realignment, Las Vegas Sands is shutting down its digital game project, Sands Digital Services. This move is expected to lead to job losses, with estimates ranging from 300 to 400 positions. The company's focus remains squarely on its international land-based casino operations, with no indication of a return to the online game space in the foreseeable future.
