Cantor Gaming CEO Under Possible Investigation by Feds
CEO Lee Amaitis (center) recently started the Cantor Gaming Atlantis sports book; some say he is under federal scrutiny now
Perhaps Not a goes by in the gaming universe without someone in a position of power somewhere being scrutinized by the feds anymore, it seems day. Now Cantor Gaming CEO Lee Amaitis is under the spotlight, according to the The Wall Street Journal, on the coating tail of colleague Michael Colbert Cantor’s now released vice president of danger management whom pled guilty simply last month to knowingly accepting unlawful wagers.
Denial through the Top
Parent company Cantor Fitzgerald was quick to deny the rumor, however, saying in a issued statement: ‘We feel compelled to address this reckless and baseless rumor. The notion that Lee Amaitis is a target of federal prosecutors or he participated in illegal bookmaking is baseless and false.’
Of program, Anthony Weiner also vehemently denied he was still sexting, so there you go regarding denials of rumors.
Accepting wagers from ‘runners’ people whom place wagers for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It would definitely behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for the Cantor that is new Gaming and recreations books at the Atlantis Casino on Paradise Island in the Bahamas. The company now has eight sports publications in Las Vegas, runs the Palms Casino poker room, and provides mobile betting apps, along with the Atlantis that is new book that will be their first run outside of Nevada.
No Allegations Officially Made
Cantor Fitzgerald had been quick to indicate that no actual allegations of any wrongdoing by Amaitis have been https://playpokiesfree.com/indian-dreaming-slot/ made by authorities. Yet.
33-year-old vice-president that is former has already entered his guilty plea up to a single felony fee of conspiracy in A new york federal courthouse (bet we can guess which one). Based on court papers, he’ll receive sentencing Dec. 9, joining so numerous others who will likely be having a fun visit to the joint from the wonderful world of gaming.
Colbert had been found in a joint arrest two years ago, along side 24 others, when he had been caught red-handed for an illegal sports to his involvement betting ring in Queens, NY. He originally was looking at eights counts of conspiracy, corruption and cash laundering, but the Queens case ended up being dismissed and also the matter of his moving $100K in gambling profits from Las Vegas to New York was forwarded to the U.S. Attorney’s docket.
Even though the ex-veep’s attorney of record refused to comment, The Wall Street Journal reports that Colbert is ‘cooperating’ in the Cantor Gaming matter; might that mean performing like a bird so he can fly free in December? Time will tell.
To his credit Amaitis did reportedly aid in the rebuilding of parent business Cantor Fitzgerald after the September 11th attacks on the planet Trade Center, when the company lost about 2/3rds of their employees. Amaitis was in London at the time, heading up business’s international dealings.
Wynn Eyes Philadelphia for Next Casino Resort Project
Wynn Resorts is one of six casino companies pitching to enter the Philadelphia gaming market
The casino legend who started out back East with the property that is original has now become the much-sought-after Atlantic Club in nj-new jersey’s gaming mecca is apparently putting a lot of energy into reclaiming his stakes in that component of the entire world. While video gaming mogul Steve Wynn waits to see which means the wind will blow in Massachusetts for approval of his proposed Everett, Massachusetts project, he is also waiting getting word on another new resort casino destined for the Philadelphia, Pennsylvania area.
No Decisions Till Next Spring
Wynn will need to hold back until early Spring 2014, from the looks from it, but; that’s when chairman of the Pennsylvania Gaming Control Board William H. Ryan, Jr. says the selected project for Philly’s coveted second casino permit should be determined. With six applicants waiting eagerly in the wings, there will be a public hearing held in January to simply help determine what type is the fit that is best, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in Las Vegas.
‘The hearings gives applicants a possiblity to present to the board and make their situation for why they should be granted the license,’ Lerner stated in a research note that is released. ‘It is possible bidders that are losing attract the board’s decision to hawaii Supreme Court, which could take roughly 6 months.’
Wynn’s project is naturally planned out in-depth already, with Wynn Resorts teaming up with a bevy of partners to build this second Philadelphia resort casino ( the HSP Gaming’s SugarHouse has been up since 2010 in the City of Brotherly Love). Tower Entertainment LLC, Market East Associates, PHL Local Gaming LLC, PA Gaming Ventures LLC and Stadium Casino LLC will all join hands with Wynn, if provided the high sign, to create a 150,000-square-foot casino that would house 900 slot machines and 100 table games, next to a 300-room resort, all developed on a 60-acre waterfront property.
This will be Wynn Resorts second go at a Philly property; they were into the running straight back in 2010 having a $600 million task, but pulled out before a decision was made at that time.
The proposed Philly casino as well as the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they will also be taking care of a $4 billion casino for Macau’s Cotai Strip.
Is Pennsylvania Market Leveling Out?
Since 2010, it could now be tougher for Wynn to crack to the Pennsylvania market; industry expert David Schwartz who heads up the Gaming Research Center at Las Vegas’ University of Nevada (UNLV), says that region has somewhat leveled down in growth (a pattern that is being seen across the U.S. within the land gaming markets these days) into the past few years.
‘After six years of really blockbuster growth, now it appears to have leveled off,’ Schwartz said. ‘Remember, it went from zero to $3 billion. It might be because it’s a $3 billion industry.’
But Schwartz adds that the situation is far from hopeless, noting the same predictions that are dire attached to the Las Vegas market several times, in 1989, 1993, and again in 1998. He claims a new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.
Nj Online Gambling Establish Plan Formally Announced
Coming to nj-new Jersey, just in time for Thanksgiving: Internet casinos
It’s been a long wait, but as anticipated, New Jersey’s venture into the world of Internet gambling begins on November 26, permitting state residents to begin with playing a common casino games online just in time for Thanksgiving.
Soft Launch First
According to New Jersey’s Gaming Enforcement Division, Atlantic City’s 12 casinos will have a way to begin a ‘soft play’ launch on 21 november. At that point, only a number that is limited of guests should be able to play on the sites. Presuming that all goes well with web sites in that period, then full scope, real money online gambling will begin at 9 a.m. local time on the 26th.
The principles for playing on nj’s gambling sites are going to be easy. In order to try out, users will physically have to be located within New Jersey, but are not required to reside there. All players will have to be at the very least 21 years of age.
So far, nine of the 12 casinos in Atlantic City have announced partnerships with software providers that enables them to launch their Internet gambling enterprises, while a 10th the Trump Plaza is rumored to have partner with Betfair, though which includes yet to be confirmed.
The Borgata is known to be working with bwin.party, while Caesars Entertainment which owns four Atlantic City properties will be partnering with 888 Holdings among the confirmed partnerships. Meanwhile, Resorts Casino Hotel has announced a partnership with PokerStars, even though the Taj Mahal will make use of Ultimate Gaming, which already has experience now running the first online poker site to hit in Nevada (Caesars Interactive has now launched a 2nd site there). Meanwhile, the Tropicana Casino and Resort will partner with Gamesys Limited. Finally, the Golden Nugget has announced that it will be dealing with Bally Technologies.
Dropping Revenues for AC Land Casinos
The web gambling launch will come being a opportunity that is welcome the struggling Atlantic City casino gambling industry. In 2006, Atlantic City’s gambling revenues peaked at an all-time high of $5.2 billion. However in the previous couple of years, a number of brand new casino properties in Pennsylvania, New York, Maryland and other regionally competitive areas have chipped away at that revenue, which stood just over $3 billion year that is last could fall below that mark in 2013. This autumn became much more precipitous after Hurricane Sandy caused damage that is heavy the latest Jersey coast in belated 2012. That has generated a loss of jobs and tax revenue for hawaii.
Perhaps Not everyone is convinced that online gambling shall make much of an effect. Some are involved as they will not be purchasing hotel rooms and food or shopping at the casino resorts that it may just shift players who normally came to gamble in the casino to online gaming, which could even be harmful. But industry officials that are most think the internet impact will be good, providing necessary income for the floundering casinos there.
New Jersey’s Internet gambling law was passed away by both houses and finalized into law by Governor Chris Christie earlier this year. That came after Christie had previously vetoed a comparable law the 12 months before, citing issues that the bill might not pass muster that is constitutional. Nevertheless the new version associated with law was approved after Christie first issued a conditional veto, which permitted legislators to create some minor changes to the bill, including requiring it to expire in a decade to ensure that legislators would have an opportunity to debate its merits again in ten years.