“I am in favor of as a form of entertainment, but I am not in favor of it exploiting the world’s most vulnerable people,” he said in 2014 during a talk at a university in Las Vegas.īy far, Sands is the only major U.S.-based player without a sports-betting strategy in the pipeline. It sounds like paradoxical behaviour for a billionaire, the head of the U.S.’s largest casino, who made money off gamblers to ban online gaming - especially when most of his competitors like MGM Resorts believe online gambling, if well regulated, can be safe and a boon to the industry. To this end, the casino mogul had launched public campaigns against online gambling since 2012, and enlisted lawyers and lobbyists to impel the United States Congress to ban online wagering.īack in 2013, the CEO vowed he was “willing to spend whatever it takes” to stop online gambling in the United States. The late Adelson had a long history speaking against online wagering based on altruistic justifications, claiming that the practice is too easy for betters to lose money and will ultimately jeopardize the society. The new venture may involve using “the Sands brands” or “the broader development of a betting platform by the company,” according to Bloomberg.Ĭarving out a platform for sports betting necessitates the means of online gambling. It is said that Goldstein had already engaged in discussions with potential partners to push the group onto the sports betting stage.

Robert Goldstein has taken the reins as acting CEO.

The news came two days after LVS released a statement about Adelson stepping aside from the helm for cancer treatment. The business proposition was first mentioned in Bloomberg’s report on January 9, which quoted people “familiar with the situation”. Las Vegas Sands Corp (LVS), the parent company of Sands China Ltd, may venture into sports betting - an arena its founder and CEO Sheldon Adelson who passed away at 87 on Tuesday - had long been at odds with.

Las vegas sands online gambling