US casino giant Las Vegas Sands (LVS) made a strategic investment into StreamLayer to fund ongoing efforts to improve the operator’s Video Engagement Operating System (VEOS) and introduce innovative sports betting features.
Investing in Streaming Technologies
StreamLayer, a company founded in 2018 in Chicago, Illinois, provides an audience engagement platform on B2B basis to help media operators transform their streaming into an interactive and personalized experience for viewers.
StreamLayer’s mission is to change the way we watch video, making it more fun and engaging for consumers, and more profitable for rights owners and their media distribution partners.John Ganschow, CEO, StreamLayer
StreamLayer’s VEOS empowers content programmers and holders of broadcasting rights to turn their linear streaming video feeds into interactive experiences integrated into their own native app environments by associating their streams with a set of tracked objects in real-time.
At a time when the global streaming industry is seeking solutions to attract, retain and monetize their audiences in the face of spiraling content costs, the strategic investment from Sands will allow us to accelerate our development efforts and capitalize on this growing demand.John Ganschow, CEO, StreamLayer
Leveraging StreamLayer’s VEOS, the company’s clients ranging from large enterprise media companies to individual teams and leagues holders of their streaming rights allow their users to engage with a world of limitless features and viewing options, such as watch parties, real-time statistics, e-commerce and sports betting opportunities, and others, while watching the video streams.
Shifting Away from US Casinos
The news of the strategic investment into streaming technologies comes shortly after LVS released its first quarter 2022 earnings report and revealed the business incurred nearly half a billion in net loss from continuing operations in the quarter.
LVS reported its revenues dropped by 21% as compared to the first quarter of the previous year, operating loss from continuing operations increased by 70% and consolidated adjusted property EBITDA more than halved.
Also in April, LVS affirmed its commitment to the integrity of the US sports betting industry by making a strategic investment into US Integrity, a company operating in the field of monitoring sporting events and related to them betting patterns.
Earlier in the year, LVS offloaded its properties in Las Vegas, The Venetian and Palazzo casino resorts, as well as Sands Expo and Convention Center to Apollo Global Management and switched its focus on operations in Asia.