CEO Lee Amaitis (center) recently started the Cantor Gaming Atlantis sports book; some say he is under federal scrutiny now
Not a day goes by in the gaming universe without someone in a place of power somewhere being scrutinized by the feds anymore, this indicates. 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 illegal wagers.
Denial from the Top
Parent business Cantor Fitzgerald was quick to deny the rumor, however, saying in a 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 baseless and false.’
Of course, Anthony Weiner also vehemently denied he was still sexting, so there you go in terms of denials of rumors.
Accepting wagers from ‘runners’ people who destination wagers for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It would 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 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 book, which will be 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 vice-president that is former has recently entered their guilty plea up to a single felony fee of conspiracy in a ny federal courthouse (bet we can guess what type). Based on documents, he will receive sentencing Dec. 9, joining so many more who is having an enjoyable vacation in the joint from the world that is wonderful of.
Colbert had been acquired in a joint arrest two years ago, along side 24 others, whenever he had been caught red-handed for his involvement with an illegal sports betting band in Queens, NY. He originally was looking at eights counts of conspiracy, money and corruption laundering, but the Queens case ended up being dismissed plus the matter of his moving $100K in gambling profits from 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 performing like a bird so he can fly totally free in December? Time will tell.
To his credit Amaitis did apparently aid into the rebuilding of parent company Cantor Fitzgerald after the September attacks that are 11th the planet Trade Center, in which the company lost about 2/3rds of their workers. Amaitis was in London during the time, heading up the company’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 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 putting a lot of energy into reclaiming his stakes for the reason that component of the planet. 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 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 wait until early Spring 2014, through the looks from it, but; that is when chairman for the Pennsylvania Gaming Control Board William H. Ryan, Jr. states the chosen project for Philly’s coveted second casino permit should be determined. With six applicants waiting eagerly in the wings, you will see a general public hearing held in January to simply help determine what type will be the best fit, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in Las Vegas.
‘The hearings can give applicants a chance 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 attract the board’s decision to the state Supreme Court, which could take approximately 6 months.’
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 has been 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 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 60-acre waterfront property.
This will be Wynn Resorts go at a second Philly property; they had been into the operating straight back in 2010 with a $600 million project, but pulled out before a decision had been made at that point.
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 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 may be because it is a $3 billion industry.’
But Schwartz adds that the problem is definately not hopeless, noting the exact same dire predictions were connected to the Las Vegas market a few times, in 1989, 1993, and again in 1998. He states A wynn that is new resorts 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 casinos
It has been a wait that is long but as anticipated, nj-new jersey’s venture into the world of Web gambling begins on November 26, permitting state residents to begin with 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 November 21. When this occurs, only a limited amount of invited guests will be able to play on the sites. Assuming that all goes well with the sites in 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 nj’s gambling sites will likely be simple. In order to play, users will have to be actually located within brand New Jersey, but are not required to live there. All players has become at the very least 21 years of age.
Up to now, nine of the 12 casinos in Atlantic City have announced partnerships with computer software providers that allows them to launch their online 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, as the Taj Mahal will use Ultimate Gaming, which already has experience now running the online that is first web site going to 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 carte the lucky nugget saloon announced that it shall be working 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. However in the previous couple of years, lots of new casino properties in Pennsylvania, nyc, Maryland and other regionally competitive places have actually chipped away at that revenue, which endured just over $3 billion last 12 months and could fall below that mark in 2013. This autumn became even more precipitous after Hurricane Sandy caused damage that is heavy this new Jersey shore in late 2012. That has resulted in a lack of jobs and taxation revenue for hawaii.
Not everyone is convinced that online gambling will make much of an impact. 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 think the net effect are going to be positive, providing much needed income 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 of the law was approved after Christie first issued a conditional veto, which permitted legislators to produce some minor changes to the bill, including requiring it to expire in a decade to ensure legislators would have a way to debate its merits again in ten years.