Cantor Gaming CEO Under Possible Investigation by Feds

CEO Lee Amaitis (center) recently exposed 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 coating tail of colleague Michael Colbert Cantor's now released vice president of risk management whom pled guilty month that is just last knowingly accepting illegal bets.

Denial through the Top

Parent business Cantor Fitzgerald was fast to deny the rumor, however, saying in a 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 that he participated in illegal bookmaking is false and baseless.'

Of program, Anthony Weiner additionally vehemently denied he was still sexting, therefore there you go when it comes to denials of rumors.

Accepting wagers from 'runners' people whom place wagers for an operation is illegal in Nevada, where Cantor Gaming is headquartered.

It would undoubtedly 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 battle and recreations books at the Atlantis Casino on Paradise Island in 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 the new Atlantis book, which 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 to a single felony cost of conspiracy in a ny federal courthouse (bet we can guess which one). Based on documents, he can get sentencing Dec. 9, joining so many more who are going to be having a fun vacation in the joint from the world that is wonderful of.

Colbert had been found in a joint arrest couple of years ago, along with 24 others, whenever he was caught red-handed for an illegal sports to his involvement betting band in Queens, NY. He originally was searching at eights counts of conspiracy, money and corruption laundering, but the Queens case was dismissed plus 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 free bonus spartacus slots will tell.

To his credit Amaitis did apparently aid in the rebuilding of parent business Cantor Fitzgerald after the September attacks that are 11th the World Trade Center, in which the company lost about 2/3rds of their employees. Amaitis was at London at the time, heading up the business enterprise'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 who started off back East with the original property that has end up being the much-sought-after Atlantic Club in nj-new jersey's video gaming mecca seems to be placing 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 can be waiting getting word on another brand new resort casino destined for the Philadelphia, Pennsylvania area.

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. says the chosen project for Philly's coveted casino that is second should be determined. With six applicants waiting eagerly in the wings, you will see a public hearing held in January to help decide what type will be the best fit, noted Bill Lerner, whom runs Union Gaming Research, an industry analyst in nevada.

'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 released research note. 'It is possible bidders that are losing charm the board's decision to hawaii 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 partners to build this Philadelphia that is second resort ( the HSP Gaming's SugarHouse was 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, 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 running right back in 2010 with a $600 million task, but pulled out before a decision had been made at the period.

The proposed Philly casino while the feasible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the board that is drawing they will also be working on a $4 billion casino for Macau's Cotai Strip.

Is Pennsylvania Market Leveling Out?

Since 2010, it would likely now be tougher for Wynn to crack into the Pennsylvania market; industry expert David Schwartz who heads up the Gaming Research Center at vegas' University of Nevada (UNLV), says that region has significantly leveled away in growth (a pattern that is being seen across the U.S. into the land video gaming areas these days) in the past few years.

'After six years of actually 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 far from 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 Establish Plan Formally Announced

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

It's been a wait that is long but as expected, nj-new jersey's endeavor into the realm of Internet gambling begins on November 26, enabling state residents to begin with 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 have a way to commence a 'soft play' launch on November 21. At that point, only a limited wide range of invited guests should be able to play regarding 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 guidelines for playing on New Jersey's gambling sites are going to be simple. In order to play, users will physically have to be located within brand New Jersey, but are not necessary to reside there. All players may have become at the least 21 years of age.

Up to now, nine of the 12 casinos in Atlantic City have announced partnerships with computer software providers that allows 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.

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 is partnering with 888 Holdings. Meanwhile, Resorts Casino Hotel has announced a partnership with PokerStars, even though the Taj Mahal will make use of Ultimate Gaming, which already has experience now running the first on-line poker web site to hit in Nevada (Caesars Interactive has now launched a 2nd site there). Meanwhile, the Tropicana Casino and Resort will mate with Gamesys Limited. Finally, the Golden Nugget has announced that it will be dealing with Bally Technologies.

Dropping Revenues for AC Land Casinos

The internet gambling launch will come as a welcome opportunity 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. But in the previous few years, lots of new casino properties in Pennsylvania, ny, Maryland and other regionally competitive locations have chipped away at that revenue, which stood at only over $3 billion year that is last could fall below that mark in 2013. This fall became much more precipitous after Hurricane Sandy caused heavy harm to this new Jersey coast in belated 2012. That has led to a loss of jobs and income tax revenue for the state.

Perhaps Not everyone is convinced that on the web gambling will make much of an impact. Some are involved it might just shift players whom generally arrived to gamble in the casino to online gaming, which could even be harmful, because they will not be buying resort rooms and meals or shopping at the casino resorts. But industry officials that are most think the internet impact will likely be good, providing much needed revenue 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 12 months before, citing issues that the bill might not pass constitutional muster. But the new version associated with the law was approved after Christie first issued a veto that is conditional which permitted legislators to produce some small changes to the bill, including requiring it to expire in a decade in order that legislators would have an opportunity to debate its merits again in ten years.

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