Las Vegas Sands makes strategic investment in igaming firm Huddle Tech

Las-Vegas-Sands

Las Vegas Sands said it has made a “strategic investment” in an igaming firm, which provides automated solutions for trading, odds feeds and risk management for igaming companies.

Huddle Tech was recently formed from the merger between Huddle Gaming and DeckPrism Sports. LVS gave no financial details of the investment. 

DeckPrism is the premier provider of North American odds specializing in providing in-play betting markets for NFL, NCAA football, NBA, NCAA basketball, MLB, and NHL.

The merger sees the new entity, which will now simply be known as Huddle, grow to a team of 80 with diverse expertise and skills, it 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,” said Huddle Tech CEO and co-founder Francesco Borgosano.

“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.”

LVS has lagged its rivals in expanding into online gaming, mainly due to the opposition of its former Chairman and founder Sheldon Adelson who died in January.

However, last year it said it would begin expanding in the digital space through being a strategic investor in igaming companies.

The company said it planned to focus on business-to-business digital gaming technologies and has formed a digital investment team. The investment team will be lead by Davis Catlin, who will join the company after 14 years in a “leading” investment firm, LVS said.