Las Vegas Sands closes live casino studio, Sands Digital Services
Las Vegas Sands has closed down its live casino studio project, Sands Digital Services, stating their intent to concentrate on their primary markets – outside of the online casino realm. The closure will see around 400 positions laid off, including 150 in Las Vegas.
Live casino gaming in the US
Live casino games have become increasingly popular worldwide, particularly in the US. These types of games are hosted in live studios with footage live-streamed to players on participating operator platforms.
Companies like Playtech and Evolution Gaming are among the biggest names in the space, and the majority of studios are hosted in Europe.
However, North America has emerged as an increasingly popular location, especially as the iGaming market expands, and expects other states to follow suit in regulating online casinos in the future.
Playtech has expanded to include live studios in Michigan, New Jersey, and Pennsylvania. And, at the beginning of this year, Caesars Entertainment announced the launch of its first live studio, in partnership with Evolution, located in Atlantic City.
In 2021, on the sale of The Venetian and Palazzo casinos and the acquisition of Qbet, Las Vegas Sands announced its entry into the live casino space.
Sands Digital market exit
However, announcing the closure of the relatively new project, Sands President and COO, Patrick Dumont, said: “As has always been the entrepreneurial approach of our company, investments in SDS were made with the understanding there would be multiple points in the process where we would assess the most pragmatic path forward.
“Ultimately, we reached a moment in which it was clear to executive leadership and our Board of Directors that further pursuit of this business was no longer aligned with the company’s core long-term objectives.”
The company’s objectives not only include its US-based casinos, but also its ventures in Macao and Singapore.
September saw Sands’ gross gaming revenue in Macao rise 6% compared to the year before, and the company owns a portfolio of prominent properties in the city, including the Venetian Macao, Sands Macao and Londoner Macao.
Further, the company is in the process of undertaking an $8bn expansion and refurbishment of its Marina Bay Sands resort in Singapore. A new luxury tower will offer 570 suites as well as a 15,000-seater indoor stadium and additional convention and meeting space.
The resort represents the company’s continued investment in the integrated resort model, which is clearly where the group sees the greatest potential for profits.
Dumont said: “The digital landscape continues to evolve and technology will remain important, but we remain fortunate to operate in the two best markets in our industry. We will continue to focus on opportunities that are in the best interests of our shareholders.”
The closure of Sands Digital Services will see approximately 400 people lose their positions with the company, including 150 in the Las Vegas area.
Company representatives have told those affected they are free to apply for other positions within the Group, but they realize that digital sector jobs have very different skill sets from other open spots.
The group still holds investment interests in Qbet and Huddle Tech, and no changes in these investments have been announced.
