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

Maybe 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 coat tail of colleague Michael Colbert Cantor’s now released vice president of danger management whom pled guilty month that is just last knowingly accepting unlawful bets.

Denial through the Top

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

Of program, Anthony Weiner also vehemently denied he was still sexting, so there you go when it comes to denials of rumors.

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

It could undoubtedly behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for a new Cantor Gaming competition and activities books at the Atlantis Casino on Paradise Island in the Bahamas. The company now has eight sports books in Las Vegas, operates the Palms Casino poker space, and provides mobile betting apps, along with the Atlantis that is new book which 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 former vice-president Colbert has recently entered their guilty plea up to a solitary felony fee of conspiracy in a ny federal courthouse (bet we can guess what type). Based on court papers, he’ll get sentencing Dec. 9, joining so numerous others who will likely be having a great holiday in the joint from the world that is wonderful of.

Colbert was found in a joint arrest 2 yrs ago, along with 24 others, when he was caught red-handed for his participation with an illegal recreations betting band 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, 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 performing like a bird so he can fly free in December? Time will tell.

To their credit Amaitis did reportedly aid within the rebuilding of parent business Cantor Fitzgerald after the September 11th attacks on the entire world Trade Center, when the company destroyed about 2/3rds of their workers. Amaitis was in London during the time, heading up the company’s international dealings.

Wynn Eyes Philadelphia for Next Casino Resort Project

Wynn Resorts is certainly 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 get to be the much-sought-after Atlantic Club in nj’s gaming mecca is apparently putting a lot of energy into reclaiming his stakes in that component of the planet. 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 can be waiting to obtain word on another brand new resort casino destined for the Philadelphia, Pennsylvania area.

No Decisions Till Next Spring

Wynn will need to wait until early Spring 2014, through the looks of it, nevertheless; that is when chairman associated with the Pennsylvania Gaming Control Board William H. Ryan, Jr. claims the chosen project for Philly’s coveted casino that is second should be determined. With six applicants waiting eagerly in the wings, there will be a public hearing held in January to help determine which one would be the best fit, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in nevada.

‘The hearings will give applicants an opportunity to show the board and make their case for why they should be awarded the license,’ Lerner stated in a released research note. ‘It is possible losing bidders could appeal the board’s choice to hawaii Supreme Court, which could take approximately 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 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 given the high sign, to create a 150,000-square-foot casino that would house 900 https://casino-online-australia.net/indian-dreaming-slot-review/ 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 go at a second Philly property; they were in the operating back in 2010 with a $600 million project, but pulled out before a decision had been made at that time.

The proposed Philly casino and also 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 now be tougher for Wynn to crack into the Pennsylvania market; industry expert David Schwartz who heads up the Gaming Research Center at vegas’ University of Nevada (UNLV), says that region has somewhat leveled out in growth (a pattern that is being seen across the U.S. into the land gaming areas today) in the past couple of years.

‘After six years of really blockbuster development, now it 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 situation is far from hopeless, noting equivalent predictions that are dire attached to the Las Vegas market a few 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 Launch Plan Formally Announced

Coming to nj-new Jersey, just in time for Thanksgiving: Internet casinos

It has been a wait that is long but as anticipated, New Jersey’s endeavor into the world of online gambling begins on November 26, permitting state residents to start 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 the ability to begin a ‘soft play’ launch on 21 november. When this occurs, just a number that is limited of guests will be able to play regarding the sites. Assuming 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 guidelines for playing on New Jersey’s gambling sites is easy. In order to play, users will physically have to be located within brand New Jersey, but are not essential to live there. All players could have to be at the least 21 years of age.

To date, nine of the 12 casinos in Atlantic City have announced partnerships with software providers that allows 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 resort has announced a partnership with PokerStars, even though the Taj Mahal will use Ultimate Gaming, which already has experience now running the first on-line poker site to hit in Nevada (Caesars Interactive has now launched a second site there). Meanwhile, the Tropicana Casino and Resort will mate with Gamesys Limited. Finally, the Golden Nugget has announced that it shall be working together with Bally Technologies.

Dropping Revenues for AC Land Casinos

The web gambling launch will come as 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, nyc, Maryland and other regionally competitive locations have chipped away at that revenue, which endured just over $3 billion last year and could fall below that mark in 2013. This autumn became even more precipitous after Hurricane Sandy caused heavy harm to the New Jersey coast in belated 2012. That has led to a lack of jobs and income tax revenue for hawaii.

Not everyone is convinced that online gambling shall make much of an impact. 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 most industry officials believe the internet effect will be positive, providing necessary revenue for the floundering casinos there.

New Jersey’s Internet gambling legislation ended up being passed away by both houses and signed 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 constitutional muster. But the new version for the law was approved after Christie first issued a veto that is conditional which permitted legislators to help make some minor changes to the bill, including requiring it to expire in a decade making sure that legislators would have an opportunity to debate its merits again in ten years.

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