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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

Perhaps Not a day goes by in the gaming universe without someone in a place 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 coating tail of colleague Michael Colbert Cantor’s now released vice president of danger management whom pled guilty month that is just last knowingly accepting illegal wagers.

Denial through the Top

Parent business Cantor Fitzgerald was quick to deny the rumor, however, saying in an 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 which he participated in unlawful bookmaking is false and baseless.’

Of course, 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 whom 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 the Cantor that is new Gaming and recreations books at the Atlantis Casino on Paradise Island into the Bahamas. The company now has eight sports books in Las Vegas, runs the Palms Casino poker room, and provides mobile betting apps, combined with new Atlantis book, which will be their first run outside of Nevada.

No Allegations Officially Made

Cantor Fitzgerald had been 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 to a single felony charge of conspiracy in a ny federal courthouse (bet we can guess which one). According to court documents, he’ll get sentencing Dec. 9, joining so many others who will likely be having a fun holiday in the joint from the wonderful world of video gaming.

Colbert had been found in a joint arrest 2 yrs ago, along with 24 others, whenever he had been caught red-handed for their involvement with an illegal sports betting band in Queens, NY. He originally was searching at eights counts of conspiracy, money and corruption laundering, but the Queens case had been dismissed as well as the matter of his moving $100K in gambling profits from 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 performing like a bird so he can fly totally free in December? Time will tell.

To his credit Amaitis did reportedly aid into the rebuilding of parent business Cantor Fitzgerald after the September attacks that are 11th the entire world Trade Center, in which the company destroyed about 2/3rds of their workers. Amaitis was in London during the right time, heading up the company’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 started out back East with the original property that has now become the much-sought-after Atlantic Club in nj-new jersey’s gaming mecca seems to be putting a lot of energy into reclaiming their stakes in that part of the entire world. While video gaming mogul Steve Wynn waits to see which method the wind will blow in Massachusetts for approval of their proposed Everett, Massachusetts project, he can be waiting to get word on another new resort casino destined for the Philadelphia, Pennsylvania area.

No Decisions Till Next Spring

Wynn will have to hold back until early Spring 2014, through the looks from it, but; that’s when chairman associated with Pennsylvania Gaming Control Board William H. Ryan, Jr. says 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 greatly help determine which one will be the best fit, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in nevada.

‘The hearings can give applicants a possiblity to present to the board and make their instance for why they should be awarded the license,’ Lerner stated in a released research note. ‘It is possible losing bidders could appeal the board’s choice to the state Supreme Court, which could take approximately 6 months.’

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 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 offered 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 60-acre waterfront property.

This will be Wynn Resorts go at a second Philly property; they had been in the operating right back in 2010 with a $600 million task, but pulled out before a decision was made at that point.

The proposed Philly casino and also the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the drawing board; they are 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 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 problem is definately not hopeless, noting exactly the same predictions that are dire attached to the Las Vegas market several times, in 1989, https://casino-bonus-free-money.com/lucky-nugget-casino/ 1993, and again in 1998. He states 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 casinos

It’s been a long wait, but as anticipated, nj-new jersey’s venture into the world of online gambling will begin 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 be able to begin a ‘soft play’ launch on November 21. When this occurs, only a limited amount of invited guests should be able to play on the sites. Assuming that all goes well with the websites for the reason that period, then full range, real money online gambling will begin at 9 a.m. local time on the 26th.

The guidelines for playing on nj’s gambling sites are going to be easy. In order to play, users will physically have to be located within brand New Jersey, but are not necessary to live there. All players need become at the 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 online gambling enterprises, while a 10th the Trump Plaza is rumored to have partner with Betfair, though that has yet to be confirmed.

Among the list of confirmed partnerships, the Borgata is known to be dealing with bwin.party, while Caesars Entertainment which owns four Atlantic City properties will be partnering with 888 Holdings. 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 online that is first 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 together with Bally Technologies.

Dropping Revenues for AC Land Casinos

The internet gambling launch will come as a opportunity that is welcome 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 few years, a number of new casino properties in Pennsylvania, nyc, Maryland and other regionally competitive places have chipped away at that income, which endured just over $3 billion last year and could fall below that mark in 2013. This fall became all the more precipitous after Hurricane Sandy caused heavy injury to the New Jersey coast in late 2012. That has led to a loss of jobs and income tax revenue for hawaii.

Perhaps Not everyone is convinced that on line gambling will make much of an effect. Some are worried it may just shift players who usually arrived to gamble in the casino to online gaming, which could also be harmful, because they will never be purchasing rooms in hotels and meals or shopping at the casino resorts. But industry officials that are most think the internet effect will likely be good, providing necessary revenue for the floundering casinos there.

New Jersey’s Internet gambling law was passed 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 12 months before, citing concerns that the bill might not pass muster that is constitutional. Nevertheless the new version associated with the law was approved after Christie first issued a conditional veto, which permitted legislators to 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.