Cantor Gaming CEO Under Possible Investigation by Feds

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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 spotlight, according to the The Wall Street Journal, on the coating 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 from the Top

Parent company Cantor Fitzgerald was quick to deny the rumor, however, saying within an issued statement: ‘We feel compelled to address this reckless and rumor that is baseless. 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 when it comes to denials of rumors.

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

It might truly 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 books in Las Vegas, runs the Palms Casino poker room, and offers mobile betting apps, combined with the new Atlantis book, that is their first run outside of Nevada.

No Allegations Officially Made

Cantor Fitzgerald had been quick to point out 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 charge of conspiracy in a ny federal courthouse (bet we can guess which one). Based on documents, he can get sentencing Dec. 9, joining so numerous others who is going to be having an enjoyable vacation in the joint from the wonderful world of video gaming.

Colbert had been picked up in a joint arrest two years ago, along side 24 others, when he had been caught red-handed for his involvement with an illegal sports betting ring in Queens, NY. He originally was looking at eights counts of conspiracy, money and corruption laundering, but the Queens case had been dismissed while the matter of his moving $100K in gambling profits from nevada 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 performing like a bird so he can fly 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 World Trade Center, when the company lost about 2/3rds of their workers. Amaitis was at London during the right time, heading up the business enterprise’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 began back East with the property that is original has get to be the much-sought-after Atlantic Club in New Jersey’s gaming mecca is apparently placing a lot of energy into reclaiming his stakes in that part of the world. 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 hold back until early Spring 2014, from the looks from it, but; that is when chairman regarding the Pennsylvania Gaming Control Board William H. Ryan, Jr. states 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 public hearing held in January to greatly help determine which one would be the fit that is best, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in vegas.

‘The hearings gives applicants a possiblity to give the board and make their situation for why they should be granted the license,’ Lerner stated in a research note that is released. ‘It is possible losing bidders could charm the board’s choice 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 was 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 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 had been into the running back in 2010 by having a $600 million project, but pulled out before a decision was made at the period.

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

Is Pennsylvania Market Leveling Out?

Since 2010, it might now be tougher for Wynn to crack into the Pennsylvania market; industry expert David Schwartz who heads up the Gaming Research Center at vegas’ University of Nevada (UNLV), says that region has notably leveled away in growth (a pattern that is being seen across the U.S. into the land gaming markets today) within the past few years.

‘After six years of really 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’s really a $3 billion industry.’

But Schwartz adds that the problem is definately not hopeless, noting the exact same predictions that are dire attached to the Las Vegas market a few times, in 1989, 1993, and again in 1998. He states a brand new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.

Nj-new Jersey Online Gambling Publish Plan Formally Announced

Coming to nj-new Jersey, just in time for Thanksgiving: Internet gambling enterprises

This has been a long wait, but as expected, nj-new jersey’s endeavor into the world of Internet gambling begins on November 26, enabling state residents to start 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 be able to begin a ‘soft play’ launch on 21 november. When this occurs, just a limited wide range of invited guests will be able to play on the sites. Presuming that all goes well with the websites in that period, then complete scope, a real income online gambling will begin at 9 a.m. local time on the 26th.

The principles for playing on nj’s gambling sites will 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 need to be at 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 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 Hotel has announced a partnership with PokerStars, even though the Taj Mahal will utilize Ultimate Gaming, which already has experience now running the online that is first site to hit in Nevada (Caesars Interactive has now launched a 2nd 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 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 a high that is all-time of5.2 billion. However in the previous couple of years, a number of new casino properties in Pennsylvania, nyc, Maryland and other regionally competitive locations have actually chipped away at that revenue, which endured just over $3 billion year that https://playpokiesfree.com/indian-dreaming-slot/ is last could fall below that mark in 2013. This fall became even more precipitous after Hurricane Sandy caused damage that is heavy the brand new Jersey coast in late 2012. That has generated a lack of jobs and income tax revenue for hawaii.

Maybe Not everyone is convinced that online 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 industry officials that are most think the web impact will be 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 comparable law the year before, citing concerns that the bill might not pass constitutional muster. However the new version associated with law was approved after Christie first issued a conditional veto, which permitted legislators to make some minor changes to the bill, including requiring it to expire in a decade so that legislators would have an opportunity to debate its merits again in ten years.