Cantor Gaming CEO Under Possible Investigation by Feds

Cantor Gaming CEO Under Possible Investigation by Feds

CEO Lee Amaitis (center) recently started 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 bets.

Denial from the Top

Parent company Cantor Fitzgerald was 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 which he participated in unlawful bookmaking is baseless and false.’

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 place bets 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 Cantor that is new Gaming and sports books at the Atlantis Casino on Paradise Island within the Bahamas. The company now has eight sports publications in Las Vegas, runs the Palms Casino poker space, and offers mobile betting apps, combined with Atlantis that is new book that is their first run outside of Nevada.

No Allegations Officially Made

Cantor Fitzgerald had been 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 already 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 receive sentencing Dec. 9, joining so many others who will likely be having a fun 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 had been caught red-handed for an illegal sports to his involvement betting band in Queens, NY. He originally was looking at eights counts of conspiracy, money and corruption 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 totally free in December? Time will tell.

To his credit Amaitis did reportedly aid within the rebuilding of parent business Cantor Fitzgerald after the September attacks that are 11th the World Trade Center, when the company lost about 2/3rds of their workers. Amaitis was in 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 off back East with the property that is original has now end up being the much-sought-after Atlantic Club in New Jersey’s gaming mecca seems to be putting a lot of energy into reclaiming his stakes for the reason that part of the world. 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 obtain word on another new resort casino destined for the Philadelphia, Pennsylvania area.

No Decisions Till Next Spring

Wynn will need to wait until lucky nugget saloon show early Spring 2014, through the looks from it, but; that’s when chairman associated with 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, you will have a general public hearing held in January to greatly help decide which one will be the best fit, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in vegas.

‘The hearings will give applicants an opportunity to present to 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 attract the board’s choice to their state Supreme Court, which could take approximately 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 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 provided 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 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 was made at the period.

The proposed Philly casino as well as the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they may 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 actually blockbuster growth, now it seems to have leveled off,’ Schwartz said. ‘Remember, it went from zero to $3 billion. It might be because it’s a $3 billion industry.’

But Schwartz adds that the specific situation is far from hopeless, noting similar dire predictions were connected to the Las Vegas market several times, in 1989, 1993, and again in 1998. He states A wynn that is new resorts in Philadelphia could very possibly reinvigorate the industry there.

Nj Online Gambling Publish Plan Officially Announced

Coming to New Jersey, just in time for Thanksgiving: Internet casinos

It has been a long wait, but as anticipated, New Jersey’s endeavor into the realm of online gambling will start 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. When this occurs, only a limited wide range of invited guests should be able to play on the sites. Assuming that all goes well with the sites in that period, then full range, real money online gambling will begin at 9 a.m. local time on the 26th.

The principles for playing on nj’s gambling sites will likely be easy. In order to try out, users will physically have to be located within New Jersey, but are not necessary to reside there. All players will have become at least 21 years of age.

Thus far, nine of the 12 casinos in Atlantic City have announced partnerships with computer software providers that will allow them to launch their Web 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 resort has announced a partnership with PokerStars, as the Taj Mahal will use Ultimate Gaming, which already has experience now running the first online poker web site to hit in Nevada (Caesars Interactive has now launched a second site there). Meanwhile, the Tropicana Casino and Resort will partner with Gamesys Limited. Finally, the Golden Nugget has announced that it will be working with Bally Technologies.

Dropping Revenues for AC Land Casinos

The internet gambling launch will come being a welcome possibility 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. However in the previous couple of years, lots of brand new casino properties in Pennsylvania, ny, Maryland and other regionally competitive places have actually chipped away at that income, which stood at just over $3 billion year that is last could fall below that mark in 2013. This autumn became even more precipitous after Hurricane Sandy caused damage that is heavy this new Jersey coast 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 concerned it may just shift players who typically arrived to gamble in the casino to online gaming, which could even be harmful, as they will never be buying rooms in hotels and food or shopping at the casino resorts. But industry officials that are most believe the web effect are positive, providing necessary revenue for the floundering casinos there.

New Jersey’s Internet gambling law 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 year before, citing concerns that the bill might not pass muster that is constitutional. However the new version of the law was approved after Christie first issued a veto that is conditional which permitted legislators in order to make some minor changes to the bill, including requiring it to expire in a decade so that legislators would have an opportunity to debate its merits again in ten years.

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