Cantor Gaming CEO Under Possible Investigation by Feds

Cantor Gaming CEO Under Possible Investigation by Feds

CEO Lee Amaitis (center) recently opened 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 place of energy someplace being scrutinized by the feds anymore, it seems. Now Cantor Gaming CEO Lee Amaitis is under the spotlight, according to the The Wall Street Journal, on the layer tail of colleague Michael Colbert Cantor’s now released vice president of risk management whom pled guilty month that is just last knowingly accepting unlawful bets.

Denial from the Top

Parent business Cantor Fitzgerald was fast to deny the rumor, however, saying in a issued statement: ‘We feel compelled to address this reckless and baseless rumor. 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, therefore there you go when it comes to denials of rumors.

Accepting wagers from ‘runners’ people whom destination bets 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 a brand new Cantor Gaming competition and sports books at the Atlantis Casino on Paradise Island into the Bahamas. The company now has eight sports publications in Las Vegas, operates the Palms Casino poker space, and provides mobile betting apps, combined with Atlantis that is new book that is 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 already entered his guilty plea to a solitary felony cost of conspiracy in a ny federal courthouse (bet we can guess which one). According to court documents, he will get sentencing Dec. 9, joining so many others who will likely be having a fun visit to the joint from the world that is wonderful of.

Colbert was picked up in a joint arrest two years ago, along with 24 others, whenever he had been 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 had been dismissed plus 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 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 apparently aid in the rebuilding of parent company Cantor Fitzgerald after the September attacks that are 11th the World Trade Center, where the company lost about 2/3rds of their employees. 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 certainly one of six casino companies pitching to enter the Philadelphia gaming market

The casino legend who started off back East with the property that is original has get to be the much-sought-after Atlantic Club in New Jersey’s gaming mecca is apparently 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 normally waiting getting word on another new resort casino destined for the Philadelphia, Pennsylvania area.

No Decisions Till Next Spring

Wynn will have to hold back 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. states the chosen project for Philly’s coveted second 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 what type is the best fit, noted Bill Lerner, who runs Union Gaming Research, an industry analyst in Las Vegas.

‘The hearings can give applicants a possiblity 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 losing bidders could allure the board’s choice to hawaii Supreme Court, which could take approximately 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 second Philadelphia resort casino ( 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 provided 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 60-acre waterfront property.

This will be Wynn Resorts second go at a Philly property; they had been within the operating back in 2010 by having a $600 million task, but pulled out before a decision had been made at the period.

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

Is Pennsylvania Market Leveling Out?

Since 2010, it could 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, nevada’ 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 gaming areas today) within the past few years.

‘After six years of really blockbuster growth, now it seems to have leveled off,’ Schwartz said. ‘Remember, it went from zero to $3 billion. It may be because it is a $3 billion industry.’

But Schwartz adds that the situation is far from hopeless, noting the exact same predictions that are dire connected to the Las Vegas market a few times, in 1989, 1993, and again in 1998. He says A wynn that is new resorts in Philadelphia could very possibly reinvigorate the industry there.

Nj Online Gambling Establish Plan Formally Announced

Coming to New Jersey, just in time for Thanksgiving: Internet gambling enterprises

It’s been a wait that is long but as expected, nj’s venture into the world of Web gambling will begin on November 26, allowing 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 November 21. When this occurs, just a number that is limited of guests will be able to play on the sites. Presuming that all goes well with the sites in that period, then complete 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 is going to be simple. In order to relax and play, users will physically have to be located within brand New Jersey, but are not essential to reside there. All players may have become at least 21 years of age.

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

The Borgata 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, as the Taj Mahal will make use of Ultimate Gaming, which already has experience now running the first online poker web site to hit in Nevada (Caesars Interactive has launched a 2nd site there). Meanwhile, the Tropicana Casino and Resort will mate with Gamesys Limited. Finally, the Golden Nugget has announced that it shall be working together with 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. However in the last few years, lots of new casino properties in Pennsylvania, New York, Maryland and other regionally competitive locations 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 even more precipitous after Hurricane Sandy caused damage that is heavy the latest Jersey shore in late 2012. That has generated a lack of jobs and income tax revenue for the state.

Not everyone is convinced that on the web gambling will make much of an effect. Some are concerned 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 internet effect is good, providing necessary income for the floundering casinos there.

New free slots no download aztec Jersey’s Internet gambling legislation was passed away by both houses and finalized 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 associated with law was approved after Christie first issued a veto that is conditional which allowed legislators in order to make some small 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.

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