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Las Vegas – Aug. 9, 2010 – Hard Rock Hotel & Casino has entered into an operating agreement with Cantor Gaming, an affiliate of leading global financial services firm Cantor Fitzgerald, to serve as the exclusive race and sports book operator. Cantor Gaming will initially integrate its state-of-the-art In-Running technology into Hard Rock Hotel & Casino’s existing race and sports book, with the aim of launching upon regulatory approval.
“Cantor Gaming has created an entirely new and exciting approach to betting on sports,” said Joseph A. Magliarditi, President and CEO of Hard Rock Hotel & Casino. “Instead of the action stopping once the game gets under way, with In-Running that’s precisely when the action starts. This opens up a whole world of opportunities and we’re pleased to be able to offer this innovation to our customers.”
Lee Amaitis, President and CEO of Cantor Gaming added: “With the innovations in technology today, information is available at the touch of a button: we can receive news and data in an instant, manage our finances online and send text and video round the world in real time via mobile phones. Our In-Running system applies this generation of technology to sports wagering. Gone are the days when you could only bet on a sporting event by lining up at the window before the games started. Now you can trade sports in the same way you trade the financial markets – our technology has made sports wagering dynamic, interactive and, most importantly, relevant to today’s casino customers.”
The race and sports book operations will launch a new era in sports wagering at Hard Rock Hotel & Casino. Cantor Gaming’s In-Running wagering system, driven by the firm’s highly sophisticated, proprietary financial trading technology enables customers to trade sports. Bets can be placed throughout a game, on numerous different outcomes and with the lines constantly changing, up until the final whistle.
Hard Rock Hotel & Casino will begin work on a new race and sports facility with Cantor Gaming, slated to open in spring 2011. Earlier this year, Cantor Gaming and Hard Rock Hotel & Casino agreed to install the eDeck mobile gaming system at the property - to be rolled out upon regulatory approval. On approval, wagering methods will include Cantor’s wireless system, so patrons will not be physically bound to the sports book.
About Cantor Gaming
Cantor Gaming is an affiliate of pre-eminent, global financial services firm Cantor Fitzgerald L.P., which has over 60 years of experience and unparalleled expertise of highly secure real-time, global financial transaction processing, management, and execution. Cantor Gaming offers mobile solutions to the gaming industry through its proprietary mobile gaming device, eDeck™. eDeck offers casino customers the ability to play familiar casino-style games including slots, blackjack, roulette, baccarat and poker within designated areas of the casino property, away from the casino floor. In addition, Cantor Gaming has developed a suite of proprietary casino games for eDeck including XtraOdds Baccarat™ and XtraOdds Blackjack™. Cantor is the first company licensed to manufacture, distribute, and operate a mobile gaming system by the state of Nevada and remains the world leader. Cantor was also the first company to introduce In-Running wagering to Las Vegas, at the M Resort Spa Casino’s Race and Sports Book, in March 2009. In-Running betting allows wagering on live sporting events throughout the event. For more information please visit: www.cantorgaming.com
About Hard Rock Hotel & Casino
Hard Rock Hotel & Casino, owned and operated by Morgans Hotel Group Co. (NASDAQ: MHGC) and equity partner DLJ Merchant Banking Partners, is a premier destination entertainment resort situated on 26 acres in Las Vegas. Built in 1995, the property recently completed its $750 million expansion in early 2010. Hard Rock Hotel & Casino offers an energetic entertainment and gaming experience with the services and amenities associated with a boutique luxury resort hotel. The property is known for its innovative nightlife and music scene where such acts as The Rolling Stones, Bon Jovi, Paul McCartney, Incubus, Nine Inch Nails and The Killers have all performed. Features of the property include an 11-story Hard Rock Hotel tower with 640 guest rooms, 17-story Paradise Tower with 490 rooms and suites and the all-suite HRH Tower with 359 suites, eight spa villas and seven penthouse suites; 72,000 square feet of casino space; 80,000 square feet of flexible meeting and convention space; the luxurious Vanity nightclub; Reliquary Water Sanctuary & Spa; BrannonHair salon; 4.8 acres of tropical pool paradise; Rehab, the trendsetting Sunday afternoon pool party; The Joint by Rogue concert venue, home to Supernatural Santana: A Trip Through the Hits; Hart & Huntington Tattoo Co.; Poker Lounge; restaurants including Rare 120 steakhouse, the Tuscan-style Italian eatery AGO, world-renowned Nobu, Johnny Smalls, Pink Taco and Mr. Lucky’s 24/7 diner; numerous cocktail lounges; several retail stores; and the Rock Spa/Health Club, a state-of-the-art fitness center. For room availability and additional information call 800.HRD.ROCK (800.473.7625) or visit www.hardrockhotel.com.