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The largest casino company in the United States is the only major U.S.-based player to not have a developed sports betting plan, but that could soon be changing.

What Happened: Under new leadership, Las Vegas Sands Corp (NYSE: LVS) has held discussions with potential partners for a sports betting strategy according to Bloomberg.

The plans could call for Las Vegas Sands to use one of its own brands such as Sands or partner with an existing sports betting company.

Related Link: Las Vegas Sands CEO, Republican Megadonor Sheldon Adelson Dies At 87

Why It’s Important: Las Vegas Sands doesn't have a sports betting plan and could see a boost to its share price if it can launch a plan that is well received by the market.

“LVS is the largest casino operator in the U.S. and one of the only large-scale brick and mortar operators yet to embrace online gaming,” Roundhill Investments CEO Will Hershey told Benzinga in an email.

Hershey, whose company runs the Roundhill Sports Betting & iGaming ETF (NYSE: BETZ), said regulatory momentum in states like New York and increased valuations for online operators likely weighed on Las Vegas Sands decision to reconsider.

Late To The Party: 'In terms of a potential online offering, LVS is certainly late to the party,' Hershey said.

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Hershey said it might make sense for Las Vegas Sands to partner with an existing operator via a direct investment. If they choose to build from the ground up they could be playing catch-up to the likes of FanDuel, BetMGM and DraftKings Inc (NASDAQ: DKNG).

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“The longer the pandemic rolls on and retail operations suffer,' Hershey said, 'the more pressure there is on LVS to enter online.”

The majority of the company’s revenue comes from properties in Asia. Las Vegas Sands was said to be exploring selling the Las Vegas properties for $6 billion.

Acting Chief Executive Officer Robert Goldstein could change the direction of the company and put an emphasis on competing in online sports betting immediately.

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LVS Price Action: Shares of Las Vegas Sands closed Tuesday at $56.62. The stock is down 20% over the last year.

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