Las Vegas Sands completed a strategic investment in Huddle Tech on Thursday morning.
Huddle Tech is the new company born out of the recent merger between Huddle Gaming and DeckPrism Sports. It offers real money online gaming operators advanced solutions for trading, risk management and odds feeds.
The backing from the casino resort owner enables the new entity, now known as Huddle, to grow to a team of 80 and accelerate product development, Huddle Tech CEO Francesco Borgosano said in a news release announcing the investment.
“Operators need product differentiation, innovation, and operational efficiency, and that’s what Huddle brings,” Borgosano said in the release.
DeckPrism co-founder Ed Miller said the move “enables us to see through our vision to change the way the global sports betting industry does its odds-making and managed trading.”
For Las Vegas Sands, the investment is the resort owner’s first foray into the quickly expanding U.S. online gaming market. The move comes after Nevada in April saw a substantial slowing of overall gaming revenues.
In Nevada, a larger percentage of sports betting takes place in retail sportsbooks 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 that option: New Jersey, Pennsylvania, Delaware, West Virginia, Connecticut and Michigan. All six of those states have iGaming as well.