Cantor Gaming CEO Under Possible Investigation by Feds

CEO Lee Amaitis (center) recently launched 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 position of power somewhere being scrutinized by the feds anymore, it seems. Now Cantor Gaming CEO Lee Amaitis is under the limelight, 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 simply last month to knowingly accepting unlawful bets.

Denial through the Top

Parent company Cantor Fitzgerald was quick to deny the rumor, however, saying in an issued statement: ‘We feel compelled to address this irresponsible 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 program, Anthony Weiner also vehemently denied he was still sexting, so 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 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 offers mobile betting apps, combined with new Atlantis guide, that will be their first run outside of Nevada.

No Allegations Officially Made

Cantor Fitzgerald ended up being 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 fee of conspiracy in a ny federal courthouse (bet we can guess which one). Based on court papers, he will get sentencing Dec. 9, joining so numerous others who is having an enjoyable holiday in the joint from the wonderful world of gaming.

Colbert was acquired in a joint arrest couple of years ago, along side 24 others, when he was caught red-handed for an illegal sports to his involvement betting ring in Queens, NY. He originally was looking at eights counts of conspiracy, corruption and cash laundering, but the Queens case was dismissed and also the matter of his moving $100K in gambling profits from Las vegas, nevada 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 his credit Amaitis did reportedly aid in the rebuilding of parent business Cantor Fitzgerald after the September 11th attacks on the planet Trade Center, when the company destroyed about 2/3rds of their workers. Amaitis was in London during the right 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 who began back East with the original home that has now become the much-sought-after Atlantic Club in nj’s video gaming mecca seems to be placing a lot of energy into reclaiming his stakes for the reason that component of the world. While video gaming mogul Steve Wynn waits to see which means the wind will blow in Massachusetts for approval of his proposed Everett, Massachusetts project, he normally waiting to have word on another brand 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 is when chairman for the Pennsylvania Gaming Control Board William H. Ryan, Jr. states the chosen project for Philly’s coveted 2nd casino license should be determined. With six candidates waiting eagerly in the wings, you will have a public hearing held in January to greatly help determine what type is the fit that is best, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in Las Vegas.

‘The hearings will give applicants a possiblity to give the board and make their situation for why they should be granted the permit,’ Lerner stated in a research note that is released. ‘It is possible losing bidders could impress the board’s choice to hawaii Supreme Court, which could take approximately 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 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 60-acre waterfront property.

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

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 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 appears to have leveled off,’ Schwartz said. ‘Remember, it went from zero to $3 billion. It could be because it’s a $3 billion industry.’

But Schwartz adds that the situation is definately not hopeless, noting equivalent predictions that are dire attached 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 Formally Announced

Coming to nj-new Jersey, just in time for Thanksgiving: Internet gambling enterprises

This has been a wait that is long but as anticipated, nj-new jersey’s venture into the world of Web gambling will begin on November 26, enabling state residents to begin playing a common 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 commence a ‘soft play’ launch on 21 november. At that time, just a limited quantity of invited guests will be able to play on the sites. Assuming that all goes well with web sites 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-new jersey’s gambling sites are going to be simple. In order to play, users will have to be actually located within New Jersey, but are not required to reside there. All players has to be at least 21 years of age.

Thus far, nine of the 12 casinos in Atlantic City have announced partnerships with pc software providers that enables them to launch their online casinos, while a 10th the Trump Plaza is rumored to have partner with Betfair, though who has yet to be confirmed.

The Borgata casino-online-australia.net/ 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, whilst the Taj Mahal will make use of Ultimate Gaming, which already has experience now running the first on-line poker site hitting in Nevada (Caesars Interactive has now launched a 2nd site there). Meanwhile, the Tropicana Casino and Resort will partner with Gamesys Limited. Finally, the Golden Nugget has announced that it shall be dealing with Bally Technologies.

Dropping Profits 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 a high that is all-time of5.2 billion. But in the last few years, lots of new casino properties in Pennsylvania, ny, Maryland and other regionally competitive locations have 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 shore in belated 2012. That has resulted in a loss in jobs and tax revenue for the state.

Not everyone is convinced that on the web gambling will make much of an impact. Some are worried 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 net impact are positive, providing essential revenue for the floundering casinos there.

New Jersey’s Internet gambling law 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. However the new version associated with law was approved after Christie first issued a veto that is conditional which allowed legislators to produce some small changes to the bill, including requiring it to expire in a decade to make certain that legislators would have an opportunity to debate its merits again in ten years.