Cantor Gaming CEO Under Possible Investigation by Feds

Cantor Gaming CEO Under Possible Investigation by Feds

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

Denial from the Top

Parent business Cantor Fitzgerald was fast 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 unlawful bookmaking is baseless and false.’

Of program, Anthony Weiner additionally vehemently denied he was still sexting, so there you go regarding denials of rumors.

Accepting wagers from ‘runners’ people whom destination 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 within the Bahamas. The company now has eight sports books in Las Vegas, runs the Palms Casino poker room, and offers mobile betting apps, along with the new Atlantis book, which is 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 their guilty plea to a solitary felony charge of conspiracy in A new york federal courthouse (bet we can guess which one). Based on court documents, he can receive sentencing Dec. 9, joining so many more who will likely be 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 side 24 others, when he was caught red-handed for his involvement with an illegal activities betting ring in Queens, NY. He originally was looking at eights counts of conspiracy, money and corruption laundering, but the Queens case ended up being dismissed therefore 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 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 his credit Amaitis did reportedly aid into the rebuilding of parent company Cantor Fitzgerald after the September 11th attacks on the World 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 whom began back East with the property that is original has become the much-sought-after Atlantic Club in nj’s video gaming mecca is apparently putting a lot of energy into reclaiming his stakes in that component 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 from it, however; that is when chairman of this Pennsylvania Gaming Control Board William H. Ryan, Jr. claims the selected project for Philly’s coveted casino that is second should be determined. With six applicants waiting eagerly in the wings, there will be a general public hearing held in January to help decide what type would be the fit that is best, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in vegas.

‘The hearings gives applicants a possiblity to present to the board and make their situation for why they should be awarded the license,’ Lerner stated in a research note that is released. ‘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 already, 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 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 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 60-acre waterfront property.

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

The proposed Philly casino as well as the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they will also be focusing on a $4 billion casino for Macau’s Cotai Strip.

Is Pennsylvania Market Leveling Out?

Since 2010, it would likely now be tougher for Wynn to crack to the Pennsylvania market; industry expert David Schwartz who heads up the Gaming Research Center at vegas’ University of Nevada (UNLV), says that region has notably leveled out in growth (a pattern that is being seen across the U.S. in the land video gaming areas these days) within the past several years.

‘After six years of actually blockbuster development, now it generally seems to have leveled off,’ Schwartz said. ‘Remember, it went from zero to $3 billion. It may be because it’s really a $3 billion industry.’

But Schwartz adds that the problem is far from hopeless, noting equivalent dire predictions were connected to the Las Vegas market a few times, in 1989, 1993, and again in 1998. He states a new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.

New Jersey Online Gambling Publish Plan Officially Announced

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

It has been a wait that is long but as anticipated, nj’s endeavor into the realm of Internet gambling begins on November 26, allowing state residents to start 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 a way to commence a ‘soft play’ launch on November 21. When this occurs, only a limited wide range of invited guests should be able to play in 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’s gambling sites will likely be easy. In order to play, users will physically have to be located within New Jersey, but are not required to live there. All players need 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 enables them to launch their Web casinos, while a 10th the Trump Plaza is rumored to have partner with Betfair, though who 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 https://casino-online-australia.net/indian-dreaming-slot-review/, whilst the Taj Mahal will make use of Ultimate Gaming, which already has experience now running the first online poker site hitting in Nevada (Caesars Interactive has now 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 using Bally Technologies.

Dropping Revenues for AC Land Casinos

The web gambling launch will come 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, ny, Maryland and other regionally competitive areas have chipped away at that income, which endured 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 latest Jersey coast in belated 2012. That has led to a loss in jobs and income tax revenue for their state.

Perhaps Not everyone is convinced that on line gambling shall make much of an effect. 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 web effect is going to be good, providing much needed income for the floundering casinos there.

New Jersey’s Internet gambling legislation had been 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 12 months before, citing issues that the bill might not pass constitutional muster. Nevertheless the new version for the law was approved after Christie first issued a conditional veto, which permitted legislators to make some small changes to the bill, including requiring it to expire in a decade to ensure that legislators would have an opportunity to debate its merits again in ten years.

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