Cantor Testing Handheld Gambling in Nevada

19 March 2008

Cantor Gaming, an affiliate of financial services firm Cantor Fitzgerald, is seeking approval to run field tests in Nevada for its handheld gaming device. If the company's product passes regulators' tests it will be put to use in the Venetian Resort Hotel Casino.

In 2005 Cantor was instrumental in lobbying in support of a Nevada bill permitting the use of handheld wagering devices in the public areas of licensed gambling establishments.

Cantor Fitzgerald has been involved in gambling since 2000 when Lee Amaitis, head of Cantor Gaming, began offering betting on financial markets to British clients. Since then the company has delved into sports betting and wagering on the Internet.

Cantor has an arrangement in place with Las Vegas Sands (LVS), owner of the Venetian, to enroll its handheld gaming product in casinos in Singapore and Macau as well as in the U.S. The two companies are also working together to build Internet gaming sites branded for LVS properties.