Spreadsheet's Blog

Posted Friday, April 13, 2012 09:14 AM

Cantor-run poker area at Palms opens in May

In Las Vegas, Cantor Gaming’s expansion continues unabated.

Cantor recently announced that the under-construction Race & Sports Book at the Palms Hotel-Casino about a mile off the Strip will include a poker area (8 tables) that will be run by (who else?) Cantor. It is expected to open in a few weeks, probably early May.

In addition to expanding Cantor’s already-large profile in Vegas, the move continues a trend in which properties allow third parties to operate certain areas of their facilities. The movement started about a decade ago when many casinos got out of the restaurant business and decided to lease space. Doing something similar with sports books and poker rooms reduces the property’s financial exposure and provides income certainty – important in an shaky, uncertain economic climate.

Cantor deserves credit for striking while the iron is somewhat hot, especially in being near the front of the line in offering online options in Nevada.

During the construction process, Cantor is operating a sports book-only on the main floor near the high roller area.

Posted Thursday, April 05, 2012 10:52 AM

Major paper to take shot at NFL's gambling/ad ties

The NFL is about to take one in the solar plexus.

A source close to the New Jersey gambling scene has told Covers.com that the Philadelphia Inquirer is planning a story that will sharply criticize the NFL on its hypocrisy of allowing teams to accept in-stadium casino gambling advertisements while continuing to oppose sports betting.

The story will be published, said the source, as soon as the Giants and/or Jets confirm that they will be accepting gambling-related advertisements.

The NFL has been widely hammered for years for its stance on sports betting, and it's hardly a secret that the league encourages and benefits from gambling even as it opposes gambling publicly and (occasionally) in the courts.

Guess the NFL figures that the economic benefits of cozying up to casino ad money outweigh the criticism it receives for being hypocritical about the issue.

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