Las Vegas Sands made a strategic investment in Huddle Tech on Thursday morning.
Huddle Tech is the new company born from the recent merger between Huddle Gaming and DeckPrism Sports. It provides real money online gaming operators with advanced solutions for trading, risk management and odds feeds.
The casino owner’s support is enabling the new entity, now known as Huddle, to grow into an 80-person team and accelerate product development, Francesco Borgosano, CEO of Huddle Tech, said in a statement. press announcing the investment.
What leaders want from investing
“Operators need product differentiation, innovation and operational efficiency, and that’s what Huddle delivers,” Borgosano said in the release.
DeckPrism co-founder Ed Miller said the move “allows us to see through our vision to change the way the global sports betting industry does its odds and manages transactions.”
For Las Vegas Sands, the investment is the resort owner’s first foray into the growing US online gaming market. The move comes after Nevada in April saw a substantial slowdown in overall gaming revenue.
Nevada casinos are always the center of the action
In Nevada, a greater percentage of sports betting takes place in retail sports betting than in other jurisdictions. There are no real money online casinos in Nevada.
Nevada is one of the states offering online poker. Six other states have legalized this option: New Jersey, Pennsylvania, Delaware, West Virginia, Connecticut and Michigan. These six states also have iGaming.