Cantor Gaming Signs Agreement For California Online Poker
An exclusive provisional agreement has been forged between Cantor Gaming, a mobile and in-play betting and gaming technology provider based in Las Vegas and the non-profit horseracing group from California, Horse Racing United.
Cantor Games, which is also an affiliate of the global financing services firm Cantor Fitzgerald, presently runs several sports books for many areas in Nevada. They will be providing Horse Racing United with the technology and support that they will need to create a “world-class intrastate internet poker platform”. This technology, however, is still subject to approval from California state legislature for online poker.
Their agreement will be benefiting greatly from Horse Racing United since they have already been selected by the State to receive one of the limited number of operating licenses for providers who will be allowed to operate intrastate internet gambling websites. They will be eligible to operate one for online poker once the legislation has been passed.
President and CEO of Cantor Gaming, Lee Amaitis had boasted that their firm has over 800 professionals who will be serving gaming, financial and other industries in California. He added that with their trademark of being a leading innovator when it comes to mobile casino gaming and sports and race wagering, they have received a potential opportunity of supporting California’s move to generate more sources of revenue through this economically-challenged times.
California has the leverage in generating revenues from online gambling considering its size and geographic position. The passing of the legislation will be important for Horse Racing United especially since they have already been selected to become a licensee. Once the law has been enacted, revenues will provide California’s horseracing industry additional financial support as well as jobs for over 50,000 individuals who will directly and indirectly be involved in the industry.
Horse Racing United represents majority of California’s thoroughbred racing and breeding organizations. The organizations that are parts of the group include Del Mar Thoroughbred Club, Golden Gate Fields, Santa Anita Park, Thoroughbred Owners of California, California Thoroughbred Breeders Association and many more. This organization is committed to working together with the state to seek legalization of online poker and seek solutions that will work for both pros and antis.
California’s horseracing and breeding industry has been responsible of the employment of 50,000 residents including those who have been lower paid workers and those who have had it rough during the recession. Their industry has created $2.5 billion in total for the state on an annual basis. They are currently authorized to conduct online gaming which is significant in an increasing percentage of the state’s revenues and taxes. With Cantor Gaming and their technology, Horse Racing United will provide California with a top-of-the-line platform for online poker.