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28 June 2011
10:29 p.m.
VEGAS INC coverage
Las Vegas Sands said Tuesday it has signed a long-term contract with Cantor Gaming to operate the race and sports books at the company’s Venetian and Palazzo casinos. Previously, Las Vegas Sands ran the books with technology licensed from Cantor, a bookmaker and mobile gambling operator based in Las Vegas.
Venetian in 2008 became the first casino in town to offer Cantor’s mobile gambling devices, which allow gamblers to play various casino games anywhere on the casino floor. Cantor pioneered the devices after backing the legislation that enabled their use in casinos.
The company recently pushed legislation in Nevada that could open the door to casino customers using the devices to gamble in their hotel rooms. The Nevada Gaming Commission is expected to vote this year on whether to allow it.
The use of mobile gambling devices is limited because regulators, concerned about underage gamblers getting hold of the devices, have limited their use to a few well-monitored areas of casinos. Cantor officials say technology requiring players to periodically enter a password could secure the devices for wider use.
Cantor also specializes in “in-running” betting, a style of gambling that allows players to place bets during live sporting events. The company, which already operates several sports books for big Las Vegas casinos, has gained a reputation for taking larger and riskier bets than many casinos around town.
Cantor said it will invest millions of dollars to upgrade the Venetian’s sports book as part of the agreement.
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Cantor is a prime example of entrepreneurship at its finest. Cantor took a chance by investing the money to develop the technology and then worked hard to convince other businessmen & women of its worth. No government subsidies and no bureaucratic drones involved. Gee, what a concept. American's free to pursue their dreams and innovate.