CEO Lee Amaitis (center) recently launched 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 layer tail of colleague Michael Colbert Cantor’s now released vice president of risk management whom pled guilty simply last month to knowingly accepting illegal bets.
Denial through 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 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 whom destination 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 the new Cantor Gaming race and sports books at the Atlantis Casino on Paradise Island in the Bahamas. The company now has eight sports publications in Las Vegas, operates the Palms Casino poker room, and offers mobile betting apps, combined with Atlantis that is new book which will 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 his guilty plea to a solitary felony charge of conspiracy in a ny federal courthouse (bet we can guess which one). According to court papers, he’ll get sentencing Dec. 9, joining so many more who is going to be having a great vacation in the joint from the world that is wonderful of.
Colbert was found in a joint arrest couple of years ago, along side 24 others, whenever he was caught red-handed for his involvement with an illegal recreations 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 and the matter of his moving $100K in gambling profits from Las 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 his credit Amaitis did reportedly aid within the rebuilding of parent business Cantor Fitzgerald after the September 11th attacks on the planet Trade Center, where the company lost about 2/3rds of their workers. Amaitis was at London at the right time, heading up the 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 began back East with the property that is original has become the much-sought-after Atlantic Club in New Jersey’s gaming mecca seems to be putting a lot of energy into reclaiming their stakes for the reason that component of the planet. While 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 be waiting getting 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, nevertheless; that’s when chairman of the 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 candidates waiting eagerly in the wings, you will see a public hearing held in January to help decide what type would be the best fit, noted Bill Lerner, who 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 situation for why they should be awarded the permit,’ Lerner stated in a released research note. ‘It is possible bidders that are losing allure the board’s choice to the state Supreme Court, which could take approximately six months.’
Wynn’s project is naturally planned out in-depth already, 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 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 60-acre waterfront property.
This will be Wynn Resorts second go at a Philly property; they were into the operating back in 2010 by having a $600 million project, but pulled out before a decision was made at the period.
The proposed Philly casino while the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they will also be taking care of 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 to the Pennsylvania market; industry expert David Schwartz who heads up the Gaming Research Center at Las vegas, nevada’ University of Nevada (UNLV), says that region has notably leveled out in growth (a pattern that is being seen across the U.S. into the land gaming areas these days) within the past few years.
‘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 may be because it is a $3 billion industry.’
But Schwartz adds that the situation is far from hopeless, noting the exact same predictions that are dire attached to the Las Vegas market several times, in 1989, 1993, and again in 1998. He claims a brand new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.
Nj-new Jersey Online Gambling Establish Plan Formally Announced
Coming to nj-new Jersey, just in time for Thanksgiving: Internet gambling enterprises
It has been a wait that is long but as expected, New Jersey’s venture into the realm of Web gambling will begin on November 26, allowing 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. At that time, just a number that is limited of guests will be able to play on the sites. Assuming that all goes well with the sites for the reason that period, then complete range, real money online gambling will begin at 9 the crazy vegas slots a.m. local time on the 26th.
The guidelines for playing on nj-new jersey’s gambling sites are simple. In order to play, users will physically have to be located within brand New Jersey, but are not essential to live there. All players will have become at least 21 years of age.
So far, nine of the 12 casinos in Atlantic City have announced partnerships with software providers that will allow them to launch their online gambling enterprises, while a 10th the Trump Plaza is rumored to have partner with Betfair, though that has yet to be confirmed.
Among the list of confirmed partnerships, the Borgata is understood to be dealing with bwin.party, while Caesars Entertainment which owns four Atlantic City properties will likely be partnering with 888 Holdings. Meanwhile, Resorts Casino resort 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 internet poker web site to hit in Nevada (Caesars Interactive has launched a 2nd site there). Meanwhile, the Tropicana Casino and Resort will mate with Gamesys Limited. Finally, the Golden Nugget has announced that it will be working together with Bally Technologies.
Dropping Profits for AC Land Casinos
The internet gambling launch will come as 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. But in the last few years, a number of new casino properties in Pennsylvania, New York, Maryland and other regionally competitive places have actually chipped away at that income, which stood just over $3 billion last 12 months and could fall below that mark in 2013. This fall became all the more precipitous after Hurricane Sandy caused damage that is heavy the brand new Jersey shore in late 2012. That has led to a lack of jobs and income tax revenue for hawaii.
Maybe Not everyone is convinced that on the web gambling will make much of an effect. 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 web impact are going to be good, providing essential revenue for the floundering casinos there.
New Jersey’s Internet gambling law ended up being 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 concerns that the bill might not pass muster that is constitutional. However the new version associated with law was approved after Christie first issued a conditional veto, which allowed legislators to produce some small changes to the bill, including requiring it to expire in a decade to ensure that legislators would have an opportunity to debate its merits again in ten years.