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
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 seems. 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 risk management whom pled guilty simply last month to knowingly accepting unlawful bets.
Denial through the Top
Parent company 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 he participated in illegal bookmaking is baseless and false.’
Of program, Anthony Weiner also vehemently denied he was still sexting, therefore 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 would certainly 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 within the Bahamas. The company now has eight sports books in Las Vegas, operates the Palms Casino poker room, and provides mobile betting apps, along with the new Atlantis 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 already entered their guilty plea up to a single felony cost of conspiracy in A new york federal courthouse (bet we can guess which one). In accordance with documents, he’ll receive sentencing Dec. 9, joining so numerous others who will be having an enjoyable holiday in the joint from the wonderful world of video gaming.
Colbert had been acquired in a joint arrest two years ago, along with 24 others, when he was 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 was dismissed and also the matter of his moving $100K in gambling profits from nevada 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 free in December? Time will tell.
To their credit Amaitis did apparently aid within the rebuilding of parent company Cantor Fitzgerald after the September 11th attacks on the World Trade Center, when the company lost about 2/3rds of their employees. Amaitis was in London during the right time, heading up the company’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 off back East with the original home that has now end up being the much-sought-after Atlantic Club in New Jersey’s gaming mecca is apparently putting a lot of energy into reclaiming his stakes in that part of the world. While video gaming mogul Steve Wynn waits to see which means the wind will blow in Massachusetts for approval of their 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, through the looks of it, but; that’s when chairman of the Pennsylvania Gaming Control Board William H. Ryan, Jr. states the chosen project for Philly’s coveted second casino license should be determined. With six candidates waiting eagerly in the wings, there will be a public hearing held in January to help decide which one is the best fit, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in Las Vegas.
‘The hearings will give applicants an opportunity to present to the board and make their situation for why they should be granted 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 roughly half a year.’
Wynn’s project is naturally planned out in-depth already, with Wynn Resorts teaming up with a bevy of partners to build this second Philadelphia resort casino ( 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 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 having a $600 million project, 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 board that is drawing 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 could be because it’s really a $3 billion industry.’
But Schwartz adds that the situation is definately not hopeless, noting the same predictions that are dire connected 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-new Jersey Online Gambling Launch Plan Formally Announced
Coming to New Jersey, just in time for Thanksgiving: Internet casinos
It has been a wait that is long but as expected, nj’s venture into the realm of Internet gambling will start on November 26, allowing state residents to start 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. At that time, merely a number that is limited of guests will be able to play regarding the sites. Presuming that all goes well with the sites for the reason that period, then complete range, real money online gambling will begin at 9 a.m. local time on the 26th.
The principles for playing on nj’s gambling sites are going to be simple. In order to relax and play, users will need to be actually located within brand New Jersey, but are not essential to reside there. All players may have become at the least 21 years of age.
To date, nine of the 12 casinos in Atlantic City have announced partnerships with pc software providers that allows them to launch their Web gambling enterprises, 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 https://casino-bonus-free-money.com/lucky-nugget-casino/ Atlantic City properties will be partnering with 888 Holdings among the confirmed partnerships. Meanwhile, Resorts Casino Hotel has announced a partnership with PokerStars, even though the Taj Mahal will use Ultimate Gaming, which already has experience now running the first internet poker web site to hit 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 working together with Bally Technologies.
Dropping Profits for AC Land Casinos
The web 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. However in the previous couple of years, a number of brand new casino properties in Pennsylvania, New York, Maryland and other regionally competitive locations have actually chipped away at that income, which stood at only over $3 billion year that is last could fall below that mark in 2013. This autumn became all the more precipitous after Hurricane Sandy caused heavy injury to the New Jersey shore in belated 2012. That has resulted in a loss in jobs and tax revenue for the state.
Maybe Not everyone is convinced that online 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 most industry officials think the internet effect will likely be positive, providing essential income for the floundering casinos there.
New Jersey’s Internet gambling law ended up being 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. However the new version associated with the law was approved after Christie first issued a veto that is conditional which allowed legislators in order to make some small changes to the bill, including requiring it to expire in a decade in order that legislators would have a chance to debate its merits again in ten years.