
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 universe without someone in a place of power somewhere being scrutinized by the feds anymore, it appears. Now Cantor Gaming CEO Lee Amaitis is under the spotlight, according to the The Wall Street Journal, on the coat tail of colleague Michael Colbert Cantor’s now released vice president of risk management whom pled guilty just last month to knowingly accepting unlawful wagers.
Denial through the Top
Parent business Cantor Fitzgerald was fast 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 which he participated in illegal bookmaking is false and baseless.’
Of program, Anthony Weiner additionally vehemently denied he was still sexting, therefore there you go regarding denials of rumors.
Accepting wagers from ‘runners’ people whom destination wagers for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It could definitely 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 casino-bonus-free-money.com new Gaming and sports books at the Atlantis Casino on Paradise Island within the Bahamas. The company now has eight sports books in Las Vegas, operates the Palms Casino poker space, and provides mobile betting apps, combined with the Atlantis that is new book that 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 his guilty plea up to a single felony fee of conspiracy in a ny federal courthouse (bet we can guess what type). In accordance with court papers, he will get sentencing Dec. 9, joining so numerous others who is going to be having a fun vacation 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, whenever 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, money and corruption laundering, but the Queens case had been dismissed therefore 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 performing like a bird so he can fly free in December? Time will tell.
To his credit Amaitis did apparently aid within the rebuilding of parent business Cantor Fitzgerald after the September 11th attacks on the entire world Trade Center, in which the company destroyed about 2/3rds of their employees. Amaitis was in London at the right 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 appears to be 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 from it, however; that’s when chairman associated with the Pennsylvania Gaming Control Board William H. Ryan, Jr. says the chosen project for Philly’s coveted 2nd casino license should be determined. With six candidates waiting eagerly in the wings, you will have a general public hearing held in January to help determine which one will be the fit that is best, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in Las Vegas.
‘The hearings gives applicants a possiblity to show the board and make their case for why they should be awarded the permit,’ Lerner stated in a released research note. ‘It is possible bidders that are losing charm the board’s choice to their state Supreme Court, which could take approximately 6 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 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, next 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 had been in the operating right back in 2010 by having a $600 million task, but pulled out before a decision was made at the period.
The proposed Philly casino and also the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they are also focusing 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 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 situation is definately not hopeless, noting similar dire predictions were attached 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 Establish Plan Formally Announced
Coming to nj-new Jersey, just in time for Thanksgiving: Internet gambling enterprises
It’s been a wait that is long but as anticipated, nj’s endeavor into the realm of online gambling begins on November 26, enabling state residents to begin 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 commence a ‘soft play’ launch on November 21. At that time, merely a limited amount of invited guests will be able to play on the sites. Assuming that all goes well with the websites for the reason that period, then full range, real money online gambling will begin at 9 a.m. local time on the 26th.
The principles for playing on nj-new jersey’s gambling sites will be simple. In order to play, users will physically have to be located within brand New Jersey, but are not required to reside there. All players has 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 will allow them to launch their Web gambling enterprises, while a 10th the Trump Plaza is rumored to have partner with Betfair, though which has yet to be confirmed.
Among the list of confirmed partnerships, the Borgata is understood become using bwin.party, while Caesars Entertainment which owns four Atlantic City properties will likely be partnering with 888 Holdings. Meanwhile, Resorts Casino resort has announced a partnership with PokerStars, while the Taj Mahal will utilize Ultimate Gaming, which already has experience now running the online that is first site going to 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 dealing with Bally Technologies.
Dropping Profits for AC Land Casinos
The internet 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 previous couple of years, lots of new casino properties in Pennsylvania, New York, Maryland and other regionally competitive places have chipped away at that revenue, which endured just over $3 billion year that is last could fall below that mark in 2013. This fall became much more precipitous after Hurricane Sandy caused damage that is heavy the New Jersey coast in late 2012. That has led to a loss of jobs and tax revenue for their state.
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 think the internet impact are going to be good, providing essential revenue for the floundering casinos there.
New Jersey’s Internet gambling law ended up being passed by both houses and signed into law by Governor Chris Christie earlier this year. That came after Christie had previously vetoed a similar law the 12 months before, citing issues that the bill might not pass constitutional muster. But the new version associated with 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 way to debate its merits again in ten years.
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