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http://www.tradingmarkets.com/.site/news/TOP%20STORY/492847/
Las Vegas Sands Inks Deal With Cantor Gaming To Launch Online Gaming Site To Serve UK Market
Monday, December 04, 2006; Posted: 11:07 AM
(RTTNews) – With the U.S. Congress, signing the “Unlawful Internet Gambling Enforcement Act” or UIGEA on October 13, 2006, as part of a larger homeland security bill, gambling operators are seeking to expand into markets with less restrictive jurisdictions and increased liberalization. Casino operator Las Vegas Sands Corp. (LVS | charts | news | PowerRating) is one such company looking towards the UK market to further establish its presence and interest there.Monday, one of the affiliates of Las Vegas Sands inked a deal with Cantor Gaming, an affiliate of the global financial services company Cantor Fitzgerald, to launch an online casino and poker site initially aimed at serving the United Kingdom market. The site is anticipated to be launched during the second quarter of 2007.
Pursuant to the terms of the agreement, Cantor Gaming will provide a complete online casino and poker destination featuring Las Vegas Sands brands, including The Venetian, Sands, Palazzo, and Paiza brands.
Las Vegas Sands revealed that the online site to be launched will offer the most popular casino games, including blackjack, roulette, baccarat, video poker, slots and online poker. The site, which will be operated in compliance with the laws of Alderney, British Channel Islands will not accept U.S. customers. The recently passed legislation – UIGEA makes it illegal for banks to handle betting transactions to online gambling sites from the US residents.
Please finish reading at above URL
very interesting. thanks for the link dom…
VERY interesting. I would expect many more of these.
Yes, the plot definitely thickens.
Are Cantor Gaming a software provider or does it mean they will outsource to an existing s/ware provider? I kinda hope they choose a decent one and don’t go “proprietary”
Now their calling the move hypocritical…
http://www.online-casinos.com/news/news3555.asp
AMERICAN MOVE INTO U.K. ONLINE GAMBLING CRITICISED (Update)
“They’ve put a stick in the wasp nest to see what comes out.”
The news this week that the major U.S. land gambling group Las Vegas Sands is to work with Cantor Gaming in entering the UK and possibly European online gambling market (see previous Online-Casinos/InfoPowa report) has not been welcomed by local industry, reports the Daily Telegraph.
Torbjorn Ihre, the head of public affairs at the European Betting Association, said: “It’s hypocrisy and discrimination. These two words fit. This proves that the U.S. being open to competition is a false claim.”
The move into Europe comes just a few months after the U.S. launched a major crackdown on internet gambling. British executives were arrested and the US Senate outlawed banks from accepting online wagers. Las Vegas Sands is specifically targeting the UK market.
One of the as yet unnamed Las Vegas Sands gambling site’s potential rivals, Sportingbet, said it doubted the seriousness of Las Vegas Sands’ UK plans. Andrew McIver, the chief executive, said: “They’ve put a stick in the wasp nest to see what comes out. They want to see what happens – who comes to them and whether others will follow.”
He said he was not worried by such a big name entering the market. “Not at all. I wish them all the best. They are a very good company, but their strength is offline gambling not the internet. It will take them a few years to get going.”
Las Vegas Sands said that the website, which would not accept U.S. customers, would feature the companies’ brands, including The Venetian, Sands, Palazzo and Paiza. The new site will fall under the licensing requirements of the Channel Island of Alderney.
Chairman of the Nevada Gaming Control Board, Dennis Neilander said Monday he was aware the companies had been discussing an online gambling arrangement. Operating and collecting revenues from an online casino is not an issue, he said, as long as the two companies report the dealings to gaming regulators.
“When the system is set up, we’ll test it to make sure that they can’t accept wagers from U.S. citizens,” Neilander said. “That’s the main concern.”
The Telegraph points out that Las Vegas Sands is not the first land casino company to explore online gaming. From 2001 to 2003, MGM Mirage ran an online gambling site licensed on the Isle of Man. At the time, company executives said the involvement in the Web site, which didn’t accept wagers from U.S. citizens, was a way of proving online gambling could be regulated.
MGM Mirage spokesman Alan Feldman later said the company ended the venture “because it wasn’t a sustainable business model” without the participation of American gamblers.
They’ve put a stick in the wasp nest to see what comes out.”
Gotta love that!
Quote:MGM Mirage spokesman Alan Feldman later said the company ended the venture “because it wasn’t a sustainable business model” without the participation of American gamblers.and lets reiterate
the company ended the venture “because it wasn’t a sustainable business model” without the participation of American gamblers.
