California racetracks opt for Cantor Gaming’s online poker platform
July 30, 2012
Cantor Gaming and Horse Racing United, a not-for-profit organization representing thoroughbred racing and breeding interests within California, have entered into an exclusive provisional agreement under which Cantor Gaming, subject to pending state legislature approval, would provide Horse Racing United the technology and supporting infrastructure required for a world-class intrastate Internet poker platform, capable of offering online poker wagering to registered players in California.
Horse Racing United and Cantor Gaming support the State of California passing legislation to legalize online poker gambling, currently under consideration by the California Legislature, which would generate substantial revenue for California at a time of significant budget challenges, provide further support to the California horse racing industry's 50,000 jobs and $2.5 billion economy and help the state remain competitive as other states consider legalizing online gaming.
Horse Racing United members include Santa Anita Park, Del Mar, Golden Gate Fields, Oak Tree Racing Association, Thoroughbred Owners of California, California Thoroughbred Breeders Association and California Authority of Racing Fairs.
“In order to provide new revenue for the State, protect California jobs and make sure California is economically competitive, Horse Racing United is committed to working with the State of California to seek a legal Internet poker solution that works for all parties,” said Josh Rubinstein, senior vice president, development for Del Mar Thoroughbred Club. “We are currently the only industry authorized to conduct online gaming, which contributes a significant and growing percentage of our industry's revenue and tax dollars. Cantor Gaming's technological capabilities and infrastructure support can help Horse Racing United provide California with a state-of-the-art platform for online poker.”
The terms of the agreement provide that Cantor Gaming would utilize its technology and supporting infrastructure to develop a legal, authorized Internet poker platform throughout California. The agreement is further subject to Horse Racing United being selected as one of a limited number of licensees to operate an intrastate Internet gambling Web site. Upon enactment, the legislation would represent positive momentum from 2001 legislation that granted the California horse racing industry exclusive legal rights to conduct Internet wagering on horse racing within the State, making it the only industry authorized to conduct online gaming.
“As a leading innovator in mobile casino gaming and race and sports wagering, Cantor Gaming is excited about the potential opportunity to support the state's effort to generate significant new sources of revenue during these challenging budget times,” said Lee M. Amaitis, president and CEO of Cantor Gaming. “As other states begin to move to legalize online gaming, California is well-positioned to leverage its size and generate revenue that otherwise would not exist.”
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