CEO Lee Amaitis (center) recently launched the Cantor Gaming Atlantis sports book; some say he is under federal scrutiny now
Maybe 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 coat tail of colleague Michael Colbert Cantor’s now released vice president of danger management who pled guilty just last month to knowingly accepting unlawful wagers.
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 that he participated in illegal bookmaking is baseless and false.‘
Of course, Anthony Weiner additionally vehemently denied he was still sexting, so there you go when it comes to denials of rumors.
Accepting wagers from ‚runners‘ people who destination bets for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It would definitely behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for the Cantor that is new Gaming and recreations 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 provides mobile betting apps, along 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 former vice-president Colbert has recently entered their guilty plea to a single felony cost of conspiracy in A new york federal courthouse (bet we can guess which one). In accordance with documents, he can get sentencing Dec. 9, joining so many more who will be having an enjoyable visit to 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, when he was caught red-handed for his involvement with an illegal recreations betting ring in Queens, NY. He originally was looking at eights counts of conspiracy, money and corruption laundering, but the Queens case was dismissed as well as 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 singing 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 business Cantor Fitzgerald after the September 11th attacks on the lucky nugget free spins entire world Trade Center, where the company lost about 2/3rds of their employees. Amaitis was at London during the time, heading up the business’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 whom started out back East with the original home that has now get to be the much-sought-after Atlantic Club in nj’s gaming mecca is apparently putting a lot of energy into reclaiming their stakes for the reason 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, from the looks from it, nevertheless; that is when chairman regarding the 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 candidates waiting eagerly in the wings, you will have a general public hearing held in January to simply help decide what type will be the best fit, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in vegas.
‚The hearings gives applicants a possiblity to give the board and make their instance for why they should be awarded the permit,‘ Lerner stated in a released research note. ‚It is possible losing bidders could attract the board’s choice to the state Supreme Court, which could take approximately half a year.‘
Wynn’s project is naturally planned out in-depth already, with Wynn Resorts teaming up with a bevy of lovers to build this Philadelphia that is second resort ( 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 waterfront property that is 60-acre.
This will be Wynn Resorts go at a second Philly property; they were into the operating back in 2010 by having a $600 million project, but pulled out before a decision ended up being made at the period.
The proposed Philly casino while the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they are also 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 appears 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 definately not hopeless, noting similar dire predictions were connected to the Las Vegas market a few times, in 1989, 1993, and again in 1998. He claims A wynn that is new resorts in Philadelphia could very possibly reinvigorate the industry there.
Nj Online Gambling Launch 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 realm of online gambling begins on November 26, permitting 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 be able to commence a ’soft play‘ launch on November 21. When this occurs, just a number that is limited of guests will be able to play regarding the sites. Presuming that all goes well with the websites in that period, then complete range, a real income online gambling will begin at 9 a.m. local time on the 26th.
The principles for playing on nj’s gambling sites is going to be easy. In order to try out, users will physically have to be located within brand New Jersey, but are not required to live there. All players could have become at the least 21 years of age.
So far, nine of the 12 casinos in Atlantic City have announced partnerships with computer software providers that will allow them to launch their Internet casinos, while a 10th the Trump Plaza is rumored to have partner with Betfair, though that has yet to be confirmed.
On the list of confirmed partnerships, the Borgata is understood to be working with bwin.party, while Caesars Entertainment which owns four Atlantic City properties is going to be partnering with 888 Holdings. Meanwhile, Resorts Casino Hotel has announced a partnership with PokerStars, while the Taj Mahal will make use of Ultimate Gaming, which already has experience now running the online that is first web site to hit in Nevada (Caesars Interactive has now launched a 2nd site there). Meanwhile, the Tropicana Casino and Resort will mate 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 couple of years, a number of brand new casino properties in Pennsylvania, ny, Maryland and other regionally competitive places 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 all the more precipitous after Hurricane Sandy caused heavy harm to the newest Jersey coast in belated 2012. That has resulted in a lack of jobs and taxation revenue for their state.
Perhaps Not everyone is convinced that on line gambling will make much of an impact. Some are worried it might just shift players whom normally came to gamble in the casino to online gaming, which could even be harmful, because they will never be buying hotel rooms and meals or shopping at the casino resorts. But industry officials that are most think the internet effect is positive, providing much needed revenue for the floundering casinos there.
New Jersey’s Internet gambling legislation had been 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 concerns that the bill might not pass constitutional muster. Nevertheless the new version associated with the law was approved after Christie first issued a veto that is conditional which permitted legislators to help make some small changes to the bill, including requiring it to expire in a decade so that legislators would have a way to debate its merits again in ten years.