The latest move by Las Vegas Sands, the major Vegas gambling group
that owns The Venetian, Sands, Palazzo and Paiza land brands will
cause ripples in the online gambling pond for sure - it has commissioned
Cantor Gaming 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.
According to RTT News, turnkey provider Cantor Gaming, an affiliate
of the global financial services company Cantor Fitzgerald is the
company that has secured the deal to provide a top notch online gambling
service targeted on Great Britain, enabling Las Vegas Sands to take
the lead in entering a market that has more legal and business potential
than the restricted opportunities in the USA following the UIGEA.
Cantor Gaming will provide a complete online casino and poker destination
featuring Las Vegas Sands brands, including The Venetian, Sands, Palazzo,
and Paiza.
Las Vegas Sands has revealed that the online site 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.
The current deal marks the second partnership between Las Vegas Sands
and Cantor Fitzgerald. Earlier in May, Las Vegas Sands' casino resort
The Venetian, announced its plans to provide mobile gaming based upon
Cantor technology.
Commenting on the deal, Bill Weidner, president and COO of Las Vegas
Sands said, "As the internet gaming landscape continues
to evolve this effort will put us in a strong position to evaluate
and react to other potential opportunities."
Reports indicate that of the estimated $12 billion in annual revenue
generated by online gambling in 2005, about 50 percent was contributed
by American players. The online gaming industry lost $7 billion in
market capitalization in one day after the Congress enacted the Unlawful
Internet Gambling Enforcement Act.