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Cantor Gaming CEO Under Possible Investigation by Feds

Cantor Gaming CEO Under Possible Investigation by Feds

CEO Lee Amaitis (center) recently launched 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 who pled guilty simply last month to knowingly accepting illegal wagers.

Denial from the Top

Parent business Cantor Fitzgerald was quick to deny the rumor, however, saying in an issued statement: ‘We feel compelled to address this irresponsible and rumor that is baseless. The notion that Lee Amaitis is a target of federal prosecutors or which he participated in unlawful bookmaking is baseless and false.’

Of course, Anthony Weiner also vehemently denied he was still sexting, therefore there you go with regards to denials of rumors.

Accepting wagers from ‘runners’ people who place wagers for an operation is illegal in Nevada, where Cantor Gaming is headquartered.

It could 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 books in Las Vegas, runs the Palms Casino poker space, and offers 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 ended up being quick to point out that no actual allegations of any wrongdoing by Amaitis have been made by authorities. Yet.

33-year-old former vice-president Colbert has recently entered his guilty plea up to a single felony cost of conspiracy in a ny federal courthouse (bet we can guess what type). According to court papers, he can get sentencing Dec. 9, joining so many others who will likely be having an enjoyable holiday in the joint from the world that is wonderful of.

Colbert had been picked up in a joint arrest couple of years ago, along with 24 others, whenever he was caught red-handed for an illegal sports to his involvement betting band in Queens, NY. He originally was looking at eights counts of conspiracy, corruption and cash laundering, but the Queens case was dismissed and also the matter of his moving $100K in gambling profits from nevada to New York was forwarded to the U.S. Attorney’s docket.

Although 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 singing like a bird so he can fly totally free in December? Time will tell.

To his credit Amaitis did reportedly aid within the rebuilding of parent business Cantor Fitzgerald after the September attacks that are 11th the planet Trade Center, where the company lost about 2/3rds of their workers. Amaitis was at London during the right time, heading up the company’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 began back East with the original property that has become the much-sought-after Atlantic Club in nj’s video gaming mecca appears to be placing a lot of energy into reclaiming his stakes in that component of the planet. The wind will blow in Massachusetts for approval of his proposed Everett, Massachusetts project, he is also waiting to get word on another new resort casino destined for the Philadelphia, Pennsylvania area while gaming mogul Steve Wynn waits to see which way.

No Decisions Till Next Spring

Wynn will have to hold back until early Spring 2014, from the looks from it, nevertheless; that is when chairman associated with the Pennsylvania Gaming Control Board William H. Ryan, Jr. states the selected project for Philly’s coveted casino that is second should be determined. With six candidates waiting eagerly in the wings, you will have a general public hearing held in January to greatly help decide which one will be the best fit, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in Las Vegas.

‘The hearings gives applicants an opportunity to give the board and make their situation for why they should be granted the permit,’ Lerner stated in a research note that is released. ‘It is possible bidders that are losing attract the board’s choice to hawaii Supreme Court, which could take roughly six months.’

Wynn’s project is naturally planned out in-depth currently, with Wynn Resorts teaming up with a bevy of partners to build this second Philadelphia resort casino ( the HSP Gaming’s SugarHouse was up since 2010 in the town 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, adjacent to a 300-room resort, all developed on a waterfront property that is 60-acre.

This will be Wynn Resorts second go at a Philly property; they were in the running straight back in 2010 with a $600 million project, but pulled out before a decision ended up being made at the period.

The proposed Philly casino plus the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the board that is drawing they will also be working on a $4 billion casino for Macau’s Cotai Strip.

Is Pennsylvania Market Leveling Out?

Since 2010, it might probably now be tougher for Wynn to crack into the Pennsylvania market; industry expert David Schwartz who heads up the Gaming Research Center at Las vegas, nevada’ University of Nevada (UNLV), says that region has significantly leveled down in growth (a pattern that is being seen across the U.S. within the land video gaming areas these days) in the past few years.

‘After six years of really blockbuster development, now it generally seems 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 specific situation is not even close to hopeless, noting equivalent dire predictions were attached to the Las Vegas market several times, in 1989, 1993, and again in 1998. He states a new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.

Nj Online Gambling Establish Plan Officially Announced

Coming to New Jersey, just in time for Thanksgiving: Internet gambling enterprises

This has been a wait that is long but as expected, nj-new jersey’s venture into the realm of online gambling will start on November 26, enabling state residents to begin playing their favorite 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 November 21. At that time, just a limited amount of invited guests will be able to play in the sites. Presuming that all goes well with web sites in that period, then complete scope, a real income online gambling will begin at 9 a.m. local time on the 26th.

The rules for playing on nj-new jersey’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 necessary to reside there. All players will have become at the very least 21 years of age.

So far, nine of the 12 casinos in Atlantic City have announced partnerships with computer software providers that enables them to launch their Web 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 online that is first web site hitting in Nevada (Caesars Interactive has launched a 2nd site there). Meanwhile, the Tropicana Casino and Resort will partner with Gamesys Limited. Finally, the Golden Nugget has announced that it shall be using Bally Technologies.

Dropping Profits for AC Land Casinos

The web gambling launch will come as being a welcome possibility for the struggling Atlantic City casino gambling industry. In 2006, Atlantic City’s gambling revenues peaked at an all-time high of $5.2 billion. But in the previous few years, lots of new casino properties in Pennsylvania, New York, Maryland and other regionally competitive areas have chipped away at that income, which endured just over $3 billion last year and could fall below that mark in 2013. This autumn became all the more precipitous after Hurricane Sandy caused heavy damage to the New Jersey coast in belated 2012. That has led to a loss in jobs and tax revenue for their state.

Maybe Not everyone is convinced that online gambling shall make much of an effect. Some are worried 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 web impact are going to be positive, providing essential income for the floundering queenofthenileslots.org casinos there.

New Jersey’s Internet gambling legislation had been passed 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 year before, citing issues that the bill might not pass muster that is constitutional. But the new version of the law was approved after Christie first issued a veto that is conditional which permitted legislators in order to make some minor changes to the bill, including requiring it to expire in a decade so that legislators would have a way to debate its merits again in ten years.

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