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 risk management who pled guilty just last month to knowingly accepting unlawful wagers.

Denial from the Top

Parent company Cantor Fitzgerald was fast to deny the rumor, however, saying in a 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 also vehemently denied he was still sexting, therefore there you go regarding denials of rumors.

Accepting wagers from ‘runners’ people whom spot 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 Cantor that is new Gaming and sports books at the Atlantis Casino on Paradise Island into the Bahamas. The company now has eight sports books in Las Vegas, operates the Palms Casino poker room, and offers mobile betting apps, combined with new Atlantis book, which can be their first run outside of Nevada.

No Allegations Officially Made

Cantor Fitzgerald was 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 entered their guilty plea to a solitary felony charge of conspiracy in a ny federal courthouse (bet we can guess which one). In accordance with documents, he’ll get sentencing Dec. 9, joining so many others who will likely be having a fun visit to the joint from the world that is wonderful of.

Colbert had been picked up in a joint arrest two years ago, along with 24 others, whenever he was caught red-handed for an illegal sports to his involvement betting ring in Queens, NY. He originally was looking at eights counts of conspiracy, money and corruption laundering, but the Queens case had been dismissed while the matter of his moving $100K in gambling profits from vegas 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 totally free in December? Time will tell.

To their credit Amaitis did apparently aid in the rebuilding of parent business Cantor Fitzgerald after the September 11th attacks on the planet Trade Center, in which the company lost about 2/3rds of their workers. Amaitis was in London during the right 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 home that has become the much-sought-after Atlantic Club in nj’s video gaming mecca appears to be putting a lot of energy into reclaiming his stakes for the reason that component of the entire world. 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, from the looks of it, nevertheless; that’s when chairman for the Pennsylvania Gaming Control Board William H. Ryan, Jr. says the selected project for Philly’s coveted 2nd casino license should be determined. With six candidates waiting eagerly in the wings, there will be a general public hearing held in January to help determine which one is the fit that is best, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in nevada.

‘The hearings will give applicants a chance to present to the board and make their situation for why they should be awarded the license,’ Lerner stated in a released research note. ‘It is possible losing bidders could charm the board’s choice to the state 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 partners to build this second Philadelphia resort casino ( the HSP Gaming’s SugarHouse has been 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 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 within the operating straight back in 2010 with a $600 million task, but pulled out before a decision was made at that time.

The proposed Philly casino plus the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the board that is drawing they will 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 might be because it is a $3 billion industry.’

But Schwartz adds that the problem is definately not hopeless, noting equivalent predictions that are dire attached to the Las Vegas market a few times, in 1989, 1993, and again in 1998. He claims a brand new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.

Nj Online Gambling Publish Plan Officially Announced

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

This has been a long wait, but as expected, New Jersey’s endeavor into the realm of Internet gambling will start on November 26, permitting 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 a way to start a ‘soft play’ launch on 21 november. At that point, merely a limited quantity of invited guests should be able to play regarding the sites. Presuming that all goes well with the 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 simple. In order to relax and play, users will physically have to be located within brand New Jersey, but are not necessary to live there. All players https://casino-bonus-free-money.com/lucky-nugget-casino/ need become at the very least 21 years of age.

Thus far, nine of the 12 casinos in Atlantic City have announced partnerships with pc software providers that will allow them to launch their online casinos, 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 resort has announced a partnership with PokerStars, as the Taj Mahal will make use of Ultimate Gaming, which already has experience now running the online that is first site going to in Nevada (Caesars Interactive has now launched a 2nd 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 internet 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. But in the previous couple of years, a number of brand new casino properties in Pennsylvania, nyc, Maryland and other regionally competitive areas have actually chipped away at that income, which endured at only over $3 billion year that is last could fall below that mark in 2013. This autumn became all the more precipitous after Hurricane Sandy caused damage that is heavy the latest Jersey coast in belated 2012. That has led to a lack of jobs and income tax revenue for hawaii.

Perhaps Not everyone is convinced that on line 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 think the net effect is going to be good, providing necessary revenue for the floundering casinos there.

New Jersey’s Internet gambling law ended up being passed 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 year before, citing concerns that the bill might not pass muster that is constitutional. However the new version associated with the law was approved after Christie first issued a veto that is conditional which allowed legislators to make some small changes to the bill, including requiring it to expire in a decade making sure that legislators would have a chance to debate its merits again in ten years.