took a stake<\/a> in video game maker Fortis.<\/p>\n<\/div>\nLVS hasn\u2019t yet announced sales of its internet gaming investments, and it\u2019s possible the operator will one day return to the space.<\/p>\n
Sands \u201chistorically been wary of the industry. But sources did not rule out a return to the sector in the future, not least because of its existing investments and other online gambling technology assets the company has accrued over the past year,\u201d added EKG.<\/p>\n
Sands Online Departure May Have Claimed Victims<\/h2>\n
As the research firm points out, LVS throwing in the towel on internet gaming is a move that may be causing some collateral damage.<\/p>\n
\u201cSources said multiple signed term sheets were pulled. One startup was courting investment from multiple investors but told them Sands was taking the entire round,\u201d <\/strong>according to EKG. \u201cMonths later when Sands pulled the term sheet, none of the previously interested parties were willing to put in any money and the business was left high and dry.\u201d<\/strong><\/p>\nSands didn\u2019t publicly reveal why it\u2019s stepping away from online gaming investments. But there\u2019s speculation the move is the result of the company\u2019s plan to focus on Macau<\/a> and the retendering process there.<\/p>\n","protected":false},"excerpt":{"rendered":"Las Vegas Sands (NYSE: LVS) waded into the online gaming arena, and now it appears the Asia-Pacific casino behemoth has quietly departed the industry. In the most recent edition of its bi-weekly EKG Line report, research firm Eilers & Krejcik Gaming (EKG) noted the casino operator folded its digital gaming investment arm. That unit was […]<\/p>\n","protected":false},"author":46,"featured_media":239839,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,19,16693],"tags":[81897,81931,82041],"acf":[],"yoast_head":"\n
Las Vegas Sands Folds Online Gaming Investment Unit<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n