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 layer tail of colleague Michael Colbert Cantor’s now released vice president of risk management who pled guilty just last month to knowingly accepting unlawful wagers.
Denial from the Top
Parent company Cantor Fitzgerald was fast to deny the rumor, however, saying in 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 that he participated in unlawful bookmaking is baseless and false.’
Of program, Anthony Weiner also vehemently denied he was still sexting, so there you go when it comes to denials of rumors.
Accepting wagers from ‘runners’ people whom spot wagers 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, casino-online-australia.net/ given that Amaitis just attended opening ceremonies for the brand new Cantor Gaming competition and recreations books at the Atlantis Casino on Paradise Island in the Bahamas. The company now has eight sports publications in Las Vegas, runs the Palms Casino poker space, and provides mobile betting apps, combined with Atlantis that is new book which can be 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 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). According to court documents, he’ll receive sentencing Dec. 9, joining so many more who are having an enjoyable vacation in the joint from the wonderful world of gaming.
Colbert had been acquired in a joint arrest 2 yrs ago, along side 24 others, whenever he had been caught red-handed for his involvement with an illegal activities betting band in Queens, NY. He originally was searching at eights counts of conspiracy, corruption and money laundering, but the Queens case had been dismissed and 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 totally free in December? Time will tell.
To their credit Amaitis did reportedly aid into the rebuilding of parent company Cantor Fitzgerald after the September 11th attacks on the planet Trade Center, where the company lost about 2/3rds of their employees. Amaitis was at London at the time, heading up business’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 started out back East with the property that is original has end up being the much-sought-after Atlantic Club in nj-new jersey’s gaming mecca seems to be placing a lot of energy into reclaiming his stakes in that part of the planet. 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, but; that’s when chairman for the Pennsylvania Gaming Control Board William H. Ryan, Jr. claims the selected project for Philly’s coveted 2nd casino license should be determined. With six candidates waiting eagerly in the wings, there will be a general public hearing held in January to greatly help decide what type would be the best fit, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in Las Vegas.
‘The hearings gives applicants a chance to present to the board and make their instance for why they should be granted the permit,’ Lerner stated in a research note that is released. ‘It is possible bidders that are losing charm the board’s decision 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 partners 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 given 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 60-acre waterfront property.
This will be Wynn Resorts second go at a Philly property; they had been in the running right back in 2010 by having a $600 million task, but pulled out before a decision had been made at that time.
The proposed Philly casino and the possible $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?
Since 2010, it might 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 somewhat leveled out in growth (a pattern that is being seen across the U.S. in the land video gaming markets these days) into the past few years.
‘After six years of really blockbuster development, now it seems to have leveled off,’ Schwartz said. ‘Remember, it went from zero to $3 billion. It could be because it is a $3 billion industry.’
But Schwartz adds that the situation is definately not hopeless, noting the exact same predictions that are dire attached to the Las Vegas market several times, in 1989, 1993, and again in 1998. He says a new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.
New Jersey Online Gambling Launch Plan Formally Announced
Coming to nj-new Jersey, just in time for Thanksgiving: Internet casinos
It’s been a long wait, but as expected, nj’s endeavor into the world of Web 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 the ability to start a ‘soft play’ launch on November 21. At that point, merely a number that is limited of guests should be able to play regarding the sites. Assuming that all goes well with the websites in that period, then full range, real money online gambling will begin at 9 a.m. local time on the 26th.
The rules for playing on nj’s gambling sites will be simple. 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 need to be at the very least 21 years of age.
Up to now, nine of the 12 casinos in Atlantic City have announced partnerships with software providers that enables them to launch their Internet 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, as the Taj Mahal will make use of Ultimate Gaming, which already has experience now running the first on-line poker web site going to in Nevada (Caesars Interactive has now launched a second site there). Meanwhile, the Tropicana Casino and Resort will mate with Gamesys Limited. Finally, the Golden Nugget has announced that it shall be working with Bally Technologies.
Dropping Revenues for AC Land Casinos
The online 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. But in the last few years, a number of brand new casino properties in Pennsylvania, ny, Maryland and other regionally competitive places 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 all the more precipitous after Hurricane Sandy caused heavy damage to the New Jersey shore in belated 2012. That has generated a loss of jobs and tax revenue for hawaii.
Not everyone is convinced that on line gambling will make much of an impact. Some are worried that it might just shift players whom normally came to gamble in the casino to online gaming, which could also be harmful, while they will not be buying rooms in hotels and food or shopping at the casino resorts. But industry officials that are most think the web effect are positive, providing necessary income for the floundering casinos there.
New Jersey’s Internet gambling law was 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 issues that the bill might not pass constitutional muster. But the new version regarding the law was approved after Christie first issued a veto that is conditional which permitted legislators to make some minor changes to the bill, including requiring it to expire in a decade in order that legislators would have an opportunity to debate its merits again in ten years.