Sportsbook operator acquires Nevada’s largest oddsmaker

By Liz Benston

Published Thursday, Nov. 6, 2008 | 3:05 p.m.

Updated Thursday, Nov. 6, 2008 | 3:31 p.m.

A company developing handheld gambling devices for Nevada casinos has acquired Las Vegas Sports Consultants, Nevada's largest oddsmaker.

While not well established in Nevada, Cantor Gaming runs a major online gambling and bookmaking operation in the United Kingdom, where mobile gambling on sports is widespread.

Cantor, an affiliate of global financial services company Cantor Fitzgerald, helped craft regulations to allow mobile gambling and is believed to be leading the race to create devices enabling gamblers to place a bet from anywhere in a casino hotel, including poolside, at a show or while dining out.

Also today, the Gaming Control Board recommended approval for Cantor’s mobile device system, effectively concluding a months-long field trial at the Venetian resort. The Nevada Gaming Commission is expected to offer its final stamp of approval this month, allowing other Nevada casinos to offer the technology.

Cantor hopes to run its first Nevada sportsbook at the M Resort, which opens in March. The company has not yet submitted a regulatory application for the sportsbook.

Las Vegas Sports Consultants provides odds and point spreads to all major Nevada sportsbooks. Officials said the deal would enable the company to offer a wider variety of services on a real-time basis and operate the platform "for a ground breaking suite of new products."