Posts Tagged ‘NGCB’

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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June 13, 2012

Nevada Gaming Revenues Continue Shaky Rise

Nevada gambling revenues rose more than 6.1 percent in April, to $855.7 million, compared with the same month last year, the state Gaming Control Board announced Tuesday.

The single-digit increase was a return to the plus side after a 10.8 percent decline in March.

The state posted revenue increases of 5.7 percent in February and 18.4 percent in January, according to figures compiled by Nevada gaming regulators.

Analysts described the results as mixed, with high-end games returning strong results while table games and slots that appeal to a mass market were down for the month.

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October 10, 2011

WSOP November Nine Prop Bets Approved for NV Sportsbooks

Red/black, hand counts, Gigli wagers allowed

Won’t this be extra fun when you can make these kinda wagers on your mobile phone? Oh, wait, with Leroy’s app you can, anywhere within Nevada state lines, so the army of Aliens camped out at Area 51 should have no problem betting on Ben Lamb and/or Badih Bounahra without revealing themselves to all of humankind.

Nevada Gaming just approved some new wagers for the November Nine … some of which are obv, and others that may or may not be a little more silly.

The list of approved wagers, at house odds:

  • Player to Win 2011 World Series of Poker
  • Will There Be More Red or Black Cards in the First Flop at the Final Table
  • What Will the Final Winning Hand Be
  • Will Chip Leader at Start of Final Table Win Event (Yes or No)
  • Who Will Finish in Ninth Place
  • Total Number of Hands Dealt at the Final Table
  • Posted by at 4:42 pm