Computerized Bookmaking Systems (CBS) was founded in 1983 at a time when the telecasting of sports events and pari-mutuel racing was just beginning to proliferate on television networks. The company's founder, Vic Salerno, saw a need to provide computerized systems and services to Las Vegas sports wagering establishments which were handling wagering on manual systems at the time. The volume of sports/race wagering in Nevada has reached nearly 2.9 billion by 2004 with most of the state's casinos offering this form of wagering to their customers in elaborate race and sports books. Some of these Sports/Racebooks operate 24 hours a day offering live telecasts of major sports events and racing programs from the nation's leading horse and greyhound tracks.

CBS was acquired by American Wagering in October 1996. CBS designs, manufactures and installs computerized wagering equipment and related software for the race and sports wagering industry. CBS also provides the industry with maintenance and support for the software and equipment. CBS is a leading provider of race and sports wagering computer hardware systems, software and related services in the State of Nevada. CBS provides wagering systems and/or services to the majority of race and sports wagering operations in the State of Nevada not operated by Leroy's. Leroy's is a sister company of CBS. CBS personnel provide service and support to the race and sports wagering industry 24 hours a day, 7 days a week.

CBS's revenues consist of the sales of wagering systems and software, and maintenance contracts. Casinos and other race and sports wagering facilities typically enter into an agreement for system repair and maintenance and software support at the time of purchase of the computerized wagering system and terminals.