404 Cantor Gaming CEO Under Possible Investigation by Feds

Cantor Gaming CEO Under Possible Investigation by Feds

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

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 danger management who pled guilty month that is just last knowingly accepting unlawful bets.

Denial from the Top

Parent business Cantor Fitzgerald was quick to deny the rumor, however, saying within 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 unlawful bookmaking is baseless and false.’

Of course, Anthony Weiner additionally vehemently denied he was still sexting, therefore there you go with regards to denials of rumors.

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

It would definitely behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for the Cantor that is new Gaming and recreations 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 space, and provides mobile betting apps, combined with Atlantis that is new 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 former vice-president Colbert has already entered their guilty plea up to a solitary felony charge of conspiracy in A new york federal courthouse (bet we can guess what type). Based on documents, he’ll get sentencing Dec. 9, joining so many more who are going to be having a great vacation in the joint from the world that is wonderful of.

Colbert had been found in a joint arrest couple of years ago, along with 24 others, whenever he had been caught red-handed for their involvement with an illegal activities betting band in Queens, NY. He originally was looking at eights counts of conspiracy, corruption and money laundering, but the Queens case ended up being dismissed therefore 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 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 apparently aid in the rebuilding of parent company Cantor Fitzgerald after the September 11th attacks on the hello disneyland lucky nugget entire world Trade Center, when the company destroyed about 2/3rds of their workers. Amaitis was in London during the right time, heading up the 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 off back East with the original home that has now end up being the much-sought-after Atlantic Club in New Jersey’s gaming mecca appears to be putting a lot of energy into reclaiming his stakes in that part of the planet. While gaming mogul Steve Wynn waits to see which means the wind will blow in Massachusetts for approval of their proposed Everett, Massachusetts project, he is also waiting to have word on another brand new resort casino destined for the Philadelphia, Pennsylvania area.

No Decisions Till Next Spring

Wynn will have to wait until early Spring 2014, through the looks of it, however; that’s when chairman associated with Pennsylvania Gaming Control Board William H. Ryan, Jr. states the selected project for Philly’s coveted second casino license should be determined. With six applicants waiting eagerly in the wings, you will have a general public hearing held in January to simply help determine what type would be the best fit, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in vegas.

‘The hearings will give applicants a chance 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 bidders that are losing impress the board’s choice to their state Supreme Court, which could take approximately half a year.’

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 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 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 waterfront property that is 60-acre.

This will be Wynn Resorts go at a second Philly property; they were within the running straight back in 2010 having a $600 million project, but pulled out before a decision ended up being made at that point.

The proposed Philly casino plus 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 would likely now be tougher for Wynn to crack to the Pennsylvania market; industry expert David Schwartz who heads up the Gaming Research Center at nevada’ University of Nevada (UNLV), says that region has notably leveled out in growth (a pattern that is being seen across the U.S. in the land gaming markets these days) into the past several years.

‘After six years of really blockbuster development, now it generally seems to have leveled off,’ Schwartz said. ‘Remember, it went from zero to $3 billion. It may be because it is a $3 billion industry.’

But Schwartz adds that the specific situation is not even close to hopeless, noting exactly the same dire predictions were connected to the Las Vegas market several times, in 1989, 1993, and again in 1998. He states A wynn that is new resorts in Philadelphia could very possibly reinvigorate the industry there.

Nj-new Jersey Online Gambling Publish Plan Formally Announced

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

It’s been a wait that is long but as expected, nj’s endeavor into the realm of Internet gambling will begin on November 26, enabling 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 November 21. At that time, only a number that is limited of guests should be able to play on the sites. Assuming that all goes well with the sites in that period, then complete range, real money online gambling will begin at 9 a.m. local time on the 26th.

The rules for playing on nj’s gambling sites will likely be 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 has to be at least 21 years of age.

Thus far, nine of the 12 casinos in Atlantic City have announced partnerships with pc software providers that enables them to launch their Web gambling enterprises, while a 10th the Trump Plaza is rumored to have partner with Betfair, though that has yet to be confirmed.

On the list of confirmed partnerships, the Borgata is known to be working together with bwin.party, while Caesars Entertainment which owns four Atlantic City properties is partnering with 888 Holdings. 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 first on-line poker web site to hit in Nevada (Caesars Interactive has launched a second site there). Meanwhile, the Tropicana Casino and Resort will partner with Gamesys Limited. Finally, the Golden Nugget has announced that it will be working with Bally Technologies.

Dropping Profits 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 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, ny, Maryland and other regionally competitive areas have 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 even more precipitous after Hurricane Sandy caused damage that is heavy this new Jersey shore in late 2012. That has generated a loss in jobs and taxation revenue for their state.

Maybe Not everyone is convinced that on the web gambling will make much of an effect. 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 think the internet impact are going to be good, providing necessary revenue for the floundering casinos there.

New Jersey’s Internet gambling legislation had been passed away 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 constitutional muster. However the new version for the law was approved after Christie first issued a conditional veto, which permitted legislators to help make some minor changes to the bill, including requiring it to expire in a decade to make certain that legislators would have a way to debate its merits again in ten years.