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
Maybe Not a day goes by in the gaming world without someone in a position of power 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 whom pled guilty month that is just last knowingly accepting unlawful wagers.
Denial from the Top
Parent business Cantor Fitzgerald was fast 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 he participated in illegal bookmaking is false and baseless.’
Of course, Anthony Weiner additionally vehemently denied he was still sexting, so there you go regarding denials of rumors.
Accepting wagers from ‘runners’ people who place wagers for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It could certainly behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for a new Cantor Gaming race 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 room, and offers mobile betting apps, combined with the new Atlantis book, that is 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 vice-president that is former has recently entered their guilty plea to a single felony charge of conspiracy in A new york federal courthouse (bet we can guess what type). Based on court documents, he’ll get sentencing Dec. 9, joining so numerous others who are having an enjoyable holiday in the joint from the world that is wonderful of.
Colbert was found in a joint arrest couple of years ago, along side 24 others, when he was caught red-handed for his participation with an illegal sports betting ring in Queens, NY. He originally was searching at eights counts of conspiracy, money and corruption laundering, but the Queens case ended up being dismissed and 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 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 totally free in December? Time will tell.
To their credit Amaitis did reportedly aid into the rebuilding of parent company Cantor Fitzgerald after the September attacks that are 11th the planet Trade Center, when the company destroyed about 2/3rds of their workers. Amaitis was in London during the 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 began back East with the original property that has now get to be the much-sought-after Atlantic Club in nj’s gaming mecca seems to be placing a lot of energy into reclaiming his stakes for the reason that part 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 have to wait until early Spring 2014, from the looks of it, but; that is when chairman associated with the Pennsylvania Gaming Control Board William H. Ryan, Jr. says the selected project for Philly’s coveted casino that is second should be determined. With six candidates waiting eagerly in the wings, you will have a general public hearing held in January to greatly help decide which one will be the fit that is best, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in Las Vegas.
‘The hearings gives applicants a chance to show the board and make their case for why they should be granted the license,’ Lerner stated in a research note that is released. ‘It is possible losing bidders could charm the board’s decision to hawaii 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 lovers to build this Philadelphia that is second resort ( 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 second go at a Philly property; they were in the operating straight back in 2010 having a $600 million project, but pulled out before a decision was made at the period.
The proposed Philly casino as well as the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they are also focusing on a $4 billion casino for Macau’s Cotai Strip.
Is Pennsylvania Market Leveling Out?
Since 2010, it might now be tougher for Wynn to crack to the Pennsylvania market; industry expert David Schwartz who heads up the Gaming Research Center at Las vegas, nevada’ University of Nevada (UNLV), says that region has significantly leveled out in growth (a pattern that is being seen across the U.S. in the land gaming markets today) into the past several years.
‘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’s really a $3 billion industry.’
But Schwartz adds that the problem is far from hopeless, noting exactly the same predictions that are dire connected to the Las Vegas market a few 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 Online Gambling Launch Plan Formally Announced
Coming to nj-new Jersey, just in time for Thanksgiving: Internet casinos
This has been a long wait, but as anticipated, nj-new jersey’s endeavor into the realm 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 21 november. At that time, just a limited number of invited guests will be able to play in the sites. Presuming that all goes well with the sites for the reason that period, then complete 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 simple. In order to try out, users will need to be physically located within New Jersey, but are not essential to live there. All players has become at least 21 years of age.
To date, nine of the 12 casinos in Atlantic City have announced partnerships with computer software providers that will allow them to launch their Internet gambling enterprises, while a 10th the Trump Plaza is rumored to have partner with Betfair, though which includes yet to be confirmed.
The Borgata is known to be working with indian dreaming slot machine game download bwin.party, while Caesars Entertainment which owns four Atlantic City properties will be partnering with 888 Holdings among the confirmed partnerships. Meanwhile, Resorts Casino Hotel has announced a partnership with PokerStars, while the Taj Mahal will utilize Ultimate Gaming, which already has experience now running the first internet poker web site going to in Nevada (Caesars Interactive has now 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 dealing with Bally Technologies.
Dropping Profits for AC Land Casinos
The online 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. However in the previous couple of years, lots of 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 much more precipitous after Hurricane Sandy caused damage that is heavy the newest Jersey shore in belated 2012. That has resulted in a lack of jobs and tax revenue for their state.
Maybe Not everyone is convinced that on line gambling will make much of an impact. 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 industry officials that are most think the web impact are good, providing much needed income for the floundering casinos there.
New Jersey’s Internet gambling law 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 similar law the year before, citing concerns that the bill might not pass constitutional muster. Nevertheless the new version associated with the law was approved after Christie first issued a veto that is conditional which allowed legislators to produce some minor changes to the bill, including requiring it to expire in a decade in order that legislators would have a chance to debate its merits again in ten years.