Cantor Gaming CEO Under Possible Investigation by Feds
CEO Lee Amaitis (center) recently opened the Cantor Gaming Atlantis sports book; some say he is under federal scrutiny now
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 limelight, according to the The Wall Street Journal, on the coat tail of colleague Michael Colbert Cantor’s now released vice president of risk management who pled guilty month that is just last knowingly accepting illegal wagers.
Denial from the Top
Parent business Cantor Fitzgerald was fast to deny the rumor, however, saying within 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 that he participated in illegal bookmaking is baseless and false.’
Of course, Anthony Weiner additionally vehemently denied he was still sexting, therefore there you go when it comes to denials of rumors.
Accepting wagers from ‘runners’ people whom 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 a brand new Cantor Gaming battle and recreations books at the Atlantis Casino on Paradise Island within the Bahamas. The company now has eight sports publications in Las Vegas, operates the Palms Casino poker room, and offers mobile betting apps, combined with Atlantis that is indian dreaming slot app new book that is 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 made by authorities. Yet.
33-year-old vice-president that is former has already entered their guilty plea up to a single felony cost of conspiracy in a ny federal courthouse (bet we can guess what type). Based on documents, he’ll get sentencing Dec. 9, joining so many more who will be having a fun vacation in the joint from the world that is wonderful of.
Colbert was found in a joint arrest couple of years ago, along side 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, money and corruption laundering, but the Queens case had been dismissed and the matter of his moving $100K in gambling profits from Las vegas, nevada 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 their credit Amaitis did reportedly aid into the rebuilding of parent company Cantor Fitzgerald after the September attacks that are 11th the entire world Trade Center, when the company destroyed about 2/3rds of their workers. 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 whom started out back East with the original property that has now end up being the much-sought-after Atlantic Club in nj-new jersey’s gaming mecca seems to be putting a lot of energy into reclaiming his stakes for the reason that component of the entire world. While 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 to have word on another new resort casino destined for the Philadelphia, Pennsylvania area.
No Decisions Till Next Spring
Wynn will have to hold back until early Spring 2014, through the looks from it, but; that’s when chairman of the Pennsylvania Gaming Control Board William H. Ryan, Jr. states the selected project for Philly’s coveted second casino permit should be determined. With six applicants waiting eagerly in the wings, you will see a general public hearing held in January to greatly help decide what type would be the fit that is best, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in Las Vegas.
‘The hearings gives applicants a chance to present to the board and make their instance for why they should be awarded the permit,’ Lerner stated in a released research note. ‘It is possible losing bidders could appeal the board’s decision to hawaii Supreme Court, which could take roughly half a year.’
Wynn’s project is naturally planned out in-depth already, with Wynn Resorts teaming up with a bevy of lovers to build this Philadelphia that is second resort ( the HSP Gaming’s SugarHouse has been 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, next to a 300-room resort, all developed on a 60-acre waterfront property.
This will be Wynn Resorts go at a second Philly property; they were within the running back in 2010 having a $600 million task, but pulled out before a decision had been made at that point.
The proposed Philly casino plus the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they will also be working on 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 nevada’ University of Nevada (UNLV), says that region has somewhat leveled out in growth (a pattern that is being seen across the U.S. in the land video gaming markets these days) within the past few years.
‘After six years of really blockbuster growth, now it generally seems to have leveled off,’ Schwartz said. ‘Remember, it went from zero to $3 billion. It could be because it is a $3 billion industry.’
But Schwartz adds that the situation is definately not hopeless, noting the exact same dire predictions were connected to the Las Vegas market a few times, in 1989, 1993, and again in 1998. He says a brand new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.
Nj Online Gambling Launch Plan Formally Announced
Coming to nj-new Jersey, just in time for Thanksgiving: Internet casinos
It has been a long wait, but as expected, New Jersey’s venture into the world of Web gambling will begin on November 26, permitting state residents to start 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 the ability to commence a ‘soft play’ launch on November 21. At that point, only a limited amount of invited guests will be able to play on the sites. Assuming that all goes well with the websites for the reason that period, then full range, real money online gambling will begin at 9 a.m. local time on the 26th.
The principles for playing on New Jersey’s gambling sites are easy. In order to try out, users will need to be physically located within brand New Jersey, but are not essential to reside there. All players will have become at least 21 years of age.
So far, nine of the 12 casinos in Atlantic City have announced partnerships with pc software providers that allows them to launch their Internet gambling enterprises, while a 10th the Trump Plaza is rumored to have partner with Betfair, though that has 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, although the Taj Mahal will utilize Ultimate Gaming, which already has experience now running the online that is first site to hit 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 dealing with Bally Technologies.
Dropping Revenues for AC Land Casinos
The web gambling launch will come as 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 last few years, lots of new casino properties in Pennsylvania, ny, Maryland and other regionally competitive places have chipped away at that income, which stood at only over $3 billion last 12 months and could fall below that mark in 2013. This autumn became even more precipitous after Hurricane Sandy caused heavy damage to the newest Jersey shore in belated 2012. That has resulted in a loss of jobs and income tax revenue for hawaii.
Maybe Not everyone is convinced that on the web gambling shall make much of an impact. 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 most industry officials believe the internet impact will likely be good, providing much needed revenue for the floundering casinos there.
New Jersey’s Internet gambling legislation 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 year before, citing concerns that the bill might not pass constitutional muster. Nevertheless the new version regarding the law was approved after Christie first issued a conditional veto, which allowed legislators to create some small changes to the bill, including requiring it to expire in a decade so that legislators would have a chance to debate its merits again in ten years.