Lee Amaitis Comments: Venetian Revamps Sports Book As Part of $30 Million Renovation
November 3, 2011, Vegas Inc.
The Venetian on Tuesday debuted an updated sports book, the first of many changes to come in a $30 million renovation of the resort's casino floor.
The multi-million dollar race and sports book, operated by Cantor Gaming, comprises 10,000 square feet and features a 100-foot-long, high-definition 4 mm black video screen, one of the largest in the world. The space is equipped with surround sound and includes the most carrels of any Cantor Gaming book. It boasts sleek lines, shiny marble floors and flashy red accents.
“This is an important anchor for the casino floor,” Venetian President and CEO John Caparella said. “It's a great draw.”
The renovation, which took three months to complete, marks the first phase of a more extensive upgrade to the Venetian casino. Over the next eight months, the resort will undergo 15 to 17 additional construction projects, including expanding its poker room to meet increased demand, replacing hallway carpeting with marble, enhancing lighting and introducing themed bars. Caparella would not elaborate on which brands might be featured.
“We're betting on Las Vegas. We want our customers to be happy,” he said.
The partnership with Cantor Gaming was a natural fit, Caparella said. The companies have worked together for the past three years.
The Las Vegas Sands ran its old sports books with technology licensed from Cantor. The Venetian in 2008 became the first casino in Las Vegas to offer Cantor's mobile gaming devices, which allow gamblers to play casino games anywhere on the casino floor. The resort recently launched new Cantor software that allows players to gamble on Cantor-branded tablets and smart phones from anywhere in the state. Cantor also began operating the book at Lagasse's Stadium at the Palazzo on Sept. 1.
The company specializes in “in-running” betting, a style of gambling that allows players to place bets during live sporting events. It has gained a reputation for taking larger and riskier bets than many of its competitors and is among the fastest growing.
“The industry is going to see that the opportunity to make money on sports is real,” CEO Lee Amaitis said.
The Venetian upgrade is the largest Cantor has completed to date. The company also runs books for the M Resort, Tropicana, Hard Rock, Cosmopolitan and the Plaza downtown.
“This is a showstopper,” Amaitis said. “It's going to be hard to top.”