A new deal between Las Vegas Sands Corp. and Cantor Gaming is raising both hope and cries of hypocricy amongst people in the gaming industry.   

The giant US land-based casino and gaming operator, Las Vegas Sands Corp, has signed a deal with Cantor Gaming to launch an online poker and gaming operation specifically targeting the UK market.

Cantor Gaming is a business interest of the giant Cantor Fitzgerald investment bank and bond brokerage financial group with a large presence in the London financial sector. That group also runs the highly sophisticated spread betting and contracts for differences (CFD) markets for share traders so has access to a huge pool of potential clients with funds available for use in the gambling arena.

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Some financial analysts are suggesting that this move may be positive from a US regulatory perspective. They say that if Las Vegas Sands can demonstrate that operating an online gaming business can be achieved with a rigorous customer identification procedure and socially responsible values, this may in time soften the US stance on its current internet gambling “ban”.

Of course, any such reversal of attitudes in the US would be of little consolation to those non-US businesses and their investors seriously harmed to a collective tune of billions of dollars by the recent US law changes and most likely would see American businesses filling the vacuum. This would do little to placate those who have argued that the US measures were motivated by protectionism.

European operators are also sceptical with suggestions that this latest move by Sands is verging on the hypocritical. In a Daily Telegraph report, Torbjorn Ihre, the head of public affairs at the European Betting Association, is quoted as saying:

“It’s hypocrisy and discrimination. These two words fit. This proves that the US being open to competition is a false claim.”

Read more here.

Tags: Government Policy, Online Gaming, Technology, UK|
Posted By: froosh | Dec 10th