Cantor Gaming CEO Under Possible Investigation by Feds

Cantor Gaming CEO Under Possible Investigation by Feds

CEO Lee Amaitis (center) recently exposed the Cantor Gaming Atlantis zeus slot purple monster sports book; some say he is under federal scrutiny now

Maybe Not a day goes by in the gaming universe without someone in a place of power someplace being scrutinized by the feds anymore, it seems. 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 who pled guilty simply last month to knowingly accepting illegal wagers.

Denial through the Top

Parent business Cantor Fitzgerald was quick to deny the rumor, however, saying in an 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 course, Anthony Weiner additionally vehemently denied he was still sexting, therefore there you go regarding denials of rumors.

Accepting wagers from ‘runners’ people whom place bets 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 new Cantor Gaming competition and sports books at the Atlantis Casino on Paradise Island into the Bahamas. The company now has eight sports publications in Las Vegas, operates the Palms Casino poker space, and provides mobile betting apps, combined with the Atlantis that is new book that is 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 entered his guilty plea up to a solitary felony cost of conspiracy in A new york federal courthouse (bet we can guess which one). According to court papers, he’ll receive sentencing Dec. 9, joining so numerous others who are going to be having a great vacation in the joint from the world that is wonderful of.

Colbert was picked up in a joint arrest couple of years ago, along side 24 others, whenever he was caught red-handed for his involvement with an illegal sports betting ring in Queens, NY. He originally was searching at eights counts of conspiracy, corruption and cash laundering, but the Queens case ended up being dismissed plus the matter of his moving $100K in gambling profits from Las Vegas to New York was forwarded to the U.S. Attorney’s docket.

Even though 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 their credit Amaitis did reportedly aid into 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 in London during the right time, heading up the business enterprise’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 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 video gaming mecca seems to be placing a lot of energy into reclaiming their stakes in that component of the world. While video gaming mogul Steve Wynn waits to see which way the wind will blow in Massachusetts for approval of his proposed Everett, Massachusetts project, he normally waiting to obtain word on another brand 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 from it, however; that is when chairman for the Pennsylvania Gaming Control Board William H. Ryan, Jr. claims the chosen project for Philly’s coveted second casino permit should be determined. With six candidates waiting eagerly in the wings, there will be a general public hearing held in January to simply help decide what type is the best fit, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in Las Vegas.

‘The hearings will give applicants a possiblity to show the board and make their instance for why they should be awarded the permit,’ Lerner stated in a released research note. ‘It is possible bidders that are losing impress the board’s choice to the state Supreme Court, which could take approximately 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 second Philadelphia resort casino ( the HSP Gaming’s SugarHouse was 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 60-acre waterfront property.

This will be Wynn Resorts second go at a Philly property; they were into the operating back in 2010 with a $600 million project, but pulled out before a decision was made at that time.

The proposed Philly casino while the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the board that is drawing they are 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 development, now it seems to have leveled off,’ Schwartz said. ‘Remember, it went from zero to $3 billion. It might be because it’s a $3 billion industry.’

But Schwartz adds that the problem is far from hopeless, noting equivalent predictions that are dire connected to the Las Vegas market several 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 nj-new Jersey, just in time for Thanksgiving: Internet casinos

This has been a long wait, but as anticipated, New Jersey’s venture into the world of online gambling will start on November 26, permitting state residents to begin 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 start a ‘soft play’ launch on 21 november. At that point, only a limited quantity of invited guests will be able to play regarding the sites. Presuming that all goes well with web sites 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 nj’s gambling sites is easy. In order to try out, users will need to be physically located within New Jersey, but are not necessary to live there. All players could have become at the very least 21 years of age.

So far, nine of the 12 casinos in Atlantic City have announced partnerships with 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 includes 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 Hotel has announced a partnership with PokerStars, while the Taj Mahal will utilize Ultimate Gaming, which already has experience now running the first on-line poker web site hitting in Nevada (Caesars Interactive has launched a second site there). Meanwhile, the Tropicana Casino and Resort will mate with Gamesys Limited. Finally, the Golden Nugget has announced that it shall be working together with Bally Technologies.

Dropping Profits for AC Land Casinos

The online 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. But in the previous couple of years, a number of brand new casino properties in Pennsylvania, nyc, Maryland and other regionally competitive areas have chipped away at that income, which stood at just over $3 billion last year and could fall below that mark in 2013. This fall became even more precipitous after Hurricane Sandy caused damage that is heavy the newest Jersey shore in belated 2012. That has resulted in a loss of jobs and taxation revenue for their state.

Not everyone is convinced that on line gambling will make much of an impact. Some are worried 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 net impact are good, providing much needed income for the floundering casinos there.

New Jersey’s Internet gambling legislation ended up being passed away by both houses and finalized 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 constitutional muster. However the new version regarding the law was approved after Christie first issued a conditional veto, which allowed legislators in order to make some small changes to the bill, including requiring it to expire in a decade to ensure legislators would have a chance to debate its merits again in ten years.

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