LVS’ CEO on the idea of casino-related prediction markets: “I’m always open to innovation”
License application submitted by operator’s subsidiary marks first step in plans to launch games from LeoVegas Studios in the market
Las Vegas Sands (LVS) boss Patrick Dumont has insisted he is “always open to innovation” when questioned on the viability of prediction markets on the casino’s table games but ruled out offering sports event contracts.
Speaking at the 42nd Annual Bernstein Strategic Decisions Conference on Wednesday, May 27, Dumont confirmed the operator was watching the development of prediction markets and will look at how they can be used in relation to casino games if there is customer demand.
Prediction markets have exploded since the US presidential election in 2024, with sports event contracts first launching with Crypto.com in December of that year.
Kalshi has led the way in US, while online sports betting giants like FanDuel and DraftKings have entered the fray, with ‘combos’ now taking centre stage.
Effectively bet builders, the offering has allowed prediction markets to take some of the product edge lost to sportsbooks.
Markets on casino have been touted as a potential next step, given prediction markets offer similar quick-fire markets such as ‘the price of bitcoin in the next five minutes.’
Commenting on the growth of prediction markets, Dumont said it was “early days” for the product.
“I think there’s a lot of opinions going on that may be conflicting and that may get things up to the Supreme Court,” he added. “We’ll have to see how it goes. It’s a very interesting idea.
“We’re watching it, we’re trying to understand it. We are not in the sports wagering business. This isn’t something that we intend to pursue. It’s interesting to watch and observe because it’s tangential to our industry.”
When asked by Bernstein analyst Richard Clarke about “prediction markets on what’s happening within your casino,” Dumont did not close the door on the possibility.
He replied: “I’m always open to innovation. I’m just not sure how we would do that today. I will tell you that we’re very focused on providing the best experiences for our customers. If that’s something that ends up being useful, we’ll look at it.”
Elsewhere, Dumont also confirmed any online gaming aspirations for LVS were dead in the water and that the company would also not license its brand to another business.
LVS shut down its Sands Digital Services arm in Q4 2025 after just three years of operations. Dumont said the venture had not been a “good use” of shareholder capital.
On Wednesday, Dumont added: “That’s not something that we intend to pursue. We’re very focused on doing the things that we’re market leaders in.
“We believe that we have a very strong argument to be made where if there’s a jurisdiction that wants to bring integrated resorts [forward], we’re someone that should be on the call list.
“We feel like that’s what we’re really good at. I don’t think we’re going to look to pursue things that are not in our core.”
LVS’ share price is up 26% over the past 12 months to around $51.
The casino giant’s market cap of $33.8bn makes it the largest publicly listed gaming company in the world.