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 danger management who pled guilty just last month to knowingly accepting unlawful wagers.
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 reckless and baseless rumor. The notion that Lee Amaitis is a target of federal prosecutors or he participated in illegal bookmaking is false and baseless.’
Of program, 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 who place wagers for an operation is illegal in Nevada, where Cantor Gaming is headquartered.
It might certainly behoove the sports book company to distance themselves from any further insinuations of illegalities, given that Amaitis just attended opening ceremonies for the brand new Cantor Gaming battle and recreations books at the Atlantis Casino on Paradise Island into the Bahamas. The company now has eight sports publications 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 had been 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 already entered his guilty plea to a single felony fee of conspiracy in A new york federal courthouse (bet we can guess what type). According to court papers, he can receive sentencing Dec. 9, joining so many more who is having an enjoyable visit to the joint from the wonderful world of video gaming.
Colbert had been acquired in a joint arrest 2 yrs ago, along with 24 others, when he was caught red-handed for his involvement with an illegal sports betting ring in Queens, NY. He originally was looking 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 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 free in December? Time will tell.
To his credit Amaitis did apparently aid in the rebuilding of parent company Cantor Fitzgerald after the September 11th attacks on the 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 business’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 out back East with the property that is original has end up being the much-sought-after Atlantic Club in nj’s gaming mecca appears to be placing a lot of energy into reclaiming his stakes for the reason that part of the world. The wind will blow in Massachusetts for approval of his proposed Everett, Massachusetts project, he is also waiting to get word on another new resort casino destined for the Philadelphia, Pennsylvania area while gaming mogul Steve Wynn waits to see which way.
No Decisions Till Next Spring
Wynn will have to wait until early Spring 2014, from the looks of it, nevertheless; that’s when chairman associated with the Pennsylvania Gaming Control Board William H. Ryan, Jr. says the queen of the nile 2 slot machine chosen 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 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 can give applicants an opportunity to give 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 appeal the board’s choice to hawaii Supreme Court, which could take roughly 6 months.’
Wynn’s project is naturally planned out in-depth currently, with Wynn Resorts teaming up with a bevy of partners 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 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 were within the running straight back in 2010 having a $600 million project, but pulled out before a decision ended up being made at that time.
The proposed Philly casino therefore the possible $1.5 billion Everett, Mass. project are not all Wynn Resorts has on the board that is drawing they are also 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 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 is a $3 billion industry.’
But Schwartz adds that the specific situation is far from hopeless, noting similar dire predictions were attached to the Las Vegas market several times, in 1989, 1993, and again in 1998. He claims a new wynn resorts property in Philadelphia could very possibly reinvigorate the industry there.
Nj 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-new jersey’s endeavor into the realm of online gambling will begin 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 have the ability to commence a ‘soft play’ launch on November 21. At that point, only a number that is limited of guests should be able to play in the sites. Assuming that all goes well with the websites for the reason that period, then complete scope, a real income online gambling will begin at 9 a.m. local time on the 26th.
The guidelines for playing on nj’s gambling sites will be easy. In order to play, users will need to be actually located within brand New Jersey, but are not required to reside there. All players has become at the least 21 years of age.
To date, nine of the 12 casinos in Atlantic City have announced partnerships with pc software providers that enables them to launch their Web 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 understood to be working together with bwin.party, while Caesars Entertainment which owns four Atlantic City properties is going to be partnering with 888 Holdings. Meanwhile, Resorts Casino Hotel has announced a partnership with PokerStars, while the Taj Mahal will use Ultimate Gaming, which already has experience now running the online that is first web site going to 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 will be using Bally Technologies.
Dropping Profits for AC Land Casinos
The web gambling launch will come as being a welcome possibility for 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 couple of years, a number of brand new casino properties in Pennsylvania, ny, Maryland and other regionally competitive areas have actually chipped away at that revenue, which stood just over $3 billion last 12 months and could fall below that mark in 2013. This autumn became all the more precipitous after Hurricane Sandy caused damage that is heavy the latest Jersey coast in belated 2012. That has generated a loss of jobs and tax revenue for their state.
Perhaps Not everyone is convinced that on the web gambling shall make much of an effect. 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 industry officials that are most think the net effect are positive, providing much needed revenue for the floundering casinos there.
New Jersey’s Internet gambling legislation was 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 year before, citing concerns that the bill might not pass constitutional muster. However the new version regarding 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 make certain that legislators would have a chance to debate its merits again in ten years.