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 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 layer tail of colleague Michael Colbert Cantor’s now released vice president of danger management who pled guilty month that is just last knowingly accepting unlawful wagers.
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 reckless 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 additionally vehemently denied he was still sexting, therefore there you go in terms of denials of rumors.
Accepting wagers from ‘runners’ people who spot wagers for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It might 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 in the Bahamas. The company now has eight sports books in Las Vegas, runs the Palms Casino poker room, and offers mobile betting apps, along with the new Atlantis guide, 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 former vice-president Colbert has recently entered his guilty plea to a single felony fee of conspiracy in A new york federal courthouse (bet we can guess which one). Based on documents, he’ll get sentencing Dec. 9, joining so many more who will likely be having a fun holiday in the joint from the world that is wonderful of.
Colbert was acquired in a joint arrest 2 yrs ago, along side 24 others, when he had been caught red-handed for an illegal sports to his involvement betting ring in Queens, NY. He originally was searching at eights counts of conspiracy, money and corruption laundering, but the Queens case was dismissed and the matter of his moving $100K in gambling profits from Las Vegas to New York was forwarded to the U.S. Attorney’s docket.
Even though 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 singing like a bird so he can fly free in December? Time will tell.
To their credit Amaitis did reportedly aid in the rebuilding of parent business Cantor Fitzgerald after the September 11th attacks on the planet Trade Center, where the company lost about 2/3rds of their workers. Amaitis was in London during the time, heading up business’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 property that is original has end up being the much-sought-after Atlantic Club in New Jersey’s video gaming mecca is apparently placing a lot of energy into reclaiming his stakes for the reason that component of the entire world. While video gaming mogul Steve Wynn waits to see which means the wind will blow in Massachusetts for approval of his proposed Everett, Massachusetts project, he normally waiting to have word on another 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, nonetheless; that’s when chairman of the Pennsylvania Gaming Control Board William H. Ryan, Jr. states the selected project for Philly’s coveted casino that is second should be determined. With six applicants waiting eagerly in the wings, you will have a general public hearing held in January to greatly help decide what type will be the best fit, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in nevada.
‘The hearings can give applicants an opportunity to give the board and make their situation for why they should be granted the license,’ Lerner stated in a released research note. ‘It is possible losing bidders could appeal the board’s decision to the state indian dreaming slot youtube Supreme Court, which could take roughly 6 months.’
Wynn’s project is naturally planned out in-depth currently, with Wynn Resorts teaming up with a bevy of lovers to build this second Philadelphia resort casino ( 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 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 waterfront property that is 60-acre.
This will be Wynn Resorts go at a second Philly property; they had been into the running back in 2010 by having a $600 million task, but pulled out before a decision had been made at the period.
The proposed Philly casino while the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; 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 really blockbuster growth, 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 not even close to hopeless, noting the exact same predictions that are dire connected 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 Launch Plan Officially Announced
Coming to nj-new Jersey, just in time for Thanksgiving: Internet casinos
This has been a long wait, but as anticipated, nj’s endeavor into the world of Internet gambling will begin on November 26, allowing state residents to begin 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 be able to begin a ‘soft play’ launch on November 21. At that point, merely a number that is limited of guests will be able to play in the sites. Presuming that all goes well with web sites for the reason 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 nj’s gambling sites is going to be simple. In order to try out, users will need to be physically located within New Jersey, but are not necessary to reside there. All players may have to be at least 21 years of age.
So far, nine of the 12 casinos in Atlantic City have announced partnerships with pc 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 which includes yet to be confirmed.
One of the confirmed partnerships, the Borgata is understood to be working together with bwin.party, while Caesars Entertainment which owns four Atlantic City properties will be partnering with 888 Holdings. Meanwhile, Resorts Casino resort has announced a partnership with PokerStars, while the Taj Mahal will use Ultimate Gaming, which already has experience now running the online that is first web site hitting 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 working together with Bally Technologies.
Dropping Profits 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 a high that is all-time of5.2 billion. But in the previous few years, a number of brand new casino properties in Pennsylvania, nyc, Maryland and other regionally competitive places have actually chipped away at that revenue, which endured just over $3 billion year that is last could fall below that mark in 2013. This fall became even more precipitous after Hurricane Sandy caused heavy damage to this new Jersey coast in late 2012. That has led to a loss in jobs and taxation revenue for their state.
Perhaps Not everyone is convinced that on the web gambling shall make much of an impact. Some are concerned that it may just shift players who typically arrived to gamble in the casino to online video gaming, which could also be harmful, while they will not be purchasing rooms in hotels and food or shopping at the casino resorts. But most industry officials believe the net impact is good, providing necessary income 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 comparable 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 produce some minor changes to the bill, including requiring it to expire in a decade in order that legislators would have an opportunity to debate its merits again in ten years.
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