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400 jobs are cut when Las Vegas Sands closed its digital gaming venture
After announcing that Las Vegas Sands Corp. is closing its online gaming operation, up to 400 positions were lost, closing the three-year experiment with the US online betting industry.
After three years trying to get into the U.S. iGaming space, Las Vegas Sands Corp. said in an announcement that its online gaming division, Sands Digital Services (SDS), will be closing down. 300 to 400 workers will lose their positions directly as a result of the move, including about 150 jobs in Las Vegas.
Patrick Dumont, president and chief operating officer, wrote in a letter to employees:
“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.”
SDS was founded in 2022 with the goal of creating live dealer streaming for online casinos in such legalized gambling jurisdictions as New Jersey, Michigan, and Pennsylvania. The project, however, never made it to market or competed against top vendors like Evolution and Playtech.
Patrick Dumont said:
“The digital landscape continues to evolve, and technology and innovation will continue to play an important role in our industry. As a company, we will continue to explore and invest in opportunities that are in the best interests of our shareholders.”
The chief operating officer has added:
“Our dedication to our business partners and local communities remains an important part of our identity, as does our commitment to being the most shareholder-friendly company in the gaming and hospitality industry. As a company, we have much to look forward to in the years to come.”
He reaffirmed Sands will continue to focus on its Singapore land-based business, including Marina Bay Sands and The Venetian Macao, and Macao.
With Marina Bay Sands and Macau receiving fresh investments under re-renovated gaming concessions, the company continues to focus on growing its resort base.
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