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

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 simply last month to knowingly accepting unlawful wagers.

Denial through the Top

Parent company Cantor Fitzgerald was fast 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 which he participated in unlawful bookmaking is baseless and false.’

Of program, Anthony Weiner additionally vehemently denied he was still sexting, so there you go in terms of denials of rumors.

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

It would certainly behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for a brand new Cantor Gaming race and sports books at the Atlantis Casino on Paradise Island within the Bahamas. The company now has eight sports publications in Las Vegas, operates the Palms Casino poker space, and offers mobile betting apps, combined with the new Atlantis guide, that is their first run outside of Nevada.

No Allegations Officially Made

Cantor Fitzgerald was 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 their guilty plea to a solitary felony charge of conspiracy in A new york federal courthouse (bet we can guess which one). Based on court documents, he’ll receive sentencing Dec. 9, joining so many others who will likely be having a fun vacation in the joint from the world that is wonderful of.

Colbert was picked up in a joint arrest two years ago, along with 24 others, when he was 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 was dismissed as well as the matter of his moving $100K in indian dreaming slot machine free play gambling profits from Las vegas, nevada 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 totally free in December? Time will tell.

To his credit Amaitis did apparently aid in the rebuilding of parent business Cantor Fitzgerald after the September attacks that are 11th the World Trade Center, in which the company lost about 2/3rds of their employees. Amaitis was at London at 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 property that is original has get to be the much-sought-after Atlantic Club in nj’s gaming mecca appears to be putting a lot of energy into reclaiming their stakes in that component of the world. While gaming mogul Steve Wynn waits to see which means the wind will blow in Massachusetts for approval of their proposed Everett, Massachusetts project, he can also be waiting to have word on another new resort casino destined for the Philadelphia, Pennsylvania area.

No Decisions Till Next Spring

Wynn will have to hold back until early Spring 2014, through the looks from it, however; that’s when chairman for the Pennsylvania Gaming Control Board William H. Ryan, Jr. claims the chosen 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 determine which one is the best fit, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in nevada.

‘The hearings will give applicants a possiblity to give the board and make their instance for why they should be granted the license,’ Lerner stated in a research note that is released. ‘It is possible losing bidders could appeal the board’s decision to hawaii Supreme Court, which could take roughly six months.’

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 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 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 had been into the running straight back in 2010 by having a $600 million project, but pulled out before a decision had been made at that time.

The proposed Philly casino therefore 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 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 a $3 billion industry.’

But Schwartz adds that the specific situation is not even close to hopeless, noting the same dire predictions were 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 Formally Announced

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

This has been a wait that is long but as expected, nj’s endeavor into the realm of Internet gambling begins on November 26, allowing 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 November 21. At that point, merely a limited number of invited guests should be able to play in the sites. Assuming that all goes well with web 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 principles for playing on New Jersey’s gambling sites will likely be easy. In order to try out, users will physically have to be located within New Jersey, but are not required to live there. All players may have to be at the least 21 years of age.

Up to now, nine of the 12 casinos in Atlantic City have announced partnerships with software providers that allows them to launch their Web gambling enterprises, while a 10th the Trump Plaza is rumored to have partner with Betfair, though which includes yet to be confirmed.

On the list of confirmed partnerships, the Borgata is understood become working with bwin.party, while Caesars Entertainment which owns four Atlantic City properties are going to be partnering with 888 Holdings. 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 online that is first web site going to in Nevada (Caesars Interactive has launched a 2nd site there). Meanwhile, the Tropicana Casino and Resort will partner with Gamesys Limited. Finally, the Golden Nugget has announced that it will be dealing with Bally Technologies.

Dropping Revenues 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 a high that is all-time of5.2 billion. But in the previous couple of years, lots of new casino properties in Pennsylvania, nyc, Maryland and other regionally competitive locations have chipped away at that revenue, which endured at just over $3 billion year that is last could fall below that mark in 2013. This fall became all the more precipitous after Hurricane Sandy caused heavy injury to this new Jersey coast in late 2012. That has resulted in a loss of 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 industry officials that are most believe the web impact are good, providing necessary income 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 12 months before, citing concerns that the bill might not pass constitutional muster. However the new version of the law was approved after Christie first issued a veto that is conditional which permitted legislators to produce some small changes to the bill, including requiring it to expire in a decade to make certain that legislators would have an opportunity to debate its merits again in ten years.


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