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CEO Lee Amaitis (center) recently opened 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 coating tail of colleague Michael Colbert Cantor’s now released vice president of risk management who pled guilty month that is just last knowingly accepting unlawful wagers.
Denial from the Top
Parent company Cantor Fitzgerald was quick to deny the rumor, however, saying in a 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 he participated in unlawful bookmaking is baseless and false.’
Of course, Anthony Weiner also vehemently denied he was still sexting, so there you go with regards to denials of rumors.
Accepting wagers from ‘runners’ people who spot 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 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 offers mobile betting apps, combined with Atlantis that is new book that 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 recently entered their guilty plea to a single felony cost of conspiracy in a ny federal courthouse (bet we can guess what type). According to court papers, he can receive sentencing Dec. 9, joining so many more who will be having a great vacation in the joint from the wonderful world of gaming.
Colbert had been picked playpokiesfree.com up in a joint arrest couple of years ago, along side 24 others, when he was caught red-handed for his participation with an illegal recreations 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 therefore 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 free in December? Time will tell.
To their credit Amaitis did apparently aid in the rebuilding of parent business Cantor Fitzgerald after the September 11th attacks on the World Trade Center, in which the company lost about 2/3rds of their workers. Amaitis was at London at the 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 off back East with the original home that has now get to be the much-sought-after Atlantic Club in nj’s video gaming mecca is apparently putting a lot of energy into reclaiming his stakes in that part of the planet. While gaming mogul Steve Wynn waits to see which means the wind will blow in Massachusetts for approval of their proposed Everett, Massachusetts project, he can also be waiting getting word on another new resort casino destined for the Philadelphia, Pennsylvania area.
No Decisions Till Next Spring
Wynn will need to hold back until early Spring 2014, through the looks of it, however; that is when chairman regarding the Pennsylvania Gaming Control Board William H. Ryan, Jr. says the selected project for Philly’s coveted 2nd casino license should be determined. With six candidates waiting eagerly in the wings, you will have a general public hearing held in January to help decide which one would be the best fit, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in Las Vegas.
‘The hearings gives applicants a possiblity to present to the board and make their case for why they should be granted the permit,’ Lerner stated in a released research note. ‘It is possible bidders that are losing impress the board’s decision to the state Supreme Court, which could take roughly 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 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 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 waterfront property that is 60-acre.
This will be Wynn Resorts second go at a Philly property; they had been into the operating right back in 2010 having a $600 million project, but pulled out before a decision had been made at that time.
The proposed Philly casino while 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?
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 significantly leveled out in growth (a pattern that is being seen across the U.S. in the land video gaming areas today) in the past couple of years.
‘After six years of really blockbuster growth, now it generally 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 problem is not even close to hopeless, noting the same predictions that are dire connected to the Las Vegas market several times, in 1989, 1993, and again in 1998. He states a new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.
Nj Online Gambling Launch Plan Formally Announced
Coming to nj-new Jersey, just in time for Thanksgiving: Internet gambling enterprises
It’s been a wait that is long but as anticipated, nj’s venture into the world of online gambling begins on November 26, permitting 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 be able to start a ‘soft play’ launch on November 21. At that point, merely a number that is limited of guests will be able to play in the sites. Assuming that all goes well with the websites for the reason that period, then full scope, a real income online gambling will begin at 9 a.m. local time on the 26th.
The principles for playing on nj’s gambling sites are going to be simple. In order to relax and play, users will physically have to be located within New Jersey, but are not essential to live there. All players has become at the very least 21 years of age.
Thus far, nine of the 12 casinos in Atlantic City have announced partnerships with pc software providers that will allow them to launch their Internet casinos, while a 10th the Trump Plaza is rumored to have partner with Betfair, though which includes yet to be confirmed.
On the list of confirmed partnerships, the Borgata is known to be working together with bwin.party, while Caesars Entertainment which owns four Atlantic City properties is partnering with 888 Holdings. Meanwhile, Resorts Casino Hotel has announced a partnership with PokerStars, while the Taj Mahal will utilize Ultimate Gaming, which already has experience now running the online that is first site hitting 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 using Bally Technologies.
Dropping Revenues for AC Land Casinos
The online 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 last few years, a number of brand new casino properties in Pennsylvania, New York, Maryland and other regionally competitive areas have actually chipped away at that income, which stood just over $3 billion last year and could fall below that mark in 2013. This autumn became even more precipitous after Hurricane Sandy caused damage that is heavy the latest Jersey coast in late 2012. That has generated a loss of jobs and income tax revenue for the state.
Perhaps Not everyone is convinced that online gambling will 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 web impact will likely be positive, providing necessary income for the floundering casinos there.
New Jersey’s Internet gambling law ended up being passed 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. However the new version for 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.
