Cantor Gaming CEO Under Possible Investigation by Feds

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

Maybe Not a day goes by in the gaming world without someone in a position of energy someplace being scrutinized by the feds anymore, it appears. Now Cantor Gaming CEO Lee Amaitis is under the limelight, according to the The Wall Street Journal, on the coating tail of colleague Michael Colbert Cantor’s now released vice president of danger management whom pled guilty simply last month to knowingly accepting unlawful bets.

Denial from the Top

Parent company Cantor Fitzgerald was fast to deny the rumor, however, saying in 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 that he participated in illegal bookmaking is false and baseless.’

Of course, Anthony Weiner also vehemently denied he was still sexting, therefore there you go with regards to denials of rumors.

Accepting wagers from ‘runners’ people who place wagers 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 recreations books at the Atlantis Casino on Paradise Island into the Bahamas. The company now has eight sports publications in Las Vegas, runs the Palms Casino poker room, and provides mobile betting apps, combined with the Atlantis that is new 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 to a solitary felony charge of conspiracy in a ny federal courthouse (bet we can guess what type). In accordance with court papers, he’ll get sentencing Dec. 9, joining so many more who are having an enjoyable holiday in the joint from the world that is wonderful of.

Colbert had been picked up in a joint arrest couple of years ago, along with 24 others, when he had been caught red-handed for an illegal sports to his involvement betting band in Queens, NY. He originally was searching at eights counts of conspiracy, money and corruption laundering, but the Queens case had been dismissed plus the matter of his moving $100K in gambling profits from 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 totally free in December? Time will tell.

To his credit Amaitis did reportedly aid in the rebuilding of parent company 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 right time, heading up business’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 become the much-sought-after Atlantic Club in nj’s gaming mecca is apparently putting a lot of energy into reclaiming his stakes in that component of the entire world. While video gaming mogul Steve Wynn waits to see which method the wind will blow in Massachusetts for approval of his proposed Everett, Massachusetts project, he can be waiting getting 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, however; that’s when chairman for the Pennsylvania Gaming Control Board William H. Ryan, Jr. says the selected project for Philly’s coveted casino that is second should be determined. With six candidates waiting eagerly in the wings, you will have a public hearing held in January to help decide what type will be the fit that is best, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in vegas.

‘The hearings will give applicants an opportunity to present to the board and make their instance for why they should be granted the license,’ Lerner stated in a released research note. ‘It is possible bidders that are losing attract the board’s choice to hawaii 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 lovers 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 free slot machine indian dreaming table games, adjacent to a 300-room resort, all developed on a waterfront property that is 60-acre.

This will be Wynn Resorts second go at a Philly property; they had been in the running straight back in 2010 having a $600 million task, but pulled out before a decision ended up being made at that time.

The proposed Philly casino and the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the board that is drawing they may also be working 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 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 down in growth (a pattern that is being seen across the U.S. into the land gaming markets today) in the past few years.

‘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 could be because it’s a $3 billion industry.’

But Schwartz adds that the situation is definately not hopeless, noting similar predictions that are dire attached 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-new Jersey Online Gambling Publish Plan Officially Announced

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

It’s been a long wait, but as anticipated, nj’s venture into the realm of Internet gambling begins 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 the ability to begin a ‘soft play’ launch on November 21. When this occurs, only a number that is limited of guests should be able to play on the sites. Assuming that all goes well with web 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 be simple. In order to play, users will physically have to be located within brand New Jersey, but are not essential to reside there. All players could 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 enables them to launch their online gambling enterprises, while a 10th the Trump Plaza is rumored to have partner with Betfair, though who has yet to be confirmed.

Among the list of 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, as the Taj Mahal will utilize Ultimate Gaming, which already has experience now running the first internet poker 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 dealing with Bally Technologies.

Dropping Profits for AC Land Casinos

The online gambling launch will come being a welcome opportunity 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 previous few years, a number of brand new casino properties in Pennsylvania, New York, Maryland and other regionally competitive places have actually chipped away at that revenue, which endured at only over $3 billion year that is last could fall below that mark in 2013. This autumn became even more precipitous after Hurricane Sandy caused heavy damage to the newest Jersey coast in late 2012. That has resulted in a loss in jobs and taxation revenue for hawaii.

Perhaps Not everyone is convinced that online gambling shall make much of an impact. Some are concerned that it may just shift players whom usually came to gamble in the casino to online gaming, which could even be harmful, while they will never be buying hotel rooms and meals or shopping at the casino resorts. But industry officials that are most believe the net impact is going to be positive, providing necessary income for the floundering casinos there.

New Jersey’s Internet gambling law had been passed away 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 12 months before, citing issues that the bill might not pass muster that is constitutional. Nevertheless the new version of this law was approved after Christie first issued a veto that is conditional which allowed 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.