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

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 coating tail of colleague Michael Colbert Cantor’s now released vice president of risk management who pled guilty simply last month to knowingly accepting unlawful wagers.

Denial through the Top

Parent business Cantor Fitzgerald was quick to deny the rumor, however, saying within an issued statement: ‘We feel compelled to address this reckless 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 additionally vehemently denied he was still sexting, therefore there you go regarding denials of rumors.

Accepting wagers from ‘runners’ people whom spot wagers for an operation is illegal in Nevada, where Cantor Gaming is headquartered.

It would truly 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 battle and sports books at the Atlantis Casino on Paradise Island in the Bahamas. The company now has eight sports publications in Las Vegas, runs the Palms Casino poker space, 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 was 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 already entered his guilty plea up to a single felony cost of conspiracy in a ny federal courthouse (bet we can guess what type). According to documents, he’ll receive sentencing Dec. 9, joining so many more who will likely be having a fun vacation in the joint from the world that is wonderful of.

Colbert was picked up in a joint arrest two years ago, along side 24 others, whenever he had been caught red-handed for an illegal sports to his involvement betting ring in Queens, NY. He originally was searching at eights counts of conspiracy, corruption and cash 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 performing like a bird so he can fly free in December? Time will tell.

To their credit Amaitis did reportedly aid into the rebuilding of parent company Cantor Fitzgerald after the September 11th attacks on the planet Trade Center, when the company destroyed about 2/3rds of their employees. 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 out back East with the property that is original has get to be the much-sought-after Atlantic Club in New Jersey’s gaming mecca is apparently placing a lot of energy into reclaiming their stakes in that part of the world. 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 have to wait until early Spring 2014, through the looks of it, however; that is when chairman of the Pennsylvania Gaming Control Board William H. Ryan, Jr. states 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 general public hearing held in January to help determine what type would be the best fit, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in nevada.

‘The hearings will give applicants an opportunity to show the board and make their instance for why they should be granted the license,’ Lerner stated in a research note that is released. ‘It is possible bidders that are losing charm the board’s decision to the state Supreme Court, which could take roughly six 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 casino-online-australia.net/ 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 waterfront property that is 60-acre.

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

The proposed Philly casino plus the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they may 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 actually blockbuster growth, now it generally 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 specific 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 claims a brand new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.

Nj Online Gambling Establish Plan Officially Announced

Coming to nj-new Jersey, just in time for Thanksgiving: Internet casinos

This has been a wait that is long but as anticipated, nj-new jersey’s venture into the realm of Web gambling will begin on November 26, enabling 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 start a ‘soft play’ launch on 21 november. At that time, just a limited amount of invited guests should be able to play on the sites. Presuming that all goes well with the sites in that period, then full scope, a real income online gambling will begin at 9 a.m. local time on the 26th.

The guidelines for playing on nj-new jersey’s gambling sites are easy. In order to relax and play, users will need to be physically located within brand New Jersey, but are not required to live there. All players need become at the very least 21 years of age.

So far, nine of the 12 casinos in Atlantic City have announced partnerships with pc software providers that will allow them to launch their online casinos, while a 10th the Trump Plaza is rumored to have partner with Betfair, though that 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 online that is first site to hit 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 working together with Bally Technologies.

Dropping Profits for AC Land Casinos

The internet 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 an all-time high of $5.2 billion. However in the previous few years, lots of brand new casino properties in Pennsylvania, New York, Maryland and other regionally competitive locations have chipped away at that revenue, which endured at only 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 this new Jersey coast in belated 2012. That has led to a lack of jobs and taxation revenue for hawaii.

Maybe Not everyone is convinced that on line gambling shall make much of an impact. Some are concerned that it might just shift players whom normally arrived to gamble in the casino to online gaming, which could even be harmful, as they will not be buying hotel rooms and food or shopping at the casino resorts. But most industry officials think the net impact will be good, providing essential income for the floundering casinos there.

New Jersey’s Internet gambling legislation 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 concerns that the bill might not pass muster that is constitutional. Nevertheless the new version of the law was approved after Christie first issued a conditional veto, which permitted legislators in order to make some minor changes to the bill, including requiring it to expire in a decade so that legislators would have an opportunity to debate its merits again in ten years.