Las Vegas Sands is finally caving in to the idea of online gambling after relenting for a long time. Sands President Rob Goldstein had early talked with prospective members of sports betting technology partners. It helped the company gain share but ultimately closed down to 0.4% on Friday.
However, it is not confirmed who are those prospective members.
In the USA, if you are planning to increase the market share, then the only way is to go online. Recently, New Jersey overtook Nevada to become the top betting state in the country. It derived 93.6% of November’s record of $931.6mn betting handle from the digital sportsbooks.
Sands has long offered sports betting retail sportsbooks at its Venetian and Palazzo casinos in Las Vegas. The sportsbooks are offered by William Hills which offers mobile betting in Nevada.
However, there is no Sands branding on the app.
Sands has very small market access in the US. It has no presence in Nevada. However, with the online betting option, Sands might go to the different US States. However, most of the states have the need to partner with land-based gaming operators.
Sands does have brand recognition, but after the emergence of online casinos and increased competitiveness, it has lost its existing shine. The newer thought on online sports betting might give them some hope.
Inspirational Link: https://calvinayre.com/2021/01/09/business/las-vegas-sands-sports-betting-plans/
