GGRAsia – Online bet tech firm Huddle says casino op LVS now investor

Online bet tech firm Huddle says casino op LVS now investor

Jun 09, 2022 Newsdesk iGaming, Latest News, Top of the deck, World

Huddle Tech Inc said in a Thursday press release that casino operator Las Vegas Sands Corp had completed a “strategic investment” in that newly-formed entity.

No further details were given,regarding the consideration involved in the deal.

The announcement said Huddle Tech was the result of a “recent merger” between Huddle Gaming Inc, a software supplier to gaming operators, and DeckPrism Sports LLC, a provider of in-play odds for betting on major North American sports, including the National Football League (NFL), the National Basketball Association (NBA), Major League Baseball (MLB), and the National Hockey League (NHL).

“The new entity, which will now simply be known as Huddle,” would have “a team of 80 with diverse expertise and skills,” stated the announcement.

Francesco Borgosano, chief executive at Huddle Tech, and co-founder of Huddle Gaming, was cited as saying: “By combining our expertise with the intellectual property and know-how of DeckPrism Sports, we have both solidified our existing products as well as dramatically accelerated our product development.”

Las Vegas Sands – which in February this year closed the US$6.25-million disposal of its Las Vegas, Nevada, casinos and meeting facilities in the United States – had said in a July 2021 announcement that it wanted to become “a strategic investor in digital gaming technologies”, with a focus on business-to-business aspects of the sector.

During a June 2021 conference hosted by brokerage Sanford C. Bernstein Ltd, Robert Goldstein chairman and chief executive of Las Vegas Sands, said, with regard to online gaming, the group was “committed to being in that space… not just in the U.S,” but also possibly in either Canada, Europe or South America.

But the Las Vegas Sands executive stressed at the conference he was “steadfast” in his belief that China would not open up to legalised online gambling.

Las Vegas Sands is the parent of Macau casino operator Sands China Ltd, and of Marina Bay Sands Pte Ltd, the operator of the Marina Bay Sands casino resort in Singapore.