Las Vegas Sands has closed its digital gaming initiative, Sands Digital Services (SDS), resulting in the loss of 300-400 jobs, including around 150 positions in Las Vegas.
The decision followed a strategic review in which company executives and the Board determined that the project - designed to offer live-dealer games streamed into legalised iGaming markets - was no longer aligned with the company's long-term objectives.
Patrick Dumont, President & COO of Las Vegas Sands, outlined the reasoning in a letter to employees. He said the company had always approached SDS with an entrepreneurial mindset, assessing its viability at key stages.
Dumont went on to state: "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."
Sands initially entered digital gaming in 2021 after selling its Strip properties The Venetian and Palazzo, and acquiring assets from Qbet. The project aimed to target US states where iGaming is currently legal, including New Jersey and Michigan. However, officials confirmed that the company will instead concentrate resources on its established markets in Macao and Singapore.
In Macao, Sands operates several major properties and has committed new investments under revised licensing agreements. In Singapore, the company is progressing with an $8bn expansion of Marina Bay Sands, featuring a new hotel tower and arena.
Dumont emphasised the company's commitment to its two primary markets and stated that technology and innovation would continue to play important roles in the industry.
Affected Las Vegas employees have been invited to apply for other roles within the company, though many available positions require different skills