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
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 coat tail of colleague Michael Colbert Cantor’s now released vice president of danger management whom pled guilty simply last month to knowingly accepting illegal bets.
Denial from the Top
Parent company Cantor Fitzgerald was quick 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 unlawful bookmaking is baseless and false.’
Of course, Anthony Weiner additionally 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 might certainly behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for a Cantor that is new Gaming and activities 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, combined with Atlantis that is new book which is their first run outside of Nevada.
No Allegations Officially Made
Cantor Fitzgerald was quick to point out that no actual allegations of any wrongdoing by Amaitis have been made by authorities. Yet.
33-year-old vice-president that is former has recently entered their guilty plea up to a single felony fee of conspiracy in a ny federal courthouse (bet we can guess which one). According to court papers, he will receive sentencing Dec. 9, joining so numerous others who are going to be having a great vacation in the joint from the world that is wonderful of.
Colbert was picked up in a joint arrest two years ago, along side 24 others, whenever 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 money laundering, but the Queens case was dismissed plus 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 performing like a bird so he can fly totally free in December? Time will tell.
To their credit Amaitis did reportedly aid within the rebuilding of parent company Cantor Fitzgerald after the September 11th attacks on the World Trade Center, in which 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 whom started out back East with the original property that has now end up being the much-sought-after Atlantic Club in New Jersey’s gaming mecca seems 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 need to hold back until early Spring 2014, through the looks of it, nonetheless; that is when chairman for the Pennsylvania Gaming Control Board William H. Ryan, Jr. says the chosen project for Philly’s coveted 2nd casino permit should be determined. With six applicants waiting eagerly in the wings, you will see a public hearing held in January to help decide what type is the best fit, 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 case for why they should be awarded the license,’ Lerner stated in a released research note. ‘It is possible losing bidders could attract the board’s choice to their state Supreme Court, which could take roughly six months.’
Wynn’s project is naturally planned out in-depth already, with Wynn Resorts teaming up with a bevy of lovers to build this second Philadelphia resort casino ( the HSP Gaming’s SugarHouse was 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 given 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 60-acre waterfront property.
This will be Wynn Resorts second go at a Philly property; they were in the operating back in 2010 with a $600 million task, but pulled out before a decision had been made at the period.
The proposed Philly casino and the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they may also be taking care of a $4 billion casino for Macau’s Cotai Strip.
Is Pennsylvania Market Leveling Out?
These days) in the past few years since 2010, it may 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’ 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 gaming markets.
‘After six years of actually blockbuster development, 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 problem is not even close to hopeless, noting the same dire predictions were connected 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-new Jersey Online Gambling Establish Plan Officially 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 online gambling will begin on November 26, allowing state residents to begin with 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 start a ‘soft play’ launch on 21 november. At that time, merely a number that is limited of guests should be able to play in the sites. Presuming that all goes well with web sites for the reason that period, then full range, a real income online gambling will begin at 9 a.m. local time on the 26th.
The rules for playing on New Jersey’s gambling sites are going to be simple. In order to try out, users will need to be actually located within brand New Jersey, but are not required to live there. All players could have to be at 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 Internet casinos, while a 10th the Trump Plaza is rumored to have partner with Betfair, though which 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 resort has announced a partnership with PokerStars, although the Taj Mahal will make use of Ultimate Gaming, which already has experience now running the online that is first site to hit in Nevada (Caesars Interactive has 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 dealing with Bally Technologies.
Dropping Revenues for AC Land Casinos
The internet gambling launch will come as being a welcome opportunity for the struggling Atlantic City casino gambling industry. https://casino-online-australia.net/indian-dreaming-slot-review/ In 2006, Atlantic City’s gambling revenues peaked at an all-time high of $5.2 billion. But in the last few years, a number of new casino properties in Pennsylvania, ny, 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 fall became much more precipitous after Hurricane Sandy caused heavy injury to this new Jersey coast in late 2012. That has led to a lack of jobs and income tax revenue for their state.
Maybe Not everyone is convinced that online gambling will make much of an effect. Some are involved so it might just shift players who usually came to gamble in the casino to online gaming, which could also be harmful, because they will not be purchasing resort rooms and food or shopping at the casino resorts. But most industry officials think the internet impact are going to be good, providing essential income for the floundering casinos there.
New Jersey’s Internet gambling law ended up being passed by both houses and finalized into law by Governor Chris Christie earlier this year. That came after Christie had previously vetoed a similar law the 12 months before, citing concerns that the bill might not pass muster that is constitutional. However the new version of this law was approved after Christie first issued a veto that is conditional which permitted legislators to create some small 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.