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As reported by the Las Vegas Review Journal this week, Cantor Gaming is none too happy about rival William Hill entering its cherished US sports betting territory.
This holds true especially with Cantor drawing some degree of scrutiny from the Nevada Gaming Commission, which said last week it is still conducting an investigation into the company following the indictment of its former Sportsbook Director Mike Colbert.
In a lawsuit filed earlier this month in Clark County District Court, Cantor accuses William Hill of poaching trade secrets and stealing clients after purchasing Brandywine Bookmaking in 2011.
This action follows a lawsuit filed by Cantor against Brandywine founder Joseph Asher nearly two years ago. Asher was named CEO of Brandywine's US-based business after William Hill completed its $15.7 million purchase.
Asher, meanwhile, claims he cleared Brandywine’s business plan with top executives at Cantor Fitzgerald LP, the Wall Street investment firm that owns Cantor Gaming
“Asher worked tirelessly and loyally on Cantor’s behalf but his loyalty was not reciprocated,” according to court papers.
The lawsuit also claims that Asher's final year at Cantor was marred by “vitriolic tirades” with CEO Lee Amaitis’ having a “history of being intolerable, hostile and abusive towards subordinates,”
Cantor would not respond to the Review Journal’s questions regarding this lawsuit.
William Hill in recent years has become the new darling of the Nevada sportsbook scene as it looks to conquer a potential regulated online market in the US, though sports wagering may be left out of the equation in the immediate future.
Cantor's former sportsbook Director, Mike Colbert, faces eight counts of conspiracy, money laundering, and enterprise corruption for his alleged role in a massive sports betting ring involving PinnacleSports.com.
Cantor itself was not charged in any conspiracy related to Colbert’s activities, but the Nevada Gaming Commission wants to ensure the company remains in compliance with strict licensing provisions and standards. The state appeared to be caught completely off guard by Colbert’s arrest late last year.
“We are not done,” asserted A.G. Burnett, chairman of the - Gaming Control Board. “We are still in investigative status.”
- Alejandro Botticelli, Gambling911.com
