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Cantor Files for IPO

Cantor Files for IPO

Cantor Entertainment Technology, Inc. has filed with the U.S. Securities and Exchange Commission for an initial public offering of its Class A common stock on the NASDAQ exchange.

The company, a unit of financial services giant Cantor Fitzgerald, produces software systems and hardware for race and sports books, including its popular “in-line” wagering system that allows wagers on in-progress sporting events. The company hopes to raise up to $100 million with the offering.

Company officials say they would use the money to repay debt. The company’s common stock would be listed under the symbol CETI. The filing did not reveal how many shares the company plans to sell, or the expected price.

“We are a leading technology company that provides, through our subsidiary Cantor G&W (Nevada), software, services, data and content to the gaming industry and additional entertainment channels worldwide,” said the filing. “We are a market leader in comprehensive account-based and over-the-counter race and sports book solutions and mobile gaming technology for casino-style gaming and race and sports wagering for the global gaming market. Our technology infrastructure platform allows us to provide scalable services at minimal incremental operating costs.”