
CEO Lee Amaitis (center) recently started the Cantor Gaming Atlantis sports book; some say he is under federal scrutiny now
Perhaps 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 layer 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 bets.
Denial from the Top
Parent company Cantor Fitzgerald was fast to deny the rumor, however, saying in a issued statement: ‘We feel compelled to address this reckless and rumor that is baseless. The notion that Lee Amaitis is a target of federal prosecutors or that he participated in illegal bookmaking is false and baseless.’
Of course, Anthony Weiner additionally vehemently denied he was still sexting, so there you go with regards to denials of rumors.
Accepting wagers from ‘runners’ people who spot 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 new Cantor Gaming battle and sports books at the Atlantis Casino on Paradise Island in the Bahamas. The company now has eight sports publications in Las Vegas, operates the Palms Casino poker room, and provides mobile betting apps, along with the new Atlantis book, which 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 charge of conspiracy in a ny federal courthouse (bet we can guess what type). In accordance with documents, he’ll receive sentencing Dec. lucky nugget tournament 9, joining so many others who is having an enjoyable holiday in the joint from the world that is wonderful of.
Colbert had been found in a joint arrest couple of years ago, along side 24 others, when he had been caught red-handed for his participation with an illegal activities betting ring in Queens, NY. He originally was searching at eights counts of conspiracy, money and corruption laundering, but the Queens case was dismissed and 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.
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 business Cantor Fitzgerald after the September 11th attacks on the planet Trade Center, when the company lost about 2/3rds of their workers. Amaitis was in London at the 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 began back East with the property that is original has end up being the much-sought-after Atlantic Club in New Jersey’s video gaming mecca appears to be putting a lot of energy into reclaiming their stakes for the reason that component of the planet. 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 have word on another brand new resort casino destined for the Philadelphia, Pennsylvania area.
No Decisions Till Next Spring
Wynn will need to hold back until early Spring 2014, through the looks of it, nonetheless; that is when chairman regarding the Pennsylvania Gaming Control Board William H. Ryan, Jr. states the selected project for Philly’s coveted 2nd casino license should be determined. With six applicants waiting eagerly in the wings, you will see a general public hearing held in January to help decide what type is the best fit, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in nevada.
‘The hearings will give applicants a chance to give the board and make their instance for why they should be awarded the permit,’ Lerner stated in a research note that is released. ‘It is possible losing bidders could charm the board’s decision to hawaii Supreme Court, which could take roughly 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 has been 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 waterfront property that is 60-acre.
This will be Wynn Resorts go at a second Philly property; they had been into the operating back in 2010 by having a $600 million project, but pulled out before a decision had been made at that time.
The proposed Philly casino and also the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the board that is drawing 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 a $3 billion industry.’
But Schwartz adds that the situation is not even close to hopeless, noting equivalent predictions that are dire 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-new Jersey Online Gambling Launch 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, New Jersey’s venture into the world of Web gambling begins on November 26, allowing state residents to begin with 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 a way to begin a ‘soft play’ launch on 21 november. At that time, merely a number that is limited of guests should be able to play on the sites. Presuming that all goes well with the websites in that period, then complete scope, real money online gambling will begin at 9 a.m. local time on the 26th.
The rules for playing on nj-new jersey’s gambling sites are going to be simple. In order to try out, users will physically have to be located within brand New Jersey, but are not required to reside there. All players may have become at the least 21 years of age.
Up to now, 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 who has yet to be confirmed.
On the list of confirmed partnerships, the Borgata is known become working with bwin.party, while Caesars Entertainment which owns four Atlantic City properties is 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 first on-line poker site to hit in Nevada (Caesars Interactive has now launched a 2nd site there). Meanwhile, the Tropicana Casino and Resort will partner with Gamesys Limited. Finally, the Golden Nugget has announced that it will be dealing with Bally Technologies.
Dropping Profits for AC Land Casinos
The internet gambling launch will come as 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 last few years, a number of new casino properties in Pennsylvania, New York, Maryland and other regionally competitive areas have actually chipped away at that revenue, which stood at just over $3 billion last 12 months and could fall below that mark in 2013. This autumn became even more precipitous after Hurricane Sandy caused heavy harm to the New Jersey coast in late 2012. That has resulted in a loss in jobs and taxation revenue for the state.
Maybe Not everyone is convinced that on the web gambling shall make much of an effect. Some are involved 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 web effect are positive, providing essential revenue for the floundering casinos there.
New Jersey’s Internet gambling legislation was 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 year 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 permitted legislators to create some small changes to the bill, including requiring it to expire in a decade to make certain that legislators would have a way to debate its merits again in ten years.
