Las Vegas Sands in discussions on sports betting. The firm has allegedly held discussions with potential partners in the field of sports betting, setting the stage for a major shift in the company’s strategy, according to people familiar with the situation.
The acting chief executive officer, Robert Goldstein, is in the early stages of negotiations. Plans may, however, include using the Sands brands or the company’s wider creation of a betting network, said the individuals who requested not to be recognised because the discussions are private.
Creating a sports betting site can mean accepting online wagering—something previously opposed by founder and CEO Sheldon Adelson. The billionaire campaigned, based on moral grounds, to avoid its legalisation at local and national levels. Adelson shared that he feels online games like virtual slot machines make it too easy to lose money for patrons.