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 danger management whom pled guilty month that is just last knowingly accepting unlawful 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 which he participated in illegal bookmaking is false and baseless.’
Of program, Anthony Weiner additionally vehemently denied he was still sexting, so there you go with regards to denials of rumors.
Accepting wagers from ‘runners’ people whom place bets for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It could 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 activities books at the Atlantis Casino on Paradise Island into the Bahamas. The company now has eight sports books in Las Vegas, operates the Palms Casino poker room, and provides mobile betting apps, combined with the Atlantis that is new book which can 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 already entered his guilty plea up to a single felony charge of conspiracy in A new york federal courthouse (bet we can guess which one). Based on court documents, he’ll get sentencing Dec. 9, joining so many others who are having a great vacation in the joint from the wonderful world of video gaming.
Colbert was picked up in a joint arrest two years ago, along side 24 others, when he was caught red-handed for his participation with an illegal sports betting band in Queens, NY. He originally was searching at eights counts of conspiracy, corruption and cash laundering, but the Queens case was dismissed while the matter of his moving $100K in gambling profits from Las vegas, 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 singing 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 business Cantor Fitzgerald after the September 11th attacks on the planet Trade Center, where the company lost about 2/3rds of their employees. Amaitis was at London during the time, heading up the company’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 nj-new jersey’s video gaming mecca seems to be putting a lot of energy into reclaiming their stakes in that part of the planet. 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 need to hold back until early Spring 2014, from the looks of it, but; that’s when chairman associated with Pennsylvania Gaming Control Board William H. Ryan, Jr. says 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 greatly help decide which one would be the fit that is best, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in nevada.
‘The hearings can give applicants a possiblity to show the board and make their case for why they should be granted the permit,’ Lerner stated in a research note that is released. ‘It is possible bidders that are losing attract the board’s choice to hawaii Supreme Court, which could take roughly 6 months.’
Wynn’s project is naturally planned out in-depth already, with Wynn Resorts teaming up with a bevy of partners to build this Philadelphia that is second resort ( 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 operating straight back in 2010 with a $600 million task, but pulled out before a decision had been made at that point.
The proposed Philly casino and the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they will also be working on 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 could be because it is a $3 billion industry.’
But Schwartz adds that the specific situation is not even close to hopeless, noting the exact same predictions that are dire 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 Online Gambling Publish Plan Formally Announced
Coming to New Jersey, just in time for Thanksgiving: Internet gambling enterprises
It’s been a long wait, but as expected, nj’s venture into the world of Web gambling begins on November 26, enabling 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 be able to commence a ‘soft play’ launch on November 21. At that point, just a limited quantity of invited guests will be able to play in the sites. Assuming that all goes well with the websites 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 rules for playing on New Jersey’s gambling sites will likely be easy. In order to relax and play, users will physically have to be located within New Jersey, but are not necessary to live there. All players may have become at the least 21 years of age.
Up to now, nine of the 12 casinos in Atlantic City have announced partnerships with pc software providers that enables them to launch their online casinos, while a 10th the Trump Plaza is rumored to have partner with Betfair, though which has yet to be confirmed.
Among the confirmed partnerships, the Borgata is understood become dealing with bwin.party, while Caesars Entertainment which owns four Atlantic City properties will likely be partnering with 888 Holdings. Meanwhile, Resorts Casino Hotel has announced a partnership with PokerStars, although 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 second site there). Meanwhile, the Tropicana Casino and Resort will partner with Gamesys Limited. Finally, the Golden Nugget has announced that it shall be working together with Bally Technologies.
Dropping Revenues for AC Land Casinos
The online 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. However in the last few years, a number of brand new casino properties in Pennsylvania, nyc, Maryland and other regionally competitive locations have actually chipped away at that income, which stood just over $3 billion year that is last could fall below that mark in 2013. This fall became even more precipitous after Hurricane Sandy caused damage that is heavy the New Jersey shore in late 2012. That has resulted in a lack of jobs and taxation revenue for the state.
Not everyone is convinced that online gambling shall make much of an impact. 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 internet impact are positive, providing much needed revenue for the floundering casinos there.
New Jersey’s Internet gambling legislation was 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 the lucky nugget saloon afternoon tea. But the new version of this law was approved after Christie first issued a veto that is conditional which permitted legislators in order to make some minor changes to the bill, including requiring it to expire in a decade to ensure legislators would have an opportunity to debate its merits again in ten years.
