
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 coat tail of colleague Michael Colbert Cantor’s now released vice president of risk management who pled guilty just last month to knowingly accepting unlawful wagers.
Denial from the Top
Parent company Cantor Fitzgerald was fast to deny the rumor, however, saying within an issued statement: ‘We feel compelled to address this irresponsible and rumor that is baseless. The notion that Lee Amaitis is a target of federal prosecutors or which he participated in unlawful bookmaking is false and baseless.’
Of course, Anthony Weiner also vehemently denied he was still sexting, therefore there you go regarding denials of rumors.
Accepting wagers from ‘runners’ people who place wagers for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It might 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 competition and activities books at the Atlantis Casino on Paradise Island within the Bahamas. The company now has eight sports books in Las Vegas, operates the Palms Casino poker space, and offers mobile betting apps, combined with the new Atlantis book, which will be their first run outside of Nevada.
No Allegations Officially Made
Cantor Fitzgerald ended up being 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). In accordance with court documents, he’ll receive sentencing Dec. 9, joining so many more who will likely be having a fun holiday in the joint from the wonderful world of gaming.
Colbert was acquired in a joint arrest 2 yrs ago, along with 24 others, whenever he was caught red-handed for his participation with an illegal recreations betting band in Queens, NY. He originally was looking at eights counts of conspiracy, money and corruption laundering, but the Queens case was 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.
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 free in December? Time will tell.
To their credit Amaitis did apparently aid within the rebuilding of parent business Cantor Fitzgerald after the September 11th attacks on the planet Trade Center, in which the company lost about 2/3rds of their workers. Amaitis was at London at the 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 home that has end up being the much-sought-after Atlantic Club in New Jersey’s video gaming mecca seems to be placing a lot of energy into reclaiming his stakes in that part of the entire world. While video gaming mogul Steve Wynn waits to see which method the wind will blow in Massachusetts for approval of their proposed Everett, Massachusetts project, he can 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, from the looks of it, nevertheless; that’s when chairman of 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 decide what type would be the best fit, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in Las vegas, nevada.
‘The hearings gives applicants a chance 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 charm the board’s choice to their state Supreme Court, which could take approximately 6 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 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 into the running straight back in 2010 having a $600 million task, but pulled out before a decision was made at the period.
The proposed Philly casino and also the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the board that is drawing they are focusing on a $4 billion casino for Macau’s Cotai Strip.
Is Pennsylvania Market Leveling Out?
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 vegas’ University of Nevada (UNLV), says that region has significantly leveled out in growth (a pattern that is being seen across the U.S. within the land gaming areas these days) into the past couple of 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’s a $3 billion industry.’
But Schwartz adds that the situation is not even close to hopeless, noting equivalent dire predictions were connected to the Las Vegas market several times, in 1989, 1993, and again in 1998. He claims A wynn that is new resorts in Philadelphia could very possibly reinvigorate the industry there.
Nj Online Gambling Establish Plan Formally Announced
Coming to nj-new Jersey, just in time for Thanksgiving: Internet casinos
It has been a wait that is long but as anticipated, nj’s venture into the world of online gambling begins on November 26, permitting 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 have the ability to commence a ‘soft play’ launch on 21 november. At that point, merely a limited wide range of invited guests will be able to play on the sites. Presuming that all goes well with web sites for the reason that period, then full scope, a real income online gambling will begin at 9 a.m. local time on the 26th.
The principles for playing on nj-new jersey’s gambling sites are going to be easy. In order to try out, users will have to be actually located within brand New Jersey, but are not necessary to live there. All players may have 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 enables them to launch their Internet gambling enterprises, while a 10th the Trump Plaza is rumored to have partner with Betfair, though which 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, whilst the Taj Mahal will utilize Ultimate Gaming, which already has experience now running the first internet poker site hitting 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 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 a high that is all-time of5.2 billion. But in the previous few years, lots of brand new casino properties in Pennsylvania, ny, Maryland and other regionally competitive places have actually chipped away at that income, which endured at only over $3 billion last 12 months and could fall below that mark in 2013. This fall became even more precipitous after Hurricane Sandy caused heavy damage to the newest Jersey shore in belated 2012. That has resulted in a lack 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 concerned 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 effect are going to be positive, providing essential income for the floundering casinos there.
New Jersey’s Internet gambling legislation had been passed 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 year before, citing concerns that the bill might not pass muster that is constitutional. Nevertheless 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 to make certain that legislators would have a chance to debate its merits again in ten years.