Cantor Gaming Signs With Horse Racing United for Online Poker Platform

Published Tuesday, July 31, 2012 -

The political and legal status of online gambling in the USA continues to entertain and disturb those who would like to see resolution to this issue. California has been taking two steps forward and one step back in its efforts to find consensus. As it stands there are many reasons the State has not legalized online gambling and many other reasons it should. Political leaders seem to understand the financial benefits are enormous and the revenues generated by taxation and regulatory fees could help the economy in many ways.

Anticipating the eventuality of legal online gambling in the state, Cantor Gaming, the sports wagering division of the global financial services firm Cantor Fitzgerald has signed an exclusive provisional agreement with Horse Racing United.

The agreement would have Cantor Gaming supply the organization with the technical support and infrastructure for an intrastate online poker platform. The horse racing industry was handed exclusive legal rights to internet betting via a law passed in the state in 2001. Horse Racing United is a non profit group representing most if not all of California’s horse racing industry. Horse Racing United is said to be responsible for some 50,000 jobs in the state and $2.5 billion in total economic impact annually. Because of the 2001 law, Josh Rubinstein, Senior vice president of development for the Del Mar Thoroughbred Club said recently, “We are currently the only industry authorized to conduct online gaming, which contributes a significant and growing percentage of our industry’s revenue and tax dollars,”

Cantor Gaming’s President and CEO, Lee Amaitis commented, “In concert with its affiliates, Cantor Gaming has more than 800 professionals in California, serving gaming, financial, real estate and other industries. As a leading innovator in mobile casino gaming and race and sports wagering, Cantor Gaming is excited about the potential opportunity to support the state’s effort to generate significant new sources of revenue during these challenging budget times.”

Related news

Return to Latest News