WASHINGTON, Dec 4 (Reuters) - Las Vegas Sands Corp. (LVS.N: Quote, Profile , Research), the No. 1 casino company by market value, said on Monday it would work with Cantor Gaming to launch a casino Web site, initially aimed at serving the UK market.
The move comes as U.S. authorities crack down on Internet gambling, cutting off what had been the most important market for gambling Web sites.
Las Vegas Sands said the Web site, which is expected to be launched in the second quarter of 2007, will not accept U.S. customers. It will feature the company's brands, including The Venetian, Sands, Palazzo and Paiza.
Cantor Gaming is an affiliate of financial services company Cantor Fitzgerald.
In Europe, regular online gamblers stake nearly 3.5 billion pounds ($6.9 billion) a year, an average of 1,000 pounds each, according to UK government figures.
"This is another opportunity for our company to create greater awareness of our global brands and further establish our presence and interest in the UK market," Las Vegas Sands Chief Operating Officer Bill Weidner said in a statement. "As the Internet gaming landscape continues to evolve, this effort will put us in a strong position to evaluate and react to other potential opportunities."
An effort by rival MGM Mirage Inc. (MGM.N: Quote, Profile , Research) to run an online gambling Web site did not succeed a few years ago, as the company was not allowed to tap the U.S. market. MGM launched PlayMGMMirage.com in 2001, but shut it down in 2003. (1 pound=$1.978)
The move comes as U.S. authorities crack down on Internet gambling, cutting off what had been the most important market for gambling Web sites.
Las Vegas Sands said the Web site, which is expected to be launched in the second quarter of 2007, will not accept U.S. customers. It will feature the company's brands, including The Venetian, Sands, Palazzo and Paiza.
Cantor Gaming is an affiliate of financial services company Cantor Fitzgerald.
In Europe, regular online gamblers stake nearly 3.5 billion pounds ($6.9 billion) a year, an average of 1,000 pounds each, according to UK government figures.
"This is another opportunity for our company to create greater awareness of our global brands and further establish our presence and interest in the UK market," Las Vegas Sands Chief Operating Officer Bill Weidner said in a statement. "As the Internet gaming landscape continues to evolve, this effort will put us in a strong position to evaluate and react to other potential opportunities."
An effort by rival MGM Mirage Inc. (MGM.N: Quote, Profile , Research) to run an online gambling Web site did not succeed a few years ago, as the company was not allowed to tap the U.S. market. MGM launched PlayMGMMirage.com in 2001, but shut it down in 2003. (1 pound=$1.978)
