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LV Sands announces investment in digital gaming, new leader

Las Vegas Sands Corp. is investing in digital gaming technologies focused in business-to-business transactions.

The company on Monday announced it is building a digital gaming investment team to be led by Davis Catlin, joining Las Vegas Sands after spending 14 years with Sands Capital Management in Arlington, Virginia.That company is unrelated to Las Vegas Sands Corp.

“Sands is determined to grow its leadership position within the industry and is committed to doing that through strategic steps we think best position the company for future growth,” said Rob Goldstein, Las Vegas Sands’ chairman and CEO.

“Digital gaming and other related offerings are still very much in the early stages of development and we believe there is an outstanding opportunity for us to invest in the technologies being developed,” Goldstein said. “We believe our company’s platform, expertise and financial resources, together with the investment team led by Davis, will provide meaningful opportunities to make investments that will generate significant long-term benefits for the company. And just as our integrated resorts were not built in a day, by being patient and investing for the long-term, we believe these investments in digital gaming technology will deliver significant returns for the company and its shareholders.”

Sands is in the process of selling its Las Vegas properties, announcing in March that affiliates of Apollo Global Management Inc. and Vici Properties Inc. will acquire subsidiaries that hold the real estate and operations of the Strip’s famed The Venetian and Palazzo resorts and the Sands Expo and Convention Center for $6.25 billion.

That deal is expected to close later this year or by early 2022.

The Review-Journal is owned by the family of Dr. Miriam Adelson, the majority shareholder of Las Vegas Sands Corp.

Contact Richard N. Velotta at rvelotta@reviewjournal.com or 702-477-3893. Follow @RickVelotta on Twitter.

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