Cantor Gaming CEO Under Possible Investigation by Feds

Cantor Gaming CEO Under Possible Investigation by Feds

CEO Lee Amaitis (center) recently launched the Cantor Gaming Atlantis sports book; some say he is under federal scrutiny now

Not a day goes by in the gaming universe without someone in a place of power somewhere being scrutinized by the feds anymore, it seems. Now Cantor Gaming CEO Lee Amaitis is under the limelight, according to the The Wall Street Journal, on the coat tail of colleague Michael Colbert Cantor’s now released vice president of risk management who pled guilty just last month to knowingly accepting unlawful bets.

Denial through the Top

Parent business Cantor Fitzgerald was fast to deny the rumor, however, saying in an 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 additionally vehemently denied he was still sexting, therefore there you go in terms of denials of rumors.

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

It could definitely 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 recreations books at the Atlantis Casino on Paradise Island into the Bahamas. The company now has eight sports publications in Las Vegas, runs the Palms Casino poker room, and offers mobile betting apps, combined with Atlantis that is new book that will 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 recently entered their guilty plea to a solitary felony cost of conspiracy in a ny federal courthouse (bet we can guess which one). According to court papers, he will receive sentencing Dec. 9, joining so many more who will likely be having a great visit to the joint from the world that is wonderful of.

Colbert was acquired in a joint arrest 2 yrs ago, along with 24 others, when he had been caught red-handed for his participation with an illegal recreations betting band in Queens, NY. He originally was searching at eights counts of conspiracy, money and corruption laundering, but the Queens case ended up being dismissed therefore the matter of his moving $100K in gambling profits from vegas to New York was forwarded to the U.S. Attorney’s docket.

Although 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 totally 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 World Trade Center, where the company destroyed about 2/3rds of their workers. Amaitis was at London at the right time, heading up the company’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 become the much-sought-after Atlantic Club in nj’s video gaming mecca is apparently putting a lot of energy into reclaiming his stakes for the reason that component of the world. While video gaming mogul Steve Wynn waits to see which method the wind will blow in Massachusetts for approval of his proposed Everett, Massachusetts project, he can also be 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 hold back until early Spring 2014, from the looks from it, however; that’s when chairman associated with Pennsylvania Gaming Control Board William H. Ryan, Jr. claims the selected project for Philly’s coveted second casino permit should be determined. With six applicants waiting eagerly in the wings, there will be a public hearing held in January to simply help decide what type is the fit that is best, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in Las Vegas.

‘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 released research note. ‘It is possible bidders that are losing allure the board’s decision to hawaii 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 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, next 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 running back in 2010 with a $600 million project, but pulled out before a decision had been made at the period.

The proposed Philly casino and the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they may 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 actually 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 really a $3 billion industry.’

But Schwartz adds that the problem is definately not hopeless, noting equivalent 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.

New Jersey Online Gambling Launch Plan Formally Announced

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

It has been a wait that is long but as anticipated, New Jersey’s venture into the world of Web gambling will start 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 have the ability to commence a ‘soft play’ launch on 21 november. When this occurs, only a number that is limited of guests will be able to play in the sites. Assuming that all goes well with the websites for the reason that period, then complete scope, real money online gambling will begin at 9 a.m. local time on the 26th.

The rules for playing on New Jersey’s gambling sites is easy. In order to relax and play, users will physically have to be located within brand New Jersey, but are not essential to live there. All players may have to be at the least 21 years of age.

So far, nine of the 12 casinos in Atlantic City have announced partnerships with software providers that allows them to launch their online casinos, 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 dealing 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, although the Taj Mahal will utilize Ultimate Gaming, which already has experience now running the first on-line poker site hitting 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 shall be dealing with Bally Technologies.

Dropping Revenues for AC Land Casinos

The web gambling launch will come as a welcome opportunity 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 couple of years, lots of brand new casino properties in Pennsylvania, New York, Maryland and other regionally competitive locations have actually chipped away at that income, which stood at 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 https://casino-online-australia.net/indian-dreaming-slot-review/ heavy harm to this new Jersey coast in late 2012. That has led to a loss in jobs and tax revenue for their state.

Perhaps Not everyone is convinced that online gambling shall make much of an effect. 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 most industry officials think the net effect is going to be good, 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 comparable law the year before, citing issues that the bill might not pass constitutional muster. But the new version associated with the law was approved after Christie first issued a veto that is conditional which permitted legislators to make some minor changes to the bill, including requiring it to expire in a decade making sure that legislators would have an opportunity to debate its merits again in ten years.

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