Las Vegas Sands, a casino and resort company, has opted to invest in Huddle Tech, a gaming software company. Through this deal Sands demonstrates its commitment to US iGaming despite recently switching its focus to Asia.
Sands Invests Domestically
The two parties refused to disclose the size of Las Vegas Sands’ investment. However, the purpose of the investment was made perfectly clear. According to Sands, it will help Huddle expand its team and acquire new experienced team members. The software firm’s goal is to establish a strong team of 80 employees, each with their unique expertise and skill set.
Las Vegas Sands addressed the deal in a statement, elaborating on the purpose of the investment. The company explained that the funding will also help Huddle “better serve its existing clients and expand its offering into a full suite of best-in-class products.” This will help the tech provider develop its services and power iGaming operators with cutting-edge odds-making and managed trading solutions.
The investment in Huddle Tech continues Sands’ strategy of seeking investment opportunities. The company recently decided to sell its Las Vegas assets and focus on its operations in Asia. The company is confident that the Macau market will bounce back and will bring many profits.
Despite that, the company remained open to investment opportunities in its domestic market. Rob Goldstein, the chairman and chief executive of Las Vegas Sands, confirmed that Sands will double down on its business in Asia but will also seek domestic investments that provide strong returns to the company.
Huddle Tech Is the Result of a Recent Merger
Huddle Tech, on the other hand, is a fairly new name on the iGaming market. It is a result of the recent merger between the software company Huddle Gaming and the odds provider DeckPrism Sports.
When the companies united into this new entity, Francesco Borgosano, the chief executive of Huddle, shared his thoughts. Borgosano emphasized that the new company’s long-term vision remains the same. Notably, it will continue to produce tech solutions that are specifically tailored to the needs of modern gambling operators. Therefore, Huddle Tech will capitalize on producing products that are different, innovative and effective at the same time.
Thanks to the merger with DeckPrism Sport, Huddle acquired fresh expertise and know-how. This will help it to solidify its existing products and greatly increase the speed at which it rolls out new products.
