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 limelight, according to the The Wall Street Journal, on the coat tail of colleague Michael Colbert Cantor’s now released vice president of risk management who pled guilty just last month to knowingly accepting illegal bets.
Denial from the Top
Parent company Cantor Fitzgerald was https://wheresthegoldslots.com/red-baron/ quick 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 he participated in illegal bookmaking is false and baseless.‘
Of program, Anthony Weiner also vehemently denied he was still sexting, therefore there you go with regards to denials of rumors.
Accepting wagers from ‚runners‘ people whom destination wagers 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 a Cantor that is new Gaming and recreations books at the Atlantis Casino on Paradise Island in the Bahamas. The company now has eight sports books in Las Vegas, runs the Palms Casino poker room, and offers mobile betting apps, combined with the Atlantis that is new book which is their first run outside of Nevada.
No Allegations Officially Made
Cantor Fitzgerald was 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 entered his guilty plea up to a solitary felony charge of conspiracy in A new york federal courthouse (bet we can guess which one). Based on court documents, he can get sentencing Dec. 9, joining so many others who will be having a fun holiday in the joint from the world that is wonderful of.
Colbert had been acquired in a joint arrest 2 yrs ago, along with 24 others, when he was caught red-handed for their involvement with an illegal activities betting band in Queens, NY. He originally was looking at eights counts of conspiracy, corruption and cash laundering, but the Queens case ended up being dismissed as well as the matter of his moving $100K in gambling profits from Las Vegas 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 company Cantor Fitzgerald after the September attacks that are 11th the entire world Trade Center, where the company destroyed about 2/3rds of their workers. 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 one of six casino companies pitching to enter the Philadelphia gaming market
The casino legend who started out back East with the property that is original has now end up being the much-sought-after Atlantic Club in nj’s video gaming mecca is apparently placing a lot of energy into reclaiming his stakes in that part of the planet. While video gaming mogul Steve Wynn waits to see which method the wind will blow in Massachusetts for approval of his proposed Everett, Massachusetts project, he normally waiting to get word on another brand new resort casino destined for the Philadelphia, Pennsylvania area.
No Decisions Till Next Spring
Wynn will need to wait until early Spring 2014, from the looks of it, nevertheless; that is when chairman for the Pennsylvania Gaming Control Board William H. Ryan, Jr. states the chosen project for Philly’s coveted second casino permit should be determined. With six candidates waiting eagerly in the wings, you will have a public hearing held in January to simply help determine what type would be the best fit, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in vegas.
‚The hearings can give applicants a chance to give the board and make their situation for why they should be awarded the permit,‘ Lerner stated in a research note that is released. ‚It is possible bidders that are losing appeal 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 currently, with Wynn Resorts teaming up with a bevy of lovers to build this Philadelphia that is second resort ( 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 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 60-acre waterfront property.
This will be Wynn Resorts second go at a Philly property; they had been into the running right back in 2010 having a $600 million project, but pulled out before a decision was made at the period.
The proposed Philly casino and the possible $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 development, now it appears to have leveled off,‘ Schwartz said. ‚Remember, it went from zero to $3 billion. It might be because it’s really a $3 billion industry.‘
But Schwartz adds that the problem is far from hopeless, noting equivalent predictions that are dire connected to the Las Vegas market a few times, in 1989, 1993, and again in 1998. He states a brand new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.
Nj-new Jersey Online Gambling Establish Plan Officially Announced
Coming to New Jersey, just in time for Thanksgiving: Internet gambling enterprises
It’s been a wait that is long but as anticipated, nj-new jersey’s endeavor into the world of online gambling will start on November 26, enabling 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 a way to begin a ’soft play‘ launch on November 21. When this occurs, just a number that is limited of guests will be able to play on the sites. Presuming that all goes well with the websites for the reason that period, then full scope, real money online gambling will begin at 9 a.m. local time on the 26th.
The rules for playing on nj’s gambling sites is going to be simple. In order to play, users will physically have to be located within brand New Jersey, but are not essential to reside there. All players may have become at the least 21 years of age.
So far, nine of the 12 casinos in Atlantic City have announced partnerships with software providers that allows them to launch their Internet gambling enterprises, while a 10th the Trump Plaza is rumored to have partner with Betfair, though which includes 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 Hotel has announced a partnership with PokerStars, even though 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 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 using Bally Technologies.
Dropping Revenues for AC Land Casinos
The web 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 a high that is all-time of5.2 billion. But in the previous couple of years, a number of brand new casino properties in Pennsylvania, New York, Maryland and other regionally competitive places have chipped away at that revenue, which stood just 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 damage that is heavy the brand new Jersey coast in late 2012. That has resulted in a loss of jobs and taxation revenue for hawaii.
Not everyone is convinced that online gambling will make much of an impact. Some are involved that it may just shift players who typically arrived to gamble in the casino to online video gaming, which could even be harmful, as they will not be purchasing resort rooms and food or shopping at the casino resorts. But most industry officials believe the web impact is going to be good, providing essential revenue for the floundering casinos there.
New Jersey’s Internet gambling legislation ended up being 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 of this law was approved after Christie first issued a veto that is conditional which permitted legislators to create some minor changes to the bill, including requiring it to expire in a decade so that legislators would have a chance to debate its merits again in ten years.