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 coat tail of colleague Michael Colbert Cantor’s now released vice president of risk management whom pled guilty simply last month to knowingly accepting unlawful bets.
Parent business Cantor Fitzgerald was quick 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 illegal bookmaking is baseless and false.’
Of program, Anthony Weiner also vehemently denied he was still sexting, so there you go regarding denials of rumors.
Accepting wagers from ‘runners’ people who destination bets for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It could truly behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for the brand new Cantor Gaming battle 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 space, and offers mobile betting apps, along with the new Atlantis book, which will be their first run outside of Nevada.
Cantor Fitzgerald ended up being 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 what type). Based on documents, he will get sentencing Dec. 9, joining so many more who are having an enjoyable visit to the joint from the wonderful world of gaming.
Colbert had been picked up in a joint arrest two years ago, along side 24 others, when 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 ended up being 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 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 singing 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 business Cantor Fitzgerald after the September attacks that are 11th the entire world Trade Center, when the company destroyed about 2/3rds of their employees. Amaitis was at London at the time, heading up the company’s international dealings.
Wynn Resorts is one of six casino companies pitching to enter the Philadelphia gaming market
The casino legend whom began back East with the property that is original has become the much-sought-after Atlantic Club in New Jersey’s gaming mecca seems to be putting a lot of energy into reclaiming their stakes for the reason that part 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.
Wynn will have to hold back until early Spring 2014, from the looks of it, nevertheless; that’s when chairman associated with the Pennsylvania Gaming Control Board William H. Ryan, Jr. claims the selected project for Philly’s coveted 2nd casino license should be determined. With six applicants waiting eagerly in the wings, you will see a public hearing held in January to help decide which one will be the best fit, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in Las vegas, nevada.
‘The hearings gives applicants a chance to show the board and make their instance for why they should be awarded the license,’ Lerner stated in a research note that is released. ‘It is possible losing bidders could charm the board’s choice to their state Supreme Court, which could take approximately 6 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 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, adjacent to a 300-room resort, all developed on a 60-acre waterfront property.
This will be Wynn Resorts go at a second Philly property; they were in the operating back in 2010 with a $600 million task, but pulled out before a decision ended up being made at that time.
The proposed Philly casino while the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they will also be working on a $4 billion casino for Macau’s Cotai Strip.
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 seems to have leveled off,’ Schwartz said. ‘Remember, it went from zero to $3 billion. It could be because it’s a $3 billion industry.’
But Schwartz adds that the specific situation is far from hopeless, noting similar dire predictions were 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.
Coming to nj-new Jersey, just in time for Thanksgiving: Internet gambling enterprises
It has been a long wait, but as anticipated, nj-new jersey’s venture into the world of Web gambling will begin on November 26, allowing state residents to start playing a common casino games online just in time for Thanksgiving.
According to New Jersey’s Gaming Enforcement Division, Atlantic City’s 12 casinos will have the ability to begin a ‘soft play’ launch on November 21. At that time, just a limited wide range 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 scope, 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 is going to be simple. In order to play, users will need to be actually located within New Jersey, but are not required to live there. All players may have 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 enables them to launch their Internet gambling enterprises, while a 10th the Trump Plaza is rumored to have partner with Betfair, though which has yet to be confirmed.
One of the confirmed partnerships, the Borgata is understood become using bwin.party, while Caesars Entertainment which owns four Atlantic City properties are partnering with 888 Holdings. Meanwhile, Resorts Casino Hotel has announced a partnership with PokerStars, whilst the Taj Mahal will use Ultimate Gaming, which already has experience now running the first online poker web site hitting 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 working together with Bally Technologies.
The internet 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. However in the previous few years, a number of new casino properties in Pennsylvania, ny, Maryland and other regionally competitive places have chipped away at that income, which stood just 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 this new Jersey shore in belated 2012. That has led to a loss in jobs and taxation revenue for the state.
Perhaps Not everyone is convinced that online 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 industry officials that are most believe the web impact will be positive, providing necessary revenue for the floundering casinos there.
New Jersey’s Internet gambling legislation had been passed by both houses and signed 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 muster that is constitutional. Nevertheless the new version for the law was approved after Christie first issued a conditional veto, 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 a way to debate its merits again in ten years.