Las Vegas Sands has announced the introduction of an initiative that would see the company become a strategic investor in digital gaming technologies, with an emphasis on the business-to-business market.
As part of this initiative, Sands is forming a digital gaming investment team, which will be overseen by Davis Catlin, who previously worked at Sands Capital Management for fourteen years. Catlin oversaw the firm’s digital gaming assets, both public and private, throughout the past decade.
Investment in digital technologies
LVS chairman and chief executive officer Robert Goldstein said of the scheme: “Sands is determined to grow its leadership position within the industry and is committed to doing that through strategic steps we think best position the company for future growth.
“Digital gaming and other related offerings are still very much in the early stages of development, and we believe there is an outstanding opportunity for us to invest in the technologies being developed.
“We believe our company’s platform, expertise, and financial resources, together with the investment team led by Davis, will provide meaningful opportunities to make investments that will generate significant long-term benefits for the company.
“And just as our integrated resorts were not built in a day, by being patient and investing for the long-term, we believe these investments in digital gaming technology will deliver significant returns for the company and its shareholders.”
Rising guest potential
As pandemic-related restrictions continued to stymie performance, LVS spoke positively about the potential of receiving a rising number of guests across its Macau, Singapore, and Las Vegas venues earlier this year.
The company, which made the comments during its quarterly report, expressed confidence in the eventual recovery of travel and tourism across its operational markets, saying that its “financial strength” supports investment and expenditure programmes in Macau and Singapore, as well as the pursuit of growth opportunities in other markets.