Las Vegas Sands has made its first foray into the US online gaming market via a strategic investment in Huddle Tech Inc, a newly formed entity resulting from the merger of Huddle Gaming and DeckPrism Sports.
Although the exact size of its investment remains unclear, LVS said it is backing Huddle’s growth “to a team of 80 with diverse expertise and skills.
“Huddle can now both better serve existing clients and expand its offering into a full suite of best-in-class products that will help iGaming operators move into the future of odds-making and managed trading services,” LVS explained.
Prior to the recent merger, Huddle provided an array of advanced automated solutions for trading, odds feeds and risk management for iGaming operators while DeckPrism was a premier provider of North American odds specializing in providing in-play betting markets for NFL, NCAA football, NBA, NCAA basketball, MLB and NHL.
LVS, meanwhile, has been actively looking for investment opportunities since revealing in March 2021 that it had agreed to sell its entire Las Vegas integrated resort portfolio for US$6.25 billion.
Chairman and CEO Rob Goldstein said at the time, “This company is focused on growth, and we see meaningful opportunities on a variety of fronts.
“Asia remains the backbone of this company and our developments in Macau and Singapore are the center of our attention. We will always look for ways to reinvest in our properties and those communities. There are also potential development opportunities domestically, where we believe significant capital investment will provide a substantial benefit to those jurisdictions while also producing very strong returns for the company.”
Providing some insight into the newly merged Huddle Tech Inc, Huddle CEO Francesco Borgosano said, “Our long-term vision remains the same – we believe that there is no technology out there that will be better constructed to meet the needs of the modern operator. Operators need product differentiation, innovation, and operational efficiency and that’s what Huddle brings.
“By combining our expertise with the IP and know-how of DeckPrism Sports, we have both solidified our existing products as well as dramatically accelerated our product development along that path.”
