CEO Lee Amaitis (center) recently started the Cantor Gaming Atlantis sports book; some say he is under federal scrutiny now
Maybe Not a day goes by in the gaming universe without someone in a position of power someplace being scrutinized by the feds anymore, it appears. 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 danger 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 an issued statement: ‘We feel compelled to address this irresponsible and baseless rumor. The notion that Lee Amaitis is a target of federal prosecutors or which he participated in illegal bookmaking is false and baseless.’
Of program, Anthony Weiner also vehemently denied he was still sexting, therefore there you go when it comes to denials of rumors.
Accepting wagers from ‘runners’ people who spot bets for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It could undoubtedly behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for the new Cantor Gaming competition and sports books at the Atlantis Casino on Paradise Island into the Bahamas. The company now has eight sports publications in Las Vegas, operates the Palms Casino poker room, and provides mobile betting apps, combined with 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 former vice-president Colbert has entered his guilty plea up to a single felony cost of conspiracy in A new york federal courthouse (bet we can guess which one). Based on court documents, he’ll get sentencing Dec. 9, joining so many others who will likely be having a fun vacation in the joint from the wonderful world of gaming.
Colbert was found in a joint arrest two years ago, along with 24 others, when he had been caught red-handed for an illegal sports to his involvement betting ring in Queens, NY. He originally was searching at eights counts of conspiracy, money and corruption laundering, but the Queens case had been dismissed and also 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 reportedly aid in the rebuilding of parent company Cantor Fitzgerald after the September attacks that are 11th the entire world Trade Center, in which the company lost about 2/3rds of their employees. Amaitis was at London during 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 whom began back East with the original home that has now get to be the much-sought-after Atlantic Club in New Jersey’s video gaming mecca appears to be putting a lot of energy into reclaiming his stakes for the reason 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 need to wait until early Spring 2014, from the looks of it, but; 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 applicants waiting eagerly in the wings, there will be a public hearing held in January to help determine what type would be the fit that is best, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in nevada.
‘The hearings gives applicants a possiblity to show the board and make their case for why they should be granted the license,’ Lerner stated in a released research note. ‘It is possible bidders that are losing attract the board’s choice to the state Supreme Court, which could take roughly six months.’
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 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, 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 by having a $600 million task, but pulled out before a decision ended up being made at that point.
The proposed Philly casino as well as the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they will also be 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 development, 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 specific situation is far from hopeless, noting the same predictions that are dire attached to the Las Vegas market several 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 Formally Announced
Coming to New Jersey, just in time for Thanksgiving: Internet gambling enterprises
This has been a wait that is long but as expected, nj-new jersey’s venture into the realm of online gambling will begin on November 26, enabling 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 commence a ‘soft play’ launch on November 21. At that time, just a number that is limited of guests will be able to play on the sites. Presuming that all goes well with the sites in that period, then complete scope, a real income online gambling will begin at 9 a.m. local time on the 26th.
The principles for playing on New Jersey’s gambling sites is going to be simple. In order to try out, users will have to be physically located within New Jersey, but are not necessary to reside there. All players may have to be at the least 21 years of age.
To date, nine of the 12 casinos in Atlantic City have announced partnerships with computer software providers that allows them to launch their Internet gambling enterprises, while a 10th the Trump Plaza is https://casino-bonus-free-money.com/lucky-nugget-casino/ rumored to have partner with Betfair, though which has yet to be confirmed.
One of the confirmed partnerships, the Borgata is known become working together with bwin.party, while Caesars Entertainment which owns four Atlantic City properties will likely be partnering with 888 Holdings. Meanwhile, Resorts Casino resort has announced a partnership with PokerStars, while the Taj Mahal will make use of Ultimate Gaming, which already has experience now running the first internet poker web site to hit 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 dealing with Bally Technologies.
Dropping Revenues for AC Land Casinos
The web gambling launch will come as a welcome possibility 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. But in the previous couple of years, lots of brand new casino properties in Pennsylvania, nyc, Maryland and other regionally competitive locations have actually chipped away at that revenue, which stood at only over $3 billion last year and could fall below that mark in 2013. This autumn became even more precipitous after Hurricane Sandy caused heavy injury to the newest Jersey shore in late 2012. That has generated a loss of jobs and tax revenue for hawaii.
Perhaps Not everyone is convinced that online 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 most industry officials believe the internet impact will likely be positive, providing much needed income for the floundering casinos there.
New Jersey’s Internet gambling law ended up being passed by both houses and signed into law by Governor Chris Christie earlier this year. That came after Christie had previously vetoed a similar law the year before, citing concerns that the bill might not pass muster that is constitutional. Nevertheless the new version of this law was approved after Christie first issued a veto that is conditional which allowed legislators to help make some minor changes to the bill, including requiring it to expire in a decade to ensure legislators would have a chance to debate its merits again in ten years.
