Regulators to hear South Point sports book proposal

Aug 4, 2009 5:08 PM
by GT Staff |

Nevada’s Gaming Control Board on Wednesday will consider the South Point hotel/casino’s application to expand its sports book operation to include the Palms, Cannery, Eastside Cannery and Rampart casinos, all in Las Vegas.

If the Board recommends approval of South Point’s license application, the Nevada Gaming Commission will pass final judgment on Aug. 20.

In return for allowing South Point to operate their sports books, the four casinos would receive a percentage of all sports book revenues generated under the South Point umbrella. Those would include the above named casinos, as well as the El Cortez in downtown Las Vegas, and the Virgin River and Casablanca casinos in Mesquite.

The shift in operating control and merging of sports betting pools applies only to sports betting and not the respective casinos’ race books.

If the changes are approved by regulators, the South Point and its sports director Bert Osborne would be responsible for setting betting limits, as well as the odds, betting lines and point spreads for all the properties.

All money bet would be funneled into one pool, with the "satellite" or "affiliate" sports books taking a percentage of the total volume bet.

The "satellite" sports books would also use South Point’s parlay cards.

"We’re basically merging our sports book with those casinos," Michael Gaughan, owner of the South Point, told GamingToday in an earlier interview. "Everyone still runs their own book, but we would be responsible for setting lines and limits."

Osborne said the process of establishing operating connections with the other sports books and implementing the needed technology "is still too far out to discuss," and deferred comments until a later date.

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