Cantor Gaming CEO Under Possible Investigation by Feds
CEO Lee Amaitis (center) recently exposed the Cantor Gaming Atlantis sports book; some say he is under federal scrutiny now
Perhaps Not a day goes by in lucky nugget 150 free spins the gaming universe without someone in a place of energy someplace being scrutinized by the feds anymore, this indicates. Now Cantor Gaming CEO Lee Amaitis is under the spotlight, according to the The Wall Street Journal, on the layer tail of colleague Michael Colbert Cantor’s now released vice president of danger management who pled guilty just last month to knowingly accepting unlawful wagers.
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 rumor that is baseless. The notion that Lee Amaitis is a target of federal prosecutors or 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 whom destination wagers for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It would 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 sports 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 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 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 entered their guilty plea to a solitary felony cost of conspiracy in A new york federal courthouse (bet we can guess what type). According to court documents, he can get sentencing Dec. 9, joining so many more who will likely be having a fun vacation in the joint from the wonderful world of gaming.
Colbert was picked up in a joint arrest 2 yrs ago, along with 24 others, whenever he had been caught red-handed for their involvement with an illegal activities betting ring 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 vegas 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 his credit Amaitis did apparently aid within the rebuilding of parent business Cantor Fitzgerald after the September 11th attacks on the World Trade Center, when the company destroyed about 2/3rds of their employees. Amaitis was at London during the right time, heading up the business enterprise’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 began back East with the original home that has end up being the much-sought-after Atlantic Club in nj-new jersey’s video gaming mecca seems to be putting a lot of energy into reclaiming their stakes for the reason that component of the planet. While video gaming mogul Steve Wynn waits to see which means the wind will blow in Massachusetts for approval of their proposed Everett, Massachusetts project, he normally 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, through the looks from it, but; that’s when chairman of the Pennsylvania Gaming Control Board William H. Ryan, Jr. claims the selected project for Philly’s coveted casino that is second should be determined. With six applicants waiting eagerly in the wings, you will see a general public hearing held in January to help decide what type will be the best fit, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in nevada.
‘The hearings can give applicants an opportunity to show 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 allure the board’s decision to the state 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, 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 had been into the running back in 2010 having a $600 million project, but pulled out before a decision ended up being made at that time.
The proposed Philly casino and the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the board that is drawing they are working on a $4 billion casino for Macau’s Cotai Strip.
Is Pennsylvania Market Leveling Out?
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 vegas’ University of Nevada (UNLV), says that region has somewhat leveled away in growth (a pattern that is being seen across the U.S. into the land video gaming areas today) within the past several years.
‘After six years of actually 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 really a $3 billion industry.’
But Schwartz adds that the problem is not even close to hopeless, noting the same predictions that are dire attached to the Las Vegas market a few times, in 1989, 1993, and again in 1998. He says 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
This has been a long wait, but as anticipated, New Jersey’s endeavor into the world of online gambling will begin on November 26, allowing 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 the ability to start a ‘soft play’ launch on 21 november. When this occurs, just a limited number of invited guests will be able to play on the sites. Presuming that all goes well with the 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 nj’s gambling sites will be easy. In order to play, users will have to be actually located within brand New Jersey, but are not essential to live there. All players has to be at the least 21 years of age.
Thus far, nine of the 12 casinos in Atlantic City have announced partnerships with computer software providers that will allow them to launch their Web casinos, while a 10th the Trump Plaza is rumored to have partner with Betfair, though who has yet to be confirmed.
Among the confirmed partnerships, the Borgata is understood to be dealing with bwin.party, while Caesars Entertainment which owns four Atlantic City properties are partnering with 888 Holdings. 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 first internet poker site hitting 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 using Bally Technologies.
Dropping Revenues for AC Land Casinos
The web gambling launch will come as being a opportunity that is welcome the struggling Atlantic City casino gambling industry. In 2006, Atlantic City’s gambling revenues peaked at a high that is all-time of5.2 billion. However in the previous few years, a number of brand new casino properties in Pennsylvania, ny, Maryland and other regionally competitive locations have actually chipped away at that revenue, which stood at only over $3 billion year that is last could fall below that mark in 2013. This autumn became even more precipitous after Hurricane Sandy caused heavy damage to the newest Jersey coast in late 2012. That has led to a lack of jobs and income tax revenue for the state.
Not everyone is convinced that online gambling will 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 most industry officials believe the internet effect are positive, providing necessary revenue for the floundering casinos there.
New Jersey’s Internet gambling law was 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 issues that the bill might not pass muster that is constitutional. But the new version for the law was approved after Christie first issued a conditional veto, which allowed legislators to create some minor changes to the bill, including requiring it to expire in a decade making sure that legislators would have a way to debate its merits again in ten years.