Posts Tagged ‘Cantor Gaming’

August 22, 2013

Nevada GCB Investigation of Cantor Gaming Stuck in Mud?

Inside Gaming: Case challenges state regulators working across jurisdictions

Michael Colbert, caught up in a major New York sportsbook bust, has brought the heat on Cantor Gaming.

The case against Michael Colbert, for his alleged role in internet sports betting malfeasance, has brought the Nevada heat on his former employer.

A state investigation of sports book operator Cantor Gaming, launched after a company official was indicted for his alleged involvement in an illegal bookmaking and money laundering operation, has gone radio silent.

That doesn’t mean the matter has been swept away — not by any stretch.

Sources confirmed last week the Gaming Control Board’s inquiry into Cantor is moving forward, albeit at a slow pace.

Agents are trying to determine to what extent Mike Colbert, Cantor’s former sports book director, had with the betting operation, which was associated with offshore Internet wagering sites.

Investigators also are trying to determine if any of the illegal bookmaking allegations can be linked to Cantor. The state-licensed sports book operator was not a target of prosecutors, nor was the company even mentioned in the New York-based indictment.

After the inquiry opened, Cantor instituted damage control measures. The company distanced itself from Colbert, immediately severing ties with the oddsmaker.

Cantor went about its business. The company operates eight Las Vegas race and sports books — The Venetian, Palazzo, M Resort, The Cosmopolitan of Las Vegas, Tropicana, Silverton, Hard Rock and Palms — poker rooms, and manages a line of mobile gambling products.

However, Colbert has suddenly resurfaced.

Cantor officials can’t be too happy about this turn of events.

Colbert, 33, was the most prominent name among the 25 individuals indicted in October by New York authorities on allegations of ties to the illegal betting ring. Law enforcement alleged the operation yielded payouts of $50 million over an 18-month period.

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January 19, 2013

The Evolution of Fantasy Sports

Cantor Gaming sees profits in "not gambling" industry

cantor fantasy logoThe number of Americans playing fantasy sports has grown by 2 million annually for the past two decades, transforming what was once the pastime of a few devoted baseball fans into a lucrative business, generating more than $3 billion annually in total revenues, according to an industry analyst.

“We’re very comfortable these days,” said Paul Charchian, president of the Minneapolis-based Fantasy Sports Trade Association, which will hold its annual convention this month at The Mirage. “We’ve been growing at a ridiculous rate. Some day we won’t be growing by 2 million annually and I’m sure there’ll be stories asking us why we’re not growing by 2 million anymore.”

Fantasy sports were born in the 1960s, but it wasn’t until the late 1980s and early 1990s that it developed into a national sensation.

“We have grown by 2 million people a year since the Internet took off in the mid-1990s,” Charchian said.

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November 16, 2012

Vegas Bookie to Plea Not Guilty of Federal Money Crimes

Poker players accused of operating in sports gambling's shadow economy

Paul Sexton (no relation to Mike) is a former Full Tilt player accused of running money for an illegal online sports gambling ring. [GPI profile]

A lawyer for a former Cantor Gaming executive charged with four felonies in connection with an illegal bookmaking ring said Thursday he will plead not guilty later this month at his initial court hearing in New York.

Michael Cristalli, a Las Vegas-based lawyer, declined to comment on the charges against his client, Mike Colbert. Colbert was arrested with seven other people in Southern Nevada on Oct. 24 on warrants stemming from an 18-month investigation into illegal bookmaking and money laundering.

He is scheduled to make a court appearance in New York on Nov. 29.

Colbert on Thursday did not speak during a procedural hearing in Las Vegas Justice Court. He is charged with enterprise corruption, conspiracy to operate an illegal gaming enterprise and three counts of money laundering.

Cristalli said Colbert’s next court appearance in Las Vegas is scheduled for Dec. 3. He remains free on $50,000 bail.

Colbert appeared at the hearing with Jerry Branca, Steven Diano [GPI Profile], Joseph Paulk, Paul Sexton and Ian Mandell. Brandt England and Kelly Barsel were in New York for their initial hearings and did not appear in court Thursday.

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October 31, 2012

Cantor Gaming Insists No Connection to Online Gambling Crimes

System designed to prevent misconduct from rogue employees, execs say

Cantor Gaming officials on Monday said the company has been working closely with Nevada gaming regulators after the arrest of Mike Colbert, now a former vice president and director of risk management with the Las Vegas-based company.

Colbert was one of eight people arrested Wednesday in Southern Nevada in connection with a nationwide illegal bookmaking operation that generated $50 million in seven months.

Robert Hubbell, a spokesman with Cantor Gaming in New York, said Colbert was no longer an employee with Cantor Gaming. He said to date the company has “found nothing to indicate that (Colbert) was using our system or accounts for wrongdoing.”

“Although the charges were not related to his responsibilities at Cantor Gaming, it is important to note that our account wagering system is designed to prevent misconduct,” Hubbell said in a statement.

“The former employee’s responsibilities with Cantor Gaming had nothing to do with accepting or distributing patron money.”

Colbert on Monday did not speak during his brief initial procedural hearing in Las Vegas Justice Court.

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October 29, 2012

NV, NY Authorities Look into Cantor Role with Offshore Wagers

Prosecutor says Pinnacle online sports betting case involves organized crime

A Nevada gaming regulator said Thursday that the state’s probe into illegal bookmaking and money laundering that led to the arrest of a Cantor Gaming vice president and seven others in Las Vegas includes the sports book operator itself, focusing on possible regulatory violations.

Jerry Markling, chief of enforcement for the Gaming Control Board, said Thursday that investigators in Nevada have been working with the New York City Police Department’s Organized Crime Investigation Division for the past 15 months to unravel a “large-scale bookmaking operation.”

Gaming and legal sources on Wednesday had said the matter did not involve Cantor Gaming and was unrelated to its business in Las Vegas. The company declined comment Thursday on Markling’s statement.

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October 24, 2012

Cantor Gaming Expands Poker Footprint by Reopening Silverton

@RandomPoker around Vegas

No more keno? Say it ain’t so!

Cantor Gaming will be reopening the Silverton Casino poker room next month, less than a year after the room closed for lack of action.

Bobby Griffith, poker room manager for Cantor Gaming at the Palms, will take on double duty overseeing Silverton’s room and ultimately a new role as Director of Poker Operations for Cantor.

Griffith says he’s already hired a crew for the newest Cantor poker room, and is working on a special event for the re-opening. Cosmetic improvements include plans for ripping up old carpet and bringing in new chairs — with cards in the air sometime around Thanksgiving weekend.

Earlier this year, Cantor built a new sports book/poker room at Palms, the first of their rooms to merge the idea of gambling on sports and cards. At the end of 2011, Cantor unveiled a snazzy sports book at the Venetian, though Cantor does not operate the newly refurbished Sands Poker Room.

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Posted by at 10:00 am

October 5, 2012

New Jersey Takes Lead on Sports Betting Overhaul

Gaming execs watching court battles closely

Sports betting will probably never be regulated federally anytime soon.

But industry executives believe that a positive outcome of New Jersey’s court battle to legalize wagering on sports in the Garden State could set the stage for other states to legalize the industry.

“New Jersey’s challenge to (the federal ban) is the best place to start,” said Jeff Burge, chief financial officer with Cantor Gaming. “I expect it will be around in the courts for a while.”

Only four states allow sports betting, and Nevada is the only state where bettors can wager on individual sporting events, from soccer to basketball and football.

In 1992, Congress passed the Professional and Amateur Sports Protection Act, which banned sports betting in all states except for those that allowed it in some form. The federal law gave New Jersey an extra year to legalize sports wagering, a deadline it failed to meet.

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August 31, 2012

Gimmick Mixed Game or New Way to Play?

@RandomPoker tries “2-11” poker for blend of Hold’em, Omaha and chaos

So you’ve played hold’em, Omaha, 7-card stud, razz, badugi, badaci, baduci, razz-dugi, 2-7 triple draw, Chinese poker, Taiwanese poker, Indian poker and every hi-lo variant there is.

What’s next?

In a new game being spread at the Palms, using three 7s in his hand,  Bruce Paul turned quads and paused the action after scooping a big pot.

“That’s called a sniper,” he informed all of us newbies at the table about holding three-of-a-kind.

Paul, the 58-year-old Californian who created the game, hopes his 2-11 poker is the next big thing to captivate the card playing world. It’s called 2-11 (“two-eleven”) because of the 2-card flop, the 1-card turn and 1-card river.

Players get 4 hole cards and can use 2 or 3 from their hand and 2 or 3 from the board to make the best 5-card hand. Betting was 2/4 fixed limit, but could easily be played NL or PL.

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Posted by at 1:00 pm

August 10, 2012

Instapoker

Marvin Rettenmaier
Photo: World Poker Tour


Today’s Boxscore

Marvin Rettenmaier $287,784 – WPT Merit Cyprus Classic


It looks like Marvin Rettenmaier might have a pretty decent handle on this poker thing. On Thursday he became the first player to ever win back-to-back World Poker Tour events when he captured the WPT Merit Cyprus Classic title. This was the first tournament of the WPT Season XI but he picked up where he left off after winning the WPT World Championship to wrap up Season X. In between his two titles, he only cashed seven times during the WSOP including a final table in the Mix-Max tournament.

Rettenmaier grabbed $287,784 for his win and perhaps can now afford to dress like a grown man.


This story was a little too much to be pushed down into the link dump and also an example why I continue to believe legalized online poker is a long ways off. Mister and Missus Smith still equate poker with those evil negative EV games sitting in the casino pits where the house has a huge edge.

Mike Florio of ProFootballTalk on NBCSports.com played the puppet for locked out NFL officials when he wrote a piece called Locked-out officials plan to point out replacement official’s poker past.

Per a source with knowledge of the situation, the locked-out officials will soon be making it known that Shannon Eastin, who will become the first female official to work an NFL game, has played in the World Series of Poker.

Multiple links containing reports from the 2007 event mention Eastin.

Holy crap, stop the presses! A person of legal age participated in a legal poker tournament so she must be willing to fix an NFL game for a Binion’s Daily buy-in and a corn dog. In 2007, East finished 17th in a $1,500 NLH event and also cashed in the 2006 Ladies Championship.

Link Dump

FTPDoug returns to TwoPlusTwo – The infamous FTPDoug made his triumphant 2+2 return after taking his leave following the Full Tilt disaster. He is back and answering questions about the FTP relaunch after the PokerStars buyout. He also settles the question of whether it was actually Michele Clayborne posting as FTPDoug (told ya so).

Matt Marafioti Online Hacking Allegations – Marafioti is clearly off his rocker, that’s no big secret. But if these allegations of account hacking turn out to be true then he’s a blatant, delusional thief who is off his rocker.

Cantor Gaming launches Wi-Fi sports wagering in Nevada – And just like that, you can legally place a sports bet online in Nevada as long as you have a Cantor Gaming account and the ability to turn on your Wi-Fi adapter.

The British Poker Awards – Branded “the UK’s official poker awards” so it must be true. Award ceremonies for poker still seem a little odd because the ultimate award is cash in the hand and maybe a bracelet on the wrist. Now get off my lawn.

Best Poker Player Party ever? – I don’t know about the best party ever, I barely remember a PokerStars party at the WSOP with Mr. Snoop Dogg. But it still looks like a blast and Savage managed to once again find himself on camera.

Posted by at 9:41 am

June 23, 2012

Cantor Fitzgerald seeks gaming license in Macau

Poker-minded finance company headed to California, then China

Cantor Fitzgerald LP, which owns sports book operator Cantor Gaming, is seeking a gaming license in Macau as the company moves to expand its sports betting business beyond Nevada, a company executive said.

“We’re in the process of getting licensed in Macau,” Cantor CEO Howard Lutnick said in a recent interview with Bloomberg Television. “When you have these big casinos as your partners, it makes it much more easy.”

Cantor Gaming officials in Las Vegas declined comment Friday.

The company, an affiliate of the New York-based financial services company, operates seven sports books in Southern Nevada. The company announced Monday it had reached a deal to build and operate its eighth sports book at the Silverton.

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June 7, 2012

Fouled Deck in Pokerati PLO Game

It's nice when your five-of-a-kind holds up

Talk about shenanigans … like a raucous old-school reality show reunion, the Pokerati game re-emerged with fireworks last night — making its first appearance during the 2012 WSOP and first showing at the new CantorGaming poker room at the Palms. The 1/2 NLH/PLO action quickly turned into a big, drinky 1/2/5 all-PLO, compliments of @TheMark and his G-Vegas crew.

All fine and dandy until one rather big hand revealed a little more than a flopped set at showdown:

Funny to see all the cameras whipped out around the table as players and the dealer alike realized something was amiss. And as the floor and dealer backed up the massive pot to effectively declare a misdeal, the cameras upstairs musta been going ape-shit, one poker room official told me.

This was not the first time a Pokerati-ish Game has seen something like this …

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Posted by at 1:32 pm

June 6, 2012

Sneak Peek at New Ellis Island Sportsbook / Poker Room

European online poker site setting up shop in Vegas, US?

A new two-table poker room is under construction at Ellis Island, the popular off-strip dive casino. Perhaps taking a cue from the new CantorGaming poker room at the Palms, the room is located inside a Leroy’s Sportsbook.

Leroy’s (owned by British online bookmaker and poker room William Hill) and Cantor are engaged in a quiet battle of licensed technology … as Cantor has devices allowing in-game sports-betting all across casino properties its in, and Leroy’s has Nevada Gaming-approved iphone and android apps that allow sports betting anywhere within state lines.

Posted by at 7:41 pm

April 5, 2012

Cantor Gaming to Take over Poker Operations at the Palms

New room (with hole-card cams?) part of high-tech sportsbook overhaul

poker room cash

Cantor Gaming will open a new poker room at the Palms, and hopefully get new felts for Pokerati's signature game.


The poker room at Palms Casino Resort will close on May 2, with a new room, in a new location, under new management opening May 5.

Cantor Gaming confirmed recently that an 8-table poker room will be part of the Palms’ redesigned sportsbook (currently under construction) and say the new room will be state of the art in style and technology. Sources at Palms tell me that one of the tables will be equipped with hole card cams, a la Live at the Bike.

“We are honored that Palms has chosen us to manage their poker area,” Lee M. Amaitis, President and Chief Executive Officer of Cantor Gaming said in a press release. “By situating poker within the sports book we can offer customers maximum entertainment and convenience.”

Because of the partnership, the current staff at Palms must re-apply for new jobs with Cantor if they want to stick around. A spokesman for Cantor did not immediately respond to an inquiry seeking further details about the new poker room, and the cost of the project was not disclosed.

Late last year, the Las Vegas-based gaming company unveiled a new sports book at Venetian, the first phase of $30 million in renovations. Cantor has been taking over sportsbooks across Las Vegas — including the Venetian, Tropicana, Hard Rock, M Resort, and Cosmopolitan — but Palms will be the first location to open with a poker room as part of its design.

“Our decision to relocate the poker room to the new race and sports book was a natural one given the synergies that exist between poker players and sports bettors,” said Joseph A. Magliarditi, President of Palms.

“We are confident that a sleek new poker room will be a spectacular addition to our resort and one that offers poker fans the ultimate in poker playing experiences.”

Dan Michalski, who runs this site and has hosted a weekly half no-limit hold’em, half pot-limit Omaha game at the Palms for the past year, wouldn’t say much about the future of Pokerati’s relationship with the casino. (And he acts surprised when I can’t get a corporate casino flak to answer my questions!)

“Stay tuned,” Dan said in a text message.

So I guess that means there may only be a few more weeks to take his money in the Pokerati game — at least at the current past-its-prime Palms poker room.

Posted by at 3:48 am

August 18, 2011

Reconstruction Report

Ring-fencers, regulatory rejiggering and special-interest shifting ... ftw?

It really would be kinda selfish to hoard all the knowledge in poker, let alone any insight gleaned from all the uninformed and/or misinformed Twitter-fueled forum banter. Things are moving so fast these days in poker it’s hard to keep up, let alone have time to post after filtering through the muck. Actually, that probably explains the continued love/hate in poker for QuadJacks … accuracy shmacuracy, if there’s new hubbub in poker, Zac and Marco and crew are on top of it, and occasionally the middle of it — with informed insiders and ignorant blowhards alike contributing — while SrslySirius makes a rap video.

But a few recent stories of particular significance that might otherwise get buried amid PokerStars/WSOP/WPT press releases, 2+2 NVG threads, and the mashup of Jungleman cheating buzz:

Ring-fenced funds: Full Tilt debaucle explained
ALDERNEY
Check out this story in Poker Player Newspaper about a regulatory matter of new relevance called “ring-fenced funds”. It helps one understand a little better why Full Tilt found themselves in tighter straits than PokerStars post-Black Friday (even though PokerStars is the big boy the DOJ most wants) … and leaves one to wonder why senior executives and on-duty attorneys representing both Party Gaming and PokerStars flew in from Gibraltar, Israel, and the United States to observe the proceedings firsthand. Perhaps they thought they were coming in to witness an execution?

Online gambling goes national
WASHINGTON DC
Big talk all over the internet about a piece in the New York Post that points out how stars seem to be aligning for online gambling legalzation in the US — from the Kyl/Reid letter requesting DOJ assistance in squelching offshore operatives and state initiatives alike, to a Boehner aide taking on a VP role with the American Gaming Association, to a warming friendship between House Majority Leader Eric Cantor and Venetian pooh-bah Shelly Adelson.

It all supports my belief that online gambling will indeed be a national issue in coming months (assuming people behind a rumored Senate bill want it to be). There’s no mention, however, of the player-friendly Barton Bill, nor much anything about poker specifically — the writer talks of “gambling” — which suggests this story could be a plant by media operatives for the AGA, who we know, of course, represent Big Casinos and likely have Harry Reid’s office on speed dial. It also supports contentions that the effort to bring back online poker (thanks PPA and Joe Barton!) will likely become a push for full-on legal online casinos as bills move forward.

Nevada regulators prepping for Poker+ …
LAS VEGAS/CARSON CITY
Meanwhile, unbeknownst to many, Nevada Gaming authorities are in the midst of sweeping changes to state regulations — with very specific language updates on matters of foreign partners, “suitability”, server location, mobile gaming platforms, slot machine networks, money transfers, tax collection, you name it … The new rules currently taking shape in Nevada touch on just about every issue brought up in the online gaming political sphere over the past five years. Whether revolutionary or standard as far as procedure goes, if you really wanna know what the future of online gambling (and therefore poker) will look like — and/or place your bets on who the corporate winners will be* — follow the public work of the Nevada Gaming Commission and State Gaming Control Board here in coming weeks.

* for entertainment purposes only: smart bet is Caesars, William Hill, and Cantor-Fitzgerald.


This irregular link-dump has been brought to you by The Palms Casino Resort & Spa, home of the best big-little half-no-limit half-PLO game in Vegas.

Play Late!

palms poker promotion graveyard cash

ACTION ALERT: Pokerati Game — 1/2 NLH/PLO — gets underway tonight at 7pm! Goes until whenever …


Posted by at 6:40 pm

September 19, 2010

The Birth of (Legal) Online Sports Betting in America

Leroy’s primed to dominate a nascent industry?

This is a little confusing … because didn’t Barney Frank succumb to the NFL and make sure sports betting wasn’t included in any bill that codifies American freedom to gamble online?

I thought so, too … and maybe that’s why few seem to be recognizing the historic happenings right here, right now, with sports betting in Nevada. Check out the new TV commercials — seen on the local ABC affiliate before the UT-Tech game — for the first ever legal wagering app in the United States, moral opposition be damned:

We knew the release of “Leroy’s App” might be kinda a big deal … and the CEO of Leroy’s parent company, American Wagering, Inc., spells out pretty clearly their intent to have their finger on every “online” sports bet in the country with “interstate sports betting networks, phone betting, and real-time handheld devices”:

More…

Posted by at 12:47 am