Las Vegas Sands Target Texas Gambling Overhaul

The Las Vegas Sands saga continues, as earlier this week, the company announced its plans to move operations to the state of Texas. The news has come as a shock to the industry, and analysts are breaking down this seemingly risky decision. Despite their best efforts to break into the Asian market, Sands are willing to prove once again that they can expand out of their Nevada stronghold. Read it all here!

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Las Vegas Sands are pushing to change the Texas stance on gambling, allowing them to expand into the flourishing gambling market. ©WilliamCho/Pixabay

After months of potential sales falling through, Las Vegas Sands has finally managed to sell its remaining assets in Nevada. The company has taken on a new mission of conquering Texas’s southern state after they attempted to enter the Asian gambling market failed to flourish. Macau was their original destination, but CEO Robert Goldstein has now set his sights closer to home.

The company owned several casino resorts on the iconic Las Vegas strip leading to exponential growth over the last few decades. Their reputation has also skyrocketed, becoming one of the biggest brands in all of gambling. They are looking to innovate once again by trying their hand at a new market altogether.

Robert Goldstein has always been an outward character. His boisterous statements often cause media ruckus, shining a glaring spotlight on Sands itself. After announcing the company’s new objective, local news in Nevada and Texas heavily discussed the story and its implications on both economies.

Despite the initial concern from his critics and fans alike, Goldstein remains confident that his second expansion idea will be far more successful than the first. Previously the CEO proposed expanding into Asia, with a keen focus on Macau due to its popularity. These efforts proved to be futile. The legal and financial implications were enough to put a stop to it, and China’s globalization policies prevented them from expanding altogether.

So, Why Texas?

At first, Texas may seem like a strange choice for expansion; however, there are many benefits for an opportunistic move like this. First of all, gambling is yet to be legalized in Texas, Goldstein recognized that there was a lack of competitors showing the same initiative and has placed all his faith in this expansion. The CEO is from the Lone Star State. His personal connections, as well as company interests, were the driving factors behind this move.

Texas has a population of 29 million people, a sizable amount considering the gambling history that exists within the state. Having illegalized gambling in the early 1900s, the prohibition era plunged Texas into a plethora of gang-controlled gambling. Like Al Capone in Chicago, gangs fought to control the black market, which gripped America’s deprived streets.

Las Vegas Sands identified numerous candidates for expansion including, New York, California, Ohio, and Michigan, among many others. Goldstein pushed the theory that Texas is losing billions of dollars in potential revenue to neighboring states such as Louisiana, Oklahoma, and New Mexico. He believes that the changing of the law would increase statewide economic activity. As the CEO is personally invested in this operation, his chance of success seems to be higher than the previous target of Macau.

Sands have already begun a rigorous advertising campaign for the state of Texas, being borderline political; their adverts speak to the people and ask them to help change the law on gambling. The mere suggestion of a restructuring of gambling laws is sure to spark fiery debate, and unsurprisingly, a fierce opposition has stood against them.

Controversy Follows Sands Once Again

When you keep up to date with Las Vegas Sands, it’s almost a given that you expect some controversy to follow close behind, Texas is a notoriously right-wing state, with suburban areas often upholding traditional Christian views. Sands face a serious challenge in convincing the people of Texas to side with them in the fight to change casino-based legislation.

Las Vegas Sands has decided to gain as many allies as possible, aligning themselves with the Texas Casino Resort Alliance, a group dedicated to the licensing of gambling for Texas. Once this connection was made, rumors began to spread of Sands lobbying politicians to benefit their action plan. However, this is not confirmed to be true.

In the end, we will have to wait and see. Will Las Vegas Sands successfully change Texan law and sweep the stakes before the rest get a chance, or will they falter at the last hurdle like their blunder in Macau. It’s beginning to seem like now or never for Goldstein and his company, refer back to this article to keep updated with the latest gambling news from around the world!

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