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

Maybe Not a day goes by in the gaming universe without someone in a position of energy somewhere being scrutinized by the feds anymore, this indicates. Now Cantor Gaming CEO Lee Amaitis is under the limelight, 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 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 he participated in unlawful bookmaking is baseless and false.’

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

Accepting wagers from ‘runners’ people who 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 the Cantor that is new Gaming and sports books at the Atlantis Casino on Paradise Island in the Bahamas. The company now has eight sports publications in Las Vegas, runs the Palms Casino poker room, and provides mobile betting apps, along with the new Atlantis book, which will be 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 already entered their guilty plea up to a single felony charge of conspiracy in A new york federal courthouse (bet we can guess which one). According to documents, he’ll receive sentencing Dec. 9, joining so numerous others who will likely be having a great visit to the joint from the world that is wonderful of.

Colbert had been picked up in a joint arrest two years ago, along side 24 others, whenever he was caught red-handed for an illegal sports to his involvement betting band in Queens, NY. He originally was searching at eights counts of conspiracy, corruption and cash laundering, but the Queens case had been dismissed plus 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 his credit Amaitis did apparently aid in 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 at 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 off back East with the original property that has now get to be the much-sought-after Atlantic Club in nj-new jersey’s video gaming mecca seems to be placing a lot of energy into reclaiming their stakes in that component of the planet. 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 is when chairman for the Pennsylvania Gaming Control Board William H. Ryan, Jr. claims the chosen project for Philly’s coveted 2nd casino license should be determined. With six applicants waiting eagerly in the wings, there will be a public hearing held in January to help determine which one would be the fit that is best, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in Las vegas, nevada.

‘The hearings gives applicants an opportunity to give the board and make their situation for why they should be awarded the permit,’ Lerner stated in a research note that is released. ‘It is possible bidders that are losing attract the board’s decision to the state Supreme Court, which could take approximately 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 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 in the operating back in 2010 by having lucky nugget casino number a $600 million task, but pulled out before a decision ended up being made at that time.

The proposed Philly casino as well as the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they are also working on a $4 billion casino for Macau’s Cotai Strip.

Is Pennsylvania Market Leveling Out?

Since 2010, it might probably now be tougher for Wynn to crack in 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 somewhat leveled away in growth (a pattern that is being seen across the U.S. into the land gaming markets today) into the past few years.

‘After six years of actually blockbuster growth, now it appears 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 specific situation is far from 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 says A wynn that is new resorts 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 wait that is long but as expected, nj-new jersey’s endeavor into the realm of Web gambling begins on November 26, allowing state residents to start playing their favorite 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 begin a ‘soft play’ launch on November 21. At that point, merely a limited wide range of invited guests will be able to play on the sites. Assuming that all goes well with web sites in that period, then full scope, real money online gambling will begin at 9 a.m. local time on the 26th.

The principles for playing on New Jersey’s gambling sites are going to be easy. In order to play, users will physically have to be located within brand New Jersey, but are not required to live there. All players has become at the very least 21 years of age.

To date, nine of the 12 casinos in Atlantic City have announced partnerships with pc 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 who 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, even though the Taj Mahal will use Ultimate Gaming, which already has experience now running the online that is first 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 will be using Bally Technologies.

Dropping Revenues for AC Land Casinos

The online gambling launch will come being a opportunity that is welcome the struggling Atlantic City casino gambling industry. In 2006, Atlantic City’s gambling revenues peaked at an all-time high of $5.2 billion. But in the last few years, a number of brand new casino properties in Pennsylvania, New York, Maryland and other regionally competitive locations have actually chipped away at that revenue, which endured at just over $3 billion year that is last could fall below that mark in 2013. This fall became all the more precipitous after Hurricane Sandy caused heavy harm to the newest Jersey coast in late 2012. That has generated a lack of jobs and tax revenue for the state.

Perhaps 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 believe the net effect are going to be positive, providing much needed income for the floundering casinos there.

New Jersey’s Internet gambling law ended up being passed away 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 12 months before, citing concerns that the bill might not pass constitutional muster. Nevertheless the new version of 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 so that legislators would have a way to debate its merits again in ten years.