Cantor Gaming CEO Under Possible Investigation by Feds

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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 launched the Cantor Gaming Atlantis sports book; some say he is under federal scrutiny now

Perhaps 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 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 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 irresponsible 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, therefore there you go regarding 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 truly behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for the new Cantor Gaming race and sports books at the Atlantis Casino on Paradise Island within the Bahamas. The company now has eight sports publications in Las Vegas, operates the Palms Casino poker room, and provides 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 was 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 entered their guilty plea to a single felony cost of conspiracy in a ny federal courthouse (bet we can guess which one). In accordance with documents, he will get sentencing Dec. 9, joining so many more who is having a fun visit to the joint from the world that is wonderful of.

Colbert was found in a joint arrest two years ago, along side 24 others, when he had been caught red-handed for an illegal sports to his involvement betting ring in Queens, NY. He originally was searching at eights counts of conspiracy, corruption and cash laundering, but the Queens case ended up being dismissed while the matter of his moving $100K in gambling profits from Las Vegas to New York was forwarded to the U.S. Attorney’s docket.

Even though 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 into the rebuilding of parent business Cantor Fitzgerald after the September 11th attacks on the planet Trade Center, where 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 crazy vegas slots free online Resorts is certainly one of six casino companies pitching to enter the Philadelphia gaming market

The casino legend whom started off back East with the original home that has now get to be 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 in that part of the entire world. While gaming mogul Steve Wynn waits to see which method the wind will blow in Massachusetts for approval of their proposed Everett, Massachusetts project, he is also 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 from it, but; that is when chairman regarding the Pennsylvania Gaming Control Board William H. Ryan, Jr. says the chosen project for Philly’s coveted second casino license should be determined. With six candidates waiting eagerly in the wings, there will be a general public hearing held in January to 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 gives applicants a chance to present to the board and make their case for why they should be awarded the license,’ Lerner stated in a research note that is released. ‘It is possible losing bidders could charm the board’s decision 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 Philadelphia that is second resort ( the HSP Gaming’s SugarHouse has been up since 2010 in the City 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, adjacent to a 300-room resort, all developed on a waterfront property that is 60-acre.

This will be Wynn Resorts go at a second Philly property; they were into the operating straight back in 2010 by having a $600 million task, but pulled out before a decision was made at that time.

The proposed Philly casino as well as the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the board that is drawing they are working on a $4 billion casino for Macau’s Cotai Strip.

Is Pennsylvania Market Leveling Out?

Since 2010, it might 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 down in growth (a pattern that is being seen across the U.S. in the land video gaming areas these days) within the past few years.

‘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 situation is not even close to hopeless, noting the same predictions that are dire attached to the Las Vegas market several times, in 1989, 1993, and again in 1998. He states a brand new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.

New Jersey Online Gambling Launch Plan Officially Announced

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

This has been a wait that is long but as expected, nj’s venture into the world of online gambling begins on November 26, allowing state residents to begin 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. At that point, only a number that is limited of guests will be able to play on the sites. Presuming that all goes well with the 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 rules for playing on New Jersey’s gambling sites is going to 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 has become at the least 21 years of age.

Thus far, nine of the 12 casinos in Atlantic City have announced partnerships with 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 who has yet to be confirmed.

Among the confirmed partnerships, the Borgata is known become working 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, whilst the Taj Mahal will make use of Ultimate Gaming, which already has experience now running the first internet poker web site hitting 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 with Bally Technologies.

Dropping Profits for AC Land Casinos

The web gambling launch will come as being 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. However in the previous couple of years, lots of brand new casino properties in Pennsylvania, ny, Maryland and other regionally competitive areas have chipped away at that income, which stood just over $3 billion year that is last could fall below that mark in 2013. This autumn became all the more precipitous after Hurricane Sandy caused damage that is heavy the New Jersey coast in late 2012. That has generated a loss of jobs and taxation revenue for the state.

Perhaps Not everyone is convinced that on the web gambling shall make much of an effect. Some are involved so it might just shift players who generally came to gamble in the casino to online video gaming, which could even be harmful, as they will not be purchasing resort rooms and food or shopping at the casino resorts. But most industry officials think the net effect will likely be good, providing much needed revenue for the floundering casinos there.

New Jersey’s Internet gambling legislation had been passed away 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 concerns that the bill might not pass muster that is constitutional. However the new version of this law was approved after Christie first issued a conditional veto, which permitted legislators to make 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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