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

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 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 who pled guilty month that is just last knowingly accepting unlawful wagers.

Denial through the Top

Parent company Cantor Fitzgerald was fast to deny the rumor, however, saying in a 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 unlawful bookmaking is false and baseless.’

Of course, Anthony Weiner also vehemently denied he was still sexting, therefore there you go in terms of denials of rumors.

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

It might 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 activities 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 space, and offers mobile betting apps, along with the new Atlantis guide, 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 his guilty plea to a single felony cost of conspiracy in A new york federal courthouse (bet we can guess which one). In accordance with court documents, he can receive sentencing Dec. 9, joining so numerous others who will likely be having a fun vacation in the joint from the wonderful world of video gaming.

Colbert had been found in a joint arrest 2 yrs ago, along side 24 others, whenever he had been caught red-handed for their involvement with an illegal recreations betting band in Queens, NY. He originally was looking at eights counts of conspiracy, corruption and money laundering, but the Queens case ended up being dismissed as well as 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 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 World Trade Center, where the company destroyed about 2/3rds of their workers. Amaitis was at London during the right time, heading up business’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 off back East with the original property that has now end up being the much-sought-after Atlantic Club in New Jersey’s video gaming mecca appears to be placing a lot of energy into reclaiming his stakes for the reason that part of the planet. While video gaming mogul Steve Wynn waits to see which means the wind will blow in Massachusetts for approval of his proposed Everett, Massachusetts project, he can also be waiting to obtain word on another new resort casino destined for the Philadelphia, Pennsylvania area.

No Decisions Till Next Spring

Wynn will need to wait until early Spring 2014, through the looks of it, nevertheless; that’s when chairman of this Pennsylvania Gaming Control Board William H. Ryan, Jr. claims the chosen project for Philly’s coveted casino that is second should be determined. With six applicants waiting eagerly in the wings, there will be a general public hearing held in January to simply help determine what type is the best fit, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in Las Vegas.

‘The hearings will give applicants a chance to present to the board and make their case for why they should be awarded the permit,’ Lerner stated in a released research note. ‘It is possible bidders that are losing charm the board’s decision to their state Supreme Court, which could take approximately half a year.’

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 wheresthegold.org 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, 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 were in the running right back in 2010 by having a $600 million project, but pulled out before a decision was made at that point.

The proposed Philly casino therefore the possible $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 really blockbuster growth, now it appears to have leveled off,’ Schwartz said. ‘Remember, it went from zero to $3 billion. It could be because it’s really a $3 billion industry.’

But Schwartz adds that the situation is definately not hopeless, noting similar 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 Establish Plan Officially Announced

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

It has been a wait that is long but as anticipated, nj-new jersey’s venture into the realm of Web gambling will begin on November 26, permitting state residents to begin with 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. When this occurs, merely a limited number of invited guests will be able to play on the sites. Assuming that all goes well with the websites in 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 are going to be easy. In order to play, users will have to be physically located within brand New Jersey, but are not essential to reside there. All players need to be at the least 21 years of age.

Thus far, nine of the 12 casinos in Atlantic City have announced partnerships with software providers that will allow them to launch their Web casinos, 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, while 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 2nd site there). Meanwhile, the Tropicana Casino and Resort will mate with Gamesys Limited. Finally, the Golden Nugget has announced that it shall be dealing with Bally Technologies.

Dropping Profits for AC Land Casinos

The internet gambling launch will come being a welcome possibility 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. However in the last few years, a number of brand new casino properties in Pennsylvania, ny, Maryland and other regionally competitive places have chipped away at that income, which endured 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 heavy damage to this new Jersey shore in late 2012. That has resulted in a loss of jobs and taxation 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 most industry officials believe the net impact is positive, providing necessary revenue for the floundering casinos there.

New Jersey’s Internet gambling legislation 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 12 months before, citing concerns that the bill might not pass muster that is constitutional. But the new version for the law was approved after Christie first issued a conditional veto, which permitted legislators to help make some small 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.

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