Cantor Gaming CEO Under Possible Investigation by Feds

CEO Lee Amaitis (center) recently started 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 energy 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 layer tail of colleague Michael Colbert Cantor’s now released vice president of danger management whom pled guilty just last month to knowingly accepting unlawful bets.

Denial from the Top

Parent company Cantor Fitzgerald was quick 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 false and baseless.’

Of course, Anthony Weiner additionally vehemently denied he was still sexting, so there you go when it comes 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 could certainly 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 within the Bahamas. The company now has eight sports publications in Las Vegas, runs the Palms Casino poker space, and offers mobile betting apps, combined with new Atlantis guide, which can 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 vice-president that is former has entered their guilty plea to a solitary felony fee of conspiracy in A new york federal courthouse (bet we can guess what type). Based on court papers, he’ll receive sentencing Dec. 9, joining so numerous others who is having a great visit to the joint from the wonderful https://casino-bonus-free-money.com/lucky-nugget-casino/ world of gaming.

Colbert was acquired in a joint arrest couple of years ago, along side 24 others, whenever he was caught red-handed for his involvement with an illegal activities betting ring in Queens, NY. He originally was searching at eights counts of conspiracy, money and corruption laundering, but the Queens case was 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 performing like a bird so he can fly totally free in December? Time will tell.

To their credit Amaitis did reportedly aid within the rebuilding of parent company Cantor Fitzgerald after the September attacks that are 11th the entire world Trade Center, when the company destroyed about 2/3rds of their workers. Amaitis was at London at the time, heading up the business enterprise’s international dealings.

Wynn Eyes Philadelphia for Next Casino Resort Project

Wynn Resorts is one of six casino companies pitching to enter the Philadelphia gaming market

The casino legend who started out back East with the original home that has get to be the much-sought-after Atlantic Club in New Jersey’s gaming mecca appears to be placing a lot of energy into reclaiming his stakes for the reason 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 have to wait until early Spring 2014, through the looks from it, nonetheless; that’s when chairman of this Pennsylvania Gaming Control Board William H. Ryan, Jr. states the selected project for Philly’s coveted second casino license should be determined. With six candidates waiting eagerly in the wings, you will have a public hearing held in January to greatly help determine what type would be the fit that is best, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in Las Vegas.

‘The hearings gives applicants a possiblity to present to the board and make their case for why they should be awarded the license,’ Lerner stated in a research note that is released. ‘It is possible bidders that are losing allure the board’s decision to the state Supreme Court, which could take roughly six months.’

Wynn’s project is naturally planned out in-depth currently, 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 City 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 offered 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 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 and the feasible $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 would likely now be tougher for Wynn to crack in 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 significantly leveled away in growth (a pattern that is being seen across the U.S. into the land gaming markets these days) in the past few years.

‘After six years of actually blockbuster growth, 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 far from hopeless, noting exactly the same dire predictions were connected to the Las Vegas market a few times, in 1989, 1993, and again in 1998. He says a new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.

Nj-new Jersey Online Gambling Establish Plan Formally Announced

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

It has been a long wait, but as expected, New Jersey’s venture into the realm of Web gambling will start on November 26, enabling 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 21 november. At that time, only a number that is limited of guests will be able to play in the sites. Assuming that all goes well with the sites for the reason that period, then full range, a real income online gambling will begin at 9 a.m. local time on the 26th.

The rules for playing on nj-new jersey’s gambling sites is simple. In order to relax and play, users will need to be physically located within brand New Jersey, but are not required to live there. All players need to be at the very least 21 years of age.

Thus far, nine of the 12 casinos in Atlantic City have announced partnerships with computer software providers that will allow 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.

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 Hotel has announced a partnership with PokerStars, even though the Taj Mahal will make use of Ultimate Gaming, which already has experience now running the first online poker web site to hit 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 dealing with Bally Technologies.

Dropping Profits for AC Land Casinos

The internet gambling launch will come as 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 brand new casino properties in Pennsylvania, New York, Maryland and other regionally competitive places have actually chipped away at that revenue, which stood at only over $3 billion last year and could fall below that mark in 2013. This autumn became even more precipitous after Hurricane Sandy caused damage that is heavy the brand new Jersey shore in late 2012. That has generated a loss of jobs and income tax revenue for hawaii.

Not everyone is convinced that on the web gambling shall make much of an effect. Some are involved that it might just shift players who ordinarily came to gamble in the casino to online video gaming, which could also be harmful, while they will never be buying rooms in hotels and food or shopping at the casino resorts. But industry officials that are most believe the net impact is good, providing essential income for the floundering casinos there.

New Jersey’s Internet gambling legislation was passed 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 issues that the bill might not pass muster that is constitutional. Nevertheless the new version for 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 to ensure legislators would have a way to debate its merits again in ten years.

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