(Amanda Andrew – Source:
http://business.timesonline.co.uk/article/0,,13129-2487081,00.html)
Las Vegas Sands, the US casino giant, is to launch an online gaming site in the UK, following the recent crackdown by US authorities on internet gambling. Las Vegas Sands has signed a deal with Cantor Gaming to create a casino and poker website in the UK, with the aim of taking it into other countries.
The casino company said that the website, which would not accept US customers, would feature the companies brands, including The Venetian, Sands, Palazzo and Paiza.
The site is expected to be launched during the second quarter of next year. It will offer a selection of the most popular casino games, including blackjack, roulette and baccarat, as well as online poker.
The deal comes after arrests in the US of British executives including David Carruthers, the former head of BetonSports, and Peter Dicks, of Sportingbet, on charges related to illegal internet gambling, spooked the sector.
Although the market is far smaller than the US internet gambling market used to be, Las Vegas Sands entry into the UK will see it tap into a lucrative market. Las Vegas Sands refused to comment yesterday on whether it was planning to launch the website in European countries other than the UK.
Bill Weidner, Las Vegas Sands chief executive, said in a statement that the agreement with Cantor was an opportunity for the company to create greater awareness of its global brands.
He 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.
The recently passed legislation in the US, the Unlawful Internet Gambling Enforcement Act, makes it illegal for banks to handle betting transactions to online gambling sites from US residents.
The online gaming industry is thought to have lost about $7 billion in market capitalisation in one day after the Congress enacted the Unlawful Internet Gambling Enforcement Act.
The agreement between Las Vegas Sands and Cantor Gaming is the second partnership between Las Vegas Sands and Cantor Fitzgerald. In May, Las Vegas Sands casino resort, The Venetian, announced its plans to provide mobile gaming based upon Cantor technology.
The Las Vegas-based company owns The Venetian Resort Hotel Casino and the Sands Expo and Convention Centre in Las Vegas and the Sands Macao.
Cantor Gaming is an affiliate of the financial services company Cantor Fitzgerald
(From Casino-Bingo – Online Casinos in Britain)