International edition
October 20, 2021

As it looks to expand in sports betting beyond Nevada

Cantor Fitzgerald seeks gambling license in Macau

(Macau).- Cantor Fitzgerald, which runs sports gambling in seven Las Vegas casinos, is seeking a gaming license in Macau, China, as it looks to expand in sports betting beyond Nevada, CEO Howard Lutnick said.

We’re in the process of getting licensed in Macau,” Lutnick said on Bloomberg Television. “When you have these big casinos as your partners, it makes it much more easy.”

The New York-based company’s sports-gambling technology enables players to bet while games are in progress, even on individual plays, Lutnick said. Sports betting in Las Vegas has increased 13 percent this year “because we gave people something new and better,” he said.

In Macau, the only place in China where wagering is legal, gambling revenue rose 7.3 percent in May to us$ 3.3 billion, compared with a year earlier, according to the city’s Gaming Inspection and Coordination Bureau. Cantor would run sports betting operations in Macau casinos if it got a license there, Lutnick said.

The broker has invested us$ 150 million in retooling sports books in Las Vegas casinos. Its investments there include casinos owned by Las Vegas Sands, which also operates in Macau.

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